As many Cork investors continue to focus on wealth protection and preservation rather than wealth creation, Hibernian Aviva, the country's largest insurance group, has launched a new market beating deposit fund. Cork pension investors seeking security and a strong short term return can now get a market beating deposit rate of five percent gross over 15 months for deposits invested until September 2010 while also benefiting from the tax relief on pension contributions.

The fund, the Aviva Irl Fixed Rate Deposit Fund, works by investing in a fixed rate deposit account with Allied Irish Banks plc and will pay a fixed rate of return of four percent gross to investors who remain invested until September 30, 2010. This means that anyone investing before Tuesday, June 30 will get a five percent gross over the 15 months to September 2010. Customers will also receive a 0.5 percent extra allocation when they make an investment of A25,000 or more before the end of June.

At the end of the investment period, the value of the fund will be switched automatically to an Aviva Irl Cash Fund (subject to the terms applicable at that time) or on instruction to any fund across Hibernian Aviva's extensive fund choice. The investment is characterised as low risk as AIB provides a capital guarantee on the fund.

Commenting on the new fund, Michael Gordon, Executive Manager of Investments and Funds at Hibernian Aviva said, "In the current climate many Cork investors are looking out for peace of mind and security as well as a good return on their investment. A fixed rate deposit fund provides this security and the competitive investment rate and the extra 0.5 percent allocation on large investments makes the Aviva Irl Fund a very attractive option".

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