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Standard aims for £8bn with WP bond debut

Standard Life is launching its first with-profits bond amid industry forecasts the market is set for growth.

It aims to take 10 per cent of the £8bn with-profits market within a year of its launchnext month.

The news follows Prudential Intermediary Division&#39s aggressive IFA-focused drive to raise sales of its with-profits Prudence bond which re-launched last week.

Standard says, as the only big mutual left in the market, it is expecting to offer uniquely high returns as it does not have to generate profits for shareholders.

It says the new bond will beat returns from bank or building society deposit accounts.

The new bond is being invested in Standard&#39s with-profits fund in a bid to cut down on the impact of the fluctuations associated with direct investment in the stockmarket.

The company says thebond will have a high proportion of its asset allocation in equities, hoping over the long term this will mean greater potential for higher returns.

The product is targeting low to medium-risk investors who are looking for a lump sum investment for a sustained capital growth or for an income.

Assistant general manager (marketing) Graham Storrie says: “As probably the only strong mutual offering a with-profits bond, we will be unique in the market.

“It is a very important market for IFAs and one which we expect is going to grow.”

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