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SG Hambros links deposit account to FTSE movements

SG Hambros is introducing a three-year deposit account which offers 3 per cent annual income along with stockmarket-linked growth and 100 per cent capital protection.

The FTSE 100-linked deposit account is designed for risk-averse cash investors who want to outperform interest rates in the medium term.

The account guarantees to pay 3 per cent income a year. At the end of three years, depositors will receive a bonus of 25 per cent of any rise in the FTSE 100 in the final 18 months of the term.

SG Hambros will take the average of the index&#39s closing levels for each of the 18 months to November 23, 2004 and calculate any gain from the launch date of November 23, 2001.

Minimum investment is £50,000 and there are no fees for setting up the account. The closing date for deposits is November 21, 2001.

SG Hambros is part of SG Private Banking, an investment-led private bank providing a wealth management service.

Head of product development Andrew Popper says: “The account gives clients access to investments that protect their capital and ensure a minimum annual return while providing them with the opportunity to participate in the rise of stockmarkets.”

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