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HSBC Pep plus rolls over

HSBC has unveiled Pep plus, a rollover product for investors in its existing Pep plus that is about to mature.

This personal equity plan (Pep) transfer product only accepts Pep transfers from HSBC&#39s original Pep plus. Under Pep rules, no new money can be added to Peps. so those who want to top up their investments must use another version of the product, Isa plus.

Like Isa plus, Pep plus is linked to the FTSE 100 index by investing in HSBC UK equity growth 3. At the end of the five-year term, investors are guaranteed the return of all their original capital, regardless of how the index performs during the term.

Investors also receive 75 per cent growth in the FTSE 100. To calculate this, the closing level of the index is taken at the start of the investment term. Then, in the final 12 months, the weekly average of the FTSE 100 is recorded and the final return is based on the difference between this figure and the starting level.

The capital guarantee and returns are not dependent on the FTSE reaching or staying at a certain level during the term, which is good news for investors. The FTSE 100 has been going through a rocky patch recently so a five-year term could take investors through to a high point. However, there is a risk that there will be no capital growth if the stockmarket reaches another sticky patch between 2005 and 2006.

According to FTSE, the FTSE 100 rose from 3755.161 points on June 4, 1996 to 5856.496 points on June 4, 2001.


Boyd makes little impact

Financial services public affairs consultant Jim Boyd made a small dent in Labour MP Chris Mullens&#39s huge majority in Sunderland South.Consolidated Communications divisional director Boyd, sitting as Conservative candidate, came second with 20.1 per cent of the vote, a swing to the Tories of 1.2 per cent in the safe Labour seat that Mullen holds […]

Call for companies to promote green credentials

Companies own investor relations managers are more concerned with environmental and social issues than analysts, institutional investors and financial journalists, a report shows.The survey, conducted by corporate environmental responsibility campaign Business In the Environment, found 13 per cent of investor relations managers deemed environmental and social issues important, compared to 3 per cent of analysts, […]

CML revamps home-buyers guide

The Council of Mortgage Lenders is revamping and updating its &#39How to buy a home&#39 booklet, which gives guidance for home-buyers.The booklet provides information to help first time buyers understand the legal and practical considerations involved in buying a home in England and Wales. The section on mortgages explains the different products available, how interest […]

New IFA firm to focus on wealthy clients

Corporate Planning Group, an IFA targeting wealthy people and business owners, launches this week. Set up with £2.8m of private capital, the company intends to offer a complete financial planning service by combining 10 companies under the Corporate Planning Group brand. The 10 firms are an IFA, a venture capitalist, a business consultancy, a Guernsey-based […]


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