PERSONAL FINANCE NEWS
DEADLINE FOR ABERDEEN LAT AM FUND
The deadline for investing in the Aberdeen Latin American Income Fund is looming. Those wishing to invest must complete an application form and payment must be received no later than 28 July 2010. The fund is the first first UK-listed Latin American closed-end fund with an income bias and will be jointly managed by Devan Kaloo and Brett Diment. The initial target for the dividend yield is 4.25 per cent with the aim of growing dividends over time and will be paid quarterly. Initially the portfolio blend will be approximately 60 per cent invested in listed equities and the balance in sovereign bonds.
INVESTORS BECOMING MORE INDEPENDENT
Fewer investors are seeking financial advice now than they did in January, according to research from financial services provider Fair Investment Company. The survey found that only 22 per cent of investors sought advice before taking an investment decision compared to 36 per cent in January. despite recent market volatility, investors are not scared to move away from cash investment products. Even though almost half still have the greatest exposure in cash, just 31 per cent said they would be looking to invest in cash going forward. And of those who said they would be looking at investments other than cash, 38 per cent said they would be looking at structured products.
AEGON’S GUARANTEED INCOME OPTION
International life insurance, pension and investment company Aegon has this week launched a new guaranteed income option for those about to retire. The secure income option on the Investment Control bond provides customers with the security of a guaranteed income of 5 per cent of their original investment over 20 years, no matter what happens to investment performance. Each year on the anniversary of taking out the bond, if the value of the bond grows to more than the original investment, the growth is locked in and returned to the customer at the end of the term. The guaranteed income option is available from any age while the secure income option is for those aged 18-74.
INVESTORS USING CHEAP LEVELS TO BUY
Investors have been making the most of the flagging FTSE and jumping in at these cheaper levels, trade data from execution-only broker TD Waterhouse showed. Buy trades increased in the week to 20 July, outnumbering sells by almost two to one. BP topped both the buy and sell list. London-listed Mongolian oil explorer Petro Matad appeared for the first time in this week’s top 10 buys, rising to the number four spot. Miner Aquarius Platinum and video search technology firm Blinkx were also in demand.