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Birmingham Midshires is launching a new equity linked tracker bond which pays no income but guarantees a return of 20 per cent after five-and-a-half years should the top 100 share index falls in that time. If the index rises, so do returns, up to a maximum of 100 per cent. Minimum investment is pounds 5,000. Call 0645 720721.

Flemings Investment Trust Management is offering to accept Northern Rock shares in a Fleming PEP without charge until April 1999 and to sell them free of charge before then. After then the annual charge will be pounds 10 a year regardless of the size of the holding. Investors must not already hold another PEP, and must place at least pounds 1,000 into the PEP. The deadline is 4 November. Call 0500 500161.

GE Financial Assurance is offering a five-and-a-half year Safeguard Bond, paying 8 per cent annual net income or up 50 per cent growth net. Minimum investment is pounds 5,000. Call 0181-380 3388.