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Name | Symbol | Market | Type |
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Cred Ag Co 22 | LSE:10JS | London | Medium Term Loan |
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0.00 | 0.00% | 0 | - |
RNS No 0140f BARCLAYS PLC 6th May 1998 Barclays PLC announces b2 - a fresh new company to change the way we save. b2, a fresh, new financial company has been launched today. b2 will introduce a new approach to savings which will change the way we save so that in future many more people will feel confident and comfortable to make more of their money. b2 is backed by the Barclays Group. A study by b2, revealing a #25 billion 'savings gap' over the last five years, confirms the need for an evolution in savings habits. The launch of b2 is a significant initiative by Barclays to increase its presence in the UK savings and investment market. Martin Taylor, Barclays chief executive, said: "Demand for better value, better return, long term personal savings will grow quickly, driven by demographics and by the diminishing role of the state in this area. This will be a very important market for us. With b2, Barclays is breaking new ground to seize this opportunity." "b2 is a new retail brand, with a new approach and an innovative first product. It draws on the skills and strengths from around the Barclays Group." b2's launch product, the Advanced Savings Account, is a unique combination of opportunity, safety and convenience. It combines the security, flexibility and convenience of a deposit account with the earnings potential of the stock market by offering savers Stock Market Protection on money put into the b2 Stock Market Growth Fund, all in a fully flexible account structure. Mark Bogard, managing director of b2, said: "Many people feel that they could make more of their money than in the building society. But they simply don't feel confident or comfortable enough to do anything about it - too much jargon, too much risk, too inflexible. 'It's not for me'. b2 will bridge the gap between savings and investing for ordinary savers." "We have talked to thousands of savers and found that they wanted that gap bridged by a company with the know-how, security and stability of a blue-chip financial provider. Allied to what they see as the freshness, accountability and independence of some of the newcomers to financial services. Savers want something safe, but exciting. b2 will deliver that. It's a small name that stands for a big idea!" The Advanced Savings Account offers savers a unique combination of benefits: - the unlimited growth potential of the stock market - 100 per cent downside capital protection, if the stock market does not rise over a period of their choice (three, five or seven years) - the income that flows from the investment - withdrawals at any time if needed, when a minimum 85 per cent of total savings are guaranteed, whatever the performance of the stock market at that time - flexible start up choices of a #500 lump sum or from #50 a month. Money can be added at any time. Savers can also take payment 'holidays' or save for a many or as few months of the year as they want - for an annual management fee of 1.5 per cent charged to Stock Market Growth Fund. No other charges are made for making deposits, withdrawals, monthly savings or any other changes to the account. A study by b2, called 'Mind the Gap', shows four million Britons lost over #10 billion in a 'savings gap' last year alone. The gap is the difference between how much long term savers get putting their money into savings accounts and how much they could earn investing in the stock market. The four million savers in the UK with over #1,000 in restricted access accounts typically made #246 in interest over the last year. Investing their money in the stock market they would have made #2,988 - a difference of #2,742. Over the last five years, the same gap has cost savers over #25 billion. The launch of b2 follows an 18 month programme to develop Barclays UK retail mutual funds business. Barclays launched Barclays Global Investors Funds in October 1997 to offer investment products to be exclusively promoted through Independent Financial Advisers. It also developed a new streamlined product range, called Barclays Investment Portfolios, for sale through Barclays regulated sale force. b2 starts a major national advertising campaign today starring Richard E. Grant, and opens for business on 18 May 1998. It will initially be accessible by phone and post, seven days a week between 8am and 10pm. Barclays Global Investors will be b2's investment manager and Barclays Capital will provide the b2 Stock Market Protection. Mark Bogard added: "The Advanced Saving Account is a mould- breaking product. There will be more to come from b2". Customers can contact b2 from 18 May 1998 by calling 0800 626262 or visiting www.b2.com Note: Past performance cannot be relied upon to predict how an investment will perform in future. The price of units and the income they pay can go down as well as up. For further information please contact: Di Skidmore Ian Roundell Public Relations Barclays PLC b2 limited Investor Relations 0171 329 0505 0171 699 2961 END MSCANUAKWKKVRAR
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