OLD MUTUAL INTERNATIONAL - INTERNATIONAL PORTFOLIO BOND REASONS WHY FOR TRUSTEE INVESTORS (Discretionary trusts)

Transcription

1 OLD MUTUAL INTERNATIONAL - INTERNATIONAL PORTFOLIO BOND REASONS WHY FOR TRUSTEE INVESTORS (Discretionary trusts) For financial advisers only This document suggests some of the reasons why to invest in this product that you may wish to incorporate within your recommendation letters for your UK resident clients. You will, of course, need to relate these to your clients own circumstances. You are responsible for ensuring your recommendations comply with the rules and guidance issued by your regulatory body. Old Mutual International Isle of Man Limited cannot accept any responsibility in this respect. The information provided in this document is not intended to offer advice. It is based on Old Mutual International's interpretation of the relevant law and HM Revenue and Customs practice as at March While we believe this interpretation to be correct, we cannot guarantee it. Tax relief and the tax treatment of investment funds may change. The value of any tax relief will depend in the investor s individual circumstances. The value of investments can fall as well as rise and investors may not get back what they put in. Old Mutual International cannot accept any responsibility for any action taken or refrained from being taken as a result of the information contained in this article. All references to Old Mutual International in this document mean Old Mutual International Isle of Man Limited. Overleaf you will find a contents page showing the topics that are included in this document; it also includes hyperlinks to each heading for ease of navigation.

2 Contents Page 3 What is the Old Mutual International - International Portfolio Bond? Life assurance basis Capital redemption basis 4 Reasons why an Old Mutual International - International Portfolio Bond Simplicity Asset transfer facility (minimum amount 50,000) Asset choice Investing in a Collective Investment Account* via an Old Mutual International - International Portfolio Bond Future aspirations and objectives Using an authorised custodian Appointing a fund adviser Investment flexibility Risk profile Currency Access Asset charges Valuations 8 Tax planning reasons for recommending an Old Mutual International - International Portfolio Bond Gross roll-up Tax reporting Policy segmentation Capital gains tax 5% tax deferred withdrawal allowance Chargeable events Taxation on chargeable event gains Assignment 10 Taxation when holding funds on Old Mutual Wealth s platform 10 Risk warnings Currency conversions Funds with stocks in specialist sectors Funds with investments in emerging markets Funds with holdings in a different currency Money market funds Property funds Past performance 11 About Old Mutual International 11 Regulatory stability 12 Policyholder protection 13 Our Awards 2 of 14

3 What is the Old Mutual International - International Portfolio Bond? The Old Mutual International - International Portfolio Bond is an offshore bond which allows you to hold a wide range of investments in one place. Offshore bonds can offer greater flexibility for tax planning by allowing you to choose when to take the proceeds, which may or may not be liable to tax. The Old Mutual International - International Portfolio Bond is automatically issued as a group of 12 policies, but to enhance the future flexibility of the bond you can select a different number of policies when applying to set it up. (See policy segmentation later on in this document for further information.) The following two paragraphs are dependent on which basis the bond is going to be set up on: Life assurance basis As your Old Mutual International - International Portfolio Bond is a whole of life contract it will have one or more lives assured, which means the policies will come to an end when the last person(s) whose life is covered by the policies dies. By having multiple lives assured, for example the beneficiaries and/or trustees of the trust, you can defer the chargeable event on death as it would occur when the last person who is a life assured dies. Old Mutual International has a flexible approach to the number of lives assured that can be included at the start of the contract. The Old Mutual International - International Portfolio Bond includes life assurance cover of 101% of the surrender value. This means that on the death of the last life assured, the policyholder (trustees) at the time will receive 101% of the surrender value provided the policies have not already been cashed in. They are then free to re-invest the trust fund or distribute it to the beneficiaries at their discretion. Capital redemption basis As your Old Mutual International - International Portfolio Bond is a capital redemption contract it has no life assurance cover; it has a guaranteed maturity value as opposed to a death benefit. So instead of ending on the death of a named person (the life assured), a capital redemption bond will continue for 99 years unless it is totally surrendered before the maturity date. If a policy is still in force after 99 years Old Mutual International will pay the greater of: a guaranteed maturity value of twice the premium paid less a percentage which is calculated based on the amount of withdrawals taken from the bond in relation to the bond value, or the surrender value on the maturity date This will be paid to the policyholder at that time. By having no lives assured on a capital redemption basis, the trustees are in complete control over when chargeable events occur as death does not impact the policy term. 3 of 14

