Norwich Union has launched a new open architecture offshore investment bond that gives investors access to thousands of funds from the world’s leading investment managers. It can also be used to reduce liabilities to Inheritance Tax when written under trust.
Norwich Union has launched a new open architecture offshore investment bond that gives investors access to thousands of funds from the world’s leading investment managers. It can also be used to reduce liabilities to Inheritance Tax when written under trust.
Premier Portfolio has been designed by Norwich Union International, Norwich Union’s Dublin-based offshore subsidiary. The new bond launches with more than 1,500 funds pre-approved by Norwich Union International, many of which are available at no initial charge.
But the choice does not stop there. Virtually any investment fund that the investor or their adviser wants can be added to the bond. Norwich Union International will vet and approve all funds to ensure tax efficiency and company requirements are met.
Premier Portfolio is available to new business from 31 January 2006. It will be available to sterling, euro and dollar investors and has a choice of charging structures.
Norwich Union International has also designed a new Inheritance Tax Planning solution. The Estate Protection Plan combines Premier Portfolio with a new trust, the Estate Protection Trust, and can be used to reduce a potential Inheritance Tax liability, while enabling investors to benefit from specified amounts of money at certain points in the future.
Clive Witter, chief executive of Norwich Union International, said: “The launch of Premier Portfolio opens a new market for us. We recognise that many of today’s investors need a wide choice of funds when it comes to making investment decisions. So we’re delighted to have answered the needs of investors and their advisers, by giving them a product which offers almost any fund they want.”
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Press office contacts:
David Gwyer 01904 452828 Out of hours 07800 699508
James Evans 01904 452791 Out of hours 07790 487105
Notes to editors
About Premier Portfolio
- The minimum amount for an investment in Premier Portfolio is Ł50,000/ €75,000/ $75,000. Premier Portfolio is designed to be a medium to long-term investment and should not be viewed as a short-term commitment.
- Norwich Union is one of the biggest insurers. It is a leading provider of life, pensions and investment products and one of the largest Financial Adviser (FA) providers.
- Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media