View more on these topics

Investec misses panel targets

Investec is offering a new tranche of structured products but has missed the mark for several adviser panels due to its credit rating.

The range includes the capital guaranteed FTSE100 income plan one, a deposit-based product covered under the Financial Services Compensation Scheme in the event of counterparty default.

All plans are underwritten by Investec Bank which was downgraded from Baa1 to Baa3 by Moody’s in March. Research by Structuredretailproducts.com reveals Investec issued 22.9 per cent of the UK structured product market in February.

Investec head of intermediary sales Gary Dale says the firm will review sales across its range and consolidate after December.

AWD Chase de Vere head of structured product and protection research Julie Smith says Investec has featured on its panel but adds: “They had a double downgrade from Moody’s so we would not consider them now.”

AWD has a minimum AA rating but will consider AA- on structured deposits up to £50,000. Truestone says its minimum is AA.

But Baronworth Investment Services director Colin Jackson says: “Investec has some very good and very clever products. They are doing issue after issue.”

Recommended

Manager focus: Angelos Damaskos

Every dollar in the movement of the oil price directly affects his profit and loss, says Angelos Damaskos, the manager of the CF Junior Oils Trust. Since the fund launched in September 2004, the manager says there have been several highs and lows in the volatile oil sector.Last July, for example, oil prices hit a […]

Alliance Trust benefits from cash stance

Katherine Garrett-Cox, chief executive of Alliance Trust, says that raising the cash position early in 2008 has improved the performance of the FTSE 100 listed vehicle. In preliminary results for the year to January 31, 2009, released this morning, the trust’s peer group ranking climbed from 25th out of 38 funds in the Global Growth […]

Navigating volatility

The making of any fund can be seen in how it responds to crises and opportunities. In this short video, Head of Multi Asset at Royal London Asset Management Trevor Greetham outlines how the Royal London Global Multi Asset Portfolios or GMAPs navigated through Brexit and the US election cycle. He also highlights the importance […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment