Offshore bond by Investlife for UK market

Investlife, the BNP Paribas-owned insurer, has launched an offshore portfolio bond to the UK market, writes David Griffiths. The bond, called the Private Client Account, is a whole of life product and will be marketed exclusively through intermediaries by Pinnacle Investments. This will have a straight- forward charging process, with a fixed upfront fee of 0.75% and an annual management charge of 0.75%. There will be no surrender penalty. Intermediaries will be able to impose their fees on top of this framework. The vehicle offers gross gains roll-up and a draw- down facility of u...