NatWest International Personal Banking (IPB) has launched the eighth version of its Autopilot Account, which offers 100% capital protection and exposure to four asset classes.
The account’s assets are equally split between developed equities, emerging equities, property and gold. The account automatically rebalances on a monthly basis, diverting money into cash assets when markets are falling and linking to the one or more of the asset classes when they are rising.
Capital is guaranteed provided the account is held until maturity, which comes after five years. Performance is capped at 7% AER in any given month.
Dave Isley, head of Jersey-based NatWest IPB, said: “The account has been designed to simplify portfolio diversification and asset allocation by using a rule-based strategy that allocates your deposit carefully.
“Of course, if there is no growth in any of the market sectors, the depositor will not benefit from any returns, although they will still receive 100% of their capital back at maturity. However it is important to bear in mind that inflation may have reduced the purchasing power of a customer’s deposit.”
Key Dates for Autopilot account
Minimum deposit: £10,000
Currency: Choice of GBP/ Euro/ US dollar
Last date for application forms to be received: 27th November 2009
Last date for funds to be received: 11th December 2009
