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News : Irish Last Updated: Apr 11, 2011 - 12:30 AM


New Ireland launches Capital Secure Bond with 7.5% One year Fixed Return Fund
By Finfacts Team
Apr 8, 2011 - 11:11 AM

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New Ireland, a unit of Bank of Ireland, today announced the launch of Secure Advantage 16 and the 7.5% Fixed Return Fund, the latest in a series of 100% capital protected investment products.

NI said with over €200m invested in the last 12 months in the series to date, the investment is designed for "cautious investors looking for a return without putting their capital at risk and who do not want to tie up all their money for a long period of time. This tranche is open for investment until 6 May 2011 with a minimum investment of €5,000."

The investment includes; One year 7.5% (gross) Fixed Return Fund - -  customers invest one-third of their money into a secure* one-year market-leading 7.5% Fixed Return Fund.

100% Capital Secure* Investment Bond – customers can benefit from returns in equity markets by investing two-thirds of their money in SecureAdvantage 16 over a term of 4 years and 11 months.

* NI said to provide the capital security on Secure Advantage 16 and the 7.5% Fixed Return Fund, New Ireland Assurance Company plc (New Ireland) has entered into an arrangement with the Governor and Company of the Bank of Ireland. The amount that New Ireland will pay at the end of each term will be based on the value of the New Ireland arrangement with the Governor and Company of the Bank of Ireland. In the event that the Governor and Company of Bank of Ireland is unable to meet its obligations to New Ireland, you may lose some or all of the amount invested and/or any return on your investment at the maturity dates. 

Commenting on the launch, Eoin Kennedy, Head of Products, New Ireland Assurance said: “Customers are continuing to adopt a more risk adverse investment strategy when it comes to their money. With Secure Advantage 16 cautious investors are provided with a solution that gives them the opportunity to participate in any future market recovery with the safety of knowing that, even if markets go down while they are invested, at a minimum they will receive back the money they originally invested at the end of the investment term.

“With the stock market in steady recovery now for two years, there are clear opportunities for investors to benefit from growth. We offer cautious investors the real potential to take advantage of today’s and future market opportunities but knowing that risks are minimised in that their original investment is 100% protected at the end of the investment term,”
he concluded.

Warning: The value of your investment may go down as well as up.
Warning: Your SecureAdvantage 16 investment may be affected by changes in currency exchange rates.
Warning: You cannot choose to cash in your SecureAdvantage 16 investment before the maturity date on 11th April 2016.
Warning: You cannot choose to cash in your 7.5% Fixed Return Fund investment before the maturity date on 11th May 2012.

Finfacts is reporting on this product, not endorsing it.

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© Copyright 2011 by Finfacts.com

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