DaimlerChrysler chooses Invesco for fund offering
GERMANY – INVESCO has launched DaimlerChrysler Bank’s first fund, which has already attracted 80 million euros of investments.
In a bid to attract more customers, DaimlerChrysler Bank has been expanding is product offerings, and launched the new fund at the beginning of July. “The fund is part of our broader strategy as we try to attract new customers. We began enlarging our product portfolio last year,” said DaimlerChrysler Bank spokesman Harald Bertsch.
The fund model aims to protect 99% of the invested capital, if investors hold the shares from the initial issue until maturity in October 2004. At least 80% of the assets are invested in low-risk, fixed-income securities and liquid funds. The remaining 20% can be invested in equities. The asset allocation represents “the brand values of DaimlerChrysler Bank,” said Bertsch – that is, safety, and customers “should not lose money, but make positive returns.”
Bertsch said that INVESCO had been chosen to run the fund due to its good reputation, and DaimlerChrysler Bank’s need for a strong partner.
Other funds are expected to be launched, but there are no details as yet.