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Scottish Mutual launches property plan alternative to equities and bonds

Abbey National is offering a commercial property plan under its Scottish Mutual brand as an alternative to equity and bond investments.

The plan is a single-premium investment maturing on January 15, 2013 and is being marketed in association with Westbury Asset Management and Knight Frank.

Abbey says over the last decade the commercial property market has delivered gross returns over 10 per cent. Investors will be able to choose between an income and a growth fund.

It will be open for investments between October 21 and December 20, unless fully subscribed before. Applications before November 22 will get a 0.5 per cent discount per share.

It will be available via Isas and Pep transfers, Sipps, SSASs or direct-share investments and will be listed in Dublin but domiciled in Guernsey.

Abbey National director of sales and marketing Ambrose McGinn says: “Recent turmoil in the financial markets has highlighted the need for investors to achieve diversification of assets in the quest for long-term wealth creation.

“This plan, which is operated by a team of experts in portfolio management, asset allocation and property inv-estment and management, brings retail investors direct access to the benefits of commercial property and opens up the potential for strong returns. Once again we are providing leading-edge and innovative solutions to suit the needs of our investors.”


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