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Keydata Bond sells 4m in 3 days.

Keydatas secure income bond sold 4m in its first 3 days of launch last week, the highest uptake of any product launched by the provider.

The bond aims to pay 7.5 per cent annual income over a five year term without relying on equities. It invests instead in a mix of cash and corporate protection insurance policies, and is designed to appeal to investors looking for income but who are put off by the perceived risk of equity or high yield bond investing.

It buys the insurance contracts from companies when the insured individuals retire. The policies mature when the employees eventually die and are priced on a KPMG model that is stress-tested every six months to ensure its accuracy.

Cash within the bond is used to service and purchase further contracts. It is issued through MeesPierson Intertrust, a Luxembourg-based trust company and subsidiary of Fortis Bank. The bond offers trail commission despite being a closed ended product allowing IFAs to rebate initial commission and switch clients money out of equity products without commission penalties. Minimum investment is 4,000 with the fund closing on September 16 2005.


BBB announce 24.5m losses

Berkeley Berry Birchs results show an operating loss of 24.5m, after a goodwill impairment charge of 19.6m, for the year ending March 31 2005.The firm says the FSA investigation into the sale of Berry Birch & Noble Financial Services has been discontinued.It also says the FSA investigation into Berkeley Independent Adviserss sales of life and […]

Aifa warning of Mifid chaos

The European Union’s controversial markets in financial instruments directive could cause major confusion in the investment advice market and bog IFAs down in yet more costly regulation, warns Aifa deputy director general Fay Goddard.Aifa says IFAs holding client money, up to 10 per cent of IFAs, are expected to be hit by major changes when […]

Liverpool Victoria adds to IHT suite

Liverpool Victoria has launched a new whole of life guaranteed life assurance product.Lifetime+ has guaranteed premiums and is available on a single or joint life basis. It also carries guaranteed insurablility options, which include marriage, divorce and inheritance.Level or index-linked options are available and the product confers membership of the mutual on individuals taking it […]

F&C outsources US and Japan portfolios

Foreign & Colonial investment trust has outsourced management of its American and Japanese assets and introduced an overall performance fee. The 450m US large-cap portfolio will be split between four managers while its 120m Japanese portfolio will be run by Goldman Sachs. Management of the US small-cap business will stay with F&C. F&C says it […]

Europe: why persist with value today?

By Rob Burnett, Neptune’s Head of European Equities The Neptune European Opportunities Fund remains committed to a value bias. We see a broadening array of opportunities in diversified industries at compelling valuations today. The most complicated part of the market is the European banks. We are currently overweight in this sub-sector as many banks are […]


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