IRELAND – Dublin-based financial services group, Irish Life International, has launched the Secured Growth Bond Series8 fund. The new fund, like its seven predecessors, offers full capital security.

The new fund, which is aimed at both institutional and retail clients throughout Europe, has two investment options based on different risk and return profiles.

The first option has a three and a half year investment term and offers 100% security on the original capital invested regardless of market conditions if held to maturity. A second option has a five year investment term but offers an additional minimum 10% return on top of the original investment if, again, held to maturity.

The fund is denominated in euros, sterling and dollars with a minimum investment of 10,000 in any of these three currencies. It is benchmarked against the Dow Jones global titans index.

A spokeswoman for Irish Life says they launched the new fund in response to customer demand despite the downturn in the markets.

“We started the secured growth bond series back in 1995 and each of the seven previous issues has exceeded expectation. Despite volatility in the markets over the last couple of years, we are confident Series 8 will be as successful,” she says.

Irish Life International is part of the Irish Life and Permanent Group which currently manages more than €19bn.