Abbey GPP second issue launched

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Abbey GPP second issue launched

Tue 14th Jun 2005

Abbey has launched a second issue of its popular Guaranteed Growth Plan (GGP).

The GGP guarantees people get their money back, plus a guaranteed minimum return as long as they keep their plan for the full term. However, if they choose to withdraw the money before the minimum term is up they could stand to get back less than the initial capital.

The minimum investment required is £1,500 with no maximum, and investors are able to open or transfer their PEP or ISA into the new GGP.

The plan is available as an ISA or a direct share investment plan which is linked to the performance of the FTSE 100 Index with a guaranteed minimum return of 21 per cent and the potential for maximum return of 44 per cent.

The Abbey product also has the advantage of having an offshore structure of the GGP so ISA returns are not liable for income tax, although some investors could be subject to capital gains tax.

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