SPAIN - Credit Suisse’s insurance and pensions division has launched a fixed income-only pension plan in Spain, citing new customer demand.
Winterthur Pensiones said in a statement that the new F100 scheme is a pension plan that invests all its assets in fixed interest securities. It was launched “to tackle the difficult situation currently affecting the world economy and markets in particular”.
“High market volatility has led to new demands of our customer, who are seeking alternatives for recent inconsistent equity performances in the safe investment offered by fixed interest securities,” Winterthur says.
The plan includes a management fee of 1.25% of plan assets and a depositary fee of 0.05% of fund assets.