The IDEX Protected Principal Stock Fund, with a guarantee of principal and lower loads and expenses after a five-year holding period, offers investors the upside of market participation and downside protection.
The fund will have quarterly offerings, with the first being from April 15 to June 27, 2002, and with the first investment date beginning July 1, 2002.
It will be sub-advised by Gateway Investment Advisers
and will invest chiefly in the stocks included in the
S&P 500 Index.
According to a news release from IDEX, the funds annual step-up provision is unique.
Each year investors may elect the option to step-up
their guaranteed amount by locking in any market gains.
Each step-up will result in a new five-year holding period
and will change the principal guarantee to the new