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Investec Private Bank launches enhanced income product

Investec Private Bank has launched an enhanced income product offering 4.25 per cent a year or more if the UK stock-market performs well.

The Investec Income Deposit offers a minimum return of up to 8.5 per cent over two years with capital protection. It the Ftse 100 grows by 13 per cent in year one the enhanced return is 6 per cent AER gross, and if it grows by 26 per cent in two years the enhanced return is 7 per cent AER.

The product is open until February 28, 2006 with a minimum deposit of £50,000. It is eligible for investment by private clients, personal pensions, trusts and an offshore bond.

Investec Private Bank spokesperson Linda McBain says: “This product offers 100 per cent capital protection, attractive returns when compared to savings accounts and the opportunity to enhance these.”


FSA to streamline anti-money laundering rules

The FSA is planning to streamline its anti-money laundering requirements as it simplifies the FSA Handbook in March.It will remove the detailed rules on anti-money laundering controls in their entirety, replacing them with high level requirements for firms to put their own risk-based controls in place. The initiative hopes firms will target resources on activities […]

Unconditional offer cuts Skandia rating

Standard & Poors has cut Skandias insurance rating from A to A- following the announcement that Old Mutuals offer is now termed unconditional.

Standard fears Govt U-turn on Sipp tax breaks

Standard Life has written to the Revenue seeking confirm-ation that the Government will not perform another Sipp U-turn and block tax breaks for private companies investing in their own businesses. Head of pensions policy John Lawson says directors of limited companies with SSASs can switch their assets into a Sipp to take advantage of Sipps’ […]

Fidelity learns from mistakes

Further to Martin Blackie’s letter in last week’s Money Marketing about his recent unfortunate experience with Fidelity International, let me first say how sorry we are that he has has not received the standard of service which he should rightly expect from Fidelity. Second, let me say that we take such incidents extremely seriously. On […]


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