Bank of Ireland Life & New Ireland Assurance launch new medium term Guaranteed Investment Bond

Today, 13th August 2008, Bank of Ireland Life & New Ireland Assurance are delighted to announce the launch of a new 3-year, 11-month term guaranteed investment bond – Guarantee Plus. Designed to provide lumpsum customers with an alternative to deposits over the medium term, Guarantee Plus will give customers exposure to a very diversified investment, without any risk to their capital sum.

With the stockmarket uncertainty persisting, both life companies are seeing a strong demand for lumpsum capital secure investment plans. The launch of Guarantee Plus today will fulfil the needs of customers who are looking for an investment with the potential to outperform deposits, with the added protection and peace of mind that a 100% capital guarantee provides.

Commenting on the launch, Eoin Kennedy, Head of Product Development for Bank of Ireland Life & New Ireland Assurance says; “The current weakness in world markets represents a great buying opportunity, but it also creates a lot of nervousness for investors. Guarantee Plus doesn’t just focus on the stockmarkets – just 25% is invested in equities – it also includes commodities, property shares and government bonds. This diversification, combined with a 3-year 11-month capital guarantee from the Bank of Ireland, will help to ease the concerns of many investors and give them the confidence to make the most of this great buying opportunity.”

Guarantee Plus will invest in four asset classes that span across three continents, offering customers an attractive, well-diversified investment portfolio. The portfolio will track key indices for the four asset classes with the investment equally split between equities, bonds, commodities and property shares.

Guarantee Plus is aimed at cautious investors seeking growth. The minimum investment required to participate in the fund is €5,000 and the fund will close on 12th September 2008. Further details are available on request from the Investment Adviser at your local Bank of Ireland branch, your New Ireland financial advisor or your broker.

The award-winning 6-year Guaranteed Evergreen Bond continues to be Bank of Ireland Life and New Ireland’s most successful guaranteed investment product with over €800 million invested since it’s launch in 2005.

ENDS

Notes to Editors:
Key Features of Guarantee Plus:

  • 100% Capital Guarantee
  • 70% Participation Rate
  • Highly Diversified – 4 distinct asset classes which span across 3 continents, offering an attractive diversified investment portfolio:
    • 25% – Equities: 10% S&P 500, 10% Eurostoxx 50, 5% Nikkei 225
    • 25% – Bonds: iBoxx Euro Index Eurozone Bonds
    • 25% – Commodities: 1/3 Oil, 1/3 Aluminium, 1/3 Copper
    • 25% – Property: EPRA European Property Index
  • Term: 3 years 11 months
  • Available to people aged 18-75
  • Minimum Investment: €5,000
  • No partial or full encashments allowed during the policy term
  • Protected Return – the return is averaged over the last 12 months to help shield you from any sudden drops in value just before maturity. However it should be noted that if the value of the basket of indices increases during this period then the return will be reduced.
  • Low Risk and Stress Free – Investors once signed-up can rest assured with a capital guarantee and no stress involved in managing their investment.
  • Charges: No explicit charges – all charges are implicit in terms of the offer.

For further information contact:
Laura Erskine
Public Relations Manager
Bank of Ireland Life & New Ireland
Ph. 01 617 2586
Mob. 086 856 2929

Sharon McDonnell
Group Consumer Communications
Bank of Ireland
Ph. 01 604 3750
Mob. 087 226 9324

New Ireland Assurance Company plc trading as Bank of Ireland Life is regulated by the Financial Regulator and is a member of the Bank of Ireland Group.