'Wheeler dealer' investment group Keyworld has launched a holiday investment bond that allows peo...
'Wheeler dealer' investment group Keyworld has launched a holiday investment bond that allows people to purchase accommodation, flights, car hire and other holiday related expenditures.
Each bond is converted into "leisure currency" which can be used to purchase a holiday and related extras.
Kevin Barker, chief executive of Keyworld said: "People will get an effective financial benefit of anywhere between 25% to 60% of their original investment."
A £5,000 investment, for instance, converts to 3,731 keypoints per year and a 2 week off peak holiday in St Lucia for 2 weeks sets you back 1,770 keypoints.
The minimum investment is £2000 and the maximum life of the bond is 75 years. Keyworld offers more than 3,600 resorts from 90 countries.
There is an annual fee of £99 pounds and management fee is 15p per keypoint held. So a £2000 bond, worth 1493 points will cost the holder £323 a year in charges - that's £99 membership and £224 management.
Holders can carry unused points forward to the next year or borrow points from next year's allowance. Friends and family can also use the points. The bond is underwritten by Criterion Life Assurance.
The bond is not redeemable for the first three years but is worth 25% of the property fund in the fourth year, 50% in the fifth, 75% in the sixth and thereafter there is no penalty.
Keyworld floated on London's AIM market in February at 2p, with shares now worth 2.25p.
Further information is available on 0800 085 6050 or www.keyworldinvest.com