Crédit Agricole's Emporiki is on the verge of marketing the InvestLife Efapax fund in Greece. The ten-year life-wrapped product is linked to the DJEurostoxx50, with a potential mid-way maturity if the index is at or above 124% of its initial level. Otherwise, it returns capital at maturity, plus the greater of 4% of initial capital and 100% of the rise in the index, based on six-monthly readings throughout.
Like earlier Emporiki products, InvestLife Efapax has been approved by the French financial markets regulator AMF and passported for distribution in Greece. The firm earlier raised €6.4m for Protected Fund Midas in April 2008, and €20m for Protected Fund Midas II in October 2008.
Once launched, the new product will be open until June 15.