Old Mutual International has launched International Executive Portfolio, a retail bond aimed at investors based in the Middle East and Africa looking to take advantage of offshore tax benefits.
The product launch follows the introduction of the Isle of Man Conduct of Business Code. The bond is available for customers investing at least $75,000/£50,000/€75,000 or currency equivalent, who want growth over the medium- to long-term.
“New industry rules such as the Isle of Man Conduct of Business Code make it essential that companies like ours keep up with the pace of change while making sure customers still have access to a range of different solutions to suit their needs. For this reason, we have created a new separate retail bond which complements our existing bond offering for professional investors in the Middle East and Africa,” said Paul Evans, head of region, Middle East & Africa, Old Mutual International in a statement.
Our new product is perfect for retail clients who are looking for the chance to invest in a wide range of different asset classes over the medium- to long-term. The bond can be the solution to multiple financial planning needs and is helpful for those looking to take maximum advantage of offshore tax benefits.”
The product offers a range of retail investment solutions such as stocks, shares, bonds and collective investments. Clients also have the option for a discretionary asset manager to be appointed to make investment decisions and construct a bespoke portfolio.
The product is available on Old Mutual International’s end-to-end online wealth management service, Wealth Interactive, giving clients the opportunity to monitor their bond’s performance and carry out transactions online using the platform.
“Our new product is perfect for retail clients who are looking for the chance to invest in a wide range of different asset classes over the medium- to long-term. The bond can be the solution to multiple financial planning needs and is helpful for those looking to take maximum advantage of offshore tax benefits.
“In an increasingly complex and diverse retirement landscape, this bond offers a solution for clients looking to plan for later life. Our International Executive Portfolio also helps clients with their estate planning so that they can pass on as much of their wealth as possible to their children and future generations,” Evans added.
Customers can also use the bond to plan for their retirement or as a way to pass on their wealth to future generations by using an appropriate trust or nomination, according to Old Mutual International, part of Quilter.