Special offer on Portfolio bond

Article date: 26 May 2005

Norwich Union is launching a special offer onits Portfolio Investment Bond. It is increasing allocation rates by1% across all ages, premium sizes and funds. Allocation ratesdetermine the percentage of a single premium invested at the outsetof the investment. The special offer was launched on 23 May.

The new allocation rate for an investor aged 55with a £50,000 premium is 103%. This means that a customer matchingthis profile with a £50,000 premium would have £51,500 invested inhis policy. (Example assumes step down charging structure. See noteto editors).

The special offer may be withdrawn or varied atNorwich Union's discretion at any time. Exit penalties in the firstthree years will also be increased by 1% during the period theoffer applies.

Neil Davies, head of investments at NorwichUnion, said: "Following our recent fund announcements to add 32funds to Portfolio, this is further good news for investors andmeans they will now see more of their money invested from day one.Portfolio is popular with IFAs and customers and it now offersaccess to more than 100 funds from some of the UK’s leadinginvestment managers."


Press office contacts: 
DavidGwyer 01904 452828 Out of hours 07800 699508
Louise Soulsby 01904 452617 Out of hours 07800 699526

Notes to editors:

About Portfolio

  • Portfolio offers a flexible way to invest for growth or income.Its minimum investment is £5,000 and investors can choose to puttheir money in a selection of more than 100 cash, bond,property, distribution, equity and with-profit funds, which arerun by Norwich Union and other fund managers.
  • Portfolio has no initial charge. Two charging structures areavailable: the Level and Step-Down Options. With the Step downstructure, charges reduce after five years. The alternative isthe Level option where charges remain constant throughout thepolicy’s life.
  • Norwich Union is the UK's largest insurer. It is the UK'slargest provider of life, pensions and investment products andone of the leading IFA providers. IFAs provide around 75% of thecompany's long-term savings business in the UK.
  • Norwich Union has strategic alliances with building societiesand other leading UK brand names including Tesco PersonalFinance and The Royal Bank of Scotland Group. NorwichUnion’s news releases and a selection of images areavailable from Aviva's internet press centre at www.aviva.com/media.

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