The Malta Independent 19 April 2024, Friday
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BOV offers MAPFRE MSV Life Capital guaranteed and Income Plans

Tuesday, 5 March 2024, 11:55 Last update: about 2 months ago

Guaranteed Capital & Capital Income Plan 2026 III (EURO) and Plan 2027 (GBP)

Following the success of previous tranches in 2023, Bank of Valletta is offering MAPFRE MSV Life's two new Guaranteed Capital & Income Plans: Guaranteed Capital & Income Plan 2026 III and Guaranteed Capital & Income Plan GBP 2027.  The Bank's customers have the opportunity to apply for these two offers which will only be available for a limited time.  In addition to the Capital Guaranteed and Income Plan denominated in EURO, customers can also apply for the Plan in GBP. Applications are being received at all BOV Branches, Investment Centres as well as the Bank's Private Banking at the BOV Premier Centre in Santa Venera.

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Speaking on the launch of these Plans, Ms Tonia Parascandalo from the Bank's Insurance Services & Pensions within the Wealth Management arm explained how these products follow on the success of the three editions of the Guaranteed Capital & Income Plans launched during 2023 by MAPFRE MSV Life.

"These products are based on our knowledge of the local investor and are specifically targeted at those customers that are looking for a product that offers a guaranteed capital and income repayment, should the investment be held until its maturity. This time round MAPFRE MSV Life is also offering a Plan denominated in GBP as well, in response to feedback received from our customers last year. Furthermore, we are also once again involving our experts at BOV Asset Management who are responsible for managing the underlying fund."

Ms Parascandalo also explained how the Bank's team of financial advisors at Investment Centres or Private Banking is available to discuss the different options available with customers and help the individual find the best solutions that address the particular circumstances and life stage. As circumstances change, one would be able to make adjustments so that the financial products owned address the specific circumstances of the individual at that point in time. "Our colleagues within our Branches, Investment Centres and Private Banking, are happy to support customers in managing their wealth more effectively, as an integral part of their financial well-being."

 

The Guaranteed Capital & Income Plan 2026 III

The MAPFRE MSV Life Guaranteed Capital & Income Plan 2026 III is a single contribution investment with a minimum investment of €5,000 linked to the BOV Capital Guaranteed Fund 2026, which is a sub-fund of BOV Investment Funds, managed by BOV Asset Management Limited. It will distribute two guaranteed payments, equivalent to 2.00% on 28th March 2025 and 3.50% on 27th March 2026, should the Plan be held to maturity. The annualised return is of 2.74%. The Plan will repay the Initial Contribution and the last payment at maturity on the 27th March 2026.

 

The Guaranteed Capital & Income Plan GBP 2027

The second MAPFRE MSV Life Guaranteed Capital & Income Plan on offer is also a single contribution investment but it is denominated in Great Britain Pound (GBP), and the minimum investment is of GBP5,000. It is linked to the BOV Guaranteed Capital Fund 2027, which is a sub-fund of BOV Investment Funds, managed by BOV Asset Management Limited. It will distribute three guaranteed payments equivalent to; 3.25% of the amount invested on 28th March 2025, 3.75% on 28th March 2026, and the final payment of 4.10% on 25th March 2027, subject to the Plan being held to maturity. The annualised return is of 3.70%. The Plan will repay the Initial Contribution and the last payment at maturity on the 25th March 2027. When investing in a product denominated in a foreign currency, exchange rate movements may affect the final value of the capital and return the investor gets when converting the money back into the home currency.

Subscriptions to either Plan open on the 26th February and close on the 15 March 2024 or earlier if the offer is fully taken up. Further information and the full terms and conditions applicable to the products are available at https://www.bov.com/


 

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