The new share classes, aimed at institutional and sophisticated investors, include ‘GrowthPlus’ classes in Sterling, US dollar, euro, Swiss franc and Czech crown, and ‘Growth’ classes in sterling and Swiss franc.
The High Protection Fund is an absolute return fund that aims to deliver long term capital growth of between 8-9% by investing in a portfolio of life settlements. It was launched in June 2009 with Czech crown and US dollar growth share classes and the Euro growth share class was added in June 2010.
Life settlements are currently more attractively priced than at any other time in the last 10 years, MPL said, in part because there has been a significant increase in the number of current owners trying to sell them.
It also said that dramatic positive changes in the life settlements market such as tighter regulation and improved accuracy around longevity calculations has also made the sector more attractive for investors.
MPL highlighted separate research last month by The Deal, a business unit of TheStreet which reported in its annual life settlement survey that the face value of life insurance policies sold in the US reached $2.57bn in 2013, 17% than the $2.13bn equivalent figure in 2012.
MPL chief executive Jeremy Leach said: “The life settlements market is extremely active at the moment and whilst activity in the market continues to increase, prices remain at the most attractive they have been for over a decade.
“The new share classes are being offered at a time when research by MPL reveals a growing appetite for alternative asset classes in general from sophisticated retail investors. The research shows IFAs believe sophisticated retail investors will have a growing appetite for alternative asset classes in general.”
MPL imposed a "redemption gate" on its Traded Policies Fund last year, in the wake of new restrictions on sales of the asset class announced by the UK regulator in 2011.
