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“Bricks and mortar” tracker launched

Abbey National is launching a new savings bond to track the value of house prices, allowing investors to capitalise on the continuing price boom.

Investors in the House Price Growth Bond will get their initial investment back plus a return of 1.2 times the increase in Abbey&#39s UK house price index.

Abbey says the product is suited to individuals who already have a portfolio of investments.

Abbey National spokesperson Kathryn Pugh says: “We&#39ve all heard about the house price boom, but for those don&#39t want to move house, this is one of only a handful of ways available to invest in bricks and mortar.”


Fund managers “incompetent lemmings”

The average UK pensioner will be £20 worse off a week because of fund managers&#39 incompetence, according to a leading industrialist.Former Confederation of British Industry director-general Sir John Banham said he calculated the fund managers&#39 who have chased IT stocks in preference of international retail sector stocks had cost every household in the UK more […]

Egg hatches floatation plans

Egg has confirmed it plans for a partial stock market flotation later on this year in a bid to become more focused.Egg parent Prudential says customers will be able to buy 15-25 per cent of the bank and hopes the flotation will value Egg at £2.75bn.Egg has 940,000 customers and has taken £7.6bn in deposits […]

It&#39s a big gap, says AITC

Investment trusts have lower fund charges than unit trusts, according to the Association of Investment Trust Companies.Its research shows annual expenses for unit trusts average 1.38 per cent compared with 0.83 per cent for investment trusts.The trade body, which is responsible for the “its campaign” to promote investment trusts, says the gap is significant.AITC director […]

FSA issues high income caution

The FSA is reminding consumers on the risks of high-income products amid fears they don&#39t fully understand them.The regulator&#39s caution follows its own qualitative research of 40 investor interviews showing investors associate high risk with return and do not fully digest the small print.The study also showed the charging structures of high income products are […]

Partied out and penniless

December has left me destitute. My piggy bank lies broken and empty, my lunchtime meal deal feels like an extravagant expense and I’m down to the Bountys in my box of Celebrations. But I won’t mourn my dearly departed pennies. Between buying gifts for loved ones (then deciding to keep them for myself) to treating […]


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