SCHRODERS, THE fund management company, is launching a new corporate bond PEP paying 7 per cent gross. The fund will invest in a combination of A-rated bonds, plus up to 40 per cent which are rated at BBB. The initial charge is 3.25 per cent, with an annual charge of 1 per cent, which is taken from capital, not income. This means that in adverse investment conditions an investment's capital value may be affected. Call 0800 002000.

NPI IS offering a Pension Social Index Tracker Fund. The fund tracks the NPI Social Index, which aims to be a benchmark for socially-responsible investment (01892 596098).