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MGM Assurance – Investment Portfolio Bond

MGM Assurance

Investment Portfolio Bond

Type: Unit-linked bond

Aim; Growth by investing in a range of MGM Assurance best of breed funds

Minimum investment: £5,000

Minimum-maximum ages: 18-80

Fund links: 15 MGM Assurance best of breed funds

Switches: Unlimited free switches

Allocation rates: 99.5-103.5% depending on charging structure chosen and size of investment

Charges: Enhanced allocation option – initial 5%, penalty-free option initial 5%, establishment fee option – annual 0.09-0.1% depending on size of investment for first five years

Commission: Initial 6.75% or initial 4% initial plus renewal 0.5%

Tel: 0845 758 1277


Glasgow launches Mackintosh high income fund

Glasgow Investment Managers is launching the Mackintosh high income fund managed by Susan Anderson and aiming for a net yield of 5.5 per cent a year. The fund will have a portfolio of between 35-40 UK equity holdings, with a structure similar to the Glasgow Income Trust, which invests additional finance raised through a derivative […]

IFAs slam PruHealth ‘bribe’

PruHealth has been criticised by advisers for offering a rew-ard scheme for intermedi- aries to sell its private medical insurance. The Broker Vitality scheme, which mirrors PruHealth’s consumer reward scheme, gives points to brokers who request quotes, product training, joint marketing programmes or place their own company sch-eme with the firm. Conversions of quotes req-uested […]

Investors confused about Tessa-only Isas, warns Pima

Consumers’ investment options are being limited bec- ause they are confused by marketing literature from providers about Tessa-only Isas, warns Pima. Technical adviser David Beaston says the marketing material from some firms does not make it clear that Tessa-only Isas no longer formally exist and should be treated simply as cash Isas. Beaston says the […]

Silly reason

Government plans to bring together several disparate consumer bodies, including the Financial Services Consumer Panel, into one organisation smack of little more than a Government casting around for something to do.


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