AIB introduced its equity-based "Eurobond" yesterday, pricing the unit bond at one euro (78.7p) until January 18th when it will invest in leading Eurozone companies. There will be no upfront charges for investors who must make a minimum £5,000 investment, according to AIB Investment Managers.

Just over 26 per cent of the Ark's portfolio will be in German stocks such as Daimler Benz, Bayer and Schneider. French companies, such as Carrefour, Danone and Accor, will account for 23.3 per cent of the portfolio.