4 Reasons why an Old Mutual International - International Portfolio Bond Simplicity The International Portfolio Bond is powered by Wealth Interactive, Old Mutual International s innovative online wealth management service. Facts and figures at your fingertips Wealth Interactive provides you with an at-a-glance view of your International Portfolio Bond, and a straightforward, clear and transparent way to access your information. You can sign in to your own secure online service account and review your policy, including your portfolio of assets, whenever you have access to the internet. You ll be able to check the latest available facts and figures about your investments and keep up to date with any changes made by me as your financial adviser. Wealth Interactive is supported by Old Mutual International s large, highly experienced customer service team, their investment administration department and their knowledgeable technical team. So, if you need any help with the system, just call Old Mutual International on +44 (0) Wealth Interactive will let you see everything you need to know about your bond, including: its current value how your assets have performed since you started a library of correspondence you ve received from us a history of the transactions you or your financial adviser have placed access to factsheets for the assets you hold. Wealth Interactive can help you feel more involved with your investment because you can see how it s performing and react quickly to any changes. When you discuss your policy with me, you ll already have all the latest facts at hand. Wealth Interactive makes your life easier because you can now update your personal details quickly and easily online, as well as approving key transactions electronically, reducing the amount of paperwork you need to sign and file. You can also view correspondence between you and Old Mutual International about your policy in your Wealth Interactive account. I, as your financial adviser, can even request your online approval of transactions such as buying and selling assets this will speed up the approval process and ensure that transactions happen faster. You can then sign in to review the transaction and submit or request changes if you wish. Old Mutual International also share important information with me, as your financial adviser, to help me provide you with the best possible service. Wealth Interactive gives me access to data, tools and insight I need to help manage your portfolio and maximise your wealth. It also provides support and services to help me plan your portfolio of assets and keep it on course to achieve your long-term goals. Altogether, Wealth Interactive will make investing a much more interesting and engaging process for you. Asset transfer facility (minimum amount 50,000 or other currency equivalent) You can transfer your existing trust funds or assets into your Old Mutual International - International Portfolio Bond in order to consolidate and hold them all within one wrapper. The paperwork is simple and kept to a minimum. Please note that any asset transfer is subject to Old Mutual International s approval. 4 of 14

