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Canada Life bond linked to 40 funds

Canada Life is targeting IFAs with an investment bond offering a range of 40 funds.

The product marks Canada Life&#39s first foray into the onshore bond market, having previously specialised in the protection and annuity markets. It also shed its tied saleforce last week to become an IFA-only office.

The select investment bond is a unit-linked whole-of-life product allowing investment in a maximum of 10 funds at any one time.

It also benefits from a new manager of manager service following a dea with Dutch investment bank Insinger de Beaufort.

Investors can choose bet-ween three manager of manager funds run by IdB&#39s team. They are international managed, which invests 100 per cent in equities, balanced managed, which adopts a 80:20 equity to bond ratio, and cautious managed, with a 40:60 split.

Other funds available through the select bond include firms such as Threadneedle, Fidelity, JP Morgan Fleming, Merrill Lynch, Schroders, SVM Asset Management and Canada Life&#39s own products.

Minimum investment is £5,000 and there is no maximum. There is no bid-offer spread.

There is unlimited free fund switching, an income-withdrawal facility and a five-year loyalty bonus.

Initial commission options range between 0 per cent and 6 per cent, with trail of up to 0.5 per cent a year. Annual charge is 0.35 per cent.

Marketing manager Simon Little says: “Our select investment bond is an accessible and flexible onshore investment product offering first-class fund links, with the added advantage of the manager of manager investment solution.”


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