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Winterthur reissues protected pension vehicle

Winterthur Life is rolling out the second tranche of its stockmarket pension fund which gives equity-linked growth with security.

The fund is linked to the FTSE 100 index for five years and is available to all pension investors.

Winterthur believes the fund is particularly suitable for self-invested personal pensions and small self-administered schemes. It guarantees to return investors&#39 initial capital less any commission at the end of the five years.

For example, an investment of £100,000 with 3 per cent commission means the minimum return will be £97,000. There is a one-off charge of 4 per cent built into the fund.

The fund returns 125 per cent of FTSE 100 growth. Returns will be calculated by averaging the first and last years&#39 returns excluding dividends.

Overall maximum return is 200 per cent of the investment. Winterthur also pays a 25 per cent maturity bonus.

Structured products manager Laurie Fulton says: "During the last quarter of 1997, the highest FTSE 100 close was 5,330.80. The corresponding lowest close was 4,711 – a difference of well over 10 per cent.

"Particularly as a result of uncertainty in the Far East, this stockmarket volatility may well continue into 1998. In such circumstances, the stockmarket pension fund is an excellent investment."

Investment starts on March 31 and contributions received before then will be held in the Winterthur deposit fund.


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