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Expat Investor : July August 2007
NEWS July/August 2007 EXPAT INVESTOR 3 Scarborough Channel Islands Limited (SCIL) Registered office: Suite 5 North, Town Mills, Rue du Pre, St Peter Port, Guernsey, Channel Islands, GY1 3TR. Licensed under the Banking Supervision (Bailiwick of Guernsey) Law 1994 as amended. Copies of the most recent audited accounts are available from the above address. Approved for distribution in the UK by Scarborough Building Society. Registered in Guernsey No. 25871. SCIL is a wholly owned subsidiary of Scarborough Building Society. Deposits with SCIL are not covered by the Financial Services Compensation Scheme established under the UK Financial Services and Markets Act 2000. Scarborough Building Society has given an undertaking agreeing to discharge the liabilities of SCIL in so far as SCIL is unable to discharge them out of its own assets and whilst SCIL remains part of the Scarborough Building Society Group. Apply now at www.scarboroughci.com LIMITED AVAILABILITY Scarborough Channel Islands Limited is a subsidiary of Scarborough Building Society, a top-20 UK building society, so you can be confident that your money is in safe hands. Rates correct at time of going to press (16 July 2007). The rate shown is for an annual interest paying account. Monthly interest option available. All investments must be received while the current issue is open. This product has limited availability and can be withdrawn at any time without notice. *The 'gross' rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. 7913-07-07 • Initial rate guaranteed until 31 July 2008 • Minimum investment £5,000 • Maximum investment £1,000,000 per customer •New money only by cheque or direct bank transfer • 90 days notice account - minimum withdrawal £1,000 •Apply using online application form 6.30 OFFSHORE 90 DIRECT % gross/AER* Fast Facts 66123 Lloyds TSB Offshore fund hits the £100m mark Base rate tracker term account from Abbey International THE MULTI-Strategy Fund from Lloyds TSB Offshore Fund Managers has hit the £100m mark. The Fund is an alliance between Lloyds TSB Offshore Fund Managers, Scottish Widows Investment Partnership, Russell Investment Group and Morley Fund Management. It produces "eight expertly constructed investment strategies within a single Jersey fund." Investors have a choice of six sterling denominated strategies -- Cautious, Conservative, Balanced, Growth, Progressive and Aggressive, and two US dollar denominated strategies -- Global US$ Conservative and Global US$ Growth. All strategies are available to investors wishing to invest a lump Fast Facts 66120 Fast Facts 66122 Fast Facts 66121 ABBEY International has launched a new issue of its Base Rate Tracker Term Account (Issue 6) as part of its range of deposit accounts, offering what the Bank calls, "consistent and competitive rates of interest". The one-year sterling account offers an interest rate that moves in line with the UK Bank of England Base Rate until 6 May 2008. The launch rates are as follows; 4 May 2007-- 30 August 2007, UK base rate plus 0.30%, 31 August 2007--31 December 2007, UK base rate plus 0.10%, and 1 January 2008--6 May 2008, UK base rate. The minimum balance is £10,000. Jane Matthews, Head of Marketing & Business Development, says, "Previous launches of the Base Rate Tracker Term Account have been very successful. The account is straightforward and provides a very competitive rate that is simple to understand and gives customers the confidence that they are continuing to receive a good deal without the hassle of having to shop around constantly. Customers can also monitor their financial transactions via our Internet Banking Service." Interest is calculated daily and will be paid on the maturity date of 6 May 2008. Further deposits to an existing account can be made at any time until maturity. Payments can be made by cheque, CHAPS/Swift, BACS or for existing customers via inter-account transfers using the internet banking service. Fast Facts 66002 sum and those wishing to save regular amounts. Investments can be made in sterling, US dollar and euro. Lloyds TSB Offshore Fund Managers explains that the strategies feature broad diversification across cash, bond, property and equity investments. "With the option for two free switches between strategies each year, investors can make appropriate changes to their investment in relation to market conditions, or to suit their circumstances. Investors also have peace of mind in the knowledge that they have easy access to their investment, as the Fund deals daily." Stockbrokers open office in Dubai KILLIK & CO, one of the UK''s leading independent stockbroking and financial services groups, has been granted a licence by the Dubai Financial Services Authority (DFSA) to operate a local branch in the Dubai International Financial Center (DIFC). The Dubai Branch, says Killick, will provide a "unique independent investment advisory service to the fast-growing expatriate market and high net worth individuals in the United Arab Emirates (UAE) and Asia. Middle Eastern and Asian clients will now have access to a range of independent investment activities including stockbroking, asset management, financial planning and corporate services solutions." John McGaw, Senior Executive Officer, tells Expat Investor,"Although there are already investment companies operating in Dubai, they focus primarily on their own products. We will be one of the first to offer independent advice ensuring access to best of class financial products from across the UK and Europe. Killik & Co is an established, trusted brand with a proven track record in delivering tailored investment solutions to clients -- we believe this will especially appeal to the expatriate market." Headquartered in London, Killik & Co is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority. Growth bond from Britannia International BRITANNIA International has launched Issue 20 of its Optimum Growth Bond which is available for investment until 2 August 2007. The Bond is offering 160% of FTSE 100 Index growth over six years (averaged over final 12 months). Other features include: early maturity after two years -- if the FTSE has grown by 20% or more, paying a return of 20% gross/9.54% AER; early maturity after four years -- if the FTSE has grown by 40% or more, paying a return of 40% gross/8.78% AER. Britannia International confirms there is no risk to capital as the original investment is guaranteed to be returned in full. The minimum deposit sum is £10,000 (£5,000 for existing Britannia International customers), and £50,000 for trust and corporate investments.