single and regular premium bonds now offer more choice
Canada Life International has added five funds to its offshore bond platform, which includes a mix of property, multi-manager, income and bond portfolios.
The funds are available through Canada Life International single and regular premium investment bonds. The minimum investment is £100 per month for the regular savings plan or £6,000 for a single sum.
Canada Life International provides a flexible commission structure for advisers, with a maximum commission payable of 8% for single and 7% for regular plans. It is only being marketed in the UK.
The first fund added to the platform has been the Fidelity Global Property fund. This portfolio launched in January 2006 and invests in property companies around the world such as offices, hotel, retails outlets and industrial units. Steve Buller has managed the fund since launch.
He said: "We still see a tremendous amount of fund flows into global property. With the gradual expansion of economies around the world, real estate fundamentals are generally improving. Demand for space has exceeded supply in most markets."
Another property fund that has been added to the platform is the Insinger de Beaufort Real Estate Equity portfolio. The product, which launched in October 2003, invests in a diversified portfolio of European funds, Real Estate Investment Trusts and companies that invest in property.
For investors who want income, Canada Life International has included the Invesco Perpetual Income fund on its offshore platform. Managed by Neil Woodford, the portfolio invests in UK companies and its top 10 positions include National Grid, Centrica and BT Group.
The Artemis Strategic Bond fund has also been included on the platform. James Foster and Alex Ralph have both been managers of the portfolio since it launched in June 2005. Presently they believe the outlook for fixed investments remains uncertain, with further interest rate rises forecast in Europe and the US, but feel a lot of the bad news has been priced into the market. Both managers see opportunities within the government bond market.
The multi-manager product to be added is the Fidelity MultiManager Special Situations portfolio. The fund, which launched in January 2006, was brought out in response to demand from intermediaries for a more aggressive multi-manager portfolio. Chris Ralph is manager.
Canada Life International adds five funds to its offshore bond platform
Includes a mix of property, multi-manager, income and bond portfolios
Available only to UK market
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till