Bristol & West International is to sell its structured products into the UK, despite the withdra...
Bristol & West International is to sell its structured products into the UK, despite the withdrawal of its onshore arm from the market.
Marc Meers, senior manager, product manufacturing and development, at Bristol & West, said: "We decided to pull out of the structured product market because our third-party distribution network was sold to Britannia. The expense of establishing a new distribution network would make these types of vehicles no longer profitable for us.
"We also expect the structured product market to be more volatile going forward. IFAs are beginning to recommend mutual funds over these vehicles because the stock market has been performing well. Investors are more inclined to use structured products in a bear rather than bull market because they can still receive all their money back if stocks go down."
Bristol & West International structured products will still be available to the UK and Channel Islands investors.
David Gilpin, head of marketing and product development at the group, said: "We will continue to offer our products to these markets as we do not distribute our products in the same way as the onshore division. We have a specialist sales team in Guernsey and the Isle of Man who will help sell the products back into the UK."
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