View more on these topics

Lazard offers life insurance option on personal portfolio service

Lazard Asset Management is adding a life insurance option to its successful Personal Portfolio Service.


The new Capital Pledge option, provided through M&G Life, will provide a capital payment of at least 101 per cent of the original sum invested in the event of the death of the insured investor.


Lazard director Rupert Tyer says the product is designed to make the group&#39s discretionary portfolio service – which has attracted more than £200m under management in less than three years – more attractive to IFAs.


&#34This is an increasing part of the asset management market and we want to remain a leader in that market,&#34 Tyer says.


He says the new product has been developed for investors wanting to take advantage of equity investments while preserving capital for the benefit of surviving relatives and other beneficiaries in the event of death.


The added cost for the new product is 0.1 per cent per year. There is no maximum age limit.


The portfolio service is a discretionary investment service offering four portfolio choices and three income options. It has a minimum investment of £20,000 and carries an initial charge of 4 per cent and 1.5 per cent annually.

Recommended

Northern Venture Managers launches second VCT to attract £25m

Northern Venture Managers is launching a second venture capital unit trust fund that is aiming to raise £25m.The Northern 2 VCT trust will be listed on the London Stock Exchange. The offer period for tax year 1998/99 will remain open until April 5 and until April 12 for tax year 1999/2000.The minimum investment is £5,000, […]

Treasury expected to publish stakeholder proposals today

The Treasury is expected to publish its response to the stakeholder green paper this afternoon.The leaked proposals are expected to detail how collective investments such as unit trusts, ISAs and Oeics can fit within a new pensions framework.It has been suggested that the new collective investment product can be fitted to the stakeholder and will […]

David Aaron Partnership launches guide to top 50 Peps

The David Aaron Partnership is publishing a 37 page guide to the &#39Top 50 Peps.&#39The guide covers the outlook for world stockmarkets, all the different types of Peps and how the new tax credit system will work.It also explains to investors the risks and potential awards of investing in Peps and lists the larger Peps […]

Isle of Man in fraud crackdown

The Isle of Man Government aims to crack down on fraud with a new code to fight money laundering.The code strengthens the record keeping, systems and training requirements for financial services managers.It has also held a series of seminars for senior managers in financial services and will hold a further series of workshops in March.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment