View more on these topics

Widows&#39 loan note date nears

Scottish Widows policyholders who took their demutualisation windfall as a

loan note have their second opportunity to redeem their windfall on

September 30.

The life office is sending out reminders to more than 63,000 customers who

chose loan notes to mitigate against capital gains tax liabilities.

Holders must submit their redemption instructions by August 31 to redeem

the loan in September. The interest rate payable over the current interest

period has been set at 4.83 per cent.

The first redemption date was March 31 when £340m was issued to more

than 49,000 loan note holders.

Cheques for the value of the loan note will be posted on September 27 and

a separate payment will be made for interest from March 31 to September 27.

The interest is paid net of 20 per cent income tax.

There will be further opportunities to redeem loan notes every six months

until March 31, 2008.

Recommended

Towry Law leaves a sad legacy to the industry

As a former employee and director of the Towry Law Group for over 16years,I am saddened by the fact that the legacy being left to the financialservices industry by Towry Law would appear to be a misselling liability of£30m, which will have to be picked up by other IFAs, including myself,via the Investors&#39 Compensation Scheme. […]

Woolwich in L&G gap-filling deal

Woolwich is to offer Legal & General protection products through its UK distribution channels from October 2001.The L&G deal is part of a restructuring of Woolwich&#39s salesforce that will see sales of all long term savings, investments and pensions moving to Woolwich Independent Financial Advisory Service later this month.Woolwich chief executive Lynne Peacock says: “L&G&#39s […]

Table turmoil as our research reveals charge/return reality

The FSA&#39s comparative tables were dealt yet another blow this week as newresearch conducted for Money Marketing revealed that lower-charging fundshave consistently produced lower returns.Figures compiled by investment selection service Shouts show that, onaverage, funds with annual charges of 1 per cent or less produce returns upto 30 per cent lower than funds with annual […]

New Star Asset Management – New Star European Growth Fund

Tuesday, 10 July 2001.Type: Oeic.Aim: Growth by investing in European companies.Minimum investment: Lump sum £1,000, monthly £100.Investment split: 100 per cent in European equities excluding UK.Isa link: Yes.Pep transfers: Yes.Charges: Initial 5.25 per cent, annual 1.5 per cent.Commission: Initial 3 per cent, renewal 0.5 per cent.Tel: 0845 6088702 

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com