Scottish Equitable International (SEI) has added the first offshore CPPI (constant proportion portfo...
Scottish Equitable International (SEI) has added the first offshore CPPI (constant proportion portfolio insurance) product to its Dublin fund range.
The Protected Growth fund is expected to be the flagship fund in SEI's recently launched cautious range. It gives investors sterling exposure to some of the upside of equity investment returns, while limiting the downside potential by providing protection for a proportion of the investment and its future growth.
Equity exposure in the fund is linked to the FTSE 100 tracker managed by Merrill Lynch, which also includes dividends from companies in the index. Aegon Asset Management is to manage the cash positions. However, if the portfolio falls 29% below the FTSE 100 the fund becomes cash locked.
The level of protection is set at 80% of the highest ever unit price. The fund should not fall 20% below the highest price the portfolio has achieved. It aims to offer growth potential above that of bank deposits or building society accounts.
Protected Growth will be available to investors in SEI's Investment Portfolio, Estate Planning Portfolio and Flexible Investment Plan. The annual management charge is 1.6%. Minimum investment is £15,000.
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