Norwich Union is launching a special offer on its Portfolio Investment Bond.
Norwich Union is launching a special offer on its Portfolio Investment Bond. It is increasing allocation rates by 1% across all ages, premium sizes and funds. Allocation rates determine the percentage of a single premium invested at the outset of the investment. The special offer was launched on 23 May.
The new allocation rate for an investor aged 55 with a Ł50,000 premium is 103%. This means that a customer matching this profile with a Ł50,000 premium would have Ł51,500 invested in his policy. (Example assumes step down charging structure. See note to editors).
The special offer may be withdrawn or varied at Norwich Union's discretion at any time. Exit penalties in the first three years will also be increased by 1% during the period the offer applies.
Neil Davies, head of investments at Norwich Union, said: "Following our recent fund announcements to add 32 funds to Portfolio, this is further good news for investors and means they will now see more of their money invested from day one. Portfolio is popular with IFAs and customers and it now offers access to more than 100 funds from some of the UK’s leading investment managers."
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Press office contacts:
David Gwyer 01904 452828 Out of hours 07800 699508
Louise Soulsby 01904 452617 Out of hours 07800 699526
Notes to editors:
About Portfolio
- Portfolio offers a flexible way to invest for growth or income. Its minimum investment is Ł5,000 and investors can choose to put their money in a selection of more than 100 cash, bond, property, distribution, equity and with-profit funds, which are run by Norwich Union and other fund managers.
- Portfolio has no initial charge. Two charging structures are available: the Level and Step-Down Options. With the Step down structure, charges reduce after five years. The alternative is the Level option where charges remain constant throughout the policy’s life.
- Norwich Union is the UK's largest insurer. It is the UK's largest provider of life, pensions and investment products and one of the leading IFA providers. IFAs provide around 75% of the company's long-term savings business in the UK.
- Norwich Union has strategic alliances with building societies and other leading UK brand names including Tesco Personal Finance and The Royal Bank of Scotland Group. Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media.