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HSBC fund pledges to protect capital

HSBC Asset Management has set up a capital-protected fund for investors wary of market turbulence.

The safe haven growth fund guarantees 100 per cent of initial capital and 100 per cent of any growth in the FTSE 100 stockmarket index at the end of its six-year term.

If at the end of the first two years, the index has risen by at least 20 per cent, the product will wind up and investors will receive their initial investment returned plus 20 per cent.

If this does not happen but at the end of four years the FTSE 100 has risen by 40 per cent, the product will close and investors will get back their capital plus 40 per cent growth.

If neither of these occurs, at the end of the six-year term the investment will mature and investors will get their capital returned plus any growth in the index.

Minimum investment is £3,000. The product is available through Isas or Pep and Isa transfers and through direct shares.

It will be available exclusively through IFAs until October 11.

Director of marketing Alison Savage says: “Safe haven growth provides a means of investing with confidence at a time when the immediate outlooks for markets is uncertain. Investors will have peace of mind knowing that their capital is protected while unlimited growth potential is also provided if the product runs for the full term.”


Mortgages plc appoints two new sales managers

Specialist lender Mortgages plc has appointed two senior sales people as part of the restructure of its sales and marketing team. Mark Harrison and Bryn Hancock take up the new positions of regional managers for the north and south of the UK respectively. Harrison joins from Bank of Ireland where he was corporate lending manager […]

Britannia International – 3 Year Fixed Rate Deposit Account Issue 5

Friday, 23 August 2002 Type: High interest account Minimum-maximum investment: £10,000, £5,000 for existing Britannia International customers-£1m Place of registration: Isle of Man Interest rates: £5,000-£24,999 4.5% gross a year, 4.2% gross a month, £25,000-£49,999 4.65% gross a year, 4.35% gross a month, £50,000 and above 4.8% gross a year, 4. 5% gross a month […]

GMAC fixes non-conforming loan at 5.74% for two years

GMAC-Residential Funding is offering a two-year fixed-rate deal for non-conforming borrowers at a rate of 5.74 per cent until September 2004. The rate is available for mortgages up to 90 per cent loan to value and is aimed at borrowers who have received county court judgments in the last three years totalling up to £3,000, […]

Only three UK sectors positive in July says Lipper

Only three of the 31 Ima UK unit trust and Oeic sectors produced positive returns in July according to the latest Lipper monthly fund market report.None of the equity sectors produced a positive return in the month, the three that were the Index Bear funds at 3.1 per cent, UK Gilts 0.23 per cent and […]


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