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Manor Park drives on fixed income & growth

Manor Park has introduced the fixed income and growth fund, an offshore closed-ended umbrella fund that has a three-year term.

The fund is linked to a basket of four stockmarket indices — the FTSE 100, Eurostoxx 50, S&P 500 and Nikkei 225. It allows investors to choose between capital growth at 35 per cent gross after three years, income at 11 per cent gross a year or income at 2.6 per cent gross a quarter for three years.

Investors also get their original capital returned, but this depends on the performance of the stockmarket indices, making this product risky than some capital guaranteed products.

All the original capital is returned if all four indices are at the same level or higher than they were at the start of the investment term. If any index is lower at the end of the term than it was at the start, the capital is reduced by 0.75 per cent for every 1 per cent fall in the index. But any fall in the index will be capped at 33 per cent.

The fund may suit investors who are looking for higher returns than building society accounts and who can afford to tie their money up for the next three years. These investors must be prepared to take some risk with their capital even if they may be reluctant to invest directly in stocks and shares. Some investors could feel the low level of the stockmarkets make this a good time to invest, but others may not consider new investments until some of the recent uncertainty has cleared.

The FTSE 100 index fell from 5214.676 points on September 21, 1998 to 4433.694 points on September 21, 2001.


Fashion house

Britannic Money head of marketing Matt Smith says: “We are proud to be working with Russell Sage. “Like us, he has a reputation for spark and originality, for turning convention on its head to create something infinitely better. We show people a new way of looking at their finances. Through working with Russell, we continue […]

Credit Suisse Asset Management changes strategy after US attacks

Credit Suisse Asset Management says it has made a tactical changes to its Income and Monthly Income funds in light of the terrorist attack on America on September 11.It has increased the “BETA” of the two funds which involves buying lowly rated economically sensitive stocks or highly rated growth stocks whose multiple has collapsed in […]

FSA relaxes resilience tests

The FSA has relaxed the resilience test rules that require life companies to sell shares to cover liabilities.The rule change is designed to avoid life companies having to sell blue chip stocks following sharp falls in share prices. The move follows a relaxation earlier this month, and follows a week of extreme market volatility. The […]

Old Mutual appoints new fund head

Old Mutual Asset Managers has appointed a new sales manager and made two promotions within its expanding national and regional sales teams.Sally Reeves has been appointed as the new national and networks sales manager. She joins from the Berkeley IFA Network where she has been in charge of corporate development for two years.Matthew Nagele has […]

International jurisdictions

By Neil Jones, Canada Life Investing through international providers has grown in popularity over recent years as investors seek out the benefits of gross roll-up and the wider range of investment options that can be available. When considering a recommendation for a lump sum investment, not only does the adviser have to select a suitable tax wrapper […]


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