Offshore Investment Funds

Royal Bank of Scotland International and NatWest Offshore have together launched an investment bond linked to the Nasdaq 100 index of US ‘new economy’ shares. The Nasdaq Guaranteed Return Bond offers investors the potential to double their money over a five-year period while guaranteeing the original capital and a minimum return of at least 25 per cent, based on actual returns over five years as measured by the Nasdaq 100. Sterling and US dollar versions of the bond are available, minimum deposit £5,000 or $10,000. No withdrawals are possible during the life of the bond until 22 August 2005.

Offshore Investment Funds & Barclays

Sterling and US dollar versions of the new bond are available, minimum investment £10,000 or $15,000, and no withdrawals are allowed until maturity on 24 February 2004. The return is calculated by comparing the level of the index at the start of the bond with the average level of the index over the last 12 months of the bond.

Northern Rock in Guernsey has three new fixed-rate bonds which offer the choice of fixing interest rates at 7 per cent a year over one, two or three years. Minimum balances of £10,000 are required; maturity is on 1 July 2001, 2002 or 2003. Withdrawals during the fixed-rate period are subject to a charge equivalent to 60, 90 or 120 days’ interest on the amount withdrawn, depending on the bond’s duration.

Offshore Investment Funds - Sun Bank Offshore

The quarterly income option is available on all Sun Bank Offshore’s investment certificates with a term of one year or longer where the deposit is £20,000 or more.