BNP Paribas offers Millenium tracker fund

BNP Paribas has launched its Millenium Tracker Fund as part of its Privalto Ucits III OEIC (open-ended investment companies) range. The fund is designed to provide exposure the BNP Paribas Millenium 10 Europe Series 3 Total Return index, which comprises a range of assets including Asian, European, Japanese and US equities, commodities, real estate and foreign exchange.

The fund, which is not capital protected, will offer daily liquidity dealing at the net asset value with no exit fees or bid-offer spreads. Credit risk to teh French bank is mitigated by the posting of G7 AAA-rated bonds as collateral. The fund has two share classes. Class A shares (retail) has an initial charge of 4% and an annual fee of 1.5%, while Class B shares (institutional) has an initial charge of 1% and an annual fee of 0.75%.

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