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Offshore fund makes up Abbey wrap deal

Abbey for Intermediaries has finalised the range of products available on its wrap proposition with an offshore bond.

The wrap offshore bond is based on single transparent pricing and open architecture. It has no initial charge and no annual charge. The single charge forms part of the overall portfolio value at wrap level. The open architecture structure allows the wrap to hold investments from any investment provider.

The Abbey wrap allows access to 30 fund managers and over 600 funds and offers reduced fund charges and fund manager rebates.

The offshore bond accommodates UK-authorised unit trusts, UK investment trusts, Oeics, non-UK collective investment schemes and cash deposits.

Abbey director Ambrose McGinn says: “We already have hundreds of IFAs signed up for Abbey Wrap and we are in discussions with many more IFAs who have been waiting for us to complete the offering with the offshore bond before joining.

“Those IFAs which are sitting on the sidelines while watching others adapt, adopt and grow are going to be left behind.”

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