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Corporate focus for cash bond

Prudential International Assurance is offering an offshore cash portfolio bond.

The Prudence portfolio bond capital-redemption option, which has no entry or exit fees, is a single-premium unit-linked contract with no life assured and a fixed term of 99 years.

Investment relationship manager Richard Leeson says it is aimed at low-risk high-net-worth clients aged 50-plus, trustees and companies looking for capital preservation.

He says IFAs often overlook the corporate market, which he describes as untouched. He says companies can earn 3.6 to 4.5 per cent interest on the bond. It also has the benefit that directors do not become tied to the investment and do not need to be named, so a change of directorship does not trigger a chargeable event.

The bond is also available as a life insurance contract.

The minimum premium for new business is £100,000 or the foreign currency equivalent. The minimum top-up is £5,000 or equivalent.

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Premier Asset Management – Premier Money Market Fund

Type: Oeic Aim: Income by investing in cash, short-term deposits and money market instruments Minimum investment: Lump sum £1,000, monthly £50 Investment split: 100% cash, short-term deposits and other money market instruments Isa link: No Pep transfers: No Charges: Annual 0.5% Commission: Subject to negotiation Tel: 01483 400400

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New version of L&G&#39s distribution fund

Legal & General is launching a unit trust version of its £1bn distribution life fund this week, offering 5 per cent initial commission but no trail. The fund, to be managed by David North, will be invested at least 60 per cent in bonds, enabling it to retain the tax credit within an Isa. The […]

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