Skandia International offers new funds for its Spanish investment bond
Skandia International, the offshore business of Old Mutual Wealth Management, has extended the investment choices available for its Spanish collective investment bond (CIB) by launching 36 new funds and providing access to five investment groups previously not available.
The new offering brings Skandia’s range of assets available via the Spanish CIB to 525 funds. As well as gaining access to extra funds, investors will be able to access products from five additional investment companies: J O Hambro, Julius Baer, Distinction, Brown Advisory and the Danish investment firm, Jyske Invest.
Skandia said the extended fund offering further diversifies investment opportunities available across Europe, emerging markets and other major asset classes. Additionally, investors can access new asset classes such as Swedish and Danish bonds, as well as Danish equities.
The Spanish CIB is a bespoke portfolio bond launched in July 2010 designed to be tax efficient for investors resident in Spain. It can be used for creating tailor made portfolios from a wide range of tax compliant funds. An additional feature which makes the product particularly appealing to expatriates is that it remains tax compliant even if the client chooses to return back to the UK, Skandia said in a statement.
The product is offered through Skandia Life Ireland Limited, the Dublin-based operation of Skandia International, which was launched in 2003 to provide European advisers with Skandia life assurance products.