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Friends in protected global fund deal

Friends Provident has set up a protected global growth fund for

investors in its investment portfolio bond.

The fund is aimed at cautious investors and those looking to

diversify their portfolios by providing access to growth in world

stockmarkets while offering some protection against a downturn.

To provide the protection element, the majority of the fund will be

invested in fixed-interest securities from institutions with a

Standard & Poor&#39s credit rating of at least A.

The remainder of the fund plus any interest earned will be invested

in stockmarket instruments such as index futures and options which

give the exposure to the glo-bal markets.

The benchmark for the active element will be 30 per cent in the UK,

Europe and North America and 10 per cent in the Far East.

The protected price level at launch will be 90 per cent of the bid

price. This level will be reviewed annually on January 31 and the

level increased to 90 per cent of the bid price at that time although

the level is at the discretion of the fund manager&#39s F&C

Management if stockmarket conditions are considered right.

The fund has no initial charges and the annual charge is 1.5 per cent.

Managing director Ben Gunn says: “The launch of the fund extends the

appeal of our investment portfolio bond to a wider audience. With the

recent turbulence in world stockmarkets, we expect the fund to prove

extremely popular for the more cautious investor who still wants to

benefit from the potential growth of equity markets while reducing


“The fund is also suitable for sophisticated investors wanting to

manage their portfolios actively and cost-effectively with an

efficient product wrapper.”


FSA releases finance pack for students

The FSA has launched a resource pack for teachers providing personal finance education tools for students. The package, Make The Most Of It, is aimed at 14 to 19 year olds and deals with issues to give young people the confidence and knowledge needed to take responsibility for their financial affairs in the future.It covers […]

Pensions for the self-employed

Pensions for the self-employed have always been a conundrum,particularly state pensions. At one end of the sector are thehigh-earning professionals such as accountants and solicitors workingas sole-proprietors or partners. And at the other end are the low tomodest-earning home-workers, subcontractors or small business owners.All are entitled to the basic state pension on retirement but not […]

37% of high-net-worth clients are unhappy with investment advice

More than one in three high-net-worth clients are unhappy with theirfinancial adviser, according to a new survey from global consultancyAndersen.The survey, which polled 270 high-net-worth individuals worldwide,including the UK, revealed 37 per cent of respondents are unhappywith their investment advisory firm while 34 per cent said theyintended to place business with secondary advisers in 2002.The […]

Pink Home Loans discounted mortgage

Pink Home Loans, discounted mortgageDiscounted term: 2 yearsDiscount: 1.8% Payable rate: 3.95%Minimum loan: £25,000Maximum loan: £800,000 Income multiples: 3.25 +1, 2.5 x joint over 90% LTVArrangement fee: noneRedemption fee: 6 months interest at SVR for 2 yearsConditions: max LTV 85% Introducer&#39s fee: 0.25%, min £150Tel: 08707 590170

Inheritance tax when it is relevant

Neil Jones is Technical Support Manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. A trust can offer significant advantages when an individual is […]


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