Briefly: Rothschild bond launch

J ROTHSCHILD Assurance is launching an Income Distribution Bond that will be managed by M&G Investment Management. There will be no initial charge, but there is an early surrender charge ranging from 6 per cent in the first year to 1 per cent in the fifth year. The management charge is 1.5 per cent per annum. Distributions will be made quarterly and investments will primarily be in UK equities. Details 0285 640302.