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R&SA bond has 20 fund options

Royal & Sun Alliance has unveiled details of its nextgeneration investment bond, offering 20 fund options to IFAs and their clients.

The Lifestyle bond updates the company&#39s existing inv estment bond range with a single, fully flexible product with access to with-profits, unit-linked and income distribution funds.

The product, available from January 29, allows up to 12 penalty-free fund switches a year. It also offers flexible income opt ions such as the ability to reinvest with-profits bon uses in the client&#39s chosen unit linked fund. With drawals of up to 7.5 per cent a year can be taken on a monthly, quarterly, termly, half-yearly or yearly basis without incurring any penalty.

The unit-linked and inc ome distribution funds have an annual charge of 1.25 per cent, dropping to 1 per cent from the sixth year onwards. The with-profits fund charges are determined when the bonus rates are set.

R&SA says the design of the product comes in res ponse to IFAs&#39 desire to switch their clients&#39 funds more easily between with-profits and unitlinked funds.

IFA personal market leader Mark Edwards says: “The popularity of with-profits bonds has soared in recent years. Other types of investment bonds will play an increasing role in cli ents&#39 investment portfolios and the freedom to choose is a key factor in the design of the Lifestyle bond.”

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