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22 November 2007

Westpac launches second Guaranteed Portfolio Service

Westpac Banking Corporation has launched its second Guaranteed Portfolio Service product (GPS), offering wholesale investors access to a diversified portfolio of managed funds along with full capital protection.

"GPS is a unique opportunity for investors to gain exposure to a select range of managed funds via an innovative and competitively priced product," said Craig Keary, Westpac's Head of Sales, Equity Derivatives.

The latest GPS product will only remain open to investors until December 10, 2007.

With a minimum outlay of $500,000, a wholesale investor will gain access to five wholesale managed funds and a range of special features including 100% finance and 100% capital protection at maturity.

Investors have the choice of investing in five underlying funds on a fully capital protected basis at maturity, with capital protection provided by Westpac via its Dynamic Portfolio Management strategy. The offer has a term of approximately 5.6 years with a maturity date of June 28, 2013.

The available funds are:

• Challenger Wholesale Select Australian Share Fund
• Aberdeen Asian Opportunities Fund
• DWS Global Equity Thematic Fund
• UBS Property Securities Fund
• Macquarie International Infrastructure Securities Fund

"Independent research houses have rated each of the available funds and the fund selection allows you to construct a portfolio across a number of different sectors and themes," Mr Keary said.

Westpac will provide investors with the option to take an investment loan for 100% of their investment amount. In addition, to help fund the first year's prepaid interest on an investment loan, the investor is able to apply for an Interest Loan.

'Westpac Equity Derivatives is committed to rolling out innovative and competitively-priced products," Mr Keary said.

"We are also committed to working in partnership with financial planners to achieve the best possible investment solutions with offerings that already include Protected Equity Loans, Warrants and Structured Products," Mr Keary concluded.