Invesco Perpetual has soft launched an offshore guaranteed wrapper around four funds with a view to ...
Invesco Perpetual has soft launched an offshore guaranteed wrapper around four funds with a view to launching similar products onshore.
The Invesco Capital Protected Equity-Linked Bond, available from the group's offshore Invesco GT arm, wraps the Invesco American Equity Core, the Invesco GT Nippon Growth, the Invesco UK Equity and the Invesco GT Continental European funds.
Intermediaries now have until 25 January to commit client money to the bond, to be issued on 1 February.
The wrapper guarantees return of capital on maturity of the product's full five-year lifetime and has a minimum investment of $5,000. The cost of the wrapper is limited to 70% of the upside of any growth achieved by the funds.
The portfolio of funds is invested 50% in the American fund, 15% in the Japan fund, 25% in the Continental European fund and 10% in the UK fund.
The final valuation of the portfolio at maturity is calculated by taking the average of the valuation at the end of each month over the final 18 months of the five-year period. The bond, which has an initial charge of 5% and the scope for 4% commission rebate, matures on 15 February 2007.
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