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Skandia International, part of Old Mutual Wealth, today announces the launch of a flexible offshore investment bond in Spain. The award winning European Capital Account (ECA) has been redesigned especially for the Spanish expat market to meet the growing demand for a flexible savings solution.

The ECA takes an innovative approach to saving for the medium to long term. Customers who plan to invest for at least five years can use a charge free withdrawal allowance of 10% each year, without triggering an early surrender charge.  This gives investors easy access to money with the maximum potential for their investment to perform. The payment options are equally as flexible; once an initial lump sum of just £10,000 (€15,000) is made, investors are able to make regular and ad hoc payments as and when required.

Through the ECA investors can access over 150 Spanish compliant international investment funds and defer when they pay tax on their savings. This can form an integral part of a client’s financial strategy, helping them save for retirement, education or any other financial goal.

Phil Oxenham, head of international proposition marketing at Skandia International comments:

“We see a great opportunity in the Spanish market for a flexible investment solution which meets the evolving needs of expats living in Spain. The launch of the ECA means investors can benefit from greater choice and flexibility together with wider investment opportunities.”

For more information contact

Amelie ShepherdOld Mutual Wealth02380 916 09107834 499 596

Notes to editors:

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £118.1 billion in customer investments (as at 30 September 2018).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two years:

• The Multi-asset business is now Quilter Investors

• Intrinsic to Quilter Financial Planning

• The private client advisers business is now Quilter Private Client Advisers

• The UK Platform to Quilter Wealth Solutions

• The International business to Quilter International

• The Heritage life assurance business to Quilter Life Assurance

• Quilter Cheviot will retain its name

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.