Friends Provident International scores a Singaporean hat trick

The company has marked the opening of its office in Singapore with the launch of its first product - Global Portfolio, a portfolio personal bond – which is also the first, and only, product of its kind authorised for sale in Singapore.

Global Portfolio is a single premium insurance wrapper designed to allow clients to build their own portfolio from a wide range of different asset classes and currencies. This open architecture portfolio personal bond is available in two structures so that it will be suitable for the asset management needs of a wide range of investors: there is a standard structure suitable for most investors and a specialist structure suitable for accredited investors1 only. Both are fully approved by the Monetary Authority of Singapore (MAS) for sale in Singapore via authorised Financial Advisors.

Global Portfolio also offers a range of charging structures, currencies plus many more features designed to offer maximum flexibility and choice.

Key features of Global Portfolio are:

Assets – the standard version of Global Portfolio allows investors to choose from a wide-ranging menu of Singapore authorised and recognised collective investments. The accredited investor version allows investors to select from an even wider choice of international assets.

LStructure – Global Portfolio is available as a Whole of Life plan for one or more lives assured, up to a maximum of six.

Choice of management – Global Portfolio is available on a discretionary managed or non-discretionary managed basis.

Choice of charges - Each investor into Global Portfolio is given a personal charging structure created in line with the asset and charging structure choices made when the account is opened.

Minimum Premium – The minimum premium into Global Portfolio is USD 50,000.

Currency denomination - Premiums are payable in Singapore Dollars, US Dollars, Euro, Sterling, HK Dollars, Australian Dollars, Japanese Yen, Swedish Krona and Swiss Francs.

Paul Tunnicliffe, director of international operations at Friends Provident International, said: “It is not often that organisations get the opportunity to bring something completely new to a market, so I am genuinely excited about the prospects for Global Portfolio. Our plans to grow Friends Provident International are built on a strong commitment to the region and the opening of our Singapore office represents a new era in the development of our Asian business.”