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Expat Investor : April 2008
NEWS April 2008 ? EXPAT INVESTOR 3 Focus, our award-winning, innovative and cost-effective platform, is a fully integrated banking and investment service. Designed to make your life easier, Focus can save you time and money. To find out more about our first class wealth management services, call us on +44 (0) 1624 645000 or visit www.fairbairnpb.com Focus Have Focus. Achieve More. ( EXINV) First class service from the Best International Investment Platform Provider 2007 Winner Best International Private Bank Best International Investment Platform Provider 2006 Winner Best Offshore Bank Best Commitment to Service 2005 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) Best Internet Service 2004 Winner Best Offshore Bank 2003 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) 2002 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) 2001 Winner Best Offshore Banking Product Range distinctly different Fairbairn Private Bank is a registered trade name of Fairbairn Private Bank (IOM) Limited and Fairbairn Private Bank Limited. Fairbairn Private Bank (IOM) Limited is licensed by the Isle of Man Financial Supervision Commission for Banking and Investment Business and its principal place of business is in the Isle of Man. Fairbairn Private Bank Limited is regulated by the Jersey Financial Services Commission to carry on deposit-taking and investment business under the Banking Business (Jersey) Law 1991 and Financial Services (Jersey) Law 1998 respectively. Registered office: Fairbairn House 31 The Esplanade St Helier Jersey. Latest audited accounts are available on request. CONSUMERS have benefited from more than £1bn in compensation from the UK’s compensation scheme of last resort since the Financial Services Compensation Scheme (FSCS) was set up. The FSCS was set up in December 2001 following the Financial Services and Markets Act 2000 (FSMA). Since then FSCS has helped consumers who had nowhere else to turn when authorised financial services firms went down. Funded by levies on firms regulated by the FSA, the compensation paid by FSCS since 2001 stands at £1.025 billion. FSCS has made some 350,000 compensation payments across the full range of financial services. It has stepped in to help customers of Fast Facts 44001 Investors will receive their full investment back at maturity provided that the Index hasn’t fallen below 60% of the initial level and failed to recover, in this case their capital return will be reduced by 1% for every 1% that the index is below its initial level. The European blue-chip companies, measured through the performance of the index, include sectors comprising finance, telecommunications, health care, food, technology, retail, chemicals and the auto industry. The companies within these sectors include: BCO Santander Central Hispano, E.on, ING Barclays Stockbrokers launches Euro STOXX top 50 and FTSE 100 capital protected products BARCLAYS Stockbrokers has announced two new Investment notes – one linked to the Dow Jones EuroSTOXX 50 Index, and one tracking the performance of the FTSE 100 Index. Both have been designed to provide diversity to investors’ portfolios, and, if held in an ISA, PEP or SIPP offer a tax efficient investment opportunity. The Euro STOXX Top 50 Investment note is a five year note which tracks the Dow Jones EuroSTOXX 50 Index and offers a potential return of 75% if the final level of the index is equal to or higher than the initial level. AT THE SAME time as the Financial Services Authority (FSA) warns that we could all be facing more difficult economic conditions, it has also relaunched its dedicated consumer website to help people manage their money. Moneymadeclear offers free, impartial information along with the FSA’s own compare product tables. On this site, consumers can find a simple explanation of the ‘credit crunch’ and information on how to manage if, for example, borrowing becomes more expensive. With 2.8 million visits last year, Moneymadeclear was the first website to receive the Plain Language Commission’s Gold Standard Award. The FSA describes its site as providing jargon-free information on a range of subjects, including mortgages, loans and credit cards, as well as interactive tools to help work out how much borrowing will cost at different interest rates and a budget calculator to help manage your budget. There are also printed guides covering 'what to do if you can't pay your mortgage', and 'making your budget work for you' guide. As part of the relaunch, the FSA has revamped the compare product tables, making it much easier for consumers to shop around. In two clicks you can compare the features and costs of a wide range of financial products. including savings accounts, mortgages and annuities – and the FSA is aiming to add its first Payment Protection Insurance (PPI) tables soon. www.moneymadeclear.fsa. gov.uk £1bn consumer compensation pay-out Group, Bayer, Nokia, Sanofi Aventis, Telefonica and Total. The FTSE 100 Capital Protected Investment Note is a six- year growth investment which is designed for investors who want to share in the growth potential of the FTSE 100 Index. It will provide investors, at the end of the term, with 100% capital protection and a return of 133% of any rise in the Index, subject to a maximum index rise of 60%. Therefore, investors’ returns are capped at 80%. FSA’s consumer website revamped Fast Facts 44120 firms of all shapes and sizes, from small independent financial advisers and credit unions to much larger companies like Independent Insurance. Loretta Minghella, Chief Executive, says, “We have made over 250,000 payments to consumers relating to significant insurance failures. We have upheld over 54 thousand mortgage endowment claims. We have helped over 4,000 credit union members to get their savings back. And we have helped thousand of investors who lost money from precipice bonds and splits. Our work has spanned the full breadth of financial services. The £1 billion that we have paid is money that consumers would have lost if it was not for FSCS.”
May June 2008