Scarborough launches new rollover bond
With global financial markets experiencing some of the worst volatility for 20 years, Scarborough Channel Islands Limited (SCIL) has launched a market leading6 Month Rollover Bond, designed to provide a competitive offshore short-term safe haven for investors’ cash.
The new 6 Month Rollover Bond offers tiered fixed rates of up to 6.50% gross p.a. AER, with interest capitalised or paid away at maturity. After 6 months investors have the option to withdraw or transfer their funds, or they can simply allow SCIL to ‘rollover’ the funds automatically into the current issue of the 6 month rollover bond available at the time.
The minimum investment is £50,000 and funds can be invested up to £1 million per customer. Further rollover bonds can be opened, subject to an overall maximum holding of £5 million. The account is also available to nominees and trustees, and is likely to be attractive to trustees of pension fund schemes.
Commenting on the 6 Month Rollover Bond, Tony Burdin, Managing Director of SCIL, said: ‘The product is ideal for investors who want to hold cash whilst the markets are volatile, but don’t want to tie up their money for too long in return for a good guaranteed rate.’
The Rollover Bond can be held for the minimum term of 6 months, after which the account holder has 14 days to either withdraw part or all of the funds, or simply do nothing and allow SCIL to rollover the investment in to the latest issue for a further 6 months. Tony added – ‘The ease of administration is likely to be attractive to both personal and professional investors.’
Prospective investors can obtain full details of the account by visiting scarboroughci.com.