Isle Of Man Assurance Adds New Fund To Offshore Range

by Carla Johnson, Investors Offshore.com

12 June 2001

Isle of Man Assurance (IOMA) has announced the addition of a new fund to its Global Asset Portfolio fund range. IOMA says its new Global Premier Low Risk Fund links to a unique investment which participates in endowment policies but may also invest in other secure assets including ground rents, zero preference shares and with profit bonds. Through the fund IOMA intend to offer steady growth, with anticipated returns in the region of 10 per cent per annum in Sterling and 8 per cent in US Dollars and Euro currencies.

The fund contains three sub-funds valued and priced in Sterling, US Dollars and Euros respectively and has a currency hedge in place to negate any volatility associated with cross currency fluctuations. IOMA claims the fund is a suitable alternative for an investor seeking returns in excess of bank and building society deposits without the volatility normally associated with equity related investments.

Nigel Wood, Managing Director of IOMA, said: 'Our aim has always been to offer links to a select number of funds and be quick to market. The latest addition to the GAP fund umbrella comes at a time of uncertainty in the market and offers an additional cautious component for existing and potential clients.'

Already in operation (from 1 June, 2001), the minimum investment in to the underlying Premier Low Risk Fund is US$15,000 (or currency equivalent). For the Global Asset Portfolio wrapper the minimum level of investment is US$25,000 but investors can access the fund link with as little as US$3,750.

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