Unitised insurance fund
Portal
Mainly found in the UK and British Isles offshore jurisdictions, both single premium and regular premium policies offer access to wide range and types of assets for all types of investors.
Nature of funds
The funds are open-ended investments made available through life assurance companies. Unlike most collective investments there is no independent body tasked with safeguarding the assets. The company may manage, promote and hold the assets on behalf of the policyholders. The policyholders have rights to the assets but do not own the units, nor are they readily redeemable.
This said, in practise life companies tend to be well regulated and depend on their reputation which ensures consumer confidence when investing.
External links
- The FSA regulates life assurance companies in the UK.