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SLI international bond sales near £600m

Standard Life International’s international bond sales have hit £593m, with sales for the first six months of 2008 totaling £270m. This compares with sales of £284m for the whole of 2007.

Standard Life business development manager for international business Ian Searle says: “Advisers are increasingly seeing the benefits of using offshore bonds as part of mainstream financial planning, using the product to help clients with university fees planning or plans to retire abroad. It is also an extremely effective planning tool for those working outside the UK.”

“Offshore bonds have the ability to invest in wider range of investment classes than onshore bonds and, given the recent volatility of equity markets, many customers are increasingly utilising the cash deposit facility available within the offshore bond.”

Standard Life head of estate planning Julie Hutchison notes that an increasing number of advisers are using offshore bonds as a trusts investment in estate planning for their clients. She says: “Families use trusts for longer term estate planning goals, to set aside funds for future generations.”

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