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BGI launches third Tep fund

Barclays Global Investors is launching the BGI Endowment Fund III which will trade in with-profit endowment assurance policies.


The fund manager says 7.199,000 shares will be the subject of placing and the balance of 22,801,000 is being offered for subscription by the public.


The projected gross annual returns are 11.1 per cent. The fund will pay out over the last five years of its life from 2009 to 2013, rather than in one bullet lump sum.


The minimum investment is 1.15 per cent. The minimum investment is £2000. IFA commission is 2 per cent.

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