Norwich Union is increasing allocation rates by 1 per cent for new customers investing in its Portfolio investment bond.
The new allocation rate for an investor aged 74 and under with a £50,000 premium is now 103 per cent.
Portfolio offers a choice of 31 internal funds and more than 50 external funds managed by 12 fund managers. Management charge is 1 per cent to 1.95 per cent depending on funds selected with administration charges of 1 per cent a year on funds up to £10,000 and 0.5 per cent for funds over that figure for the first five years
NU head of investment product development Neil Davies says: ” Investors will see more of their money invested from day one.”