Quilter International has expanded its offshore bond proposition in the UK by adding two new bonds; an International Wealth Bond, life version and an International Wealth bond, redemption version.
The new International Wealth Bonds, which are issued in the Isle of Man, complement Quilter International's existing Ireland-based European Wealth Bond range.
These new offshore bonds strengthen Quilter International's high net-worth proposition and offers more choice to clients and advisers over which jurisdiction they want to situate their wealth.
The opportunities for offshore bonds continue to grow in the UK and we are seeing rising demand for a wider choice of options."
The Wealth Bond uses a discretionary asset manager on a full discretionary basis, which means the bond can access an even wider asset choice than is normally permitted within a UK offshore bond, including direct equities and bonds.
This announcement follows a series of enhancements made to the Wealth Bond proposition. In 2019, Quilter International launched an Irish redemption version of the European Wealth Bond, enabling a choice between life and redemption.
Then in October this year, a number of enhancements were launched to provide greater flexibility over the appointment of discretionary asset managers and authorised custodians.
Peter Kenny(pictured), chief executive officer of Quilter International, commented: "The UK market continues to be a core growth market for our business. The opportunities for offshore bonds continue to grow in the UK and we are seeing rising demand for a wider choice of options.
"The introduction of these new products, in addition to the recent enhancements that have been made to our Wealth Bond proposition, will boost our high net worth offering. Having a compelling proposition from both Ireland and the Isle of Man broadens our range of offshore solutions, offers advisers and clients jurisdictional choice, and puts us in strong position moving forward."