Second Isa instalment from M&G

M&G is to offer a second tranche of its protected Isa product in August but the offering will be sli...

M&G is to offer a second tranche of its protected Isa product in August but the offering will be slightly different to the first version launched in May, writes James Thorneley. Like the original offering, investors are guaranteed their money back at the end of the product's five year life but the difference will be the opportunity to receive 100% of any growth in the FTSE 100, capped at 60%. The first issue was not capped and offered investors 80% of any growth in the FTSE 100. Bill Vasilieff, director of group product development at M&G, said: "The feedback we received from IFAs during...