Norwich Union has added another 29 funds to its portfolio investment bond, bringing the number of available funds to 139. In addition to five offerings from Norwich Union, including the recently launched UK Special Situations and UK Growth & Value funds respectively managed by Schroders and JP Morgan Asset Management, there are funds from Aberdeen, Artemis, Fidelity, Investec, JP Morgan, Jupiter, Merrill Lynch, Schroder and Threadneedle.
Artemis and JP Morgan account for the most additions to the platform, with a total of four each. Artemis has had its Capital, European Growth, High Income and New Enterprises funds added, while JP Morgan's Emerging Markets, European Dynamic, Natural Resources and New Shares vehicles all join the portfolio bond too.
A number of specialist funds have also been added such as Threadneedle Latin America and Merrill Lynch Gold & General, both of which have been strong performers in recent times. "All funds are supported by a special offer of a 1% extra allocation rate, meaning more of investors' money is invested from day one," said Neil Davies, director of investments at Norwich Union.
There is no initial charge on the portfolio, which has two charging options in the shape of a 'Step down' structure, where charges reduce after five years, and a 'Level' option, where charges remain constant throughout the policy's life. The minimum investment is set at £5,000.
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