Tilman Equity & Bond Fund

Objective of the Tilman Equity & Bond
Fund (“The Fund”) is to provide long term capital growth from a portfolio of equities and bonds quoted in global markets.

• Fund Structure
• General Information
• Taxation & Charges

Fund Structure

The Fund is structured as a unit linked investment fund and uses Anglo Irish Assurance Company as the sponsoring life company, a wholly owned subsidiary of Anglo Irish Bank Corporation Limited. Investors make their contributions through a life assurance or life policy which in turn invests monies into the Fund. The Fund qualifies under the ‘gross rollup regime’ under the Terms of the Finance Act, 2000.

The investment adviser for the Fund is Tilman Asset Management Limited (“Tilman”), 3 Richview Office Park, Clonskeagh, Dublin 14. Tilman is authorised to provide investment advice by the Financial Regulator. The custodian for the Fund’s assets is Goodbody Stockbrokers Nominees Limited, a nominee company within the AIB Group.

Anglo Irish Bank Corporation Limited are authorised by the Department of Enterprise and Employment and they are responsible for statutory reporting, calculation of unit price, tax returns etc.

« Return to Fund Contents

General Information

Details of policyholder’s initial investment and the charges applying are set out in the Contract Schedule, which is issued at the policy documentation stage.

Standard money laundering and policyholder ID must be provided at the outset.

If you are in any doubt as to the suitability of the investment you should discuss it in detail with your financial adviser.

The minimum investment is €50,000, either in a lump sum or in consecutive contributions over time. Unit holdings of the Fund can be through a life assurance investment policy or through a pension policy.

Policies purchased on behalf of minors will be registered in the name of a parent or guardian. There is no upper age limit for the purchase of a policy.

Risk Factors

The fund should be considered as a longer term investment and investors should be aware that the value of the underlying investments and consequently the encashment value per policy can fall as well as rise. Investors may not receive back the full amount invested.

« Return to Fund Contents

Taxation

The Finance Act 2000 introduced a new taxation regime for investment funds known as Gross Roll-Up which allows investments to grow without deduction of taxes within the fund.

You will pay tax on the profit your investment makes when the following take place:

• you encash all or part of your investment at any stage;
• every 8th anniversary from the start of your investment;
• if we pay death benefits;

The tax is deducted at source by the insurance company, and paid to the Revenue following a full or partial encashment. The rate of tax payable is the life insurance exit tax rate applicable at the date of exit (28% at current tax rates).

No exit tax is payable by qualifying charities, trusts, or pension funds, however, local taxes may apply.

For Inheritance tax purposes the Fund is classified as an Irish Asset and any exit tax that has been deducted may be used to offset against inheritance tax. Please consult your tax advisor for further information

Charges

• First €25,000 2%
• Next €75,000 1%
• Next €400,000 0.25%
• Thereafter 0%
• Total €2,250 Max

The above charges are applied on a cumulative basis but the maximum payable by any one policyholder is €2,250. An Annual Management charge of 1.375% will be levied on the value of the fund.

« Return to Fund Contents