Luxembourg-based life company PanEuroLife is offering a capital-protected fund invested in a basket ...
Luxembourg-based life company PanEuroLife is offering a capital-protected fund invested in a basket of seven equity portfolios.
The Protected Equity fund, which has a five-year term, targets UK, European and Asian growth funds.
Returns are linked to the average quarterly performance of the underlying funds over the five-year investment period. The performance of the basket of underlying funds is calculated using the NAV of each fund on the observation date compared to its initial NAV on 29 September 2003, multiplied by its initial weighting in the basket.
The quarterly performance of the basket is calculated at each of the 20 quarterly observation dates, starting at the base date, 29 September, until the final observation date of 22 September 2008. On the final observation date, all 20 quarterly performance figures will be averaged to determine the final return figure.
The basket is 30% invested in Invesco UK Equity, 20% in DWS UK Growth, 15% in Franklin Mutual Beacon fund and 10% each in Fidelity Funds European Growth, Gartmore European Selected Opportunities and ACM Global Growth Trends. The remaining 5% is allocated to JP Morgan FF Asia Equity.
The product, which is sterling denominated, is available until 22 September and can be purchased within the Luxembourg-based Pharos and Pelf+ life assurance contracts. Minimum premiums for the Pharos and Pelf+ contracts are £5,000 and £40,000 respectively.
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