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ScotMut combines tech and with-profits

Scottish Mutual is combining investment in technology and with-profits in a single-premium unit-linked bond.

With Profits.com allows investors to choose the most appropriate split to suit their circumstances between its technology fund and with-profits fund.

Minimum investment is £5,000 and maximum £500,000 although there is no minimum or maximum proportion that can be invested in either fund.

The technology fund invests mainly in the biotechnology, medical technology, telecoms and media sectors of North America.

Investors can reduce their exposure to technology by transferring to the with-profits fund. However, they cannot make switches from with-profits to technology.

The bond, which has no fixed term, offers a with-profits bonus rate of 5.25 per cent. Annual charge is 1.5 per cent. Commission is normally 6.25 per cent although there is a range of options including initial and trail commission.

Product development consultant John Gibbons says: “With Profits.com is a true innovation in the investment market. We believe strongly in the exciting growth offered by the technology market but we also remain committed to a rigorous investment process which seeks to balance risk with reward and only invests in companies and sectors where we can identify long-term potential.”

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