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Meteor launches property recovery plan

Meteor Asset Management has launched a new kick out plan linked to the performance of a property index.

The property recovery plan is a six-year plan that offers 10.5 per cent at the first anniversary providing the FTSE EPRA Europe index has not fallen from its opening level.

Should the index not be at the opening level after 12 months the plan will roll on offering 21 per cent after two years should the index reach its opening level at that point. This will continue cumulatively until maturity.

Capital is only at risk if the index falls below 50 per cent of its opening level at maturity. Should that happen, losses will be at a 1 per cent for every 1 per cent fall in the index.

Minimum investment is £10,000 for direct investments and £7,200 for Isas. Closing date for the plan is June 27, 2008.

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