Norwich Union is to offer a new tranche of its Guaranteed Fund.
Norwich Union is to offer a new tranche of its Guaranteed Fund.
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 fifth anniversary will be no less than the original payment into the fund.
The fund invests in UK and international equities, bonds, property and cash. Between 40% and 45% of the fund will be invested in equities and property. This figure could rise or fall depending on market conditions.
The fund is actively managed and available through Norwich Union’s Portfolio investment bond and the minimum investment is Ł5,000. The guarantee applies only on the fifth anniversary. If money is taken out before that date, the customer may not get back the amount invested.
Neil Davies, director of investment at Norwich Union, said: “The Norwich Union Guaranteed Fund is extremely popular with our customers. They like it because it allows them to benefit from stock market growth while protecting their original investment regardless of what happens to the stock market.”
The new tranche of the Guaranteed Fund will be available from 25 September 2006.
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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 139 funds managed by industry-renowned fund managers
About Norwich Union
Norwich Union is the UK’s largest insurer. 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 is the UK’s largest general insurer with a market share of around 14%, with a focus on insurance for individuals and small businesses.
Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media.