Axa International's offshore portfolio bond wrapper has added a viaticals fund to its third party product links.
The Lifeline Capital Growth fund is a dollar-denominated Isle of Man domiciled fund run by Pacific Continental Securities, invested in traded life policies and viatical settlements.
The vehicle targets a 27% gain per three-year rolling time period. There is a 2% annual management fee deducted monthly. However it will be rebated at the end of the three-year rolling period if the return is sub-27% net of fees.
Lifeline has now entered its offer period and is looking to raise $50m, $20m of which has already been committed.
Peter Phelan, head of fund management at Pacific Continental, said the fund's offer document has also been circulated to a number of other offshore bond providers in a bid to broaden distribution.
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