Norwich Union International comes of age with 20 new funds

On 6th March, Norwich Union International (NUIL), CGNU's Dublin-based international life and investment business, celebrates its first birthday. To coincide with this, Norwich Union International will be launching 20 new funds in the UK, including a series of three Fund of Funds and six socially responsible investment funds (SRI). The new fund range will be available through the Norwich International Portfolio Bond and the Norwich International Investment Bond.

Funds of Funds

NUIL will introduce three new funds of funds, cautious, balanced and growth - all of which will be comprised from NUIL's existing fund range and will be managed by leading multi manager investment specialist, Investment Manager Selection Limited (IMS).*

The Norwich International Fund of Funds range will invest across NUIL's entire suite of quality funds, offering the potential to maximise the overall returns whilst potentially minimising the volatility of the investment portfolio. The Norwich International Fund of Funds is available through the Portfolio Bond.

• The Norwich International Cautious Fund - low risk investment providing higher sterling returns than would be achieved from investing in a traditional sterling bank deposit account.
• Norwich International Balanced Fund: long term capital appreciation and income, greater emphasis on bonds than the Growth fund.
• Norwich International Growth Fund: long term capital growth, with greater emphasis on equities that the Cautious and Balanced funds.

Steve Johnson, Director of Distribution UK at Norwich Union International said: "We are delighted to be working in partnership with Investment Manager Selection (IMS). The company's strength is in providing an specialist investment service so that clients with little investment expertise can invest in our products safe in the knowledge that a team of experts are looking after their portfolios. In addition the team of investment specialists maintain a process of continuously selecting and rebalancing an investment portfolio, thereby ensuring smoother investment returns. "

Nigel Slade, Managing Director of Investment Manager Selection Ltd said: "We are delighted to be associated with Norwich Union International and their new funds. The investment performance achieved by our other clients has been outstanding and, with the proven expertise we have at Investment Manager Selection, we are confident we can make a significant contribution to the success of these funds."

SRI

The range of six SRI funds will provide an opportunity for investors to participate in what is becoming a fast growing sector. The strong demand for companies that are committed towards social responsibilities is set to continue across the globe as environmental pressures, human rights legislation and the need to preserve global resources increases in importance. The fund range will be managed by Norwich Union's specialist SRI team.

Steve Johnson, Director of Distribution UK at Norwich Union International said: "Through the SRI funds investors can take advantage of significant long-term growth opportunity while supporting socially responsible companies. Norwich Union International believes that the successful companies of the future will be ahead of the game in living up to their social responsibilities and will combine forward thinking with solid performance."

The SRI Fund Range will include:

• Norwich Sustainable Future Corporate Bond Fund
• Norwich Sustainable Future UK Growth
• Norwich Sustainable Future Absolute Growth
• Norwich Sustainable Future Global Growth
• Norwich Sustainable Future Managed
• Norwich Sustainable Future European Growth

More Quality Funds

As well as fund of funds and SRI, Norwich Union International is adding a further 11 new funds all of which have been carefully selected to enhance the fund range. Quality fund selection is a cornerstone of Norwich Union International's proposition to the market. To underpin this commitment, NUIL select only those external funds which a Standard & Poor rating of at least "A", although many of their third party funds are "AA" and "AAA" rated. The range includes UK, European, global, themed, technology and specialist funds.

Jon Herbert, Chief Executive Office of Norwich Union International Ltd commented: "We have had a successful first year, but we're not resting on our laurels. We have very ambitious plans for the future, and the addition of new funds is part of that strategy. The 20 new funds are a logical addition to our current portfolio. Our increasingly wide range of truly quality funds, allows the IFA and investor to select a fund which best suits their investment profiles whilst also allowing them to take advantage of investing offshore."

Ends

Media contacts:

Olive Fogarty, Norwich Union International
00353 (1) 8028415

Rebecca Ellis-Owen/ Andrew Waterworth,
Financial Dynamics - 020 7269 7112/127

Notes to editor

• The Norwich International Portfolio Bond - gives access to a diverse range of international funds including 20 managed by Norwich Union Investment Management and the world's leading investment managers. The managers have been selected by NUIL after being independently assessed by the research agency Standard & Poor' s Fund Services and include Credit Suisse, Fidelity, Henderson, INVESCO, Merrill Lynch, Perpetual and Schroders.
• The Norwich International Investment Bond - offers investors access to international investment funds managed by Norwich Union Investment Management, plus 3 currency funds.

* Investment Manager Selection Limited (IMS) Founded in 1999 by Richard Timberlake, former founder MD of Fidelity International Europe, Founding Chairman of Fund Research (S&P Fund Research) as well as founder and Investment Director of Portfolio Fund Management. The three principals at IMS each have over 30 years experience in the investment industry. The company is 100% owned by its directors and staff, ensuring independence and continuity of service. IMS currently advises on over $1.5 bn of assets for its clients.