Friends Provident International (FPI) has launched a new version of its Reserve portfolio bond.

 

 

 

The new bond is available on both a whole of life and capital redemption basis, to individual and corporate customers (including trusts) resident outside of the United Arab Emirates, Hong Kong and Singapore.  New Reserve introduces two brand new charging structures - ‘annual policy charge’ and a ‘ten-year establishment charge’ - in addition to the existing Reserve charging options.

 

 

 

Philip Cernik, head of global expatriate propositions at FPI said: "The launch of the new Reserve bond is an important enhancement to our overall Reserve proposition for expatriate and corporate customers. We now offer a variety of charging structures to meet the requirements of a wide range of investors.”

 

 

 

New Reserve customers will also benefit from reduced, fixed administration charges. Customers choosing the annual policy charge option, and making an initial investment of 500,000 pounds (or currency equivalent) and above, can invest without incurring any fixed administration charges.

 

 

 

Cernik added, “New Reserve is now even more relevant to today’s investors and can be used in a number of different planning scenarios including retirement and estate planning. It can be a particularly effective and sophisticated tool with or without a suitable trust. Fully authorized versions of the new Reserve bond will be launched in the near future, in each of our core markets.”