PSL offers US life policies fund

Policy Selection Limited (PSL) is offering a fund based on the US Senior Life Settlements market to UK IFAs and their clients.

The Assured Fund, which is managed by PSL, has target returns of between 8% and 11% per annum with a six-year investment cycle.

The fund invests in US life assurance policies sold on the second hand market from sellers with a typical age of between 75 and 85, who may no longer need their policies and would prefer to use the cash to help fund their retirement.

Rogan Redfarn, business development director at PSL, says the most important consideration for the fund is to get good discounts on the policies, along with considerable due-diligence.

Assured Fund currently contains over 200 policies, with an independently verified valuation model and monthly pricing checks by Deloitte and Touche.

Redfarn says the policies are a good alternative to equities, which are currently undergoing a particularly volatile period.

He says: “Given the current volatility in global stock markets, independent financial advisers looking for a core capital growth investment alternative to with-profits funds will find the excellent returns very attractive for their clients.”

The fund is available to clients of UK IFAs with a minimum investment of £10,000 and offers 4% initial commission and 0.5% trail. Further incremental investments of £1,000 can be also be made.

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