5 Reasons why an Old Mutual International - International Portfolio Bond () Asset choice By investing in an Old Mutual International - International Portfolio Bond, you will have almost unlimited access to authorised collective investments around the world in most major asset classes and currencies. You can link your Old Mutual International - International Portfolio Bond to: more than 1,600 funds available on our platform* any collective investment funds, funds with UCITS status, SICAVs, FCPs or unit trusts agreed by us bank deposits**. This not only provides greater opportunity to create a portfolio tailored the appropriate risk profile and objectives, but also reduces the investment risk associated with this type of investment through the ability to diversify your portfolio of assets. Please note that all the underlying assets that you link to your International Portfolio Bond are owned by Old Mutual International. All the rights relating to these assets belong to Old Mutual International. However, the value of your Old Mutual International - International Portfolio Bond, which you own, and the amount you get back will be directly linked to the performance of the funds/assets you have chosen. * More information on Old Mutual International s Portfolio Bonds can be found in the client brochure Unlocking the secrets of intelligent investing and the Key features of your Old Mutual International - International Portfolio Bond document available on the Old Mutual International website ** You can find more details about the different types of investment in the Key Features of your Old Mutual International - International Portfolio Bond document. Investing in a Collective Investment Account* via an Old Mutual International - International Portfolio Bond We discussed the administrative efficiency and added flexibility of easy switching when holding a Collective Investment Account inside your Old Mutual International - International Portfolio Bond. The online switching facility on the Old Mutual Wealth platform (available via myself) provides you with a known cost when you want to change your fund choice on the platform as switching between funds are free of any Old Mutual International dealing charges when using this facility. Please note that Old Mutual International will apply to Old Mutual Wealth Limited to set up a separate account, ie a Collective Investment Account, for your chosen funds. Old Mutual International will own the Collective Investment Account. However, the value of your Old Mutual International - International Portfolio Bond, which you own, and the amount you get back will be directly linked to the performance of the funds/assets you have chosen to hold inside the Collective Investment Account. Please note that if you wish to view a breakdown of all the assets held within your Collective Investment Account you will need to log on to the platform. You can view the total amount held through your online service account on Wealth Interactive. * Provided by Old Mutual Wealth Limited. You can read more about this investment option in the Key Features of investing in a Collective Investment Account via an Old Mutual International - International Portfolio Bond document available on the Old Mutual International website Future aspirations and objectives The flexibility to switch between a wide range of assets is particularly important should the performance of the assets chosen not meet your expectations, or alternatively if your attitude to risk changes. Using an authorised custodian You already have a custodian arrangement in place and by investing in the Old Mutual International - International Portfolio Bond you can continue your existing arrangement within the International Portfolio Bond subject to Old Mutual International s approval. Alternatively you can choose to set up a new custodial arrangement, again subject to Old Mutual International s approval. 5 of 14

6 Reasons why an Old Mutual International - International Portfolio Bond () Appointing a fund adviser You already have a fund adviser who looks after your investment portfolio and by investing in the Old Mutual International - International Portfolio Bond you can continue your existing arrangement subject to Old Mutual International s approval. Alternatively you can choose to appoint a new fund adviser, again subject to Old Mutual International s approval. As an Old Mutual International - International Portfolio Bond policyholder, you can take advantage of Old Mutual International s experience, excellent customer service and specialist administration team. I can also call on Old Mutual International at any time for technical support, from tax information to administrative issues. Plus we can monitor and manage your International Portfolio Bond through Old Mutual International s innovative online service: Wealth Interactive. If you want, you can nominate an independent fund adviser to work alongside me. There are two types of fund adviser: An advisory fund adviser can guide you through the process of choosing assets and then manage your portfolio for you. However, all decisions will ultimately be made by you. You can also go one step further and allow your fund adviser to make decisions on your behalf in line with pre-agreed boundaries. This role is sometimes known as a discretionary manager. Note to financial adviser: When recommending the client to invest in a Collective Investment Account via an Old Mutual International - International Portfolio Bond, please consider wording about the taxation of funds held on the Old Mutual Wealth platform. See Taxation when holding funds on the platform later in this document. Investment flexibility You can request to make an additional investment whenever you want, subject to Old Mutual International s approval. The minimum additional premium is 2,500 (US$3,750, 3,750 or other currency equivalent). Risk profile When deciding which provider to invest with it is important to consider the investment choice. The flexibility to change your investment strategy or fund manager in the future is important should your investment objectives or risk profile change. Currency The Old Mutual International - International Portfolio Bond offers a choice of currencies in which to pay your premiums and denominate your policy currency. You can hold assets in many different currencies, with the added benefit that all your valuations will be summarised in your chosen policy currency. Note to financial adviser: Remember the appropriate risk warnings regarding exchange rate fluctuations. For examples, see the section on risk warnings later on in this document. 6 of 14

