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Standard Life bond is pulling in £4m a day

Standard Life says its with-profits bond has taken £100m in new business since its launch in August.

The company says this averages £10m a week. Sales have reached around £4m a day, it says. The bond is aimed at achieving sustained growth capital or producing an income.

The life office says it sees the key attraction of the with-profits bond as the choice it offers with its reversionary bonus rate, the clarity it provides on the investment risk and its potential for long-term growth. A high proportion is invested in equities to offer greater potential returns.

Standard believes the increasing number of new customers shows it is on target to achieve its goal of securing 10 per cent of the with-profits bond market during the first 12 months of the launch.

Assistant general marketing manager Colin Ledlie says: “Our with-profits bond is transparent and easy to understand and we offer the possibility of higher returns than bank or building society deposit accounts. Our mutual status means Standard Life is free from the demands of generating profits for shareholders and allows us to focus on providing competitive returns for our with-profits policyholders.”

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