Polish independent advisory firm Expander has raised almost PLN80m (€19.5m) with its latest two offerings, Salsa 2012 and Spokojna Przystań, which offer exposure to Deutsche Bank and BNP Paribas proprietary indices, respectively.
The recently subscribed Spokojna Przystań - wariant I and Spokojna Przystań - wariant II, two three-year tranches linked to the performance of the BNP Paribas Harbour Index, have jointly raised almost PLN40m (€9.7m). According to SRP data, the non-protected version was more appealing as it raised more than the fully-protected version. More than 1,000 investors have subscribed to the two products.
Another life endowment policy marketed in December, Salsa 2012, whose two matured predecessors Salsa I and Salsa II delivered returns of 11.13% AER and 8.16% AER respectively, attracted 1,023 investors and sold PLN40.1m (€9.8m).
"[Since December 2012 when it was launched] it has already grown by almost 3%", said Piotr Nowak, an investment product director at Expander. According to Nowak, these products are an alternative to bank deposits due to interest rates declining significantly in recent times.