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The Prudential International Investment Portfolio offers your clients a wide range of investment choices, combined with international taxation benefits.
If your client invests in this product they should read our Key Information Document, relevant ‘Investment Option Document(s)’ or Fund Managers own Key Investor Information Document(s) as appropriate. Please note that if the fund manager is not Prudential, your client will need to source these documents from the fund manager directly. These include important information which may help them make up their mind.
The impact of taxation (and any tax reliefs) depends on your client’s individual circumstances.
Please remember that the value of your client’s investments can go down as well as up and they may not get back what they have paid in.
The Prudential International Investment Portfolio is a single premium unit-linked investment contract with open architecture available as either:
The portfolio allows access to a wide range of investment choices with the aim of increasing the value of money your clients invest. It offers a wider choice of funds than the Prudential International Investment Bond.
A single premium of at least £50,000 (or currency equivalent) is the minimum investment level for the bond to be taken out. The minimum top up premium is £5,000 (or currency equivalent).
For the Life Assured version, there is no set investment term of the Bond. Both versions are set up as a group of identical policies, normally 20, available up to 100. Your clients can choose to cash in each policy separately, helping them withdraw money in a tax efficient way. The plan comes with a small amount of life cover and will pay out a lump sum when the person, or people, covered dies.
For the Capital Redemption option, the Bond has a fixed term of 99 years, although it can be encashed at any time. If it is continued for the full term, it will pay a guaranteed minimum amount at maturity. This option can be particularly attractive for trusts, allowing the trustees to choose when to cash it in or instead keep it going through successive generations.
The Prudential International Investment Portfolio also allows you or your client to appoint a Discretionary Asset Manager (DAM) to manage all or part of the Bond. We have five DAM partners, selected for their experience in the adviser market.
This is where any cash balances are held in the Bond. The cash account is used to buy Assets for the Bond, receive cash income from Assets, meet bond charges, any regular or one-off withdrawals and adviser charges.
For more information on the Cash Account download the Key Features document (PDF).
The Prudential International Investment Portfolio has the advantage of being tax-efficient in a number of ways to minimise any tax liability and defer tax until the bond ends, such as when it's cashed in.
For further tax information and what this means for your clients, download the Key Features document (PDF).
The Prudential International Investment Portfolio can be written as the following trusts if your client requires Inheritance Tax Planning advantages.
* Absolute and Discretionary.
The owner of the bond must be a UK resident and at least 18 years old at entry.
Life Assured version
Capital Redemption option
Available for individuals, trustees and corporate investors.
The minimum withdrawal, of any type, is currently £500 (or currency equivalent).
If your clients decide to invest and take withdrawals, there is a choice of investment currencies to suit their individual circumstances.
Download the Fast Facts Document (PDF) for more information.
Your client can put money in and take it out in any of 11 currencies. Changes in the rates of exchange between currencies may cause the value of your client's investment or income to go down or up.
A full list of currency choices can be found in the Fast Facts Document (PDF).
There is a wide range of fund and asset choice available, which your client can manage on their chosen platform. These include:
* SICAVs are European Collective Investments similar to OEICs.
** UCITS is a generic term for funds that meet certain regulatory requirements and can be sold in any European Union country.
Your client can also invest in cash deposits, with a choice of rates and terms. These provide a low risk option if your client wants a fixed return or could act as a short-term haven if stock markets are volatile. If the need arises to sell investments that are designed for a fixed term (such as fixed term deposits) or that have redemption penalties, this can result in charges being applied by the external entity managing the investment. The application of these charges will adversely affect the value of the investment and could result in a loss being made.
Our Available Funds and Preferential Terms calculator outlines the funds available.
Your client can make up to 20 free deals in the first year, with no charge. Every year after that, they can make 10 free deals. Extra deals may incur a charge unless they involve our own funds.
For more information on fund switching, download our Fast Facts Document (PDF).
Prudential International’s Discretionary Asset Manager (DAM) facility is designed to give maximum flexibility for managing client’s portfolios.
We have five DAM partners who have been selected for their experience and commitment to the adviser market.
|Discretionary Asset Manager||Contact Details|
Tel: 0203 201 3363
|Brooks Macdonald Asset Management||
Tel: 020 7499 6424
|Tilney Investment Management||
Tel: 0121 227 6338
Tel: 020 7150 4005
|Investec Wealth & Investment||
Applicable product charges include three flexible charging structures and switch charges. For information on all charges, please download the Fast Facts Document (PDF).
For more information on the standard charges & costs deducted and where you can go to get further information please refer to the Product Charges.
More information on these three charging options can be found in the Fast Facts Document (PDF).
In the first year of the bond, your client gets 20 free deals. In every year after that, they will receive 10 free deals - each time they buy or sell an investment counts as one deal. We will charge your clients for extra deals, unless they involve our own funds.
If a DAM is appointed, they will make the investment choices and free deals will not apply to assets they manage.
For more details on these charges refer to our Key Features document (PDF).
The level and shape of Adviser Charging is agreed between the individual Adviser and the client.
Prudential International can facilitate the following types of Adviser Charging:
Ongoing and Ad hoc Charges are treated as withdrawals from the bond and will count against the 5% tax-deferred allowance.
For more information on Adviser Charges, see our Fast Facts Document (PDF).
© Prudential 2022
"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at Craigforth, Stirling FK9 4UE. Registered number SC212640. Authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company Limited. The Prudential Assurance Company Limited and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc which is a holding company registered in England and Wales with registered number 11444019 and registered office at 10 Fenchurch Avenue, London EC3M 5AG, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority. These companies are not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.