7 June 2004
The new Select Guaranteed Account (SGA) from Zurich Bank International gives investors access to any potential growth across the UK equity and residential property markets, backed by the assurance of 100% guarantee of their capital.
Created to meet the demand for a simple, innovative product appealing to the more cautious investor, the new Account offers three investment options:
- For clients looking to gain from exposure to the UK residential property market, without the hassle or risk of trading up or buy-to-let, the SGA allows investors to link their investment to the Halifax House Price Index (HHPI).
- Those keen to invest on the back of forecasts of a likely stock market recovery can opt to link to the FTSE 100 Index.
- Alternatively, clients can select any combination of both.
In each case they will gain 100% of the growth of both indices over five and a half years, with no initial or annual charges.
The Select Guaranteed Account is a tranche-based, fixed-term bank account being offered by Zurich Bank International. It will also be available through the Zurich Advice Network and to IFAs via Zurich IFA Group. The SGA opens for business on 14 June and closes by 26 July, with an early bird bonus of 0.25% for all applications received before 5 July. The new accounts will be active from 30 July.
The minimum investment for the Select Guaranteed Account is £2,500, with a maximum of £250,000. It is available to Individuals, Trustees of trusts, Pension Trustees, nominees of offshore portfolio bonds and corporate investors. Standard commission for IFAs is 3%.
Graham Sheward, Managing Director at Zurich Bank International, comments:
"This Account is the latest in our line of successful and innovative products that have wide appeal. In this case, because the capital guarantee applies at Index level and we do not offset losses from one index to the other, the account offers a 'win win' outcome for those who elect to split their investment between the two indices. From an international perspective, the Halifax House Price Index option is the perfect choice for those ex-pats who still wish to retain a footing in the UK residential property market, without the hassle of bricks and mortar."
Individuals interested in applying should contact their IFA or the Zurich Bank International Relationship Banking Team on +44(0)1624 671666 for further details and an application form. Alternatively, details, along with a downloadable application form are available at:
www.zurichbankinternational.com
Telephone calls may be recorded.
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Press Information:
Erica Harper, Fay Ford, Jon Atkins on
(01793) 503969, 502873, 505586
Notes to Editors
The Select Guaranteed Account is offered by Zurich Bank International, a subsidiary company of Zurich Financial Services. The Account's interest is linked to the FTSE 100 Index. If the FTSE 100 Index falls or doesn't grow over the 5½ years, no interest will be earned. Zurich Bank International Limited will not deduct tax on interest unless it is required by law to do so.
The availability period runs 14 June to 26 July 2004. However it is available on a first-come, first-served basis and may well shut early if fully subscribed before the closing deadline. Money cannot be taken out of the account during the term except if the investor dies.
HHPI is non-seasonably adjusted.
Zurich Bank International Limited is licensed by the Isle of Man Financial Supervision Commission to conduct Banking Business. Registered in the Isle of Man 22847. Registered Office: 43-51 Athol Street, Douglas, Isle of Man, IM99 1ET, British Isles.
Zurich Financial Services is an insurance-based financial services provider with a global network that focuses its activities on its key markets in North America and Europe. Founded in 1872, Zurich is headquartered in Zurich, Switzerland. Zurich has offices in more than 50 countries and employs about 62,000 people.
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