Canada Life International has become the first provider to offer an offshore bond on the Cofunds platform.
The CLI Portfolio Account has been produced specifically to serve the needs of the UK IFA market, and will enable advisers to offer offshore bonds to clients from a transparent structure with which they are already comfortable.
A choice of charging structures is available, together with the ability to take fund level trail commission and offer discounts on the purchase of funds within the bond.
While the CLI product is the first offshore bond on Cofunds, the Legal & General International (Ireland) launch, planned by the end of 2007, is intended to be the core offering.
Commenting on the launch, Tony Parry, managing director of Canada Life International, said: “The launch of the CLI Portfolio Account represents the culmination of months of hard work between CLI and Cofunds. Making CLI products available via new distribution channels is key to CLI’s long-term growth strategy, and I believe that, in working with the UK’s leading investment platform, we are better equipped in this increasingly competitive market.”
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