Axa Sun Life International has added two further fund links to its single premium Evolution and Esta...
Axa Sun Life International has added two further fund links to its single premium Evolution and Estate Planning Bond II products. The addition of Protector and International With Profits funds brings the total number of in-house managed funds available up to nine.
The Protector Fund is invested in the UK stock market and aims to provide a high level of capital protection. This is set at 90% of the highest ever achieved unit price of the fund, which cannot decrease. It is reset after each weekly NAV calculation enabling any gains to be locked in.
The International With Profits Fund invests in the Sun Life Assurance Society's With Profits Fund.
Its current bonus rate is 5.75%, net of annual management charge, with bonuses being added annually. A market value adjuster can be applied in some cases. The two funds are sterling denominated and have no initial charge. As both are linked to Evolution and Estate Planning Bond II, the relevant product charges apply.
Evolution and Estate Planning Bond II, launched on 26 June this year, are offshore bonds, denominated in either sterling, dollars or euros. The minimum investment level is set at £50,000
Two charging options are available, offering either level annual fees or else a higher initial establishment fee followed by lower annual charges. Both options include a quarterly administrative charge of £75 per policy.
Evolution has no fixed term, but early surrender charges will be incurred on a decreasing scale over either four or eight years depending on the charging structure selected.
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