UAF Patrimoine, the insurance company owned by Crédit Agricole’s LCL, has raised €22m euros of its first structured product Objectif Rendement 1. The firm distributes its products via the financial adviser community across France from four offices (Paris, Rennes, Marseille and Lyon).
The product is unusual as it is only the seventh capital at risk income product to be launched this year in France, out of 136 recorded overall launches.
The eight-year product offers coupons of either 3.2% or 0.5% every six months, depending on the performance of the DJ Eurostoxx50, with lock-in and catch-up features if the index achieves performances of 20% or 40% at one of the six-monthly observation dates.
Unlike other IFA-focused companies in France such as Adequity (Société Générale group) or Privalto (BNP Paribas group), UAF Patrimoine is an autonomous brand purely focused on life insurance offerings to high-net-worth clients. It is yet unclear whether this first structured product is part of a longer-term strategy for the firm.
This product is available on the French database.
