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Northern Rock launches new fixed rate bonds

Northern Rock is launching three new limited issue fixed rate bonds.

The bonds will bear interest rates of 4 per cent for one year, 4.15 per cent for two years and 4.3 per cent for three years.

They will be available by postal applications or through Northern Rock branches from January 8 on investments of at least £500.


IFAs&#39 compensation levy looks set to be £800,000

The IFA sector can expect to pay a levy of about £800,000 towardsFinancial Services Compensation Scheme costs in the 2003/2004 financialyear, equating to roughly the same amount paid last year.The FSCS will have a budget of £12.4m to cover its fixed costs and ifcompensation costs are similar to this year – £43.5m – excludingpension misselling […]

FSA forced to retreat on past performance

The FSA has been forced to reverse its opposition to the use of pastperformance in promotional literature by a European Union directivecompelling fund managers to include historical performance of their fundsin prospectuses from next February.Despite its long-running opposition to the importance of past performance,the regulator will have to include the changes to unit trust and […]

IFAs and investors disagree on markets

Almost three-quarters of IFAs believe the stockmarket will be higher in six months&#39 time, according to JPMorgan Fleming. The fund manager&#39s confidence survey, conducted last month, found that 72 per cent of IFAs believe the stockmarket will be higher in June. But in a separate survey, JPMorgan found that just 23 per cent of investors […]

Abbey National launches online share dealing service

Abbey National&#39s regular trading service, providing a nominee-based share dealing account, is now available online which it says will make the buying and selling of shares quicker and easier. And it claims to be offering the cheapest charges for investors among the high street brokers. Investors can buy or sell up to £1,000 of shares […]


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