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Keydata bond knocks three times

Keydata Investment Services has established a guaranteed equity bond that offers three options.

Investors in the extra income plan can choose annual income of 7.5 per cent, quarterly income of 1.825 per cent or 41 per cent growth at the end of the five-year term.

The bond is linked to the FTSE 100 index and investors will get all their capital back, provided the index does not fall by more than 40 per cent at any time during the term. Even if a fall of more than 40 per cent occurs, investors will get their capital back if the index recovers to at least its starting level.

The starting level is the closing value of the index on September 6, 2002 and this is compared with the final level, the closing level of the index taken on September 6, 2007.

Where the index falls by more than 40 per cent without recovering to its starting value, capital will be reduced by 1.5 per cent for every 1 per cent fall in the index. This means that no capital will be returned where the index falls by 66.7 per cent or more, but income and growth payments will still be made.

This product may be attractive to income investors who want some degree of capital protection from a product that is linked to a single index that they are familiar with. However, capital erosion is a possibility, so it is unlikely to suit investors who need income, but not at the expense of their capital.


Standard Life Investments launches US dollar cash fund

Standard Life Investments has today launched a US dollar money market fund. The new fund will complement the Euro and sterling denominated sub funds of the Irish-listed Standard Life Investments (Global Liquidity Funds) AAA cash fund which has attracted £1bn since listing in January 2001.Standard Life Investments head of money market funds Kevin Thompson says: […]

Legal & General doubles Isa market share

Legal & General says its share of the Isa market more than doubled in the year to June 2002.The life and pensions provider says its market share rocketed to 11.9 per cent in the second quarter of this year from 4.8 per cent over the same period last year.Retail investments director Simon Pistell says: “Although […]

Applause as introducers are omitted from rules

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Chelsea BS launches fixed rate bonds

Chelsea Building Society is launching two new fixed rate bonds.The one year fixed rate bond will feature an interest rate of 4.50 per cent for investments of £1000 and above fixed until November 2003. The Monthly rate will be 4.41 per cent.The 2 year fixed rate bond pays a rate of 4.80 per cent for […]


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