Clerical Medical enters market with 20 Oeics

Clerical Medical is entering the open-ended structured products market with the launch of the first ...

Clerical Medical is entering the open-ended structured products market with the launch of the first of 20 Oeic funds. The Secure Investment Plan offers 110% of growth in the FTSE 100 with capital protection over a five-and-a-half-year term. The group anticipates issuing four or five tranches of similar products each year. The initial charge on the plan is 7.25% but there is no annual management charge. Investors are guaranteed the return of their initial investment under the plan, which is available for Isas and Pep transfers as well as direct investment. On the participation start dat...