Norwich Union has added four more funds to its list that investors can choose from for its Bicentena...
Norwich Union has added four more funds to its list that investors can choose from for its Bicentenary Bond and Norwich Flexibond.
It has added the NU Higher Income, the NU Ethical UK Equity, the NU Equity Income and NU UK Growth funds to the list which also includes the NU With-Profits Fund, three managed funds, and 18 other investment links.
Norwich Union has also widened the age range on the two bonds from the previous range of two to 84, to birth to 90. The two bonds, which have a minimum investment of £5,000, also have improved allocation rates of 102.25% up from 101.5% for investments of £15,000 to £25,000.
The firm has made changes to its Norwich Bond 2000. It has reduced the early cash in rates from 7% to 6% in the third year, 5% to 3% in the fourth year, and 4% to 1% in the fifth year.
It has also extended the ability to take out additional bonds, which was previously only available on the Norwich Flexibond, to both the Norwich Bond 2000 and the Bicentenary Bond.
These additional investments receive enhanced bond rates based on their earlier investment. An investor, who originally took out a £50,000 bond at a bonus rate of 4.2% would receive the same rate on second bond of lower value.
Oversees £30bn of advised and D2C assets
£1bn business since inception
Considered doing so in 2015
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