Norwich Union International (NUIL), Norwich Union’s offshore operation in Dublin is to launch a protected fund - The Norwich Deutsche All-Weather Equity Fund as an extension to the Norwich Union International Portfolio Bond fund range which was successfully launched in March this year.
Norwich Union International (NUIL), Norwich Union’s offshore operation in Dublin is to launch a protected fund - The Norwich Deutsche All-Weather Equity Fund as an extension to the Norwich Union International Portfolio Bond fund range which was successfully launched in March this year.
Available from 3 July 2000, the Norwich Deutsche All-Weather Equity Fund invests in the Deutsche All-Weather Equity Fund. This underlying Fund, which has been awarded a frAA rating by Standard & Poor’s, will invest mainly in blue chip UK equities - including names such as BP Amoco, Glaxo Wellcome, British Telecom and Lloyds TSB Group.
The Deutsche All-Weather Equity Fund aims to limit risk to capital whilst also allowing the investor to take advantage of any market growth. Norwich Union International believes that a protected fund option within their Portfolio Bond is ideally suited to those investors seeking wealth preservation but looking for a more rewarding alternative to currency funds and deposit accounts.
The new Norwich Deutsche All-Weather Equity Fund will sit within the Norwich International Portfolio Bond which provides investors with access to over 70 different funds. These include 17 managed by Norwich Union Investment Management and over 50 more managed by some of the world’s leading investment managers including: Credit Suisse, Fidelity, Henderson, INVESCO, Mercury, Perpetual and Schroders.
Jon Herbert chief executive officer of Norwich Union International Ltd said: "This a significant addition to our fund portfolio. Our research amongst IFAs indicates that there is demand for a protected fund offering performance opportunities with protection.
"The fund will sit well within a portfolio of core holdings for the risk averse investor. Indeed it will equally appeal to a broader range of investors who may wish to utilise the Fund’s protection strategy in times of increased market uncertainty. In fact all investors can easily take advantage of up to 24 free online switches to pro-actively manage their portfolio through the current market volatility."
Shaun Coleman, fund manager of the Deutsche All-Weather Equity Fund explained the Fund’s protection strategy: "The Fund’s objective is to offer investors protection against significant capital loss and the opportunity to participate in most of the stock market appreciation. The Fund has a goal of limiting potential losses to 10% in any one year and this is supported via a ‘safety net’ of derivative investments."
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Media contacts:
James Duffell, Norwich Union 01603 680874
Olive Fogarty, Norwich Union International 00353 (1) 8028415
Andrew Waterworth / Rebecca Ellis-Owen, Financial Dynamics 0207 831 3113
Notes for Editors:
Norwich Deutsche All-Weather Equity Fund Facts:
Launch Date - 3 July 2000
Annual Management Charge - 1.15%
Notes to Editors
1. Norwich Union International’s products offer the potential to defer personal income tax liability until the bond is fully cashed in. There is no tax liability on fund switches and no personal capital gains tax liability on investment returns. Dividend income and capital gains are rolled up tax free (with the exception of some irrecoverable withholding tax) which accelerates the potential for investment growth.
*NUIL offers investors the option of taking advantage of the tax friendly environment of offshore investment. NUIL launched the Norwich International Investment Bond and the Norwich International Portfolio Bond on March 6. These are single investment bonds with no fixed term. They are designed as medium to long-term investments and should not be viewed as short-term commitments.
- The value of investments can go down as well as up. Investors may not get back the amount invested.
- These bonds should be considered as medium and long-term investment.
- The future basic and rates of tax may vary
- An early surrender charge may be applied
- Full written terms and conditions are available on request
Norwich Union International Limited 6 Georges Dock, International Financial Services Centre, Dublin 1 Republic of Ireland Registered number 303 257
Norwich Union International Limited is supervised by the regulatory Authorities of the Republic of Ireland.
Approved by Norwich Union Life & Pensions Limited. Registered Office 8 Surrey Street Norwich NR1 3NG UK Registered No 3253947 England
Norwich Union Life & Pensions Limited is regulated by the Personal Investment Authority. The Personal Investment Authority rules and regulations are made under the Financial Services Act 1986 for the protection of investors and apply only to investment business conducted in or from the UK.
Norwich Union Investment Management Limited is regulated by IMRO