Investec Capital Accumulator & Capital Accumulator Trust - Downgraded
By ROBERT HARLEY 17/01/2008
The above funds invest a large proportion of their assets in structured products called ZEBRAs, which look and act like traditional zero dividend coupon bonds. Currently the terms and conditions available for these structures are not as favourable as they have been in the past, weak stock selection has also been a contributory factor. We have reduced our buy rating conviction level to 3 stars.
Market latest
|
Index
|
Points
|
+/-
|
| FTSE 100 |
5338.38 |
1.24%
|
| FTSE 250 |
10593.00 |
0.77%
|
| FTSE All Share |
2776.65 |
1.17%
|
| FTSE Euro 100 |
2025.68 |
1.17%
|
| S&P 500 |
1314.49 |
0.78%
|
| Nasdaq |
2841.98 |
1.12%
|
| Hang Seng |
19200.93 |
0.31%
|
| Nikkei 225 |
8876.59 |
0.86%
|
Values delayed by at least 15 minutes.
Source: Financial Express