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Leeds & Holbeck takes up with platinum bond

Leeds & Holbeck has designed the platinum access bond for investors who want to divide their investment between a high interest account and a unit-linked bond.

Up to 30 per cent of the investment goes into the high interest account from Leeds and Holbeck. This part of the product offers a fixed rate of interest at 7 per cent gross a year or 6.75 per cent gross a month until January 1, 2003. One emergency withdrawal can be made during the term.

The rest of the overall investment goes into a unit-linked bond from Norwich Union. This is called the platinum portfolio plan and offers access to a range of unit-linked funds including guaranteed, property and socially responsible funds. Norwich Union&#39s with-profits and with-profits income funds are also available and they proved to be the most popular fund link during the previous version of the platinum access bond.

The bond offers a range of fund links to suit different investment needs and objectives with the security that comes with a high interest account offering a fixed rate of interest. The two with-profits funds available may attract interest from cautious investors who have followed the downward movement of interest rates and stockmarket indices in recent months. However, bonus rates suffer when stockmarkets are performing badly and this may put some investors off.

According to Standard & Poor&#39s the Norwich Union with-profits fund is ranked 4 out of 26 funds based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to October 1, 2001.


Old Mutual hedges towards UK expats

Old Mutual Asset Managers has introduced an offshore hedge fund that is available to high-net-worth UK expatriates.The Old Mutual global equity market neutral fund is designed to meet demands for a hedge fund from investors in South Africa, where the company was founded. It is not available in the UK, but it is being marketed […]

Standard Life appoints Henderson as non-executive director

Standard Life is appointing Giles Henderson CBE as a non-executive director, replacing Bob Beamish who steps down after seven years as a non-executive director.Henderson was a senior partner at Slaughter & May and is now master of Pembroke College, Oxford.Standard Life group managing director Scott Bell says: “With his knowledge and experience I know Giles […]

Dishonour over transfer

Bryan Little is right to identify the pernicious practice of transferring policies Money Marketing, September 20).I was surprised when I got notice that a client had transferred servicing rights elsewhere and wrote to him, only to discover that what he had intended was for his employee&#39s financial advisers to get information about his current pension […]

AITC attacks discount &#39madness&#39

AITC director general Daniel Godfrey has attacked discount broking as “madness” as part of the association&#39s response to the Sandler review.Godfrey is questioning whether the framework which allows IFAs to sell funds on an execution-only basis and rebate commission is fair.He points out that consumers cannot get the same prices by going direct to the […]

Apple: a stellar technology story

By Ali Unwin, head of technology sector research

Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.

At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.


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