NEWS
SCIL boosts rate on new
look Lifestyle Fifty Plus
Scarborough Channel
Islands Limited (SCIL) has
launched a new version
of its Lifestyle Fifty Plus
account offering a higher
guaranteed rate than its
predecessor.
The latest version will
pay 1% above the Bank
of England (BoE) base
rate until the end of next
year, 20 basis points higher
than the previous account,
which is guaranteed over
the same period.
KEY FEATURES
� Available to investors aged 50+ (for joint accounts only, the
oldest has to be 50+)
� Annual interest: 6.2% variable gross pa, guaranteed to pay
1% above Bank of England (BoE) base rate until 31 Dec ’09
� Monthly interest: 6% variable gross pa, guaranteed to pay
0.8% above base BoE base rate until 31 Dec ’09
� Additional deposits up to maximum of £1m
� New money only; internal transfers permitted with matched
new funds
The product, aimed at
the retirement and preretirement
markets, currently
pays 6.2% gross
annual interest. The rate
is variable but subject to
the 1% above BoE base
rate guarantee. From 1
Jan, 2010 the rate becomes
fully variable.
The account can be
opened and operated by
post, telephone, fax or
email.
www.scarboroughci.com
Old Mutual extends Skandia
expertise to investors in SA
BY HELEN BURGGRAF
Old Mutual is bringing the
expertise of its Skandia
Investment Group (SIG)
arm to South Africans keen
to invest offshore.
Investors in Old Mutual’s
original home market will
have access to the same
number of international
funds – about 90 – to which
they had previously through
Old Mutual International
(OMI), the South Africabased
offshore business of
Old Mutual.
The OMI range of funds
will now benefit from the
input of SIG’s experienced
fund managers, particularly
their knowledge of the
multi-manager field.
The revamp of part of
OMI also means that its
in-house fund range will
Bradshaw: giving OMI investors
access to ‘world class’ funds
be able to take advantage
of SIG’s investment
research and fund manager
selection processes, an
SIG spokesman said.
The move has been in
planning over the past few
months, and comes around
nine months after OMI was
incorporated into SIG so
the business could benefit
from Skandia’s greater
S C H R O D E R S ’ A W A R D -
From the Citywire award winners
When you’re 100% focused on delivering good investment performance, it’s
rewarding to be recognised for doing your job well – particularly when market
conditions are tough.
Each year Citywire, one of the City’s most respected independent ratings agencies,
gives out the Citywire Team All Stars Awards. In 2008, Schroders’ fund management
*
0800 718 777 www.schroders.co.uk/multimanager
† Available via offshore bonds. Please check with the relevant platforms to see which funds are available.
For professional advisers only. This material is not suitable for retail clients. Past performance is
not a guide to future performance and may not be repeated. The value of investments and the income from
them may go down as well as up and investors may not get the amount originally invested. Schroders has
expressed its own views and these may change. Where a fund holds investments denominated in
currencies other than sterling investors should note that exchange rates may cause the value of these
investments, and the income from them, to rise or fall. The funds can use derivatives for investment
size and offshore expertise,
according to the firm.
It added that as a result
of the revamp, many of the
funds in OMI’s Core range
have been included as a
result of SIG’s investment
research capability, which
consists of a team of more
than 50 investment analysts
and portfolio managers
around the world.
As part of the changes,
the Core range is being
rebranded as ‘Self Select’,
to make it consistent with
the fund offering across the
rest of SIG.
OMI head of offshore
distribution Marcel
Bradshaw said the changes
meant that “the fund management
capabilities of 29
world-class fund groups”
were being introduced to
OMI’s investors.
†
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