Scottish Life International has introduced the international protected investment management service (IPIMS).
IPIMS is an offshore bond that will operate as a portfolio management service and offers four tiers of investment. These include IPIMS capital protected funds, IPIMS exclusive portfolio funds offering specialist funds, IPIMS select fund managers providing funds offered by external fund managers and the IPIMS self select service, giving access to up to 30,000 collective investment schemes. The minimum investment into IPIMS is £50,000.
IPIMS is aimed at British expats and pension fund trustees. It is the offshore version of Scottish Life Internationals protected investment management service (PIMS), which was created in October 2000.
Like PIMS, IPIMS also offers a unique insurance element. If the client goes for the IPIMS insurance option this will insure the entire portfolio for at least 101 per cent of the initial amount in the event of the death of the investor. Every six months this percentage can be adjusted upward to reflect any rise in the market.
This insurance option should appeal to many investors who want this type of guarantee. The international portfolio bond from Royal & SunAlliance offers a slightly different guarantee of at least 101 per cent of the value of the portfolio. This can penalise the estate of the investor if they die during a stockmarket slump which can drive down the value of the portfolio.