Norwich Union is to offer a new series of its Guaranteed Fund, which will be available from 5 September 2005.
Norwich Union is to offer a new series of its Guaranteed Fund, which will be available from 5 September 2005.
The Guaranteed Fund is designed to provide capital growth through investing in a wide range of assets, and also guarantees that the value on the 5th anniversary will be no less than the original payment into the fund.
Each series runs for five years and invests in UK and international equities, bonds, property and cash. At launch between 40% and 45% of the fund will be invested in equities and property but this figure could rise or fall depending on market conditions.
The fund is actively managed and aimed at cautious investors. It is available through Norwich Union’s Portfolio investment bond and the minimum investment is Ł5,000.
Neil Davies, head of investment at Norwich Union, said: "The Guaranteed Fund is popular with cautious investors who want to invest in the stock market but don’t want to take too much of a risk with their money. The fund is popular with financial advisers because it offers exposures to a wide range of assets.
"It invests in a diversified range of assets that can include UK and global equities, property and fixed interest. The fund is actively managed by our experienced fund managers."
The guarantee applies only on the fifth anniversary. If money is taken out before or after that date, the customer may not get back the amount invested.
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Cheryl Cox 01904 452617 Out of hours 07800 695275
Notes to editors
About the Norwich Union Guaranteed Fund
The Guaranteed Fund is designed to provide capital growth while providing a guarantee that the value on the 5th anniversary will be no less than the original payment into the fund. Any withdrawals, switches and charges from the fund will reduce the guaranteed amount in proportion to the number of units cancelled. The asset mix of the fund will vary to manage the cost of the guarantees. The Guaranteed Fund is available only as a five-year investment.
About the Norwich Union Portfolio investment bond
The Norwich Union Portfolio bond offers a flexible way to invest for growth or income. Its minimum investment is Ł5,000 and investors can choose to put their money in a selection of funds including with-profits, equity, distribution, property, bonds and cash, which are run by Norwich Union and other fund managers.
- Is simple and flexible - offering a wide choice of internal and external funds and a choice of two charging structures within a single bond
- Has clear and easy to understand charges - explicit charging provides investors with a clear picture of the charges applicable to their investment
- Funds on offer – offers investors the choice of income and growth funds. Investors can choose from a range of 31 internal funds as well as more than 100 funds managed by 12 industry-renowned fund managers
About Norwich Union
- Norwich Union is one of the UK's biggest insurers. It is a leading provider of life, pensions and investment products and one of the largest Financial Adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.
- Norwich Union has strategic alliances with building societies and other leading UK brand names including CIS and The Royal Bank of Scotland Group. Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media.