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Pru bond revamp gives higher income option

Prudential is introducing an option within its Prudence bond which offers a higher annual bonus for investors seeking a regular income.

The Optimum bonus bond gives investors a higher annual bonus by investing in funds weighted towards fixed-interest securities such as corporate bonds and gilts.

The existing Prudence with-profits bond will be renamed the Optimum Return bond and will focus on growth over the medium to long term by weighting its investments towards equity-based instruments.

The Optimum bonus bond has an annual bonus of 5.75 per cent and terminal bonus of 1 per cent. The Optimum Return bond has an annual bonus of 4.5 per cent and a terminal bonus of 2.75 per cent.

Investors can split their investment between the two funds for both growth and income and switch between them. Current investors will also be able to switch between the funds.

Bond marketing strategy manager Campbell Boyd says: “By introducing the new Optimum bonus bond, we are widening the appeal of this type of investment to a greater number of clients. By operating them side by side, advisers will be able to compare and contrast the two funds directly in order to recommend the option which should best meet the different investment goals of clients over the medium to long term.”


IFA guide aims to boost consumer confidence

IFA Momentum Financial Services is publishing a Guide to Savings and Investments which it hopes will lead to increased consumer confidence when choosing financial products. Momentum says it has produced 100,000 copies of the glossy A5 guide in response to increasingly sophisticated consumers demanding more appropriate information on their investment options. The 12-page guide focuses […]

RLAM to run National Assembly pension fund

Royal London Asset Management has been appointed by the Northern Ireland National Assembly&#39s pension trustees to manage members&#39 pensions. RLAM will now manage funds worth £3m after winning what it describes as a competitive tender for the business. The fund will form part of RLAM&#39s pooled pension fund launched last June. RLAM has £18bn in […]

Baring wins Somerfield pension scheme

Somerfield Pension Scheme is appointing Baring Asset Management as manager of its £60m UK fixed income portfolio.The benchmark will be a composite of conventional and index-linked gilts. The objective for the fixed income mandate is to outperform the benchmark by 0.75 per cent a year. Baring director Patrick Seth says: “This win represents another significant […]

&#39Don&#39t tree-walk our clients&#39

Staffordshire IFA Roberts Clark Independent Financial Solutions is writing to life offices to warn them off taking its clients through decision trees amid fear of losing stakeholder payments. The move comes as Axa Sun Life unveils plans to deal with the FSA&#39s interpretation of the indirect benefit rules, which effectively blocks IFA commission if life […]

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Preparing for the changes to the pensions market

As more and more providers start to reveal their stance on the charge cap and removal of commission and active member discount pricing, we thought it would be worthwhile to look at what these are, and the steps businesses should be taking to prepare for this.


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