Offshore portfolio bond launched by prudential international

Prudential International claim that purchasing power means preferentialterms have been negotiated with a figure of fund managers- ultimatelyproviding investors with competitive fund terms. The fund pick alsoextend to specializer types not available in the UK and thosedenominated in different currencies.

Richard Leeson, Head of UK Development for Prudential International,said: "This is a major merchandise development for Prudential Internationaland will place us in a lead position for open architectureinvestment. The Portfolio Account brings together for the first timefactory-gate pricing and an about unlimited range of collectiveinvestments from marketplace across the world and will provide analternative for investors who might have looked at fund supermarkets orwraps in the past."

The investing grows mostly free of tax as funds are not liable forincome or , only the levied ondividend income from some plus held in the funds. Tax deferralbenefits mean that investors do not pay income tax on their investmentprofit until the money is taken out of the . Nevertheless, 5 per cent ofthe master investment can still be withdrawn each year withoutinvestors paying tax instantly. If part of the investing is switchedfrom one fund to another there is no liability on anyprofit made on the electric switch. For tax tax return purposes the PortfolioAccount also simplifies matters as only the itself needs to bedetailed, not each of the funds held in it. For person andtrustees, the does not need to be detailed until a chargeableevent arises.

The Portfolio Account requires a £50,000 lower limit investment andprovides twenty free fund switches in the first year and ten insubsequent years. There is also a pick of 11 currencies in which toput money in and take it out.