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Equity content capped at 60 per cent

The equity-based product in the Sandler suite of products will have a maximum exposure to equities of 60 per cent with further requirements to be diversified across a range of companies, markets and sectors.

The Treasury consultation on the products published today also sets out that the equity products will be able to take the form of either a mutual fund or a unitised life product as the Government says consumers are not aware of a difference between the two.

It is looking to consult on whether there should be a minimum level of equity exposure alongside the maximum level and whether there should be additional constraints in terms of what constitutes fixed-income securities.

The 1 per cent price cap will be applied to the equity product with no initial charge and either strictly regulated or non-existent exit charges.

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