Irish Life has announced the maturing of its World Guaranteed Bond III, which has provided a return of 100 per cent net to investors over six years. The investment was a tracker bond, which gave investors access to a basket of world stock market indices with a complete guarantee of capital.

Investors in the fund, which opened in August 1995, doubled their money over the six-year period, representing a return of 12.2 per cent per annum after tax and all charges.

Mr Dermot O'Brien, Irish Life's head of retail investment business, said Irish Life was very pleased with the performance.