Merchant Investors offshore bond launched

Innovative pensions and investment provider Merchant Investors has launched an offshore bond in ‘partnership' with Royal London 360°, an established offshore provider based in the Isle of Man.

The MI Offshore Bond is an investment-linked whole of life assurance policy allowing up to six lives assured. Clients can choose to invest in an internal fund range, including distributor influenced funds if set up, and a ‘Customised Selection' which allows investment in UK authorised unit trusts and investment trusts, OEICs and Sterling cash deposits.

Clients can appoint themselves as investment manager or they can appoint one of a panel of Discretionary Investment Managers.

A full range of trusts is available for inheritance tax planning purposes, as well as a specimen Isle of Man probate trust.

As with all Merchant Investors' products, the MI Offshore Bond offers flexible commission options including Funded Commission and all charges are inclusive of VAT.

The minimum investment in the MI Offshore Bond is £50,000 and the annual administration charge is 0.4% p.a. (deducted monthly subject to a minimum charge of £40).

Herman Sandrock, head of sales and marketing at Merchant Investors said "We are pleased to offer advisers access to this open architecture offshore bond which completes our ‘insurance' based product range, and takes us one step closer to our goal of becoming the provider of choice within the IFA community. The bond gives clients the scope to select and control the investments in their portfolio, allowing them to follow their chosen investment strategy in a tax-efficient way."

The MI Offshore Bond will be promoted through an email campaign to all IFAs and through Merchant Investors' team of Regional Sales Managers.