Norwich Union has announced the introduction of 57 external funds to its range of investment bo...
Norwich Union has announced the introduction of 57 external funds to its range of investment bonds. This means 86 funds are now available through the NU bond wrapper featuring index trackers, managed funds, fixed interest, UK and international equity, specialist equity and specialist managed.
The new funds are available to any client who has invested in the Portflio Bond and FlexiBond since 2 October 2000 and any Bond 2000 investor since 25 June 2001. NU is also expanding the fund range on the Bond 2000 to include all the funds already available on the Portfolio Bond and FlexiBond.
Julie Chong, head of investment propositions at NU, said: "For IFAs, the increased flexibility combines the scope to manage client's investment portfolio with the convenience of a single investment bond. Through the introduction of these external funds, we are now able to provide a convenient way to switch between funds and fund managers without incurring the tax disadvantages of encashment."
Christopher Cade, assistant director at Baring Asset management, commented: "This approach allows a client to select a group or manager for a particular area of expertise and provides your clients with greater flexibility - switching is easier, quicker and usually cheaper as well within one single umbrella."
Policyholders can invest in up to 10 funds and have four free switches a year with subsequent switches at £25 each.
The external fund managers available through the NU range of investment bonds are Aberdeen Asset Management, Baring Asset Management, Deutsche Bank, Gartmore, Invesco, JP Morgan Fleming, M&G, Merrill Lynch, Schroders, SocGen, and Threadneedle.
More information is available on 01904 452634 or www.norwich-union.co.uk/ifa
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