Prudential international launches new portfolio account

Prudential International's purchasing power means preferential terms have been negotiated with a figure of fund managers providing investors with competitive fund terms.  The fund pick also extend to specializer types not available in the UK and those denominated in different currencies. 

Richard Leeson, Head of UK Development for Prudential International, said: "This is a major merchandise development for Prudential International and will place us in a lead position for open architecture investment.   The Portfolio Account brings together for the first time factory-gate pricing and an about unlimited range of collective investments from marketplace across the world and will provide an option for investors who might have looked at fund supermarkets or wraps in the past."

The investing grows mostly free of tax as funds are not liable for income or , only the levied on dividend income from some plus held in the funds.  Tax recess benefits mean that investors do not pay income tax on their investing profit until the money is taken out of the .  nevertheless, 5 per cent of the master investment can still be withdrawn each year without investors paying tax instantly.  If part of the investing is switched from one fund to another there is no liability on any net income made on the electric switch.  For tax tax return purposes the Portfolio Account also simplifies matters as only the itself needs to be detailed, not each of the funds held in it.  For person and trustees, the does not need to be detailed until a chargeable event arises. 

The Portfolio Account requires a £50,000 minimum investment and provides twenty free fund switches in the first year and ten in subsequent years.  There is also a choice of 11 currencies in which to put money in and take it out.