New international bond from FundsNetwork

Fidelity FundsNetwork, the UK’s leading fund platform, is extending its range of tax-efficient wrappers with the introduction of an International Portfolio (offshore) Bond with scheduled launch confirmed for April.

The International Bond complements the FundsNetwork Investment Bond and SIPP wrappers, which have attracted contributions approaching $1 billion since their launch in December 2005. Advisers will be able to invest client money in more than 1,000 mutual funds from 55 providers through the new wrapper, taking advantage of the tax efficiency offered by investing via an offshore bond.

FundsNetwork’s International Bond will offer a transparent charging structure. Access to any of the 1,000 mutual funds on the platform is available at no initial charge. There is no switching fee applied when switching between funds within the Bond, and it is integrated into the platform’s online client management tools and services. Full commission flexibility offers advisers a wide range of remuneration structures. David Dalton-Brown, Head of FundsNetwork said; “Advisers asked us for a tax advantageous vehicle that incorporated all the funds and services they already enjoy from FundsNetwork – so we’ve built it. The new International Bond will offer all this and more.

“Extending the range of product wrappers for the platform has been key to opening new markets for FundsNetwork. With nearly $1bn flows into our newer life & pension wrappers in little over 12 months, the appetite for holding mutual funds in tax advantaged wrappers on our platform is evident.”

Advisers already familiar with the FundsNetwork platform and its range of tools and services, including the award winning Portfolio Planning tool, will see the International Bond as another way of managing client assets alongside existing wrappers.

David Dalton-Brown, Head of FundsNetwork added: “Having onshore, offshore and pension wrappers along with our new leading edge Trust proposition we are now providing advisers with both product and tax wrappers facilitating a full service proposition from FNW.”

The FundsNetwork International Bond will be provided by Standard Life International Limited. The FundsNetwork Investment Bond and SIPP are provided by Standard Life Assurance Limited.