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Clerical Medical boosts allocation for bond

Clerical Medical is offering increased allocations on its investment bond and “bond fee” version of its distribution bond.

The offer will apply to all new investments and top-ups to existing bonds until further notice.

The move increases the allocation on the investment bond to 101 per cent from 100 per cent. For distribution bonds, the allocation increases to 101 per cent for investment of £5,000 to £9,999, 101.5 per cent for £10,000 to £14,999, 102.25 for £15,000 to £24,999, 102.5 per cent for £25,000 to £49,999 and 102.75 per cent for investments of £50,000-plus.

Both bonds are unit-linked with no fixed term. The offer applies only to the bond fee version of the distribution bond and not the initial charge version. The bond fee version has a 1 per cent annual fee for the first three years of the bond and also a 1 per cent annual management charge.

Senior retail marketing executive Richard Edwards says: “Both bonds aim to give excellent tax-efficient returns over the medium to long term. They can be an ideal investment vehicle for a wide range of clients.”

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Is there room for new entrants into the retail fund management market?“No, I think it is very crowded. In the UK, we have so much choice in terms of fund managers and types of funds already.”Ian Shipway, Lauren Charles Financial Management“Yes. There is always room in the market if they are bringing in quality funds. […]

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