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AVD to enter UK market in 2010

Capital protected and tax efficient investments provider AVD is to enter the UK market in 2010.

The Austrian-based group, which is part of the FinanzInvest Group, will launch a major distribution initiative in partnership with the likes of SimplyBiz, AJ Bell and Moore Stephens from January 2010.

AVD has operations in Austria, Germany and Switzerland and runs more than £500m through its institutional and retail clients.

The UK operation will have joint managing directors in Richard Cook and Richard Simmonds.

Simmonds says: “AVD has already been hugely successful in the broader European marketplace and with the current very low interest rate climate in the UK, it makes absolute sense to launch a UK-based operation.  Our objective is to provide both individuals and institutions with the opportunity of investing in a robust and competitively performing asset that can be purchased at a discount to its asset share value.

“The asset is essentially an investment into with-profit funds and bonuses that have already accumulated and are guaranteed by leading UK life offices.  We specialise in developing fixed-term growth and income portfolios based on this asset class, which can be used as an alternative to deposit based savings and are also eminently suitable for SIPP/SSAS and tax planning”.  

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