engage press releases

April 2007


Intrinsic financial services takes on engage Mutual Progressive Bond

Intrinsic Financial Services has extended its multi-tie product
portfolio in association with Harrogate based engage Mutual Assurance. Intrinsic will distribute engage Mutual's Progressive Bond - a single-premium bond designed to meet the needs of customers looking for equity equivalent returns with lower volatility. This is the latest high profile relationship for engage Mutual, which has recently entered the adviser market and already enjoys relationships with some of the top companies in each of the life, retail and building society sectors.

engage Mutual's Progressive Bond aims to offer a solution for those customers seeking a balanced portfolio with the potential for better than cash returns; with profit reviews and re-balancing of portfolio risk. The bond also provides an option for penalty-free access to capital for clients who are unsure as to whether they will need the money in the first five years.

Andrew Haigh, Chief Executive of engage Mutual Assurance, says:

"As a modern mutual we are keen to provide long-term investment products which help meet the needs of today's family. We are therefore very excited to be working with Intrinsic Financial Services. This is clearly a dynamic company which has demonstrated to us their appetite for strong growth through delivery of innovative and relevant product and service solutions.”

"This bond will appeal to those who want equity-style returns with lower volatility. The performance of the underlying fund over the recent market correction shows that it does exactly what is says on the tin and we believe it is potentially a core component in all client portfolios.”

The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.

Karl Elliott
Director of Marketing
01423 855 144
Karl.elliott@engagemutual.com

NOTES TO EDITORS
Product Information
    The engage Progressive Bond offers:
  • A simple investment solution for investors looking for equity-style returns with a global bond-style volatility
  • Global diversification with a fund of funds structure
  • Peace of mind of a degree of capital protection with the additional overlay of Constant Proportion Portfolio Insurance (CPPI). CPPI is an active fund management technique which aims to lock in most gains each quarter.
  • The value of the bond can go down as well as up and investors may get back less than they originally invested
  • Withdrawals in excess of 5% of the original investment in any of the first five policy years may incur exit charges
  • If an investor withdraws more than the amount by which the plan grows then this will erode the capital, possibly to below the original investment
  • The value of any assets denominated in a foreign currency may be affected by exchange rate fluctuations which may cause the investment to go down or up.

People who require full details of the engage Progressive Bond should contact engage Mutual on 0800 169 4321

    engage Mutual:
  • is one of the larger UK mutuals providing simple, value for money savings, protection and investment products.
  • currently helps over 350,000 customers of all ages to protect, preserve or enhance their welfare, with some of the most straightforward products on the market.
  • prides itself as a family-oriented, modern mutual, providing products that help enable households of all kinds to proactively plan their finances to meet their future needs. More information on engage Mutual is available at www.engagemutual.com
  • engage Mutual Assurance is a trading name of Homeowners Friendly Society Limited (HFSL), Registered and incorporated under the Friendly Societies Act 1992, Registered number 964F. Authorised and regulated by the Financial Services Authority (FSA). HFSL's FSA Register number is 110072. You can check this on the FSA's Register by visiting the FSA website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

engage Mutual can be contacted on 0800 169 4321 or by visiting www.engagemutual.com

    About Intrinsic Financial Services
  • Intrinsic Financial Services was established by Lord Leitch, the former global CEO of Zurich Financial Services life businesses. The venture has the financial backing of some of the leading names in the financial services industry - Friends Provident, HBOS and South African insurer Sanlam.
  • Intrinsic provides professional advice through its own appointed representatives, on a wide range of products and services from some the UK's market leaders including life, pensions, investment, general insurance and mortgages. At the heart of the Intrinsic proposition is a 21st Century easy to use and fully integrated point of sale system.
  • Lord Leitch has been joined by former industry colleagues; Kevin Ronaldson; David Capel; Wallace Dobbin; Richard Freeman and George Higginson.

For further Information:
Ben Howell
Communications Manager
Intrinsic Financial Services
01793 647 426
ben.howell@intrinsicfs.com


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