Newcastle Tessa-only Isa launch

Newcastle Building Society is to launch a cash and Tessa-only Isa giving savers equity fund-linked r...

Newcastle Building Society is to launch a cash and Tessa-only Isa giving savers equity fund-linked returns. The Guaranteed Five Star Bond, on offer from the beginning of February, is a five-year, fixed-term product, structured as a building society share account. Interest on the account is based on 75% of the returns from five underlying actively managed external funds. The deposit account classification not only ensures investors' capital is guaranteed, it also broadens its potential distribution channels. Charles Fry, director of Pinder Fry & Benjamin, which developed the product w...