UK-based Scottish Widows has launched a new Capital Protected Fund 10, with a cash investment period from February 4, 2009 up to June 11, 2009.
The company said that the term of the product is six years with capital 100% protected, if held for the full term, and 150% participation in the performance of the FTSE 100. The cap on growth is 50% of the original investment.
The Capital Protected Fund is available as an open-ended investment company (OEIC) investment or as an individual savings account (ISA) providing the further advantage of a tax-efficient environment in which to grow, said Scottish Widows. The minimum investment amount is GBP3,000 and maximum is GBP250,000 in an OEIC and GBP7,200 in an ISA. The Capital Protected Fund is available through Lloyds TSB branches, direct from Scottish Widows or through independent financial advisers.
Gordon Greig, head of savings and investment at Scottish Widows, said: Our new Capital Protected Fund is ideal for those who want to benefit from the potential upside of the stock market, but would like the peace of mind of knowing that they will be protected if the FTSE index falls. Those who have the cash to invest over six years should benefit from this savings vehicle, with the potential to earn a higher return than a conventional deposit account.
We have launched this product to encourage those who want to save but don’t want unnecessary risk, an element which is clearly very important to savers in the current economic climate.
