Dollar account cuts currency risk
The OPUS Diversifier USD Capital Guaranteed Income and Growth Deposit account is a six-year capital guaranteed product which has no charges. There is, however, a commission rate of 3 per cent set for financial adivsers.
The investment is split 50 per cent growth and 50 per cent income.
PIL said the difference between the two elements is access. The income half can be accessed at any time during the six years as PIL felt some investors might be cautious about locking up their whole investment for this time-frame.
PIL said it aimed to generate growth returns of 85 per cent based on the average rise in a weighted basket of assets comprising the FTSE 100, NYMEX Crude Oil Futures and the dollar/sterling exchange rate.
All returns are paid gross and the minimum investment is US$100,000. PIL claimed the account is the first of its kind available to sterling investors looking to avoid currency risk by investing directly in dollars.
The development follows the recent launch of PIL’s