Friends Provident International is expanding its Isle of Man mirror range to give investors exposure...
Friends Provident International is expanding its Isle of Man mirror range to give investors exposure to the energy sector, fixed income securities and Eastern Europe.
The three funds to be added are the Invesco GT Capital Shield Fund, the Investec GS Global Energy Fund and the Baring Eastern Europe Fund.
The FPIL Invesco GT Capital Shield Fund aims to provide investors with returns in any market environment, while protecting at least 90% of the invested capital at all times. Martin Kolrep is manager of the portfolio.
Capital Shield portfolio takes a balanced approach in holding asset classes and is designed for the risk conscious investor. There is an active part of the fund that aims to generate a return of 3% above the short-term interest rate. The rest of the portfolio is invested in cash or cash equivalent securities. This portion of the fund aims to generate a return at least equal to the money market rate and offer protection against inflation. It is available in two currencies dollar and euro.
The FPIL Investec GS Global Energy invests in companies throughout the world involved in the exploration, production or distribution of oil, gas and other energy sources.
Tim Guinness is manager of the fund. He shifts the balance of the portfolio between the five main oil sectors which are exploration and production, equipment and services, integrated oil companies, emerging markets and refining. Risks to the fund include short-term volatility, but Guinness maintains that it has good long-term growth potential.
The Baring Eastern Europe Fund aims to achieve long-term capital appreciation through investment in a diversified portfolio of securities of issuers located in or with a significant exposure to the emerging markets of Europe. It has a high risk of high volatility, but potential for high capital growth. Klaus Bockstaller is manager of the fund.
Slow progress in improving diversity
Share purchase deal with assets of £28m
Came into effect in January
Three examples of compensation rule issues
Buying in baskets