View more on these topics

Scottish Mutual goes for tailored cut

Scottish Mutual has designed the tailored flexible trustee investment
plan for trustees of occupational and personal pension investors who
are looking for a pooled investment option.

It provides access to a range of Scottish Mutual pension funds
including managed, with-profits, European equity and North
American equity.

Trustees can choose up to 10 funds and are allowed to switch
between funds without charge. They can make regular and single
contributions which can be stopped, increased and reduced at any

This plan differs from Scottish Mutual&#39s classic flexible trustee
investment plan as it provides access to institutional funds at a lower
contribution level than normal, which is an unusual feature. This may
be useful as trustees with smaller sums to invest can gain greater

Similar products aimed at pension fund trustees include Skandia&#39s
trustee investment bond, which provides access to a range of
Skandia funds and those from external fund managers including
Aberdeen and Schroders. Like the Scottish Mutual product, it has
unlimited free fund switches but trustees of smaller schemes may
prefer Scottish Mutual because of the access to institutional funds at
a reduced contribution level.

According to Standard & Poor&#39s, 10 out of 18 Scottish Mutual pension
funds are top quartile and eight are bottom quartile based on £1,000
invested on a bid-to-bid basis with net income reinvested over three
years to August 6, 2001.


Mercantile brings in fixed rate

Mercantile Building Society has introduced the two-year fixed rate mortgage.Specifically aimed at first-time buyers in the North East of England, the mortgage has a fixed rate of 5.49 per cent until August 1, 2003 for loans of up to 80 per cent of valuation.The mortgage can be used to buy properties in Northumberland, Tyne & […]

Drawdown deal on Equitable funds

Specialist IFA The Drawdown Bureau has come up with a way of removingfunds in drawdown from Equitable Life without incurring exit penalties.Draw-down policyholders who want to leave the company can take maximumincome from their existing plan which will not be subject to an MVA. Thiscan be up to 8 per cent of the fund as […]

Super-ethical fund for Islamic community

Indian financial services group Parsoli has teamed up with Gerrard andCity Financial to offer a super-ethical fund targeted at the UK Islamiccommunity. The Parsoli global Islamic equity fund will invest in blue-chipcompanies across the globe which do not make their returns from fixedinterest, gaming or gambling, the manufacture of pig or pork products oralcohol. The […]

Midshires chooses managing director

Halifax specialist lending arm Birmingham Midshires has appointed DanWatkins as managing director. He succeeds Ian Kerr, who has left to take upa senior role within the combined Halifax/Bank of Scotland group. Watkinswas previously Midshires director of mortgages and savings and has beenappointed to lead it through its transition to sub-prime lender later inthe year.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm