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Friends boosts bonds

Friends Provident is adding 1 per cent to the allocation rate on its capital investment and income distribution bonds.

The capital investment bond is designed to be a longer-term investment providing a regular income-withdrawal option, while the income distribution bond is designed to provide a regular income and offers a choice of two distribution funds.

Managing director of the retail operation Ben Gunn says: “The quality of our investment track record speaks for itself and now returns will be even better as we will be investing even more for our customers. It is a limited offer available until December 15.”

Friends is also revamping its with-profits bond by increasing the allocation rate by 1 per cent and improving the terminal bonus rate.

The eligibility period for the terminal bonus has been reduced to three years from five on both new and current bonds.

For investments less than £5,000, the allocation rate increases to 99.5 per cent from 98.5 per cent, while for amounts over £5,000 the rate rises to 101 per cent from 100 per cent.

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