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SLI portfolio bond hits sales of £593m

Sales of Standard Life International’s portfolio international bond have reached £593m, with sales for the first six months of this year totalling £270m.

Total sales for 2007 were £284m following the product’s launch in March.

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. He says: “Offshore bonds have the ability to invest in a 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 says its positive international bond sales have also been supported by estate planning considerations. A loan plan, discounted gift plan and gift plan, each with a choice of three types of underlying trust, are all available for use with the bond.

Head of estate planning Julie Hutchison says: “Families use trusts for longer-term estate planning goals to set aside funds for future generations. Given this longer investment timeframe, which is common with trusts, we have increasingly seen advisers use offshore bonds as a trust investment.”

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