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Toisa pledges to lock in index-linked return

Key Data is offering a new Tessa-only Isa fund with a lock-in which guarantees investors at least a 5 per cent annual return.

The fund tracks the FTSE 100 and guarantees if the index grows by 25 per cent at any time during the five-year investment period, that growth will be locked in.

If the index fails to hit the 25 per cent mark, the inves-tor will receive the equivalent of any growth in the index. Investors will also get half of any further growth above the 25 per cent mark.

The initial capital is guaranteed as long as investors remain in the fund for the five-year duration.

This launch is the first of three tranches, running through to mid-October.

Despite its name, the FTSE lock-in Toisa, which is backed by Newcastle Building Society, is also available as a mini cash Isa. Minimum investment is £3,000 for transfers from Tessas and mini cash Isas.

By combining the maximum £9,000 Tessa allowance and £3,000 mini Isa allowance, up to invest up to £12,000 in the fund. The offer closes on July 22. Commission is 2 per cent.

Retail sales director Mark Owen says: “The product is designed to be safe and secure and to deliver a sensible return to the investor through its lock-in function. If this is triggered, it means investors will get at least 5 per cent a year return.”


Standard would accept business fall as it bides its time on distribution

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High hopes, low success rates

Most national brands have moved a significant part of their focus to the high-net-worth sector in recent years and, consequently, have some variant of a wealth management model. Probably hundreds of millions of pounds have been invested in a myriad of initiatives, yet most of us would be hard-pressed to identify more than one or […]

State Street Global Advisers – StreetTRACKS MSCI Pan-euro

Thursday, 13 June 2002 Type: Exchange traded fund Aim: Growth by tracking the MSCI Pan-Euro index Minimum investment: Subject to negotiation with stockbroker Maximum investment: None Place of registration: UK Isa link: Yes Pep transfers: Yes Charges: Annual 0.5% Commission: None Contact:

Close unit trust mimics VCT

Close Venture Management, the venture capital trust division of Close Brothers, has established an offshore unit trust that invests mainly in property within the hotel, care home and residential sectors. The healthcare and leisure property trust was designed in conjunction with Close Property investment. It aims to provide income of 7.5 per cent a year […]

Value for money in DC pensions

The Pension Policy Institute (PPI)’s recent report “Value for money in DC pensions” tries to identify factors by which people can assess whether their pension offers fair value for money (VFM). Fiona Tait provides an overview of the findings. Positive Outcomes It is extremely hard to assess VFM in a pension. Press activity naturally focuses […]


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