13 Mar 2000

Egg launches on-line Isa and Investment Supermarket

Prudential plc announced today that Egg - Britain's first internet bank - will open its on-line investment supermarket in the week beginning Monday 13th March 2000. This represents a major strategic initiative for Egg and is a significant development in UK retail financial services e-commerce.

Egg Investment has signed up 12 prominent UK fund providers who, between them, represent over 30% of the UK’s collective investment market. Together they manage over £55 billion for four million accounts. The Egg Investment Supermarket will have 169 funds at launch, ranging from Index trackers and general funds to specialist sector and geographic funds. Other fund managers will be added to the supermarket later.

New e-technology will provide Egg Investment’s customers with services which will allow them to:

check the value of their investment portfolio, updated daily, in their personal balance sheet;

include all their other assets and other personal finance details, such as the latest state of their mortgage, in their personal balance sheet;

create and monitor practice portfolios, to gain familiarity with the investment process – or play "fantasy fund management".

Other innovations include independent news and comment from Reuters and Motley Fool, more than 400 pages of investment information, an "investment profiler" to help customers to match their choice of fund to their personal requirements.

Jonathan Bloomer, Group Chief Executive of Prudential, said:

"We are delighted to launch this new service for Egg customers. It represents further significant progress with the business and continues to build on the first-mover advantage that we already have in UK retail financial services e-commerce."

Mike Harris, Chief Executive of Egg, said:

"We are providing a wide choice of tax-free ISAs and other investments from a dozen prominent British investment houses, with many more in the pipeline. Egg's e-commerce technology enables individuals to keep tabs on their investments - and on many others aspects of their personal finance - day by day. Egg's personal balance sheet makes it much easier for the individual to stay in control of his or her financial life. And, as usual, Egg is passing on the internet cost savings to the customer."

For further information contact:

Media - Jeremy Reynolds - 020 7548 3721

Analysts - Carys Walshe - 020 7548 3823

Egg Investment's 12 fund managers are Flemings, M&G, Schroders, Hendersons, Threadneedle, Jupiter, Aberdeen, Newton, Deutsche Bank, HSBC, Invesco and Mercury Asset Management.

Egg has over 940,000 customers and is ranked by IBM as the highest placed UK member of the world's top ten e-commerce banks.

To buy investments from the supermarket, customers must first have an Egg Savings Account. Until April, only Egg customers will be able to access the investment supermarket's online site.

Existing Egg customers can access Egg Investments at www.egg.com

Jackson National Life Insurance Company

Prudential

You are about to enter the website of our US affiliate Jackson National Life Insurance Company, an indirect subsidiary of Prudential plc of the United Kingdom.

Proceed to the site

Prudential

If you are looking for an affiliate of Prudential Financial, Inc, whose principal place of business is in the United States of America.

Proceed to the site

Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).

PPM America

Prudential

You are about to enter the website of our US affiliate PPM America, an indirect subsidiary of Prudential plc of the United Kingdom.

Proceed to the site

Prudential

If you are looking for an affiliate of Prudential Financial, Inc, whose principal place of business is in the United States of America.

Proceed to the site

Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).

  • Load
  • More

For M&G and Prudential UK customers and policyholders:

In October 2019, Prudential plc separated its UK operations and, as a result of this separation, Prudential UK is now owned by M&G plc. The M&G plc group is a separate, independent group and as such we are not able to help any M&G or Prudential UK customers or policyholders.

Therefore, to find the best way to make contact, please visit www.pru.co.uk/contact-us

For further information on the M&G plc group, please visit the M&G website: www.mandg.com