Offshore Investment Bonds

Albany guarantees return rate

Albany International, Canada Life’s offshore arm, has launched a new income bond with a guaranteed return of 10.5 per cent per annum.

The High Income Bond Series II has a capital return linked to the growth of the Dow Jones Eurostoxx 50 index. If the level of that index at the end of the three-year term is higher or equal to the starting level, the investment will be returned in full. If the index falls by up to 10 per cent, the minimum return for income versions will be the original investment minus any income already received. With the growth version, the minimum return will be the original investment.

Offshore Investment Bonds & The Product

The product also features a ‘millennium safety net’ devised to iron out large fluctuations which may occur during the millennium period.
Canada Life’s executive director Neil Stevens said interest in the bond has already exceeded expectations. “We expect to be fully subscribed before the end of the offer period.”