Bank of Ireland FSharp has launched a euro-based protected bond with returns linked to a portfolio o...
Bank of Ireland FSharp has launched a euro-based protected bond with returns linked to a portfolio of funds.
The Euro Protected Bond is offered as a combination of a one-year deposit paying a rate of 4% on 25% of capital and a three-year deposit with the return linked to the performance of a portfolio of funds. After one year, the 25% deposit is put into an instant access account.
There is also an option to put the whole investment into the portfolio of funds and ignore the one-year deposit.
The rate of return for the three-year deposit is based on the performance of the portfolio and will equate to 65% of the percentage increase in the value of the fund portfolio over that time.
The portfolio consists of four major funds: Invesco GT Bond Fund; American Express Global Bond, Parvest USA Quant, and CA Funds Eurostoxx.
Each fund has an equal weighting of 25% within the portfolio. Regardless of how the portfolio performs capital is fully secure.
Minimum investment in the fund is E7,500.
Mark Johnson, head of sales and customer services at Bank of Ireland FSharp, said: 'The Euro Protected Bond is designed to provide our customers with the potential for both capital and income growth through our selection of two income and two equity funds.
'This product has been developed with the intention of allowing applicants access to actively managed funds without the costs and risks that are normally involved with direct investments.'
Bank of Ireland FSharp will accept deposits up to 23 September 2002.
Bank of Ireland FSharp was launched in October 2001 as a result of the merger of Bank of Ireland International and FSharp.
Based in the Isle of Man it is wholly owned by the Bank of Ireland Group and registered with the Isle of Man Financial Supervision Commission for banking and investment business.
Bank of Ireland FSharp is open to both corporate and individual clients.
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From 6 April 2019