Right after the peak of the pandemic crisis and with many countries still under lock down, on May 25th the Ancoria 4-Year SEK Autocall 5% Fund was automatically redeemed exactly two years after its launch date, providing our policyholders who invested in this Fund, a net performance of 10%. This return was rather impressive relative to the performance of the underlying index, the OMXS 30, which was only 0.1% during the same period!
A new structured fund was launched, the Ancoria 5-Year SEK Autocall 5.75% Fund, to replace the fund that matured. The new Fund was fully subscribed and it will give policyholders the opportunity to earn an annual return of 5.75% with a yearly automatic redemption feature depending on the performance of the OMXS 30 Index. Initial capital will be subject to a loss only if at the final observation date in year 2025 the Index drops by more than 35% from its initial level. The Fund also attempts to limit the issuer risk by investing in structured notes issued and guaranteed by five different highly ranked financial institutions.
If market conditions permit, we are planning to launch even more structured funds later in the year.