Meteor launches new dual index income deposits

Meteor Asset Management has announced the launch of its latest Dual Index Income Deposit product.

Meteor launches new dual index income deposits


The firm has unveiled two new products linked to the FTSE 100 and S&P 500. The non-commission-based vehicle offers the potential for 8.5% returns, provided the FTSE 100 remains in the 4900 to 7200 range, and the S&P 500 in the 1200 to 1680 range during an annual observation range.

A commission-based counterpart will pay 6.5%, and the deposits have a six year and two week investment term.

Graham Devile, managing director of Meteor said: “For those advisers with clients seeking an enhanced rate of potential income above the rates of a traditional deposit account, the Dual Index Income Deposit March 2013 may provide a solution. The product allows for significant movement in underlying indices, with the coupon only being affected in the event that one or both indices breach their fixed range during an annual period.”

“In addition to our RDR-compliant model we are currently continuing to pay commission on our structured deposits and this is reflected in the lower coupons.”

Investors can access the fund through the platform, wrap or SIPP of their choice, and subscription starts this month in time for a March commencement.


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