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Second issue of National Savings equity bond

National Savings and Investments is offering a second issue of its guaranteed equity bond following the success of the first issue in March.

The five-year bond allows investors to gain from growth in the FTSE 100 index while offering 100 per cent capital security on investments of between £2,000 and £1m – or £2m for joint investments.

Investors receive all the proceeds of growth in the index, without fees or charges, subject to a maximum gross return of 70 per cent. The offer period runs until August 28, during which time investments will earn interest of 3.5 per cent a year, paid at maturity.

After the last issue, almost 5,000 people asked to be informed about issue two. National Savings and Investment commercial director Gill Cattanach says: “After the success of our first equity-linked bond, we wanted to offer customers another opportunity to invest in a similar, equally secure and straightforward bond.”


N&P appoints marketing man

Norwich & Peterborough has announced an appointment to its board as Mike Hounsell joins the building society as marketing and sales director.Most recently, Hounsell has worked for Broadband communications player NTL as chief marketing officer. Prior to that he worked for American Express UK, where he was responsible for product and brand marketing.N&P chairman Keith […]

LloydsTSB set to enter sub-prime mortgages

LloydsTSB is poised to enter the sub-prime mortgage market and is recruiting senior managers and directors for the new division, according to industry sources.One industry source says the bank, which owns mainstream lender Cheltenham & Gloucester, is not considering acquisitions but has instead appointed a recruitment consultancy, Maloney Search, to recruit staff from potential rivals.Another […]

Independent view

As some of you may have read, after 14 years running a stand-alone IFA, Ray Peyre and I have sold 50 per cent of our company to Aegon UK.I do not want to use this column to discuss my own business but I would like to show why part of the reason for our decision […]

Misys IFAs may have to switch

Misys&#39 IFA members could be forced to change networks as the firm revamps the structure of its distribution channels ahead of the FSA&#39s CP121 depolarisation plans.The company&#39s plan to float its IFA business as a single entity is likely to see a restructuring where IFA Network becomes the home for independent advisers while multi-tied advisers […]


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