Abtrust Fund Managers is offering investors the opportunity, until 30 April, to exchange shares free of charge into Abtrust investment trusts. The Abtrust Investment Trust PEP carries no initial charges and there are no brokerage fees. There is a management fee of 0.5 per cent a year. Abtrust Convertible Income Trust currently yields 8.1 per cent. Abtrust High Income invests mainly in income shares of split capital trusts and this yields 10.8 per cent.
Baronsmead Venture Capital Trust is raising cash for the current financial year and next. Shares are priced at 104p and will invest in established, unquoted companies and those traded on AIM. The minimum subscription is 3,000 shares.
Downing Corporate Finance is launching Downing Healthcare Protected VCT, investing in nursing homes and fixed interest securities. The target yield is 6.25 per cent tax-free. Minimum investment is pounds 5,000.
Skipton BS and GA Life are offering a High Performance PEP investing in either a GA unit trust or income fund with no initial charges. Investors who decide to put in the full pounds 6,000 PEP allowance can also place up to pounds 4,000 into an instant access account. This will pay up to 7.5 per cent gross, and includes a 1.5 per cent bonus next year.
Canada Life is offering a 10-year with-profit savings plan, which on maturity provides a tax-free monthly income for the following 10 years. Based on current bonus rates this plan would pay pounds 104.93 a month on an investment of pounds 50 a month. Call 0500-150150 for details.
Birmingham Midshires is offering customers a three-year fixed-rate mortgage at 6.84 per cent and a five year fixed-rate mortgage of 7.39 per cent. Buildings and contents insurance is tied to these rates and the redemption penalties apply within five and six years respectively. Investors may face an arrangement fee of pounds 295 as an additional cost with the loan.
Henley-based Perpetual, which won Micropal's award for best investment management group of 1996, is offering a World Income PEP. The PEP will be investing in a selection of Perpetual unit trusts worldwide. The initial charge is 5.25 per cent and the annual management charge on the account is taken out of capital. Customers should enjoy an annual income of about 4 per cent and the minimum investment is pounds 500 or pounds 20 a month. A 2 per cent discount is offered until the end of April.