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Julian Gibbs

With UK shares nearly 40 per cent off their record high, now is an excellent time to transfer underperforming Peps into the NDF protected UK growth plan, issued in conjunction with Abbey National Treasury Services. This is a tax-free investment offering 100 per cent of the rise in the FTSE 100 over five years, unlike most other plans which have capped growth.

It gives a full return of capital provided that the index does not fall by more than 50 per cent and fails to recover fully to its level on October 4, 2002.

Independent analyst FVC has given this product the highest rating of all products reviewed under its new scoring system. It gets nine out of 10 for higher-rate taxpayers and 8.75 out of 10 for basic-rate taxpayers. This compares very favourably with the average score of 6.3 on the 175 products already reviewed.

Couples can each use their Isa allowance to invest up to £14,000 free of tax. Furthermore, by using individual capital gains tax allowances of up to £7,700, substantial amounts can also be invested for children, even by parents, as each child has their own allowance and, unlike gifts producing income, there is no liability to tax on the parents.

The average maturity proceeds since the launch of FTSE 100 index would have been 160 per cent but, at current levels, the returns are likely to be higher than this. Since the FTSE 100 was launched, on no occasion would the 50 per cent safety zone have been breached – there would always have been a full repayment of capital, unlike the returns on tracker funds, when there have been some periods when investors have made heavy losses, such as at present.


Livingstone joins EFM

Edinburgh Fund Managers is expanding its funds of funds and manager selection division with the appointment of John Livingstone from Henderson Global Investors.Livingstone will be joint head of managed funds research for EFM&#39s Edinburgh Portfolio and will work alongside Craig Heron. He will be responsible for fund and sector research and analysis.His appointment follows the […]

Consumer Panel says Sandler proposals put more pressure on consumer

PRESS RELEASE Date: 9 July 2002Ref: 06/2002Consumer Panel says Sandler proposals put more pressure on consumerThe Financial Services Consumer Panel warns that Ron Sandler&#39s wish to simplify the sale of savings products, published in his report for the Government today, is in danger of being achieved at the expense of consumer protection. The report proposes […]

Personal pension points

John Stillitz cannot understand why insurance and investment providers are reporting impressive results because “pension business is dramatically down”.He says that if pension business is being written, it is stakeholder and that sales of such plans are disappointing.I have not found it so. I am doing a lot more of these than I ever did […]

CII warns of misbuying

The CII has warned of the dangers of misbuying from the Sandler review proposals. It says the new simplified regime should not bring a dilution in the standards of consumer protection. CII director general Dr Sandy Scott says: “Action is needed to help bridge the annual savings gap of £27bn and we support moves to […]


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