View more on these topics

Irish Life offers currency choice

Irish Life International has established an offshore guaranteed equity bond that is linked to the Dow Jones Global Titans index.

The eighth issue of the secured growth bond enables investors to choose a currency denomination from sterling, dollars or euros and the level of final returns will depend on which currency is chosen. Sterling versions offer a return of 75 per cent of the average growth in the index, while the return for the other currency denominations is 60 per cent of the average growth in the index.

There is also a choice of two options: protected plus A which has a term of three years and six months and protected plus B which has a five-year term. Both terms guarantee the return of the original capital whatever happens to the Dow Jones Global Titans index, but protected plus B guarantees 10 per cent growth on top.

By following the Dow Jones Global Titans index, the bond follows in the footsteps of Credit Suisse First Boston, which offered its global titans Tessa Isa earlier this year. The index consists of the 50 largest companies around the world, so it captures global diversity within a single index.

This means that it does not risk one stockmarket index pulling down the returns of another, which is a potential drawback with similar products such as Britannia International&#39s five-year capital guaranteed equity bond.
The Dow Jones Global Titans Index rose from 152.76 points to 203.90 points in the five-year period from June 11, 1997 to June 11, 2002.

Recommended

&#39US won&#39t fall into a double-dip recession&#39

The US economy is unlikely to fall back into a double-dip successive recession predicts Govett&#39s US opportunities fund manager Gil Knight. The US slipped into recession in March last year but returned to growth in the fourth quarter last year and, following GDP growth of 5.8 per cent for the first quarter of this year, […]

Abbey extending Inscape to IFAs

Abbey National is looking at opening up its wealth management service Inscape and fund supermarket FundsCentre to IFAs. Inscape was set up in November 2000 for people with more than £50,000 to invest, offering a multi-manager portfolio service and tax and other financial planning at 12 regi-onal advice centres. Abbey is considering whether to make […]

Individual pension sales up but IFAs lose market share

Individual pension sales leapt by 22 per cent during the first quarter of this year compared with the same period in 2001 but IFAs&#39 market share has tumbled, according to the ABI. Individual pension sales rose to £885m from £722m on an equivalent premium income basis but IFAs&#39 share of the market fell to to […]

&#39Depolarisation to boost supermarts&#39

Cofunds is reporting sales of more than £500m since its launch 18 months ago and claims support for fund supermarkets will increase further after depolarisation. Research carried out among 6,500 IFAs registered with Cofunds found that RIs are looking for independent and diverse fund supermarkets that will allow them to consolidate clients&#39 funds. It found […]

Treasury looks to address advice gap

By Jamie Clark, Business Development Manager, Royal London Hot on the heels of consultations on tax relief and pension transfers and early-exit charges comes a new investigation into the advice gap, and how this can be bridged. Ever since the new pensions freedoms were introduced, concerns have been raised about how people can get access […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com