Hibernian Life & Pensions announces today, Thursday 28 September, that it has added three new funds to the AIB pension product range.
Hibernian Life & Pensions announces today, Thursday 28 September, that it has added three new funds to the AIB pension product range. The funds added are the UK Property Fund, High Yield Fund and Target 20 Fund. These funds are being added to AIB’s Personal Pension Plan, Executive Pension Plan and Approved Retirement Fund.
The UK Property Fund primarily invests in a portfolio of high quality UK commercial properties and shares in UK property companies. In addition, money may be held on deposit while waiting for investment opportunities. As the fund’s holdings are in UK assets, the fund managers may purchase special financial instruments to minimise or remove the effect of adverse currency movements.
The High Yield Equity Fund invests in the shares of around 40 companies that are paying significant and sustainable dividends – and which also have the potential for capital growth. The fund has an emphasis on large, well-established companies – and is diversified in terms of both geography and market sectors.
Target 20 Fund consists of 20 shares selected by the managers from their preferred themes and industries, in whichever markets and sectors they consider to have the greatest potential. The managers have full discretion when it comes to stock choice – and there is no specific geographical or sectoral bias.
Commenting, Gareth McQuillan, product development and marketing director, Hibernian Life & Pensions said: “The addition of these funds to the AIB product range is a further step in the integration of the Hibernian Life & Pensions and Ark businesses. We are very satisfied with the progress made in the integration process to-date and look forward to delivering more investment funds to the AIB range in the future.”
Performance to 31 August 2006.*
| Fund | YTD | 1 Year | 3 Years | 5 Years |
| UK Property Fund | 11.9% | 16.9% | 16.6% | 10.2% |
| High Yield Equity Fund | 9.2% | 17.4% | 13.6% | 4.6% |
| Target 20 Fund | -1.7% | 7.3% | 8.3% | -4.1% |
-ends-
Press contact:
Marie Therese Culligan, 01 617 8164, 087 2367008, marietherese.culligan@hibernian.ie
Notes to editors:
*This table is for illustrative purposes. Actual investment growth will depend on the performance of the underlying assets. The value of your investment may go down as well as up.
- Hibernian Life & Pensions reported 17% growth in Life new business APE basis in 2005. It employs over 800 people in Ireland. Its activities include pensions and life assurance, managing investments, general insurance and personal financial services.
- Hibernian is a subsidiary of Aviva plc, the world’s fifth-largest insurance group. Aviva’s principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of Ł35 billion and assets under management of Ł317 billion at 31 December 2005.
- Hibernian news releases are also available on www.hibernian.ie