Old Mutual International has unveiled a retail bond for investors based in the Middle East and Africa, International Adviser can exclusively reveal.
The International Executive Portfolio has been rolled out in response to the introduction of the Isle of Man Conduct of Business Code.
It will look to take advantage of offshore tax benefits and offer a range of retail investment solutions; such as stocks, shares, bonds and collective investments.
Customers can also appoint a discretionary asset manager to make investment decisions and construct a portfolio.
Paul Evans, head of region, Middle East & Africa at OMI, said: “New industry rules such as the Isle of Man Conduct of Business Code make it essential that companies like ours keep up with the pace of change while making sure customers still have access to a range of different solutions to suit their needs.
“For this reason, we have created a separate retail bond which complements our existing bond offering for professional investors in the Middle East and Africa.”
Offshore tax benefits
It is available on Old Mutual International’s online wealth management service, Wealth Interactive, where clients can monitor the bond’s performance and carry out transactions using the platform.
Customers can also use the bond to plan for their retirement or to pass on their wealth to future generations by using a trust or nomination.
The bond is available for customers investing at least $75,000/£50,000/€75,000 or currency equivalent.
Evans added: “Our new product is perfect for retail clients who are looking for the chance to invest in a wide range of different asset classes over the medium- to long-term.
“The bond can be the solution to multiple financial planning needs and is helpful for those looking to take maximum advantage of offshore tax benefits.
“In an increasingly complex and diverse retirement landscape, this bond offers a solution for clients looking to plan for later life.
“Our International Executive Portfolio also helps clients with their estate planning so that they can pass on as much of their wealth as possible to their children and future generations.”
