ILP fund

Dear Mr Tan,
I am currently reading up on Unit Trusts and ILPs. Are all ILPs invested in Unit Trusts?

REPLY
An ILP operates like a unit trust. The insurance company put the ILP premium into a fund and invest the fund in shares, bonds, unit trusts and other assts. The ILP fund is divided into units. The price of each unit of the ILP fund is calculated daily based on the underlying value of the assets, divided by the number of units. Hence, the ILP fund is managed like a unit trust. Usually, the insurance company managed the investments of the ILP fund using their inhouse fund managers, but they may also outsource the investing to external fund managers.