New bond is aimed at individual and corporate trustees and offers a range of instruments
BoE Life International has launched a bond which gives investors exposure to a wide choice of collective investment schemes.
The bond is aimed at individual and corporate trustees. The Trustee Investment Bond enables clients to self-select the fund (the personalised link) or to request that the fund be chosen on their behalf (the select link).
The bond is available as a life assurance or capital redemption investment. There is a with-profits option.
Applicants from individuals, corporates and partnerships will also be accepted for whichever capital redemption version is most suitable for corporate and trustee clients.
Proceeds are available at the end of 99 years or on surrender of the bond. Initial and recurring fees are structured on a tiered basis. Initial fees range from 1.5% for the minimum premium of £100,000 to 0.75% for premiums from £750,000. Recurring fees range from 0.5% for £100,000 to 0.25% for premiums from £750,000.
There are no fees for switching, withdrawal, quarterly reporting, foreign exchange, dealing or surrendering. In certain circumstances, a market value adjuster may be applied to encashments of holdings in the BoE Life International With-Profits fund.
Trustees can request switches from one investment link to another. They can also request switches of the holdings between funds in the personalised link and between portfolios in the select link at any time.
There are over 60 fund links to 11 international investment houses. Within the select link there are seven risk-profiled portfolios that are constructed from this pool of funds.
The bond can be dominated in US dollars or euros. Further additions can be made to the bond, provided that a minimum of £5,000 is invested.
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