The product, called the International Investment Bond, will be accessible through OMI’s Wealth Interactive online platform.
Multiple-choice
Advisers will have access to a list of recommended funds, known as the ‘GlobalSelect’ range.
Alternatively, they will be able to choose products from a wider selection of asset management groups in the ‘SelfSelect’ range of funds.
Lastly, the offshore bond gives advisers the option to outsource their clients’ asset allocation decisions by reverting to the ‘Compass Portfolio’ range, which are risk-targeted, multi asset portfolios managed by Old Mutual Wealth’s multi asset team.
OMI said the product has a “simplified” charging structure which removes quarterly administration and dealing costs, enabling advisers and customers to “switch investments as they choose.”
Brendan Dolan, OMI’s sales director, said: “The international advice landscape is changing, and clients now demand greater access, flexibility, simplicity and improved investment outcomes.”
Range refresh
The news follows a spate of offshore bond launches by OMI in the past few weeks.
Earlier this month, the company announced the launch of the Wealth Portfolio, an offshore bond aimed at British expats in the Middle East and Africa which can help them return to the UK without incurring the “deemed gain” tax charge on their overseas investments.
Previously in June, OMI had announced the launch of the Select Bond, a product aimed at UK savers hit by pension allowances cuts.
The new solutions “complement OMI’s existing range and are aligned to the direction of regulatory change happening in the industry,” a spokesperson for the company told International Adviser.
“New features include lower premiums, a simpler charging structure, improved access to researched/quality investment funds and improved online portfolio functionality.”
