According to Fidelity, the new bond is competitively priced, with a clear and simple charging structure plus full commission flexibility. The open-architecture wrapper was designed with transparency in mind, the company said.
Fidelity, which launched its FundsNetwork platform in 2002, said that platform mutual funds are typically sold at net asset value and there is no limit on switching and no fee applied when switching between funds. Advisers are also able to see a single view of client holdings on the platform through Oneview.
David Dalton-Brown, head of FundsNetwork, said: The international investment bond market is growing rapidly as advisers focus increasingly on the many benefits of investing internationally for their clients. But historically, hidden charges and product complexities have stood in the way of many investors being able to benefit fully.
Mr Dalton-Brown continued: The demand from advisers for a solution to investing simply and tax-efficiently offshore has driven the development of our international bond, which we believe is part of a new breed of modern, competitively and transparently priced wrappers.
Fidelity said that on top of the cost benefits, advisers can also access the usual underlying benefits of FundsNetwork via the new product wrapper, along with a selection of over 1,000 mutual funds from 55 providers, discretionary fund management and deposit accounts.
The new wrapper is also able to take on a wide range of eligible market funds and is integrated into the FundsNetwork platform’s online client management tools and services.