7 Reasons why an Old Mutual International - International Portfolio Bond () Access With the Old Mutual International - International Portfolio Bond you have easy access to your investment, although please see the Risk Warnings on pages 10 and 11 regarding property funds. One of the most attractive features of a bond is the withdrawal facility. You can set up regular withdrawals and ask for payments to be made on either a monthly, quarterly, half-yearly or yearly basis. Alternatively, you can make one-off withdrawals or cash in your policies requests at any time by writing to Old Mutual International at their Head Office or submit these requests online via Wealth Interactive through your secure service account. Note to financial adviser: Please also see information on 5% tax deferred withdrawal allowance on page 9. Asset charges With more traditional structures, if a particular asset is underperforming, changing investment strategy or fund manager may result in exit penalties, a possible tax liability as well as new initial charges on a new asset. An asset dealing charge of 15 (or currency equivalent) may apply each time you buy or sell an asset. Tax planning An Old Mutual International - International Portfolio Bond allows you to postpone paying tax by timing any withdrawals carefully. This is because, as the bond is a life assurance or capital redemption bond, it is considered a non income producing asset for UK tax purposes. As long as it s held by the original owner (the trust), the bond is not immediately liable for UK capital gains tax, so you have the freedom to buy and sell different investments as often as you want without creating any immediate personal tax liability. Tax benefits Old Mutual International is based in a tax-efficient environment and is not currently liable to income tax, capital gains tax or corporation tax on assets linked to policies they issue, so your investment will be able to grow virtually tax free. Some of the dividends earned by the assets linked to your bond may be liable for withholding tax in their country of origin and therefore only the net value of the dividend will apply to the value of your bond. However, once the dividends form part of the assets linked to your bond they can accumulate tax free. Changing the assets linked to your bond will also be tax free in the Isle of Man. The Old Mutual International - International Portfolio Bond offers flexibility in switching between fund managers and changing assets, even those of different currencies. An asset dealing charge of 15 (or other currency equivalent) may apply each time you buy or sell an asset. However, the cost of changing assets within the Old Mutual International - International Portfolio Bond when compared to holding assets directly is, generally, significantly cheaper. Note to financial adviser: Old Mutual International s dealing charge does not apply for funds held on the Old Mutual Wealth platform as described earlier in Investing in a Collective Investment Account* via an Old Mutual International - International Portfolio Bond. Valuations You will receive detailed quarterly valuation reports outlining your complete portfolio of investments. The valuation report will show any transactions that have taken place since the last quarterly statement, including any withdrawals and charges. 7 of 14

8 Tax planning reasons for recommending an Old Mutual International - International Portfolio Bond Gross roll-up The Old Mutual International - International Portfolio Bond is provided by Old Mutual International based on the Isle of Man. The beneficial tax environment of the Isle of Man means that any growth in the assets that you have chosen to link your Old Mutual International - International Portfolio Bond to will roll-up free of any income or capital gains tax. As a result, you will have the potential to benefit from enhanced capital growth over the medium to long term (meaning 5 to 10 years or longer) through gross roll-up. An exception to this is the element of withholding tax on dividends which may have been applied at source and which Old Mutual International cannot recover on your behalf. Any gains, dividends, rent or interest are taxed at 0% within the fund. Note to financial adviser: If recommending that the client should invest in a Collective Investment Account via an Old Mutual International - International Portfolio Bond, please consider wording about the taxation of funds held on the Old Mutual Wealth platform. See taxation when holding funds on the Old Mutual Wealth platform later in this document. Tax reporting The Old Mutual International - International Portfolio Bond is classed as a non-income producing investment, which means that information regarding the bond does not need to be included in a trustee tax return until a chargeable event occurs. You can change assets within the Old Mutual International - International Portfolio Bond without being subject to a capital gains tax or income tax liability and you will not have any tax reporting requirements unless you take withdrawals or surrender the bond, both of which will trigger a chargeable event. Policy segmentation The Old Mutual International - International Portfolio Bond consists of multiple policies within the bond to maximise the UK tax efficiency of your investment when you want to access the trust fund. It may also be beneficial should you wish to assign individual policies in the future when distributing to your beneficiaries. Following assignment, any chargeable event would be assessable on the beneficiary at their marginal rate. The default number of policies is 12 though you can choose more or less when you initially apply for the bond depending on your requirements, subject to the minimum value per individual policy of 400 (or currency equivalent). For example, if the investment amount is 40,000 the cluster size could be up to 100. This gives you flexibility, for example, when it comes to setting up assignments or when you want to take money out but have already used your 5% tax deferred allowance. Capital gains tax An offshore bond is not subject to capital gains tax, unless the policy has previously been assigned for money or money s worth. Changing assets within an offshore bond is not subject to the capital gains tax 30-day rule*, so will not trigger a taxable event. This is because Old Mutual International owns the underlying assets and are non-uk resident for UK capital gains tax purposes. However, all changes to assets should comply with individual fund manager s market timing and short-term trading policies or rules, which may prevent frequent or short-term switching. * This rule prevents a shareholder from making a gain or loss on shares they have sold and bought back almost immediately. This applies where you sell shares and then buy back shares of the same class in the same company within 30 days of the sale. 8 of 14

9 Tax planning reasons for recommending an Old Mutual International - International Portfolio Bond () 5% tax deferred withdrawal allowance You are able to withdraw up to (and including) 5% each policy year of the amount you have invested, without incurring an immediate UK income tax liability, for 20 years. If you do not use your 5% tax deferred withdrawal allowance in any policy year, you can carry forward any unused allowance to the following year. For example, if you don t use your 5% tax deferred withdrawal allowance for six policy years, this means you could withdraw 30% without an immediate liability to UK income tax. Chargeable events During the period your Old Mutual International - International Portfolio Bond is in force, there is no trustee taxation to pay. However, there are certain chargeable events that may trigger a taxable gain. A chargeable event happens when: you take withdrawals from your bond by partially cashing in the policies above your 5% tax deferred withdrawal allowance (5% of the premiums paid for each policy year); you fully cash in one or more policies in your bond; you fully cash in all the policies in your bond; the last life assured dies (life assurance basis only); the bond reaches its maturity date (capital redemption basis only); you assign one or more policies in your bond for consideration for money or money s worth. When a chargeable event happens this is assessable on the following people: Settlor if alive and UK resident If settlor has passed away or non-resident, the trustees if UK resident If both the above are not applicable, the beneficiaries if UK resident (to the extent they benefit) Taxation on chargeable event gains The Old Mutual International - International Portfolio Bond is taxed under the chargeable event legislation, which means any gain on a chargeable event is assessed to income tax, rather than capital gains tax. Assignment It is possible to assign one or more policies in your bond to a potential beneficiary. Provided this is not for consideration or money or money s worth, a chargeable event will not occur, so there is no tax liability at the time of the assignment. The beneficiary will become the legal owner of the policy/policies and if they cashed in the policies, they would be liable to tax at their highest marginal rate on any chargeable gain. Although there is no liability to income tax, you should consider any inheritance tax implications on assignment, for example exit charges. 9 of 14

10 Taxation when holding funds on the Old Mutual Wealth platform If you have recommended your client to invest in a Collective Investment Account via an Old Mutual International - International Portfolio Bond, please note the following: As I have explained to you, there is a key difference in terms of taxation of the funds when holding them via the Old Mutual Wealth platform through the Old Mutual International - International Portfolio Bond. The key difference is the taxation of the underlying funds that you can select on the platform. Through the Collective Investment Account you can access UK domiciled and some non-uk domiciled funds to help meet your investment objectives. However, it s important to note that Old Mutual International is not able to (where applicable) reclaim any tax paid from funds held on the platform. Therefore, in such instances, the returns could be less if you hold these funds on the platform instead of investing in external funds directly through an Old Mutual International - International Portfolio Bond. Risk warnings Risk warnings are an essential part of any financial promotion. The risk warnings below should be seen as example text that can be adapted to meet particular circumstances. Currency conversions If you choose a policy currency* other than that in which you make your investment, i.e. the premium you pay to Old Mutual International, then Old Mutual International will credit the premium to a transaction account in the currency in which you have paid your premium. You should be aware that Old Mutual International will notionally convert the premium amount into your chosen policy currency. This means Old Mutual International will not physically convert the premium amount; just apply the converted amount to your International Portfolio Bond. This currency conversion could expose you to exchange rate fluctuations. Any conversion made will be based on the closing market mid-rate ** provided to Old Mutual International by a thirdparty currency rate provider on the working day before Old Mutual International applies your premium amount to your International Portfolio Bond. The converted premium amount will be the amount which is shown in your policy schedules. If additional currency conversions are required as a result of transactions within your International Portfolio Bond (for example, when you buy assets in a currency other than your chosen policy currency or when Old Mutual International deduct International Portfolio Bond charges shown as a fixed amount in pound sterling***), you should be aware that delays may occur. Please refer to the Policy Terms and Conditions for further details on this and for any charges which may apply. * This is the currency that your valuations will be summarised in. It is also the currency in which the deduction of most Old Mutual International - International Portfolio Bond charges will be made. ** All currencies have a market rate. Any provider dealing with currencies will independently set different buy and sell rates; these include overheads and profit margins. The market mid-rate is derived from the mid-point between the buy and sell rates used in the global markets. *** Any charges shown as a fixed amount in pound sterling in your charges schedule (issued together with your policy schedule(s) and Policy Terms and Conditions) will, if your policy currency is not in pound sterling, be converted and deducted in your selected policy currency as stated above. Funds with stocks in specialist sectors Investments held by some specialist funds, including emerging markets, technology and smaller companies funds tend to be volatile and the fund prices could move sharply up or down at times. They can also be difficult to sell at times, which can make it difficult to sell or switch from these funds. Funds with investments in emerging markets Investments held in emerging markets are usually considered to carry a greater degree of risk relating to dealing, settlement, custody practices and volatility than investment in established markets. 10 of 14

11 Risk warnings () Funds with holdings in a different currency The fund holds investments in a different currency to the fund, so fund prices will rise and fall purely because of exchange rate fluctuations. Money market funds The fund invests in money-market assets, including deposits with banks and other financial institutions. The yield on the fund will fluctuate as interest rates change. There is a possibility of default, reducing capital values. Property funds The value of property is generally a matter of a valuer s opinion rather than fact. In addition, property investments may not be readily saleable, which could lead to constraints on your ability to sell or switch from the fund. Past performance Past performance is not a guide to the future. About Old Mutual International Old Mutual International, part of Old Mutual Wealth, provides offshore and cross-border investment solutions. As a leading provider of offshore investment products, Old Mutual International offers a comprehensive range of innovative and market-leading investment solutions to investors around the globe. When investing with Old Mutual International, you are choosing a large, reputable company that is passionate about innovation, choice and enabling their clients to take control of their finances. Above all, it is dedicated to helping clients achieve their wealth management goals whatever they may be. Old Mutual International has operated from the Isle of Man since It is owned by Old Mutual plc, established in South Africa in 1845 and with headquarters in London. As a FTSE 100 company, Old Mutual is one of the 100 largest companies listed on the London Stock Exchange. It manages more than billion* of clients' funds worldwide. * As at 31 December Source: Old Mutual Regulatory stability The Isle of Man is an established international finance centre with a stable and independent legal, political and regulatory framework. Life Assurance is an important business sector for the Isle of Man. All life assurance companies based on the Isle of Man are licensed by the Isle of Man Financial Services Authority, which controls this type of business and imposes detailed reporting requirements. The Isle of Man is also recognised as a leading offshore base. It has been voted the Best International Finance Centre or been highly commended at the Professional Adviser International Fund & Product Awards since of 14

