Fedsure moves into pound seats overseas
FEDSURE spent the past year putting a formidable offshore investment capability into place.
In June 1997 it acquired a 25.5% stake in the Kingfisher group, based in the Isle of Man and specialising in international financial advice. It followed this with the 100% acquisition of two UK-based companies, Beale Dobie and Policy Portfolio, which deal in the traded endowment market.
In September 1997 the group acquired a 20% stake in NMG Holdings, based in Singapore with an office in SA, which specialises in financial services and employee benefits consulting. The group established Fedsure International Services Ltd, registered in the Isle of Man, to market Fedsure's offshore products to SA and, later, to export local products to defined overseas markets.
Fedsure International Services plc offers investors a choice of three portfolios with varying degrees of risk. Investors can choose from a high return growth fund, a medium risk balanced fund, and a low risk conservative fund to suit their specific needs and risk profiles. The fund is managed and administered by Guernsey-based LGT Asset Managers, one of the UK's most successful offshore fund managers.
A unique feature of the product is that it allows investors the opportunity to place up to 50% of their assets in a money market fund managed by Rothschild Asset Managers, part of the NM Rothschild group. Another Fedsure International product is a banking deposit facility with Irish Intercontinental Bank in Dublin that allows investors an opportunity to warehouse their allowance offshore in an interest bearing account. Investors taking a cautious approach will be in a position to choose a suitable offshore investment at a later date.
Vivienne Langen, marketing manager of Fedsure International Services, says: "Fedsure International Services plc is also offering two new global funds as part of its internal strategy to provide local investors with global diversification. Fedsure International Global Funds plc are mutual funds developed by Fedsure International and Irish life International (ILI). Fedsure recently acquired a 25% stake in ILI, with an option to increase its investment to 40% at the end of 2001.
"Fedsure International Global Funds is managed by ILI, whose multi-manager approach monitors the performance of fund managers worldwide and selects the best performing managers in each asset class. The funds offer a balance between risk and return.
"Similar funds achieved an average annualised US dollar growth of 18.8% and 16.2% respectively since their inception by ILI in 1994. The company received an international award from Micropal for this sturdy performance. It also recently won the Financial Times Publishing Group's award for best offshore life company of 1997. This award is confirmation of ILI's highly competitive and innovative products. Fedsure is proud to be associated with a group which addresses the needs of clients in such a competent and professional manner."