An offshore bond launched by Axa Wealth International in September last year has been criticised by competitors, drawing claims it risks leaving clients open to a 15% deemed gain charge and could damage the wider offshore bond industry.
Kames Capital, part of the Aegon Group of companies, has entered the Spanish market for the first time with the launch of two of its fixed income funds.
Since the RDR, portfolio planning has become much more bespoke, and Mark Hayhoe from Aegon Ireland says offering an alternative approach to tax-efficient investing can really cut a dash.
Aegon reported full-year results for 2012 that showed underlying earnings rose 29% to 447m.
Aegon is to exit its life, health and pension joint venture with Unnim Banc and sell its 50% stake to Unnim for 353m.
Aegon expects that the consolidation of Spanish savings banks will lead to “exiting one or more of its joint ventures in Spain.”
Aegon Ireland has revised the pricing structure on its Wealth Management Portfolio offshore bond, removing the fund based product charge and reducing the fixed quarterly charge.
Kames Capital will launch into the Asia market and has opened its first office in the region.
Dutch life insurer Aegon has entered in to arbitration with Spanish retail bank, Caja de Ahorros del Mediterráneo (CAM), in order to exit a partnership with the bank after it failed to make the required business returns in a distribution agreement.
Aegon has launched three offshore bonds to target the ‘at retirement’ market.
Aegon Ireland has appointed Simon Skinner as its chief executive officer.
Paul McMahon, Aegon UK’s new group marketing director, will help launch the company’s new platform.
