The product range will expand to include fixed term and kick-out propositions, single and multi-indices, a wider choice of underlying asset class, and growth as well as income products. The minimum investment amount will also reduce, where possible, to follow ISA rules and regulations.
Jubilee will also grow its infrastructure in the coming months, having increased its sales capability with the hire of Chris Powell as head of IFA sales in the second half of last year. He is under no illusion about the difficulties ahead, saying: “This type of investment avenue while having many staunch followers in the investment sector and investors who have profited considerably has still to allay the reservations of quite a number of advisers, investment bodies and potential investors.
The firm has also launched its latest fixed-term deposit product, the Inflation Deposit – Issue Two, designed to provide a hedge against inflation that the product’s literature describes as “the silent enemy of investment”.
Any interest is paid will be paid at the end of, rather than during, the term and will be linked with any rise in RPI. Should RPI fall, investors will receive 100% of their capital at maturity.
The deposit-taker, Royal Bank of Scotland, will receive investment on its start date of 16 December and the investment end date will be five years and nine months later, on 18 September, 2017. The plan’s maturity date is 2 October, 2017.
