The inverse of the contracts in euros, invested in units of account contracts are more risky, as being subject to the vagaries of the stock market, they cannot guarantee capital. Logic, the funds are invested in one or several financial formats, most of the time housed in FCP and mutual funds invested in shares. It can even involve a Fund in euros... According to its composition, the contract is then "monosupport" or "bundles". (A). Advantage The possibility to split the risk with its objectives, building on good performance. A multi-medium, for example can put 20 of the capital in a sicav and 80 of a Fund in euros.
The good years, the yields of these contracts are better than those of classical life insurance EUR contracts. But, in the situation current stock market, investors are grey mine and litigation may well explode. Because yields have squarely plunged. The average performance of the funds and mutual funds invested in shares blame according EuroPerformance - Six Telekurs, 41,11 (see chart). "It is obvious, the savers are happier when the stock market goes well, explains José Zaraya, Expert and finance." It is better to follow a certain balance in investment choices, to not be caught.
Past performance portend future yields step, hammer constantly life insurance specialists. Investor holding no guarantee capital of the funds invested in units of account, the insurers, as all of the distributors, advise generally split funds in shares and funds in euros, so that part of the capital is always secure. Contracts Office are to handle with caution. This includes interest on the stock exchange, follow the news markets, short, to be "connected" on the world stock market permanently.
Profiled funds
However, for the neophyte, free management of a multi-medium contract itself often. This is the reason why most institutions offer contracts with a profiled management. At each profile (careful, balanced dynamics...) is a mutual funds or a CPF with different proportions of shares, bonds and monetary investment. Each to its market by its degree of aversion to risk. Fund profiles the most shares saw their performance drop significantly in 2008. According to Morningstar, a prudent Fund is on average lost 7 last year, a balanced fund, 15, and a dynamic Fund 22. In other words, only contracts invested in euro made gains in 2008.
Need to both make a cross on the contracts in units of account "Our dealers encourage investors to return markets for 5 to 10, or more, so that savers benefit the bouncing of the stock market once they are on a long term investment philosophy", launches Thierry Scheur, April heritage. Same tone in LCL: "was more difficult to sell the UCITS actions, while it would have to enter these markets now, but our customers are reluctant, continues Olivier Turbé, head of marketing savings.". Propose a contract monosupport only in euros is not a good advice. If one lives in Brest and he wants to go to New York boat, should know if you want the sail or steam, and when the two means of propulsion, it is much better.
And all point to the flexibility of these contracts. "It is the only support to arbitrate without taxation, for its part indicates Sonia Fendler, Director of business development and innovation at Generali heritage.". On a good contract bundles must be of UCITS, obligations and several funds in euros, to arbitrate on the opportunities.
Whatever the choice of the investor, study the composition of the Fund proposed by the Bank or insurance company is essential. A labeled Fund "balanced" in an institution may have the characteristics of a dynamic Fund in another.
Arbitrate regularly
It must also ensure that the distribution of the profiled funds can be modified for annual performance. By example, if the contract provides for initially 40 of investment fund shares and that the stock market takes off, their share in the heritage will reach not 40 but perhaps 60 or 70. Conversely, if the stock market is doing poorly, shares will fall and no longer represent the expected 40. Hence the need to regularly analyze the performance of his contract and to arbitrate in function. "Life insurance contracts have a lot of flexibility, with a clipping options to secure or boost realized capital gains, and on the other hand the option of" stop loss "that allows to stop bad performance", launches Virginia Bayle-Beausir, Member of the Executive Committee of HSBC in charge of the marketing directions and commercial.
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