NIB starts equity bond tracker fund

National Irish Bank has started a new Equity Bond tracker fund that invests in the European and Japanese stockmarkets. The new bond offers a 100 per cent capital guarantee for an investment period of three years and tracks the Eurostoxx 50 Index and the Nikkei Dow 225 Index. In the last six months of the bond's term, a price averaging feature kicks in to safeguard the investment against any sudden movements in either market and therefore maintains gains over previous years. The minimum investment is £5,000 (€6,348) and there are no management fees or set up charges.