Article date: 9 May 2007
From the 8 May Norwich Union International will expand its property opportunities with the addition of the new Norwich European Property Fund to its offshore bond range.
The fund offers the prospect of investing in the emerging opportunities* in Europe, and will be available to new Sterling and Euro investors through the International Core Funds Bond and the International Investment Bond. The underlying fund is already available on Norwich Union International's open architecture bond, Premier Portfolio.
The European Property Fund allows customers to invest in a diversified property portfolio of office, industrial and retail, across the European Economic Area and Switzerland (excluding the UK). Offshore investors can invest from as little as £10,000 (or €15,000).
Neil Davies, director of marketing investments, said: "Our award winning property team has had great success with the Norwich Property Trust and we believe the European funds will strengthen our property range.
"The addition of these funds to our offshore bonds will allow investors to diversify their property holding across many more countries in the search for better returns with the added tax benefits offshore investing can offer."
Tax rules may change and past performance is not a guide to the future - the value of a fund and any income from it can go down as well as up and the investor may not get back what they put in. It is important to note that property investment may not be readily saleable and this may result in a delay in cashing in an investment in a property fund. The value of property is generally a matter of a valuers opinion rather than fact.
*Investment in emerging markets are likely to experience greater rises and falls in value, and may have problems in trading and settlement.
Press office contacts:
James Paterson 01904 452525 Out of hours 07800 692798
Louise Soulsby 01904 452617 Out of hours 07800 699526
Notes to editors:
About Norwich Union
Norwich Union is one of the biggest insurers. It is a leading provider of life, pensions and investment products and one of the largest financial adviser (FA) providers.
Norwich Union's news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media
Norwich Union won Property fund manager of the Year at the Property Week awards 2006 and Property Investment Manager of the Year Award at the PM Provider Awards 2006.