Friends Provident is offering investors up to 2% extra allocation on lump sum investments into its I...
Friends Provident is offering investors up to 2% extra allocation on lump sum investments into its Investment Portfolio Bond until 30 June.
The offer applies to all lump sum investments of £10,000 or more. The allocation is 1.75% unless the application is submitted online, where the extra 0.25% is taken from initial commission.
Investment in the Friends Provident Portfolio Bond offers a range of 17 underlying Friends Provident funds, including with-profit, ethical and protected fund options, as well as an income withdrawal facility.
A range of pre-packaged portfolios is also offered, covering growth, income and managed strategies. Income of 5% can be withdrawn annually tax-free but a discontinuance charge of 8.5% is levied upon withdrawals of more than 5% in the first year, although this decreases to 7%, 5.5%, 4% and 2.5% each successive year.
Top-ups to the initial investment are counted as part of the initial investment for discontinuance purposes. Funds available include the AA-rated Friends Provident Stewardship Fund.
The £545m portfolio has outperformed the UK All Companies sector average over the three years to 5 April, posting growth of 1.26%, bid to bid, compared with a UK All Companies sector average of -1.38%. It is run as a low volatility vehicle investing in UK equities.
Friends Provident Tokyo is the group's only other Standard & Poor's-rated vehicle. The A-rated fund has returned 6.56% over the five years to 5 April, bid to bid, compared with a sector average of 3.03%.
It has no initial charge and a 1.25% annual management fee. Intermediary commission is payable at 5.25% initial or 3.25% initial plus 0.5% renewal. A further 0.25% is available to intermediaries processing deals online.
For further details, call 0870 6083678
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