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NDF income fund offers guaranteed 31% growth

NDF Administration is sett-ing up a structured income fund, sold

exclusively through IFAs, which guarantees investor 31 per cent growth over

three years.

The fund is the third in a series which the company hopes will increase

its portfolio among the IFA sector.

NDF describes itself as an independent but wholly owned subsidiary of

Abbey National.

It invests in the top 50 companies listed on European stockmarkets.

As long as the market does not fall below 75 per cent of the initial

level, investors will get back 100 per cent of their capital plus the 31

per cent growth.

If the index drops by 24 points, investors do not lose any capital.

The drawback is that, ifthe market rises more than31 per cent, gains are


The product will pay 10.25 per cent annually over the three-year life of

the bond or 2.37 per cent quarterly.

Minimum investment is £10,000.

NDF Administration expects most of the money to come from new cash but its

aim is to take advantage of the millions of pounds it estimates are held in


Managing director Antony Stack says: “We believe that the combination of

bene-fits offered by the extra income and growth plan are hard to beat.

“We have been able to negotiate the best possible terms for this product.

No comparable product has ever achieved such a rating.”

There are no initial or management charges on the fund.


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Cricket - thumbnail

England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.


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