As reported in International Investment last month, Scottish Equitable International (SEI) has launc...
As reported in International Investment last month, Scottish Equitable International (SEI) has launched its Reserved Interest Trust, which gives investors increased flexibility in taking income from the product.
The Reserved Interest Trust is linked to SEI's Investment Portfolio which offers investors access to a range of funds of different risk grades, as well as its new generation of with profits products and manager of manager funds.
Steven Whalley, product marketing manager at SEI, said: "The main advantage of the trust is that the investor can choose when they would like to take their income up to three times in the life of the bond."
Investors can set up the payments so that they are different from the 5% drawdown stream and so that they can vary at predetermined points.
The product is Dublin domiciled and the minimum investment is £50,000.
Margaret Jago, tax and trust technical manager at SEI, said that the bond was launched to make it simple for intermediaries to help their clients plan for inheritance tax.
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