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Kensington to diversify with Investec range

Kensington is to offer parent company Investec’s structured retail products through its distribution channel as it looks to widen its business.

Investec launched a range of structured retail products on May 19. These include a guaranteed FTSE 100 plan, FTSE 100 geared returns plan and FTSE 100 accelerated growth plan.

Intermediaries with investment permissions can access Investec’s full range but mortgage advisers will only be able to sell the accumulation plans.

The guaranteed FTSE 100 plan offers 2.25 per cent commission for the three-year option and 3 per cent for the five-year option.

Edeus has also recently partnered with Newcastle Building Society to offer two savings products to its broker database. It is paying up to 2.75 per cent of the investment.

A Kensington spokesman says it is still active in the mortgage market but is distributing Investec products to add value to its intermediaries and extend distribution for Investec.

Kensington head Keith Street says: “Kensington is a trusted brand with established distribution among intermediaries and we are using this to widen the reach of a suite of products that have recently been launched by Investec. Distribution of these is part of Kensington’s ongoing diversification into areas where we are using our unique attributes to add value to new markets.”

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