AIG Life appoints Cairn Capital to value enhanced fund assets

23 October 2008

The firm will help policyholders who have had 50 per cent of their investment in the enhanced fund frozen to make a decision on whether to take the exit plan and withdraw their money in December or to take the maturity plan and guarantee their capital by keeping it in the recovery fund until 2012.

Clients who take the maturity option have been told that they will be able to withdraw funds in the meantime but these may be subject to losses.

Those taking the exit plan have been warned they could make a loss of around 30 per cent by selling now, but the opinion of Cairn Capital on the likely valuation of the assets will help policyholders to make a more informed decision.

Barclays Wealth, one of the firms with numerous clients in the fund, is understood to be writing to affected clients this week to offer guidance on the best option.

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