Leon Bart ensures that you have a well-diversified portfolio that includes offshore investments, giving you access to various growth opportunities across regions, sectors and economies.
Specifically designed for the South African resident, the Investment Portfolio+ allows you to consolidate and manage your offshore investments within a single, convenient, tax-efficient structure and aims to provide the potential for growth of the assets over the long term.
The product is a single-premium capital redemption contract. It is structured so that it doesn’t have lives assured; therefore, it will not come to an end on your death. Instead, the Investment Portfolio+ has a 99-year fixed term where a maturity will be paid and your investment will continue to the end of the term (the maturity date) unless you fully cash it in before the maturity date. The Investment Portfolio+ is issued as a number of contracts (minimum 100) that collectively form the Plan.
The Investment Portfolio+ offers two levels of investment choice subject to minimum premium criteria:
- The first level provides access to a range of internal life funds denominated in sterling, US dollars and euros. These funds have been specifically selected for the South African investor and managed by carefully selected offshore investments.
- The second level offers a significantly increased range of assets including collective investments schemes and shares listed on recognised stock exchanges (these are accessed through the “Authorised Custodian Facility”).
In both cases, you can build your own portfolio to suit your financial goals and attitude to risk. We are currently waiving switching charges and dealing fees although there may be transactional fees if you utilise the Authorised Custodian Facility.
The Investment Portfolio+ offers the convenience of removing the complexities and concerns of tax administration as this is performed by Old Mutual Isle of Man, which is a Branch of Old Mutual Life Assurance Company (South Africa) Limited (“OMLACSA”) within the policy, with the exception of personal tax administration.
Please download the Benefits of Investment Portfolio+ brochure (pdf document) for full details of the options available to investors.
Old Mutual Isle of Man has agreed on the legal terms with certain custodians based on investor demand and the fact that these custodians meet certain requirements. The inclusion of any particular custodian is in no way any indication of the suitability of the custodian or financial strength of a custodian and it is your responsibility to ensure you review and monitor the custodian you have requested we appoint.
Old Mutual Isle of Man may, from time to time, review the custodian panel and could add or remove custodians. The custodian will fulfil certain dealing services and there is a cost associated with each of these services. Generally, these functions include, but are not limited to:
- Hosting the dealing desk which will buy and sell assets
- Safe custody of assets
- Reporting and valuing assets.
When selecting a custodian, investors, with their financial advisers’ assistance, should engage with them prior to signing up to the Investment Portfolio+. This will ensure that the particular custodian can provide the level of service required by the investor.
Below are details of the authorised custodians available to Investment Portfolio+ clients.
- AngloRand Capital (PTY) Limited
- Ashcourt Rowan Asset Management
- Banque Syz
- BNP Paribas Securities
- Brooks Macdonald International
- Canaccord Financial Inc
- Capital International Group (CIG)
- Credit Suisse AG
- Credo Capital plc
- Discretionary or Advisory Mandate
- Execution Only Mandate
- Credo Capital plc Appendixes
- Direct Market Axis (DMA)
- Goldman Sachs
- Hargreave Hale Limited
- Insinger de Beaufort
- Interactive Brokers
- Investec Bank (Zurich)
- Investec Global Leaders (South Africa)
- Investec International rate card EUR
- Investec International rate card GBP
- Investec International rate card USD
- Investec Wealth & Investment Ltd (London)
- Investec XO
- Julius Bär
- Lombard Odier
- Maitland Investment Services Ltd
- Nedbank Private Wealth
- Old Mutual Wealth Private Client Securities
- Peregrine Nominees Propriety Limited
- Platform Securities
- PSG Konsult Financial Planning (Pty) Ltd [Where Online Securities Limited (trading as PSG online) Provides Execution and Custody services]
- Quilter Cheviot
- Ramsey Crookall
- Sanlam Private Wealth
- SAXO SA
- Standard Bank (including Mellville Douglas)
- UBS AG