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international premier portfolio technical guide

    • Any form of closed ended collective investment scheme other than a UK-approved investment trust

    • Cash that is directly held in a currency other than the bond currency, which is not held, for the purpose of dealing in collective investment schemes in that currency

    • An authorised unit trust that loses its authorisation or an approved investment trust that loses its approval

    • Internal linked funds of an insurance company.

  • Assets are reviewed according to guidelines designed for the benefit of investors. To ensure the tax efficiency of the bond, only collective investment schemes and cash deposits can be included in International Premier Portfolio. This is because of the UK Personal Portfolio Bonds (Tax) Regulations.

  • There is no restriction on the number of funds that can be invested in through the bond.

Non-discretionary managed

  • We’ll maintain a full list of all the allowable funds (IN85038) that we have already reviewed and made available. The list will include any discounts to initial charges and rebates on annual management charges.

  • We have agreed special terms with many leading fund managers. This means that we can offer better terms than can normally be expected when investing directly in these funds. Many funds can be accessed with no initial charge, including most of the top fund groups in the UK.

  • We have used our institutional buying power to effectively reduce the annual management charge of many investment managers’funds to a rate that is lower than normally charged to you. If there are non-discretionary managed holdings with any of these investment managers, we will credit a rebate to the cash account each calendar quarter on the valuation dates (the last Friday of March, June and

September and the 31 December) thus reducing the effect of the annual management charge.

  • The availability of the rebate credit is at the discretion of these investment managers so rebate terms may be changed or the rebate credit may be withdrawn by the investment managers, which will in turn affect the annual management charge.

Discretionary managed

  • If your bond is discretionary managed, the Discretionary Manager will ensure that the chosen funds are acceptable under the rules of the bond. You may want to choose a Discretionary Manager that we have already appointed from the list available on our website www.aviva.co.uk/international

Cash account

  • Within each bond, there is a cash account to hold any uninvested cash.

  • Charges and any withdrawals that you request will be taken from the cash account. We suggest that you keep a proportion of your investment in the cash account to cover charges and withdrawals.

  • If we sell an asset, the proceeds from the sale will be held in the cash account. If we purchase an asset, the settlement will be taken from the cash account.

  • We’ll pay interest that accumulates daily on positive cash balances in the cash account. This interest will be applied to the cash account on the date of your bond’s quarterly valuation.

  • The cash account will be held in the bond currency.

  • There is no limit on how much of your initial investment or extra investment must be placed in the cash account, although we suggest that a sufficient balance is set up. This will help avoid interest charges, as well as any dealing and custodian charges on any sales of holdings required to clear overdraft balances.


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