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Income deal on ScotMut property fund

Scottish Mutual is launching a commercial property plan investing in the Westbury Property Fund which aims to generate income of 7 per cent a year. The minimum investment in the 10-year plan is £75,000 or £7,000 in an Isa wrapper. Initial commission is 4 per cent, with 0.5 per cent trail. The plan has a limited offer period from October 14 to December 13, 2002.

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Poor&#39s enters Fof market in link-up with Schroders

Ratings agency Standard & Poor&#39s is entering the multi-manager market through an exclusive agreement with Schroders to offer IFAs and financial institutions a global funds of funds service.In a major departure from its core business, S&P is reass-essing funds that it has already rated to create a panel of recommended products for which Schroders will […]

CIS cuts with-profits payouts by 5 per cent

CIS is cutting payouts on with-profits by 5 per cent after announcing an interim bonus declaration. The cuts follow a 15 per cent cut announced at its scheduled annual declaration in April. The company blames falling stockmarkets but claims consumers are still benefiting from smoothing.

Hargreaves Lansdown sets up mortgage arm

Hargreaves Lansdown is moving into the mortgage market, saying it is confident that it can offer better deals than are currently available in the UK.In a move to diversify from its core investment and pension business, it is mailing 400,000 clients with details and is recruiting 10 specialist advisers to join the new division, Hargreaves […]

Matrix Money Management – Cornerstone VCT

Tuesday, 24 September 2002 Aim: Income by investing initially in gilts, fixed interest securities and cash then small income-generating companies Minimum investment: Lump sum £2,500 Opening-closing date: September 17, 2002-May 30, 2003 Charges: Initial 5.5%, annual 2% Commission: Initial 2.25%, annual 0.375% Tel: 020 7292 0825

Trusts: Easier than you think?

Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]

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