CGU Life has developed a fund that provides both a degree of capital protection and exposure to potential returns available on the stock market.

The "Guaranteed Managed Fund" has a 60 per cent investment in Irish equities and 40 per cent in fixed interest. On the fifth anniversary of the fund, the capital is fully guaranteed irrespective of the performance of the fund. Unlike most tracker products, potential return levels are not limited. According to the literature, the investment is a "managed fund with guarantees built in". There are no up-front charges or bid/offer spreads.

There is an annual "fund management charge" of 1.25 per cent and an additional 0.5 per cent "plan management charge" that applies for the first five years for investments over £10,000.