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It could be zero for Geared Income Fund

Guaranteed zeroholders in the Geared Income split-capital investment trust could receive nothing when it winds up next year following a £260m slump in its assets.

The zeros are meant to pay out more than £60m to holders in October 2003 but following a share price collapse only have £13m to cover them once a £90m bank loan has been paid off.

Zeroholders can only be paid after all liabilities have been met.


Outside Edge: David Ferguson

In the past, life office financial strength tended to be quoted in a positive light, giving a boost to the company&#39s market ing effort and generally providing an all-round smiley, happy feeling.Now, though, as global equity markets continue on their meander south and the dust tries to settle on the Equitable Life disgrace, financial strength […]

Mortgage firms in tracker deal

Mortgage distributor Pink Home Loans has linked up with specialist lender Mortgages plc to offer a new range of base-rate tracker products. The Crystal mortgage range is a selection of tracker mortgages with a 1.5 per cent discount until August next year. Rates start at 5 per cent and are tiered according to loan to […]

Net gains

Picture the scene – Bankhall&#39s Tony Murrell nutmegging ageing pop star Rod Stewart and embarking on a mazy dribble before whacking the ball just wide of the far top corner.Murrell was invited to the hoarse-throated legend&#39s country manor for a game of football. The IFA support group&#39s director, who plays for his former school&#39s football […]

Fall in housebuilding adds to pressure on prices

Fewer homes were built last year than in any year since 1950, adding to pressure on the surge in property prices, according to research from Halifax.The total number of new homes built in the UK fell by 4 per cent to 162,500 last year from 169,000 in 2000. In England, the number of new homes […]

Bonds going bust? Not so fast….

In recent months bond bears have been reinvigorated, and market commentary suggesting “the end of the bond (bull) market is near” has become commonplace. We think these comments are premature. Explaining the global government bond sell-off October has seen renewed pressure on global government bonds, initially provoked by a Bloomberg article suggesting that the ECB […]


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