Product aims to widen appeal in UK
Island-based financial product provider Old Mutual International says it hopes to widen its UK customer base with the launch of a new offshore bond.
The Select Bond, pitched as a 'new breed' of bond, will allow investors to access the same fund range as Old Mutual Wealth's onshore products.
In the past, offshore bonds have been favoured by customers who move overseas and want 'portable' tax-efficient investments products.
Old Mutual International, whose head office is in King Edward Road in Onchan, is promoting the product to customers and advisers, highlighting the benefit of gross roll up on underlying finds.
The firm says the offshore bond's 'transparent charging model' and lower premiums are designed to appeal to a new audience.