MetLife has launched a bond which allows investors to lock in a level of investment growth daily.
The protected growth bond, which also offers a choice of investment protection levels, allows investors to choose 90 per cent, 80 per cent or 70 per cent protection levels with equity exposure ranging between 90 per cent and 40 per cent. Each time a fund price high is achieved, a new protected unit price is locked in.
MetLife UK managing director Dominic Grinstead (pictured) says: “The protected growth bond takes the guarantee concept to a new level by providing the potential for increased growth while still ensuring savers’ money benefit from strong levels of protection.”
Protection charges on the fund are 0.7 per cent a year, with annual management charges starting at 0.35 per cent on the onshore bond and 0.6 per cent on the offshore bond. Fund charges are 0.2 per cent.