BT expands funds under Wrap Capital Protection
Strong take-up by individual advisers and dealer groups has seen BT expand the list of managed funds eligible for Wrap Capital Protection.
BT announced this week that the number had been expanded from over 80 to more than 150.
The company describes Wrap Capital Protection as being a solution aimed at those approaching and already in retirement because it helps preserve capital when markets fall.
Commenting on the development, BT Financial Group head of retirement Rodney Greenhalgh said 60 widely supported funds had been added to create what the company believed was a comprehensive and market-leading protectable menu.
Further, he said recent performance had demonstrated how Wrap Capital Protection had allowed investors to increase their minimum outcome in rising markets.
"Equity markets have performed strongly since we launched Wrap Capital Protection. Many of the early users took the opportunity to restructure their portfolios to their preferred growth allocation and they have benefited from this strong performance," Greenhalgh said.
He said that at the time of the first growth capture in February, the average growth achieved by investors in the protected funds had been 9.1 per cent and the average increase in minimum outcome was 5 per cent.
"Those who held the product from inception generally achieved much higher growth" Greenhalgh said.
According to BT, the product is available on BT's Wrap, Wrap Essentials, SuperWrap and SuperWrap Essentials platforms.
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