Skandia Life is launching a protected product that will be linked to four leading funds from the S...
Skandia Life is launching a protected product that will be linked to four leading funds from the Skandia Multi-Manager range.
To reduce volatility the product is linked to funds from three market sectors, UK equities, UK bonds and commercial property, with 50% of the portfolio exposed to two funds in the UK All Companies sector. Some 20% of the portfolio will be in Andy Brough's Schroder Mid 250 fund, 30% will be weighted in Anthony Bolton's Fidelity UK Special Situations fund, 25% will be invested in the Invesco Perpetual Corporate Bond fund and 25% will be in the Norwich Union Property fund.
The product provides investors with two options, one providing a minimum capital return of 100%, plus 100% of the quarterly average growth of the underlying funds over the term of the product with no upper limit.
Option two provides a minimum capital return of 80%, plus 200% of the funds quarterly average growth.
Nine in 10 do not have income protection
Set to become part of Single Financial Guidance Body
Also plan to scrap NI on contributions
Eight-week high against US dollar
Lower cost option for advisers