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Blue Sky launches new ‘Auto Call’ plans

Blue Sky Asset Management has launched two plans with one offering income at more regular intervals.

The High Income Corridor Auto-Call Plan II is a five-year product which offers a 4.5% income potential every six months if the FTSE 100 remains between 85% and 105% of its starting level.

If it rises above 105% of this level, the plan will close and repay the capital with a final income payment.

Blue Sky says this should appeal to investors if the stockmarket moves sideways—as many forecasters expect—with the reassurance that income will still be paid if it falls 15%.

Meanwhile, the Capital Accumulator Auto-Call Plan – Defensive Series IV was launched for cautious investors. It offers 15% growth as long as the index is at, or above 90%, of its starting level. If the index rises by more than 7.5% a year, the plan will close returning 100% of capital. There are four opportunities for an auto-call in the six-year term.

Both plans close to new business on July 3 and minimum investment is £10,000 for direct and £7,200 for Isas.

Related story: Blue Sky plan could make net loss


On the rebound

Another week and another rally. By the end of last week, UK shares had rebounded by nearly 30 per cent from the March low – and this despite the impending collapse of General Motors. Perhaps of greater importance is the length of the rally. Recoveries of this nature seldom run for more than eight or nine weeks unchecked. This one is heading for a full three months.

FSA to extend FSCS cover for mergers

The FSA is today proposing to extend interim rules which allow separate compensation cover for customers with deposits in two merging building societies until December 2010.

Indian funds star in May

The two strongest performing funds during May were both Indian equity offerings, which received a boost following the country’s recent elections, according to Lipper.


Case study: administration — managing group life schemes

Our client leads the global market in high-tech electronics manufacturing and digital media. The trustees of the company’s final salary pension scheme insure death-in-service lump sum and dependants’ pension death benefits for active employees, as well as dependants’ pension benefits for deferred members (those who have left service).


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