Canada Life is launching an onshore bond in October including links to New Star, Threadneedle and Fi...
Canada Life is launching an onshore bond in October including links to New Star, Threadneedle and Fidelity funds.
The Select Investment Bond will also contain products from JP Morgan Fleming, Invesco Perpetual, Merrill Lynch, Schroders and Scottish Value Management.
In addition, Canada Life has established an exclusive link to Dutch multi-manager group Insinger de Beaufort's Manager of Managers service, which will be accessible via the bond. Insinger is timing the UK launch of its service to coincide with the Canada Life launch.
The bond will have a minimum investment of £5,000 and no bid/offer spread. Intermediaries will be offered a choice of commission, from zero to 7% plus trail of up to 0.5% per year. The annual management charge will be 0.35%.
The bond's Manager of Managers Investment Solution will give investors access to three Canada Life funds linking to an Oeic being set up by Insinger. These are the Canada Life IdB International Managed, Canada Life IdB Balanced Managed and Canada Life IdB Cautious Managed funds.
Simon Little, marketing director of wealth management at Canada Life, said the group is keen to raise its UK onshore profile and move into multi-managers. It is also looking to put manager of manager links into its offshore bond offerings and sees these as offering what Little called 'a transparent alternative to with-profits.'