La Mondiale Europartner launches wealth offering in the UK
Luxembourg-based La Mondiale Europartner, the international division of French insurer AG2R La Mondiale, is to offer a UK wealth management service.
The company will develop a range of tax-efficient and internationally-portable investment portfolios aimed at high and ultra-high net worth investors, and compatible with the UK’s upcoming Retail Distribution Review (RDR) regulations.
Included in the proposition is a multi-asset guaranteed capital investment vehicle that has attracted some €36bn in Continental Europe. The products will be provided in partnership with wealth managers, private banks and other professional intermediaries.
The firm also intends to offer a Dedicated Fund option, an investment structure unique to Luxembourg that allows access to alternative and mainstream assets in a bespoke portfolio via a discretionary manager. Dedicated Funds are fully compliant with UK life assurance laws.
There will also be access to La Mondiale Europartner’s multi-asset Guaranteed Capital Funds, which provide weekly accrued growth and a further discretionary bonus at the year end. Once added, bonuses are guaranteed and there is no market value adjustment factor. Clients may access their funds at any point without penalty.
Contributions are accepted in £, € and US$.
Other products on offer include a cross-border life assurance policy which serves as a tax-efficient open architecture underlying investment platform. La Mondiale Europartner’s portfolios can be free of tax and are fully portable and tax-compliant across many EU countries. They also provide specific tax benefits to UK resident but not domiciled individuals.
The firm considers its Luxembourg base a key advantage. Luxembourg is a full EU member with a robust investor protection regime where all client assets are ring-fenced by the regulator.
Fabrice Sauvignon, CEO of La Mondiale Europartner said the investment freedom, bespoke service, tax-efficiency and cross-border portability of the portfolios offer a unique combination of attractions to wealth managers, private banks and other intermediaries with high net worth clients.
La Mondiale Europartner, founded in 1989, has experienced rapid growth in the past few years. It has more than €4bn under management, over €1bn of which was raised in 2011.
Parent company AG2R La Mondiale was founded in 1905 as La Mondiale. It employs more than 7,500 people in France and one in four French businesses is a member. It has more than 8 million policyholders and beneficiaries and more than €57bn under management.