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HSBC&#39s capital idea to safeguard retirement

HSBC has joined the small number of companies offering a capital-protected

Isa. HSBC is aimed at the risk-averse investor who is looking

towards retirement.

It invests in a portfolio of 20 technology companies, including Microsoft,

Siemens, Yahoo and Toshiba. Investors&#39 capital is protected with a

guarantee that, even if the shares of all the companies fall below their

starting level, a minimum of 90 per cent of capital is returned.

Despite the recent market corrections in the Nasdaq 100 index and

the threatened break-up of Microsoft, HSBC feels the sector still has a lot

of growth potential and that the technology boom will continue over the

long term.

Capital-protected Isas are not common and many investors will welcome the

benefit of having a degree of protection. However, recent market

corrections have shown that the technology market could be overvalued and

that this is an area of volatility.


Halifax to patent internet bank products

Halifax is planning to patent the account design and software for its new internet bank, Intelligent Finance.The bank claims its ideas are so exciting that it needs a patent to protect others from mimicking them.It will not release the revolutionary features until its inception in July, however, industry commentators are sceptical says the Financial Times […]

Portman Building Society…

Portman Building Society has raised £13,500 for Macmillan Cancer Reliefwith its 2000 Calendar Charity Appeal.A total of £27,000 was raised through donations from Portman members. Theother £13,500 has been split between 14 charities in the society&#39s mainoperating area.Portman chief executive Robert Sharpe says: “I hope that this will helpMacmillan Cancer Relief meet the obj-ectives of […]

Aberdeen doubles pre-tax profits

Aberdeen Asset Management has posted doubled pre-tax profits of £13.4m for the first quarter of 2000. The increase from last year&#39s mark of £6.7m will likely garner the fund manager a much coveted top 10 spot in the Association of Unit Trusts and Investment Funds monthly figures.It is currently ranked the 13th largest fund manager […]

Julian Gibbs

The eTechnology venture capital trust has been launched with the intentionof investing in technology trusts and shares following the recent sharpdecline in prices.It qualifies for 20 per cent income tax relief and 40 per cent capitalgains tax roll-over relief, with both profits and dividends being free oftaxInitially, it will be invested 100 per cent in […]


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