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Neville James goes for TEP/zero split

Neville James Fund Managers has introduced the Neville James secure capital growth fund.


The fund is an open-ended investment company (Oeic) based in the Isle of Man and is aimed at cautious investors who are looking for a low-risk product that will provide capital growth.


Secure capital growth will invest in traded endowment policies (TEPs) and zero dividend shares. TEPs are endowment policies that have been surrendered before they reach maturity and are then traded on the endowment market.


The recent bad publicity about endowments has lead to an increase in the numbers of these products being surrendered early and as a result this has made the TEP market quite buoyant. As both TEPs and zeros are subject to capital gains tax only, the secure capital growth fund should appeal to long-term investors who are looking to minimise their tax liabilities and want low levels of risk.


According to Standard & Poor’s the Neville James with profits plus fund is ranked 45 out of 101 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to October 23, 2000.

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