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SLI fund gives risk options

Scottish Life International has set up an investment bond which it says offers investors the possibility of attractive returns for defined levels of risk.

The select income & growth bond 3, available through IFAs until October 18, gives the choice of income or growth with the two risk options of opportunity and cautious.

The opportunity option offers 10 per cent gross income each year for three years, or 2.4 per cent gross income per quarter, or up to 32 per cent gross growth at the end of the term.

The cautious option offers 8 per cent gross income each year for three years, or 1.9 per cent gross income per quarter, or up to 25.5 per cent gross growth at the end of the term.

Investors will still get these returns even if these indices fall by up to 30 per cent. They can also opt to split their investment equally between the two opt-ions. Returns are linked to FTSE 100, S&P 500 and Euro Stoxx 50 indices.

The cautious option has the additional safeguard of giving investors the full return of their initial investment even if one or more of the indices falls by more than 30 per cent, provided that all three indices recover to 85 per cent of their initial level by November 24, 2005.

Minimum investment is £10,000. Initial commission is 3.5 per cent.

Director of marketing development Neil Lovatt says: “With interest rates now at historic lows, many savers are looking for higher returns than savings accounts can offer but with more security than direct investment in the stockmarket, where performance has been volatile over the last three years. In response, we have designed our third in our series of select income and growth funds.”

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