Scottish Provident International (SPI) is preparing to launch an offshore technology bond in partners...
The new bond has access to SPI's Global Tech fund and their European tech fund, both of which are advised by Aberdeen.
The Global Technology fund has achieved 63.4% over six months, 125.5% over one year and 421% over three years. There is a 6% charge up-front for establishing the bond. This covers commissions. Then there is a 1.98% annual management charge priced into the fund. There are no exit fees or withdrawal clauses.
SPI approves of Aberdeen's focus on the companies that provide infrastructure to the new technology and away from the dot.coms.
There promises to be a change of leadership in the field of mobile telephony as the US and Japan, so long dominant in technology, have been overtaken by Europe.
Despite the recent volatility in the technology sector, investor sentiment has been surprisingly robust.
Liquidity is down in stock markets but a significant proportion of investors are still eager to invest in high risk TMT stocks, especially through mutual fund instruments.
For those investors who ultimately believe in the technology story, it is important to know how such stocks can be accessed in a tax efficient manner.
Full details of the new technology bond and its tax efficiency are due to be released at International Investment's offshore forum in London on 25 May at the Hilton London Metropol.
Contact Sophie Radnor on 020 7432 6922 or e-mail [email protected]
First mentioned in Cridland Report
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