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New Star plan has income or growth with protection

New Star is teaming up with Credit Suisse First Boston to set up a structured product offering investors high income or growth with a degree of capital protection.

The New Star income or protected capital plan is a five-year product offering returns linked to the performance of stocks in the Dow Jones Global Titans index of 50 individual global large-cap stocks.

It has two income options. The first is an annual option with fixed income of 10 per cent and 50-100 per cent repayment of capital at maturity depending on the performance of the stocks in the index. The second option is 2.25 per cent income per quarter and 55-100 per cent capital repayment depending on the stocks.

The growth option provides up to 55 per cent growth over five years and returns 100 per cent of investors&#39 capital at maturity. Maximum returns will be paid as long as no underlying stock falls by more than 30 per cent by the end of the period.

Minimum investment is £7,000. Initial charge is 2.5 per cent. Commission is 3.25 per cent. It is available as an Isa and Pep transfer.

Director of structured products group Ravi Anand says: “We are primarily known for active fund management but we recognise that many invest-ors are looking for products offering income or growth with protection of capital.”

BestInvest structural product analyst Charles Barlow says: “We are not keen on products that do not have a minimum guaranteed bonus. We will cover it but not actively recommend.”


BIA sets up support firm

Berkeley Independent Advisers is setting up an IFA support services arm for firms which do not want to pay for its set menu of network services. Berkeley Support Services will offer the flexibility to choose services while remaining directly authorised. It has held talks with 15 firms interested in signing up, with the biggest having […]

State Street Global Advisors – StreetTRACKS AEX Index

Wednesday, 12 June 2002 Type: Exchange traded fund Aim: Growth by tracking the AEX index Minimum investment: Subject to negotiation with stockbroker Maximum investment: None Place of registration: UK Isa link: Yes Pep transfers: Yes Charges: Annual 0.3% Commission: None Contact:

Standard Life keeps its triple A rating

Standard Life has had its AAA rating reaffirmed by independent ratings agency Standard & Poor’s. S&P says the triple A rating for financial strength, the highest possible, was awarded for the company’s “extremely strong capitalisation, extremely strong business position, very strong operating performance, and strong management team.”Standard Life group finance director John Hylands says: “We […]

Momentum appoints Leeds regional head

Momentum Financial Services is appointing Wendy Linnie as financial services manager at its Leeds office. Linnie joins Momentum from Dutch financial consultancy Eeuwijk Accountancy and has worked in financial services for 14 years, including 12 years with Standard Life.

Tax year-end planning for annual allowance

Last tax year-end there was a lot to think about in relation to planning. The introduction of the tapered annual allowance and the implications of moving to a fixed pension input period, the reduction in the lifetime allowance and potentially applying for protection, and the concern about changes to tax relief, to name a few. […]


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