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HSBC Bank goes FTSE crazy

HSBC Bank is aiming its performance plus individual savings

account (Isa) at investors who are looking to reinvest their

maturing tax exempt special savings accounts (Tessas).

The Isa is linked to the performance of the FTSE 100 index and

returns the original capital at the end of the five year term.Investors also get up to 55 per cent of the average growth of the FTSE 100 during the term.

To calculate this, the level of the index is recorded at the beginning of the term and again at the end of the term. If the index has risen by anything up to 55 per cent, investors, investors will get this percentage of growth. But if the index rises by more than 55 per cent, the final return is capped at 55 per cent.

This product may suit investors with maturing Tessas who want higher returns

than they would get from a savings account but who are unwilling to risk the

capital they have built up by investing in the stockmarket without a capital


However, as the return is capped at 55 per cent of growth in the FTSE 100,

investors could miss out if there is a significant rise in the index after five years and this could be seen as the price they pay for capital protection over a product with no guarantee.

The FTSE 100 index rose from 3704.28 points on July 23, 1996 to 5405.28

points on July 24, 2001.


Inora Life links with Assureweb

Societe Generale subsidiary, Inora Life, has linked up with IFA portal Assureweb’s offshore platform, to distribute its products into the UK IFA market. Inora’s addition to the platform brings the total number of providers on Assureweb’s offshore service to 14. The portal now has more than 15,000 registered users.

Credit Suisse AM launches boutique fund of funds

Credit Suisse Asset Management Funds UK is launching a fund of boutique-style funds directly marketed at IFAs and investors.The Credit Suisse Multi Manager Constellation Portfolio aims to give investors access to talented fund managers who have left mainstream investment houses as well as smaller funds less constrained by benchmarks.CSAM director Robert Burdett says: “With less […]

HSBCI Bank aims at pan-European fund

HSBC Bank International has rounded out its range of capital secured growth funds with the introduction of the Pan European growth fund.One of three recent launches, this fund is aimed at experienced investors looking to invest in Europe. It is a Ucits that is based in Jersey and is available to both UK and non-UK […]

£400k fine and £15m redress bill for Royal London

Royal London has been fined £400,000 by the PIA and ord-ered to pay£15m in compensation to 65,000 customers for breaches relating to thesale of investment products. Royal London is now conducting a review of the past sales of its fullproduct range, including endowments, wholeof-life policies and savingsplans, and will provide further compensation where customers have […]

Pension savings-2015

Pension tax relief: parked (for the moment)

The national news agenda has been dominated by pension issues this month. For those that missed it (and there cannot have been many given that this was the lead story in spoken and written media), the Chancellor announced a decision to make no decision on pension tax relief in his 16 March 2016 Budget speech. To […]


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