View more on these topics

Birmingham Midshires fixes FTSE 100 Isa

Birmingham Midshires has brought in the guaranteed investment mini cash Isa.

The Isa is aimed at new Isa savers as well as people who have a tax exempt small savings account (Tessa) that is about to mature and who are looking about to find a new area in which to invest. New investors can invest up to £3,000, but Tessa owners can invest up to £9,000.

Birmingham Midshires has designed the Isa so that it tracks the FTSE 100 index over the five-year investment period. After the investment period is up the investor will be able to take up to 100 per cent of any growth in the index over this time.

In the event that the FTSE 100 fails to rise, then the investor will get 100 per cent of their original investment back. Investors cannot make any withdrawals from the Isa until its maturity date, which is set at April 4, 2006.

The capital protected Isa market is a steadily growing one, and the Birmingham Midshires product is extremely competitive, especially as some of the other products on the market, such as the Bristol & West Tessa Isa and the M&G protected Isa, only allow up to 80 per cent of the growth in the indices that they are tied to.

The FTSE 100 index rose from a level of 3,662 on January 15, 1996 to 6,170 on January 15, 2001.


Two life offices fined £350,000 by PIA

United Friendly Insurance and Refuge Assurance have each been fined £350,000 by the PIA for endowment breaches. The fines relate to a number of failings dealing with sales of with-profits endowments savings policies. The regulator found they were not taking into account of the customer&#39s stated savings objectives, did not ensure the contract was affordable […]

Gauge value of guarantees

I have received letters from several of my insurers reminding me that my old personal pensions are maturing on my 60th birthday. As you know, I intend to carry on working for a short while. Can I ignore these letters as the last thing I require today is more income on which I will have […]

NU Healthcare gives website boost

Norwich Union Health is up grading its website in a bid to boost its protection products. The website previously only provided product information and had no interactive elements. It will now include full illustrations of health ins urance as well as full det ails of income protection and cash plans from the life office. The […]

Yorkshire Building Society – FTSE Linked Tessa Only Isa

Wednesday, 17th January 2001.Type: Cash Isa.Aim: Growth linked to FTSE 100 index.Minimum investment: £100.Maximum investment: £9,000.Catmarked: No.Investment choice: 100 per cent in cash.Yield: From April 1, 2001, half of the investment will receive 7 per cent gross a year, and half will receive 60 per cent of the growth in the FTSE 100 index over […]

Boosting our annuity strategies

Targeting annuity purchase in lifestyle strategies isn’t anything new but we’ve just lifted the bonnet and injected an enhancement shot into the end-point of these solutions. The recent volatility has shot short-term volatility into equity markets and painted a very turbulent backdrop but we’re also equally faced with a stressed fixed interest environment. This can […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm