Regulation  

Skandia sees rise in offshore bonds placed in trust

According to data from Skandia, this represents a huge rise in advisers placing client money in trust within its portfolio bonds; in 2006, this figure was just 8.2 per cent.

Phil Oxenham, head of proposition marketing for Skandia International, said: “Those investing significant sums in an offshore portfolio bond will be the type of client who is in greatest need of wealth planning, and using trusts can help mitigate tax exposure and protect their assets for their beneficiaries.”

In 2006, there were significant changes to the inheritance tax treatment of trusts, and by 2012, 43.2 per cent of Skandia’s portfolio bonds went into trust.

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