Guaranteed Return Investment Portfolio (GRIP)
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Description
This is an investment portfolio which currently enjoys high level of investors' patronage in the current bearish market. The GRIP is a principal guaranteed investment vehicle that offers returns of up to 18 p.a. The terms and conditions of the Guaranteed Investment Portfolio are as follows:
·Minimum tenor of 90 days.
·Participation in excess returns above the 18% minimum return on an agreed basis.
·At the discretion of either party, this investment is renewable or terminated at the end of initial tenor.
·Early termination attracts a penalty of 40% of interest earned.
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Guaranteed Return Investment Portfolio (GRIP)