M&G to launch first protected Isa

M&G is to offer its first protected Isa product between 6 April and 19 May. The M&G Protected Isa offers investors return of original capital after five years plus 80% of the growth in the FTSE 100. Investors can invest a lump sum of between £500-£5,000 and IFAs will be paid 3% commission but receive no renewal. The charging structure is built into the product but M&G estimates that it is around 5.1%, out of which the IFA commission is paid. The majority of money raised will go into a medium term loan note provided by investment bank Jackson National. The loan note itself invests in corp...