CGU Life has launched a 100% with-profits fund option for its Portfolio Investment Bond. This enable...
CGU Life has launched a 100% with-profits fund option for its Portfolio Investment Bond. This enables customers to invest 100% of their funds in the unitised with-profit fund, compared to the previous threshold of 75%.
The CGU Life Portfolio Bond will continue to offer investors a choice of investment options to match risk to reward, including the Guaranteed Fund. There is also access to 16 unit linked funds in addition to the unitised with-profit fund.
John Enos, head of IFA business at CGU, said: "The bond particularly suits investors who want more from their lump sum savings than can be achieved through many traditional savings accounts. The many different portfolios can be tailored by IFAs to suit individual investor's needs and requirements.
The Portfolio Bond already has a charging structure with no initial charge.
To promote its launch, CGU is continuing a special offer to customers. The higher the initial investment, the more CGU Life will contribute.
Investments will continue to attract extra allocation of between 0.5% and 1.5%, giving a total maximum allocation of 103%.
This offer applies until further notice. Sales of the Portfolio Bond increased from £1bn in 1998 to £1.9bn in 1999. CGU currently has 10% of the investment bond market.
Consultation closing 15 September
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