UK Money News
23rd June 2008
Abbey issues new Guaranteed Growth Plan
Abbey is poised to launch a new investment product offering a guaranteed return of five per cent over 3.5 years or 50 per cent of the FTSE 100 index (capped at 35 per cent).
According to the lender, the Guaranteed Growth Plan has been devised to allow investors to gain "access to the stock market" but also provide them with the "security of a capital guarantee".
The rate of return increases for longer term maturities, with a rate of per cent applying for six years or 50 per cent participation in the FTSE 100, capped at 60 per cent.
Reza Attar-Zadeh, head of savings and investments at Abbey, said "Abbey's Guaranteed Growth Plan gives investors exposure to equity markets without putting their capital at risk.
"It also ensures them a guaranteed minimum return, regardless of the stock market performance. We believe that this remain an attractive option for those with a cautious attitude to risk in the current environment."
Entry to the plan can be secured with a minimum investment is £1,500.
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