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Six-year plan from Meteor

Meteor Asset Management has launched the protected FTSE deposit plan, offering a potential growth payment of 45 per cent at maturity.

The six-year plan is linked to the performance of the FTSE 100 and offers a 45 per cent investment return, provided the index is at or above its
opening level at maturity. It is designed to return 100 per cent of the original investment at maturity, regardless of index performance.

Direct investments into the plan will be invested in deposits with Standard & Poor’s A+ rated Royal Bank of Scotland. Should RBS fail to meet its liabilities, Meteor understands that clients holding direct investments may have recourse to the Financial Services Compensation Scheme.

Minimum direct investment is £10,000. The plan is subject to income tax and is available as a direct investment, via pension funds (Sipp/SSAS)
as a stocks and shares Isa, including transfers from stocks and shares and cash Isas, as well as for corporate investors and trustees. IFA commission is 3 per cent.

Managing director Graham Devile says: “A number of advisers see this type of product as a good defensive approach to investing in the FTSE 100 in the current investment climate.”

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