Scottish Widows International has launched a sterling with-profits fund and is looking to follow it ...
Scottish Widows International has launched a sterling with-profits fund and is looking to follow it up with euro and dollar-denominated versions.
The sterling product, designed as a balanced portfolio investing in UK equities, bonds and cash, is available via the group's international investment bond.
Mike Smith, international business development director for the group, said that as expatriates constitute a significant portion of its customer base, euro and dollar-denominated with-profits funds will be the next step.
'We are now working out how to increase the range in euro and dollar-denominated funds,' he said.
'One of the benefits of launching the sterling with-profits fund first is that we have done most of the systems work.'
Although there is as yet no launch date for the euro and dollar-denominated funds, Smith said they will predominantly invest in international equities to avoid currency risk.
The sterling with-profits option extends the range of funds available in the international investment bond wrapper to 21 and marks Scottish Widows International's first foray into offshore with-profits funds.
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