Royal & SunAlliance has launched its Lifestyle investment bond, which allows re-investment of with-p...
Royal & SunAlliance has launched its Lifestyle investment bond, which allows re-investment of with-profit bonuses in a range of unit linked funds.
The bond, launched on 10 January 2001, is a single flexible product with 20 fund options, including with-profits, unit linked and income distribution, and allows up to 12 penalty-free fund switches a year.
The opportunity to reinvest with-profits bonuses in the client's chosen unit linked funds creates a phased investment plan, by allowing bonuses to be reinvested in a range of funds from Cautious Managed through to the specialist EuroTech.
Withdrawals of up to 7.5% per annum can be taken on a regular basis, either monthly, quarterly, termly, half-yearly or yearly and can be based purely on the annual bonus element.
For the unit linked and income distribution funds there is a single annual administration charge of 1.25%, reduced to 1% from the sixth year. The with-profits fund has no explicit charges as expenses are taken into account when setting the bonus rates.
Mark Edwards, Royal & SunAlliance IFA personal market leader, said: "By combining our fund range, IFAs can reflect the level of risk for each individual client. We believe there is also an opportunity to widen that traditional market to include younger ages."
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