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Friends boosts bond allocation by 2% for online applications

Friends Provident is offering an increased allocation of up to 2 per cent for new lump sum investments of £10,000 or more into its portfolio bond.

The offer is open until June 30. Investments between £5,000 and £9,999 will get the normal allocation of 101.75 per cent. Investments over £10,000 get an allocation rate of 102.75 per cent.

To get the full increased 2 per cent allocation, applications must be submitted online by an IFA and the adviser must give up 0.25 per cent of initial commission.

The investment portfolio bond has no initial charge, investment flexibility with a choice of 17 funds, with-profit, ethical and protected fund options, choice of pre-selected portfolios to meet individual&#39s investment risk profiles and an income withdrawal option.

Investment marketing manager Jim Henning says: “Our proposition for investment bonds stacks up very competitively in the market. The extra allocations for investments over £10,000 mean that investors get a very attractive return from day one. Many potential invest-ors are still wary about venturing back into the stockmarket but net deposit rates remain unattractive. The bond&#39s 102.75 per cent initial allocation, combined with a range of risk-averse funds, could be the answer.”

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