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DWS is busting out with 2m a day inflows

DWS’s ratebuster product is understood to be selling more than 2m a day, with the launch team holding a sweepstake on runaway sales figures.

The product, which launched on March 21 and is open for its first offer period until April 11, provides capital security at six-monthly intervals and aims at a 7.75 per cent return by investing the interest accrued. The capital is guaranteed by agreement with DWS parent company, Deutsche Bank.

DWS head of UK retail distribution Andy Clark says this is the biggest industry launch in over five years. Ratebuster was introduced after research with IFAs about what they wanted pointed to a realistic alternative to cash deposits with a slightly higher return.

Clark says: “People are starting to trust our products. Being owned by Deutsche Bank helps because, after the Peter Young crisis, Deutsche wrote a big cheque. People do not forget that. We are very excited about the launch. One person who predicted a low figure on the sales sweepstake has gone quite a bit higher.”

Hargreaves Lansdown investment manager Ben Yearsley says: “It is fantastic that they have made this level of sales but it will not raise the standing of DWS in the eyes of the public unless the product delivers and does what it is aiming to. It all hinges on whether the investment teams can generate the returns.”

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