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First among equals

Investment bank Credit Suisse First Boston is aiming its capital protected Tessa-only Isa at investors with maturing Tessas and those who are unhappy with the variable rate accounts of their original Tessa providers.

The global titans Tessa plan is linked to the 50 stocks listed on the Dow Jones Global Titans index. These include large global companies such as BP, Coca-Cola and Ford.

Investors can choose a growth option that offers the return of the original capital plus up to 55 per cent growth. Alternatively, an annual withdrawal option allows investors to withdraw 10 per cent of their capital each year as income – the remaining 50 per cent of their capital returned plus up to 50 per cent growth.

The 50 stocks on the index are grouped into five baskets each containing ten stocks. Each basket represents 11 per cent of the final return for the growth option and 10 per cent of the final return for the annual withdrawal option.

Where a stock in any basket falls by more than 33 per cent of its initial value during the final year of the term, the value of the other stocks in that basket are wiped out when calculating the final level of growth.

CSFB&#39s full capital guarantee may tempt cautious investors but some may be unwilling to risk ending up with only their original capital after tying money up for a further five years.


Survey shows reasons for trading endowments

Changing financial circumstances and switching from an endowment mortgage are the two main reasons for selling endowment policies, a survey shows.The survey, of 594 consumers, conducted for Surrenda-link by Earsandeyes Global Online Research, showed that 41 per cent of people cited changes in financial circumstances as the most likely reason for selling an endowment.Surrenda-link marketing […]

Making assets of our young people

In the twilight of Labour&#39s first term in office, the Prime Minister, flanked by a handful of his Cabinet colleagues, announced a radical new policy agenda whereby the benefits of savings and assets would be extended to all.The child trust fund and saving gateway were announced. Little has been heard of this publicly since. The […]

SG Hambros links deposit account to FTSE movements

SG Hambros is introducing a three-year deposit account which offers 3 per cent annual income along with stockmarket-linked growth and 100 per cent capital protection.The FTSE 100-linked deposit account is designed for risk-averse cash investors who want to outperform interest rates in the medium term.The account guarantees to pay 3 per cent income a year. […]

ARLA calls for letting clean-up

Landlords, housing agencies and Government must all work together to achieve a Public Private Partnership to clean up the letting industry, says the Association of Residential Letting Agents.The association says such a partnership would need no special funding and would help give choice in housing and provide a better return to new investors.


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