Norwich Union International is lowering the cost of investing offshore by passing annual management charge rebates onto Premier Portfolio investors.
Norwich Union International is lowering the cost of investing offshore by passing annual management charge rebates onto Premier Portfolio investors.
Investors in the Premier Portfolio offshore bond will pay a lower net annual management charge. Rebates will be credited to the investor’s Premier Portfolio bond on a quarterly basis. Annual management charge rebates will automatically start on existing and new Premier Portfolios from 31 October 2006. Premier Portfolio gives investors access to hundreds of investment managers offering thousands of funds across all world markets.
Norwich Union International is also increasing the value it provides to Premier Portfolio investors by offering them free dealing across the bond’s fund range. Some 20 free deals a year are being offered, in addition to no dealing charges when buying initial fund holdings, or when buying holdings with extra investments. Free dealing is available on new policies from 31 October 2006.
Paul Sherlin, Norwich Union International marketing director, said: “UK advisers and investors are increasingly making use of offshore bonds and sales grew by nearly 60% in 2005 to reach Ł4.7 billion. While tax mitigation has been one of the main reasons for this growth, the extensive investment choices available and an increasing emphasis on providing investors with better value for money have also driven sales forward.
“We believe that the offshore bond market in the UK will continue to grow strongly in the next few years and that Norwich Union International will play a major role in that growth. I’m delighted that we have been able to make Premier Portfolio even more attractive to investors and that the feedback from the adviser community has been positive.”
-ends-
Press office contacts:
David Gwyer 01904 452828 Out of hours 07800 699508
James Evans 01904 452791 Out of hours 07800 699525
Notes to editors:
About Premier Portfolio
The minimum amount for an investment in Premier Portfolio is Ł50,000/€75,000/US$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 the largest insurer in the UK. 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