Today, Norwich Union International Limited introduced a new range of Guaranteed Value Funds for Italy’s investors. Managed by ABN AMRO Asset Management, the eight new funds have been designed to provide investors with a maximum return while providing a guarantee.
Today, Norwich Union International Limited introduced a new range of Guaranteed Value Funds for Italy’s investors. Managed by ABN AMRO Asset Management, the eight new funds have been designed to provide investors with a maximum return while providing a guarantee.
Each fund has a unique maturity date and guarantees that the unit values at that date will be at least that of a Guaranteed Value fixed when the investment was started.
Furthermore, each fund locks in the day-to-day value of its units every month. Where this value is greater than that guaranteed at the beginning of the month, the new value is locked in and a new, higher guaranteed value is declared. The Guaranteed value can never decrease.
The new funds have been developed to add a guaranteed dimension to Norwich Union International’s Unit-Linked Union Star-Pulsar and Union Star-Orion portfolio.
Paul Shirley, Marketing Director of the Dublin based Life Company, said: "These new funds provide a unique set of solutions to the difficulties that Italian investors face in the current market. They still allow access to stock market growth but protect the unit prices by locking them in every month. Unlike other guaranteed funds in the Italian market they don’t restrict access to capital and are open-ended. With eight different maturity dates to choose from, this is the first time Italian investors and distributors have had such flexibility in a guaranteed product. It means they now have the autonomy to manage the term of their investment as they see fit.”
All funds are in euro and are invested in the ABN AMRO Target Click Funds, which are managed by ABN AMRO Asset Management. Investors will have access to the unit price of each fund as they are quoted daily.
Mr Rory Mason, Senior Vice President and Head of Global Fund Sales at ABN AMRO Asset Management, said: “We are delighted for the opportunity to work with Norwich Union International in bringing to the Italian market these innovative life cycle investment products. These products aim to facilitate clients to meet their financial targets with a controlled level of risk. Through this offering, Norwich Union International also provides investors with a unique combination of daily liquidity, stock market exposure, wrapped in a bank guarantee."
- Norwich Union International is part of CGNU, the UK’s leading insurance group and the seventh largest in the world. The CGNU Group’s activities concern long-term savings, the offer of insurance products and services, and fund management, with sales of insurance premiums and investments throughout the world totalling Ł27 billion.
- ABN AMRO Asset Management is one of the world’s leading asset managers, with more than 30 offices worldwide managing over 175 billion euros. ABN AMRO Asset Management’s main business is managing the investments of private and institutional clients such as central banks, pension funds, insurance companies and other institutions.
For further information please contact: Sergio Pisano/Chiara Signorotto
MS&L Mavelia Bellodi Relazioni Pubbliche
C.so Venezia, 16 - 20121 Milano
tel: 02/ 77336.252 – 02/77336.209
e-mail: sergio.pisano@mslitalia.com
chiara.signorotto@mslitalia.com