Intermediary group the David Aaron Partnership has linked up with Morgan Stanley to launch an Income...
Intermediary group the David Aaron Partnership has linked up with Morgan Stanley to launch an Income & Growth Plan, linked to the FTSE 100.
The five-year plan offers growth, annual income and quarterly income options as a direct investment or via a Pep or Isa wrapper.
The income option pays 3.7% per year and offers the greater of 100% of capital returned or 100% of capital plus up to 44% growth. The quarterly income option offers 0.88% per quarter, totalling 19.36%, with the same guarantees as the income option.
The growth option offers the greater of 100% of original capital plus a minimum 22% growth with a maximum return of 100% of capital plus 44% growth.
The potential 44% bonus available is determined by the sum of the quarterly returns in each of 22 three-month periods, with returns capped at plus or minus 3% per period.
David Aaron, chairman and chief executive of the group, said: 'This contract meets the requirements of those who want a higher income than that offered by most building society deposit accounts with the potential for higher bonuses should the stock market perform well.'
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