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Cofunds sets up onshore bond and plans pension wrapper

Cofunds is offering an onshore bond and is lining up a pers-onal pension wrapper which is set to go live at A-Day.

The portfolio bond, set up in conjunction with major shareholder Legal & General, will offer IFAs and their clients a choice of around 200 funds from 40 providers. The bond is a single-premium life insurance wrapper and advisers can get quotes online along with key features documents and marketing material.

Cofunds says the bond marks a key stage in the platforms’ evolution from a fund supermarket to a full wrap service. L&G bought a 28 per cent stake in the firm last year and Cofunds has more than 6bn in assets under administration.

Marketing and product development director Mark Jones says: “With our new approach, the whole of a cli-ent’s assets – regardless of their tax wrapper – can be seen on a single screen. Now an adviser can use their time on asset allocation to meet a client’s needs and select funds effic-iently within the main tax wrappers.”

DK Wild & Co managing director Michael Wild says: “What is important for us is that everything can be accessed from one point, with no time was- ted on pieces of paper and more time on managing clients.”


Widow of opportunity

The cult of the Scottish Widow seems to be growing. This week’s tabloid press announced that Texas singer Sharleen Spiteri’s “dowdy outfit” was straight out of a Widows’ ad while The Addams Family’s Morticia and talentless shock-rocker Marilyn Manson have also been linked to the provider’s key marketing tool. After Celebrity Big Brother’s Pete Burns […]

Newton appoionts Neiloy Ghosh to lead on Japan equities

Newton has appointed Neiloy Ghosh from SG Asset Management as investment leader of Japanese equities. Ghosh, who joins on February 6, will become the lead manager of Newton’s Japan fund. He replaces Miki Sugimoto who is leaving to join Veritas Asset Management. Ghosh currently runs SGAM’s 82m Japanese fund returning 46.5 per cent over the […]

VCTs get set for 600m boom

The VCT market is predicted to take 500m-600m this season as investors clamour to invest amid concerns the tax breaks will not be renewed. The Chancellor is expected to announce a decision on the extension of the 40 per cent income tax relief on VCTs in the Budget in March, with commentators differing over whether […]

Abbey fixes bond rate at 3.8%

Abbey has set up its eighth guaranteed income bond. The single-premium life insurance investment plan guarantees a fixed income and a full return of capital if the bond is held for its four-year term. Abbey is offering investors the choice of either monthly or quarterly income of 3.77 per cent a year or an annual […]

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In Focus — May 2015: private medical insurance market in Germany

Welcome to the latest edition of In Focus. In this issue, Jelf examines the private medical insurance market for employers with expatriate workforces in Germany. This includes the common challenges faced in sourcing appropriate coverage, along with a selection of available solutions. This will be of particular interest to HR/reward decision makers with employees based in Germany. It will assess the cultural norms, risks and backdrop that are relevant to organisations with expatriate staff in this location.


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