Norwich Union is offering a second tranche of its guaranteed growth plan featuring a minimum return of 20 per cent.
The plan has been designed to provide a return of 20 per cent after six years, regardless of what happens in the FTSE 100. Alternatively, it will return 60 per cent of the growth of the FTSE 100 – averaged over the last six months of the plan – whichever is higher.
The plan is a six-year single-premium product and will be available for six weeks from 1 November. It can be held as a direct investment or held in an Isa, or as a Pep transfer with a minimum investment is £3,000.
Head of investment product development Neil Davies says: “The plan has been very popular with customers because if the plan is held for its full term they will see their money grow whatever happens to the FTSE 100. They like the idea of the minimum return if the stockmarket falls and the possibility of an even better return if the stockmarket does well.”