The investment account, a whole of life assurance policy will enable investors to access global stock markets through a range of locally approved investment funds.
Last year, SI launched the executive investment account for accredited investors who have an annual income of more than £125,000 or personal net assets of more than £0.8m or foreign currency equivalent.
This only caters for one section of the market so the group has expanded into the non-accredited market to enable advisers to provide the offering to a broader range of clients.
If the investor’s status changes through an increase in net worth or income, from non-accredited to accredited, as defined by Monetary Authority of Singapore the account may be amended to enable access to collective funds in addition to those approved by MAS. When investors reach accredited status, they will be able to access any collective investment.
Royal Skandia principal officer for Singapore David Macdonald says: “We are confident this Singapore version of our internationally popular investment solution will be an exciting option for investors wanting to construct an investment portfolio, without restricting the fund selection to one fund management company or being restricted to a particular asset class or geographical region.”