Called Oracle, the bond has a minimum investment of £20,000 and what the Isle of Man-domiciled life company described as a “competitive” charging structure.
This includes 7.5% establishment 1.2% annual administration fees, collected quarterly, both of which can be reduced by commission sacrifice, said Royal London 360°.
The product is available in seven currencies (see facts box for product details) and offers direct – rather than mirror – fund investments in a guided architecture structure. Royal London 360° said the fund range offered a “broad choice of investment styles, asset classes, risk profiles, currency denominations and geographical sectors.”
The option to appoint an investment manager is also available on the product.
At launch 180 funds are available from 35 fund managers, covering 25 investment sectors.
Natalie Hall, head of marketing for Royal London 360°, commented: “Oracle will meet a gap in the market for a lower premium portfolio bond, and will make this type of product more accessible to a wider range of investor with medium to long-term needs, as well as differing attitudes to risk.”
Product facts:
• Currencies: GBP, USD, EUR, CHF, AUD, HKD, JPY
• Withdrawals available on a regular or one-off basis
• Additional top-ups can be made at any time
• Annual loyalty bonus on all premiums after their sixth anniversary
• Can be structured with up to 100 sub-policies to improve tax efficiency
• Can be established on a single life or joint life, last death basis, with a maximum of two individual applicants (individuals, companies or trustees) and up to six lives assured.
www.royallondon360.com/oracle
