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Trust rejects restructuring proposal

The £1.1bn Scottish Investment Trust has rejected a proposal from two of its institutional shareholders for a radical restructure. Hermes and Axa submitted what the board has called a “complex and costly” proposal to turn the fund in to a split fund, with the assets divided into a UK index fund and a managed fund. The board believes this leaves investors bearing increased costs for an uncertain outcome and is calling on the support of 35,000 shareholders who own 55 per cent of the trust.

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Court action is only option left on pension review

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&#39Keep money-back annuities simple&#39

The Annuity Bureau is urging the Government to keep money-back annuity products as simple as possible and says they could provide the answer to many of the criticisms of annuities.It says money-back annuities already exist in the form of purchased life annuities.These are voluntary annuities bought with an individual&#39s own funds to supplement income and […]

Northern Rock Guernsey – Offshore Fifty Fifty Issue 8

Tuesday, June 18 2002 Type: Offshore guaranteed equity bond and high interest account GUARANTEED EQUITY BOND Aim: Growth linked to FTSE 100 index Minimum-maximum investment: £5,000-£2.5m Term: Five years Guarantee: Original capital returned in full at end of term Return: Up to 75% of growth in the FTSE 100 index over term Closing date: July […]

Rock fixed-rate bonds offering up to 5.35%

Northern Rock has introduced three fixed-rate bonds investing over different periods and a combined fixed-rate bond and equity tracker product called Fifty:Fifty Issue 9.Its one-year fixed-rate bond offers gross interest of 4.75 per cent until July 1, 2003. It is also offering bonds paying 5.2 per cent until July 1, 2004 and 5.35 per cent […]

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