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Clerical Medical launches Austria fund

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22. June 2007

The British life investment and pensions firm, Clerical Medical, is to launch a new unit-linked Austrian life fund that offers a unique 80% capital guarantee model. With the ‘CMIG Guaranteed Access 80% Austria Fund’ investors can be sure that the unit price will never fall below 80% of its highest ever level, which is calculated daily.

General Manager of Clerical Medical Austria, Bernd Hartweger, explains that investors became more risk-averse following the recession of 2000/2001. But as the markets have recovered in recent years, so investors have regained their appetite for risk. This new Austrian fund will enable clients to benefit from positive developments on the Vienna Stock Exchange whilst at the same time offering them the added stability of the guarantee. Up to 87.4% of the fund capital will be invested in Austrian shares and derivatives. The remaining 13.6% will be invested in low-risk money-market securities.
Clerical Medical Austria was set up in 1996 and now has over 36,000 clients. Total administered assets have now exceeded the billion euro mark and look set to continue to grow dynamically.