What are your core products? a) Evolution: a pooled fund bond with full open architecture and flex...
What are your core products?
a) Evolution: a pooled fund bond with full open architecture and flexibility.
b) Estate planning bond: discounted gift scheme designed to reduce UK inheritance tax liability.
c) AXA Isle of Man Administration Limited: a trust company offering a professional trustee service.
d) Discretionary management service: allows investment managers to take control of dealing and custody.
e) International with-profits bond: stand-alone bond with five and 10-year capital guarantees.
In which countries do you have representative offices?
AXA Isle of Man has its only office in Douglas on the Isle of Man. AXA is a global company with offices all over the world.
Into which jurisdictions can you promote your products/services?
AXA IoM has decided to only promote its services through IFAs who are based in the UK and regulated by the FSA, or the Channel Islands or Isle of Man and regulated by the relevant FSC.
For jurisdictions that you can't market to, under what circumstances can you still sell products?
We will accept business from other territories, provided that the IFA is authorised to sell there and there are no local restrictions preventing us from accepting the business.
What are your total assets under management and roughly how are they split between your various types of product and service?
AXA Isle of Man currently manages funds under management in excess of AXA Isle of Man currently manages funds under management in excess of £2.1bn for more than 17,000 customers (as at 30 June 2004). Approximately one third is Estate Planning Bond, one third is with-profits and one third is Evolution or similar products now closed to new business.
How are they split geographically?
98% of business is from the British Isles, with the remainder being spread quite widely.
Has your parent company given any legally-binding promises to protect investors of their international subsidiary in the case of problems?
There is no legally binding undertaking.
Has your parent company given any non-legally binding assurances?
Yes. Our shareholder has previously provided letters to our regulator confirming that further capital would be forthcoming should it be required. The regulator did not request such a letter this year as the company is of sufficient strength not to require such a letter.
Contact details: Visit www.axa-iom.com or call +44 (0) 845 300 4175
Will remain until completion of OM's managed separation
Dispute over structure of combined group
Financial Guidance and Claims Bill
Favorable tax treatment
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