From 1 February 2007, customers may deposit money in the next, sixth subfund within the framework of the CU Unit Trusts umbrella fund.
From 1 February 2007, customers may deposit money in the next, sixth subfund within the framework of the CU Unit Trusts umbrella fund. The new subfund, CU Balanced, is a response to the growing interest in medium risk investment and expected profit. Under conditions of a promotion from 1 February to 30 April 2007, there will be no handling fee for deposits to the CU Balanced subfund. CU Unit Trusts has also organised a customer competition.
Since November 2006, CU Unit Trusts company has been offering an umbrella fund which automatically and without any formalities has incorporated customers of hitherto independent five unit trusts. This makes it possible for them to transfer money between subfunds without paying capital gains tax each time and to manage their investments more flexibly. From 1 February 2007, CU is supplementing its “umbrella” offer with the CU Balanced subfund and, as a result, it becomes complete as far as the customers’ most popular and comprehensible Polish asset unit trusts are concerned.
"Our survey of the entire fund market and observed conduct of our unit trust customers show that the number of people interested in medium risk and expected profit funds is growing. We think that this testifies to a growing level of knowledge and investment awareness. More and more customers realise that one cannot expect significant profits without becoming involved in equities but, on the other hand, there is the awareness that equity prices are currently high and a risk of adjustment always exits," says Marek Przybylski, general manager, CU Unit Trusts.
The CU Balanced model portfolio will be composed of Polish equities (40-60%) and debt securities.
Apart from to the promotion involving abolition of the handling fee for deposits to the CU Balanced subfund, CU Unit Trusts has prepared a promotion lottery with the slogan “Tax heaven” for its customers. Each 5,000 zlotys deposited into the new subfund between 1 February and 30 April 2007, gives one “lottery ticket” with a chance to win a trip to the Maldives, Mauritius or the Bahamas.
By end of 2006, CU Unit Trusts was managing assets worth over 1.7 billion zlotys. The share of external sales distributors last year exceeded 20%, and direct sales (mainly internet) 10%. CU insurance agents play a dominant role.
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Information:
Bohdan Bialorucki
Telephone: +48 22 557 43 41
E-mail: bohdan_bialorucki@cu.com.pl
For further information, see www.cu.com.pl
Notes to editors:
Commercial Union Poland group is part of the international Aviva group – the world’s fifth largest insurance, savings and investments group, and the largest in the United Kingdom by revenues. Aviva group operates in 25 countries. It occupies a strong position in the European Union, including United Kingdom, Ireland, France, the Netherlands, Spain, Italy and Poland. It also conducts large scale activities in the USA, Canada, Australia and Asia. It services approx. 35 million customers and manages assets valued at over Ł330 billion. For additional information, see the website www.aviva.com