RBS-owned NatWest International Personal Banking said sales of its Autopilot International account have increased 11% year on year. The bank reported a 50% increase in issuance at the beginning of the year to meet demand for the deposit range.
"The Autopilot International account has had strong customer feedback and a healthy pick up, and remains a popular option," said Alan Evans, head of international wealth managers at NatWest IPB. "We are confident it will continue to be a successful strategy. The appeal of being able to invest in dollars and euros, along with sterling, has increased sales. We are also seeing growth in the area of non-personal investors, such as Sipps and Sas."
Autopilot International Account 9 replicates the five-year portfolio insurance structure of previous tranches and is linked to a basket of market sectors including developed equities, emerging equities, European and Asian real estate equities and gold. Each sector is equally weighted and capped at 8% growth per month (9% for euro and dollar accounts). Capital is guaranteed.
NatWest IPB is also marketing the second issue of its limited edition deposit Equilibrium, a 30/70 four-year product with a UK version linked to the RBS UK Balanced Sector Index and a European version linked to the RBS European Balanced Sector Index. Thirty per cent of the initial investment will be returned during the first three years paying 5.75% (5.7% pa), 11.5% (5.56% pa) and 17.25% (5.44% pa). The remaining 70% will be returned at maturity alongside 60% participation in the chosen underlying.
NatWest Equilibrium 2 will be open until 30 September; Autopilot International Account 9 will be available until 4 November. Both products have a minimum investment of £10,000, $10,000 or €10,000.
These products will be available shortly in Recent Additions (UK).