Aeltus Investment Management of Hartford, Conn., having had success with earlier, similar products, has begun selling the Aetna Index Plus Protection Fund, a fund with guaranteed principal. This is the fifth such fund Aeltus has begun selling under the Aetna Principal Protection Funds brand since October of last year.
The new fund is structured like the previous four. There is a short offering period, from Oct. 2 to Nov. 29, when consumers can invest. Following the offering phase is a five- year-guaranteed period, which starts on Dec. 1 and ends Nov. 20, 2005. If a customer remains invested in the fund throughout the guarantee period, his principal is guaranteed, according to the fund prospectus. A customer can remove money from the account at any time, but that will lower the guarantee amount, according to the prospectus. The minimum investment is $5000 and nothing can be added after the offering period ends.