SANDLER SUITE 5 *** Details of the product range

Time is the key to the three different product types proposed by the Treasury today: short, medium and long-term products to meet different investor needs. The short-term cash vehicle - a rebranded CAT-standard cash ISA - will enable people to save without exposure to equities. Medium term investments will be allowed in either collective investment scheme or lifer form, including using smoothing to lower volatility - despite objections from some responses that with-profits products would be too complex to fit into a regime for simplified products. What remains to be see...