Skandia International first to make Investec Autocall linked fund available within an offshore bond wrapper


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10/03

Skandia International first to make Investec Autocall linked fund available within an offshore bond wrapper

Skandia International, part of Old Mutual Wealth, is the first provider to structure an Investec Autocall as an internal fund, enabling it to be held within an offshore bond in the UK.  This innovative new fund launches today, and will help meet the growing demand for structured capital at risk products to be available through an offshore bond wrapper in the UK.

The fund, called the RS GBP Investec FTSE™ 100 Defensive Autocall Fund Issue 1, is exclusively available through Skandia International’s offshore portfolio bonds in the UK. The fund is designed to repay the initial investment and deliver a return of 7% a year provided the FTSE™ 100 is above a specified level (Autocall level) on a specified date (Autocall date).  

The diagram below helps to demonstrate how the product will work:

 

 

 

Alistair Campbell, head of investment marketing at Skandia, comments:

“We are focused on becoming a leading investment business, and this innovative investment solution demonstrates our commitment to delivering real solutions to advisers and their clients. Investec is one of the leading structured products providers in the market today and we are seeing high demand for this type of solution.”

 

Gary Dale, head of intermediary distribution - structured equity derivatives at Investec, comments:

"We are delighted to be working with Skandia International, a leading offshore investment provider, with this new innovative investment solution. Utilising an offshore bond wrapper together with the pre-defined pay-off profile of a structured investment offers advisers and investors yet more choice in the way they design their investment portfolios."

 

Skandia International is registered as a business name of Royal Skandia Life Assurance Limited

 

For more information contact

Sophie LentonOld Mutual Wealth02380 916 77007834 499 558

Notes to Editors:

Old Mutual Wealth

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

It has an adviser and customer offering spanning:

  • Financial advice delivered by the Intrinsic network in the UK and AAM Advisory in Singapore
  • Platform based wealth management and protection products delivered by Old Mutual Wealth in the UK & Italy* and Old Mutual International globally
  • Asset management solutions delivered by Old Mutual Global Investors
  • Discretionary investment management delivered by Quilter Cheviot.

Old Mutual Wealth oversees £119 billion in customer investments (as at 30 September 2016).

Old Mutual Wealth is part of Old Mutual plc a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million customers across the world and has a total of £342.7 billion assets under management (as at 30 June 2016).

*Old Mutual Wealth announced the sale of Old Mutual Wealth Italy to Ergo Italia on 9 August 2016. The transaction is pending completion.

This press release is for journalists only and should not be relied upon by financial advisers or customers. Investments may fall or rise in value and investors may not get back what they put in.