We hope that you and your family are keeping safe and healthy. Investec’s new range of Plans is open for investment. Please see below for highlights from the range. Pricing Update: Investec have seen a reduction in headline rates across the board for this new collection, driven by continued market uncertainty and a substantial fall in interest rates. Despite this fall, their Deposit Plans are looking particularly attractive, given the even sharper fall that has been seen in the cash savings market over the last month. Their new Deposit Plans are priced particularly well, which you can verify from the costs and charges disclosures in each Deposit Plan brochure, and it is anticipated that there are no restrictions on their Deposit Plan capacity. Removal of the Death Benefit from Investec Deposit Plans: Investec have advised that they have removed the “Death Benefit” on all new Deposit Plans henceforth. This was the feature which guaranteed a par value on the death of a customer who was under 75 years old at the time of investment. They were obliged to remove this feature due to new legislation that imposed a prohibitive cost on maintaining the benefit. For clarity, they have not removed this feature from previous Deposit Plans – it has only been removed for the latest collection of Deposit Plans onwards. Any Deposit Plan with a Start Date prior to August 2020 will retain the “Death Benefit” for the duration of the Plan. Limited capacity of the Investment Plan Range: As was the case for their previous range of Investment Plans, capacity in their new range of Investment Plans is limited, meaning that they are likely to close the offer early. In the event that they do close their Investment Plans early, they will provide us with notice two days in advance of the closure which we will notify you of accordingly.
ISA transfer applications – 10 July 2020 Direct and ISA applications – 31 July 2020 Start date – 10 August 2020 To view the new range of Plans please click on the following link: Don’t Forget the Risks https://www.bestpricefs.co.uk/investec-structured-products/#risks As with all forms of investment there are risks involved. These plans do not guarantee to repay the money invested. The potential returns of the plans and repaying the money invested are linked to the level of the stock market and also depend on the financial stability of the Issuer and Counterparty Bank. Past performance is not a guide to future performance and may not be repeated. Investment involves risk. The performance data does not take account of the commissions and costs incurred on the issue and redemption of shares. The value of investments and the income from them may go down as well as up and investors may not get back any of the amount originally invested. Because of this, an investor is not certain to make a profit on an investment and may lose money. Exchange rate changes may cause the value of overseas investments to rise or fall. The promotion of the plans does not constitute ‘advice’ to invest. Advice is always specific to an individual investor’s circumstances and needs, following the process of ‘know your customer’, with the aim of ensuring that any product is suitable for an investor. As always, the recommendation and common sense approach is to consider product solutions as a portfolio, never over-exposing oneself to a point of financial pain and suffering liquidity or counterparty over exposure. At the Best Price FS price point (when combined with our smiley and helpful service) the Investec plans are certainly worthy of consideration for inclusion within investment portfolios. Advice Simply get in touch if you wish to receive regulated advice in relation to the ‘suitability of the plans to meet your investment needs’. Warmest Regards. Richard and the Best Price FS Team |
