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Axa targets UK expats with first Dublin bond

Axa Winterthur is launching a Dublin-based international portfolio bond to cater for UK citizens resident abroad and non-UK domiciles.

The new bond is a single-premium whole of life investment vehicle designed for medium to long-term investment of five to 10 years or more.

The bond is similar in make-up to Axa’s Isle of Man-domiciled evolution bond but has been adapted to target UK expatriates who are now based in Europe and non-UK domiciles and takes into account the different tax regimes which apply.

Minimum investment is £15,000 or the currency equivalent and there is no maximum. If investing in external funds, there is a minimum of £50,000 or the currency equivalent.

The fund offers access to a range of investment choices, including Axa family funds, select funds or external funds and cash deposits that can be chosen according to risk profile.

The bond can be based in sterling, euro or US dollars and investments can be made in any freely tradeable currency. Fund choices can also vary in currency for greater diversification.

The product will be the first offering from Axa’s new international business which is soon to launch in Dublin.
A spokesman says: “Axa Winterthur announced its plans to expand its offshore business into Europe last summer. This launch is part of the project to look at different territories around the world and ensure the offshore capability that we have in the Isle of Man is best played out.”

AES International managing director Sam Instone says: “Axa have got a wide variety of charging structures which are very competitive in the market, as is the bond offering when you compare it to some of the other offerings out there.”

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