Slil's first offering from irish office to have flexible fee structure
Standard Life International (Slil) this month launches an international bond for UK residents as its first product, following the opening of its Dublin operation.
The minimum investment for the Standard Life International Bond will be £20,000 and it will be sold through intermediaries.
Murray Drummond, chief executive of Slil, said: "The product has a flexible fee structure for intermediaries and is designed to match the way they want to do business.
"For example, the intermediary can either take an upfront commission of 3% from the product or they can waive this if a client chooses to pay them upfront.
"Or if a client wants to spread the charge for the product over six years this can also be done and a 0.2% establishment fee will be charged across the time period. There are no switching charges."
Investors will have a choice of three investment options for the product. Firstly, they can choose to invest directly in a range of 50 external and internal funds, which will consist of a mix of equity, specialist, property and bond products.
Funds include JP Morgan Natural Resources, Artemis UK Growth, New Star Higher Income, Gartmore European Select, Jupiter Financial and Invesco Corporate Bond.
If investors do not want to invest directly in funds they can choose from either the manager of managers or fund of funds options.
Wilshire runs the manager of managers product which consists of four portfolios: overseas, UK, cautious and balanced. Those who prefer a fund of funds approach can choose either the Jupiter Merlin Income or Growth portfolios.
In addition, investors will be able to access the offshore bond through Standard Life's wrap proposition that is due to launch later this month. Standard Life is also hoping to make distribution deals with private banks for its bond products.
The second product from the Dublin office is due to launch in February and will be a discounted gift trust.
The insurer applied to the Irish regulator in March 2005 to establish a Dublin business and this will be used primarily to sell offshore policies back into the UK.
Drummond added: "With lifestyle changes offshore investment is no longer a niche market. Many people travel overseas for work or retirement, this opens the door for much more efficient tax planning. This is the start of a long-term commitment to the offshore market and we envisage that over time we will expand the products and services available."
Standard Life has a domestic company in Ireland selling pensions, protection and investment products and already markets products to continental Europe as well as having operations in China and India. In Germany, Standard Life sell with-profits policies and group and individual pensions from the UK under the third life directive.
Standard Life launches Dublin-based company.
First product to be International Bond for UK residents.
Flexible charging structure for intermediaries.
Moves to overweight equities and fixed income
The Big Interview: Focus on ethical investment
View from the front row
'No control or oversight'
359 new customers in 2018