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Meteor Asset Management – FTSE 5 Quarterly Defensive Plan 6

Meteor Asset Management – FTSE 5 Quarterly Defensive Plan 6

Type: Capital-protected bond

Aim: Growth linked to the performance of five FTSE 100 companies in different sectors – BP, GlaxoSmithKline,HSBC Holdings, Marks & Spencer and Rio Tinto

Minimum-maximum investment: £10,000-no maximum, Isa £11,280

Term: Five years and two weeks

Return: 4.5% growth for each quarter the plan is invested payable from the ninth month of the term, plus original capital, provided all five shares are at or above 85% of their initial values

Protection: Original capital returned in full at the end of the term provided none of the shares falls by more than 50% by the final day of the term

Closing date: June 13, 2012 for bank transfers, June 8, 2012 for cheques, May 30, 2012 for Isa transfers

Commission: Initial 3%

Tel: 020 7904 1010


Tenon cleared of unfair dismissal

RSM Tenon has been cleared of unfair dismissal of a former senior manager who accused the firm of false accounting. Duncan Swift, who was director at the Southampton office, said Tenon made him redundant after he blew the whistle on poor practices in its recovery division. Swift claimed he recognised revenues on insolvency contracts which […]

Martin and Findley step down at RSM Tenon

RSM Tenon chairman Adrian Martin and deputy chairman Michael Findley are stepping down after only three months. They were appointed to their roles in January after chairman Bob Morton and chief executive Andy Raynor stepped down. Martin is to step down once a successor is found while deputy chairman and senior independent director Findlay, who […]


Prudential Regulation Authority to be based in Moorgate

The Prudential Regulation Authority’s new headquarters will be in Moorgate and cost up to £1m a year more than remaining at its current Canary Wharf base. The Bank has signed contracts for 20 Moorgate until 2027. It says the annual extra costs of the property will be “less than £1m per year over the next […]

Christchurch fined for client cash failures

The FSA has fined financial planning and portfolio management firm Christchurch Investment Management £26,600 for failings to adequately protect client money. Compliance officer David Thornberry has been fined £11,550 and banned from acting as a compliance officer or having responsibility for client assets, the first time the FSA has issued such a ban. Firms are […]


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