FundsNetwork has teamed up with Norwich Union to offer an onshore investment bond as part of the development of the supermarket platforms wrap service.
Under the agreement, FundsNetwork will offer a single-premium insurance investment bond provided by Norwich Union later this year. It will provide the opportunity to invest in the range of mutual funds from many of the fund management companies already available through FundsNetwork.
Fidelity managing director Richard Wastcoat says: “I am delighted that we have struck this agreement with Norwich Union. It marks a critical stage in the development of FundsNetwork and puts the supermarket at the heart of the savings industry.”
FundsNetwork also plans to offer a Sipp and offshore portfolio bond in due course. Norwich Union is the UKs largest insurer.