Ulster Bank has launched a new managed fund which offers a money back guarantee after five years and unlimited capital growth potential. Funds can be accessed at any time but the guarantee is applicable only on the fund's fifth anniversary. The bond is invested in Irish and international stocks as well as Government gilts with a minimum investment of £5,000 (€6,349).

There is an initial charge of 3 per cent for investments of £10,000 and over. Sums below this attract a fee of 4 per cent. There is also an annual management fee of 1.5 per cent. A special half of one percentage point bonus is being offered on all investments during May.