12 Policyholder protection Policyholder protection schemes are regarded as a safety net for policyholders of a life assurance company and allow policyholders to claim for compensation in the unlikely event the life assurance company becomes insolvent. The rules governing schemes and specific rights for each policyholder vary from one jurisdiction to another and in some jurisdictions there is no scheme at all. On the Isle of Man there is a statutory protection scheme which covers Old Mutual International policyholders. This compensation scheme is a result of the Isle of Man Life Assurance (Compensation of Policyholders) Regulations 1991 which protects all policyholders whose policies were affected on or after 4 April Eligible policyholders in policies issued by Isle of Man authorised life assurance companies are protected no matter where in the world they reside. In the unlikely event that a life assurance company is unable to meet its liabilities, the policyholder will be protected by this compensation scheme. The compensation scheme offers policyholders up to 90% of the policy benefit. For the purposes of the scheme, this is calculated as the policy value less any contractual charges associated with the policy. No monetary limit applies to the calculation of the policy benefit. Please note that this protection only applies if Old Mutual International is unable to meet its liabilities. Old Mutual International only writes unit-linked business and therefore there is always a close link between the value of the company s assets and the liabilities to its policyholders. Assets linked to Old Mutual International policies are segregated from Old Mutual International s business assets in order to comply with the Isle of Man Insurance Act The fact that policyholder assets are segregated from the company s own means that, in the event of liquidation, the liquidator or administrator cannot access policyholder funds. The value of your Old Mutual International - International Portfolio Bond is linked to the value of bank deposits and investments generally managed by third parties such as banks and fund managers. In the event that the provider of an asset, including bank deposits, fails, compensation will depend on the scheme in place where that provider is registered. You should be aware that any compensation arrangements are likely to relate only to Old Mutual International s aggregate holdings across all affected policies rather than to individual investors. As a result you may not benefit from any scheme. Full details are available from Old Mutual International on request. As you are invested into funds/assets through an International Portfolio Bond you are unlikely to be eligible for any compensation schemes which may apply to individuals investing directly. If this is a concern, please discuss this with me so you are aware of the possible risks. 12 of 14

13 Our Awards Old Mutual International has won several awards, recognising the quality of their products, service and expertise. Their most recent awards* include: Professional Adviser - International Fund & Product Awards 2015 Best International Life Group - Winner Best International Portfolio Bond Winner Best International Savings Plan - Highly Commended 2014 Best International Adviser Portal - Winner Best International Life Group - Highly Commended Best International Protection Product - Highly Commended Best International Savings Plan - Highly Commended Best International Structured Product Provider - Highly Commended International Adviser - International Life Awards 2015 Best regular premium investment product (Europe) - Euopean Capital Account Best trust/estate planning product (Europe) - Discounted Gift Trust Best adviser support/customer service (Europe) Best trust/estate planning product (Middle East) - Discounted Gift Trust Best single premium investment product (Singapore) - Executive Investment Account Best trust/estate planning product (Hong Kong) - Wealth Management Plan 2014 Best Online Proposition (UK Offshore, Europe) - Winner Best New Product (Hong Kong) - Winner Best Single Premium Investment Product (Singapore, Europe) - Winner Best for Adviser Support/ Customer Service (Europe) - Winner Best Regular Premium Investment Product (Middle East) - Winner * Accolades for 2014 or earlier were awarded to Skandia International (Old Mutual International s former name). Old Mutual International Isle of Man Limited is registered in the Isle of Man under number 24916C. Registered and Head Office: King Edward Bay House, King Edward Road, Onchan, Isle of Man, IM99 1NU, British Isles. Phone: +44 (0) Fax: +44 (0) Licensed by the Isle of Man Financial Services Authority. All promotional material is approved by Old Mutual Wealth Limited. Old Mutual Wealth Limited is authorised and regulated by the Financial Conduct Authority. Financial Services register number The rules made under the Financial Services and Markets Act 2000 (as amended) for the protection of retail clients in the UK do not apply. Old Mutual International Isle of Man Limited is a member of the Association of International Life Offices. Old Mutual International is registered in the Isle of Man as a business name of Old Mutual International Isle of Man Limited PDF12447/INT /April of 14