View more on these topics

Scottish Mutual marries tech and with-profits funds

Scottish Mutual has introduced, a unit-linked bond that allows investments to be split between a with-profits fund and a technology fund.

The technology fund focuses mainly on technology stocks in North America and can include biotechnology, telecommunications and media stocks. The annual bonus rate for the with-profits fund is currently 5.25 per cent. Investors can take regular income and make one-off withdrawals.

The bond aims to produce capital growth and income over the medium to long term. Investors can choose how they want their investment to be split between the two funds. Those who want to take a higher level of risk may decide to invest most of their capital in the technology fund, whereas other investors might prefer to invest equally between the funds. Less adventurous investors could opt for greater exposure to the with-profits fund, with only a small percentage invested in technology.

Technology is highly a volatile sector that tends to attract experienced high-risk investors. On the other hand, with-profits funds are traditionally seen as a halfway house between building society accounts and stockmarket investments. Although the bond&#39s marriage between technology and with-profits is innovative, it could be seen as a mis-match that does not meet the requirements of either type of investor.


First National Mortgage Company – Fresh Start 80 Self-Cert Fixed

Thursday, 19 April 2001.Type: Fixed rate self-certification mortgage for customers with adverse credit histories.Fixed term: Until August 31, 2002.Fixed rate: 7.49 per cent.Minimum loan: £25,001.Maximum loan: Up to 80 per cent of valuation subject to a maximum of £500,000.Income multiples: 3.5 times principal income plus second or three times joint.Arrangement fee: Purchase price of up […]

Opra blocks links to IFAs on its website

Opra is refusing to offer access to independent financial advice through its website because it believes IFAs will sting vulnerable small businesses with “unnecessary fees” for stakeholder advice. IFA Promotion wants Opra to rethink its position and include an Ifap link but Opra is determined to send out the Treasury-style message that stakeholder does not […]

Zurich Financial Services cuts 550 jobs

Zurich Financial Services is cutting 550 jobs which will see 170 staff made redundant at its Swindon and Cheltenham offices. The cuts follow the merging of Zurich&#39s UK and international life businesses.Zurich says the cuts will save £65m a year, representing 15 per cent of the company&#39s operating costs, although no jobs will go within […]

A pension policeman&#39s lot is not a happy one

Given that the Occupational Pensions Regulatory Authority has limited resources, no records of schemes being designated and no means of checking which firms have more than four employees, the only method of policing stakeholder compliance appears to be employee whistleblowing. Do the panel feel this is adequate? – Name and address supplied. NB: Whistleblowing will […]


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 thought leadership.

    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