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Newcastle Tessa Isa knocks three times

Newcastle Building Society has introduced the second issue of its global guaranteed equity bond, an individual savings account (Isa) for investors with maturing tax exempt special savings accounts (Tessas).

This Isa would appeal to investors who want to reinvest the proceeds of their Tessas. It will track three stockmarket indices the FTSE 100, the Nikkei 225 and the Dow Jones Eurostoxx 50. The starting levels of the indices will be taken on July 13, 2001 and are monitored for the next five years. A monthly average is taken every 12 months and these are added together to calculate the final return. For early investments, interest equivalent to six per cent a year is paid until July 13, 2001.

Cautious investors who understand how the stockmarket works but who do not feel ready to jump into it head-first may find this Isa useful. Global stockmarkets are currently at a low point and some investors may feel optimistic that they will rise within the next five years.

Many capital protected Tessa only Isas like those from NDF Administration and Bristol & West, are linked to just the FTSE 100. In one sense, the Newcastle Building Society Isa dilutes investment risk because investors are not dependent on one index. But the downside is that one of the indices could drag down the final return, even if the other two perform well.


Standard Life makes first foray into investment trusts

Standard Life Investments has moved into uncharted waters withthe introduction of its European private equity trust. This is Standard Life&#39s first investment trust and it is aimed atmedium-risk investors, as well as institutional investors, who areseeking growth by investing in Europe. It will operate as a fund of funds. A total of 19 funds will […]

Liverpool Victoria – Mimi

Thursday, 24 May 2001.Type: Cafeteria-style protection policy covering critical illness cover, term assurance, income protection and mortgage payment protection.CRITICAL ILLNESSMinimum premium/cover: £7 a month/no minimum.Maximum cover: Subject to negotiation.Illnesses covered: Alzheimer&#39s disease (including senile and pre-senile dementia), angioplasty, aorta graft surgery, aplastic anaemia, bacterial meningitis, benign brain tumour, blindness, cancer, coma, coronary artery bypass surgery, […]

BCWA healthcare profits up

Private healthcare insurers BCWA Healthcare increased its profits by 466 per cent to £7m in 2000 from £1.5m in 1999, while its average return on investments was 8.7 per cent in 2000.Earned premiums increased by 15 per cent to £52.5m in 2000, from £45.8m in 1999.BCWA Healthcare managing director Martin Wren says: “In the absence […]

Norwich Union Healthcare increases hospital availability

Norwich Union Healthcare is increasing the numbers of hospitals available under its Fair and Square private medical insurance policy.Previously customers had access to 119 private hospitals for treatment, but the expanded list includes an additional 200 hospitals.Norwich Union Healthcare head of business development Carolyn Derrington says: “We have many more enquirers looking for the choice […]

Singapore cover image - thumbnail

White paper — Singapore International Insights

Jelf Employee Benefits assesses key trends within the international private medical insurance provision of organisations with employees in Singapore. Benefit structure, cost management and healthcare facilities are examined and key considerations are highlighted. This edition will be of particular interest to global human resource directors and benefit managers with local and expatriate populations in Singapore.


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