Spectrum Bond. Choice never looked so good

Transcription

1 Choice never looked so good

2 Why choose Aviva? Around the world, Aviva plc, the parent company of Aviva Group Ireland plc, provides around 32 million customers with life insurance, savings and investment products.* Aviva Group Ireland plc is Ireland s leading composite insurer for life, pensions, general and health insurance products.* Our aim is to provide an efficient and professional service through a range of channels such as Financial Brokers, financial institution partners and our website We combine strong life insurance, general insurance and asset management businesses under one powerful brand. We are committed to serving our customers well in order to build a stronger, sustainable business and which makes a positive contribution to society. *Source: Aviva plc, March 2014.

3 Contents Introducing 2 At a glance 3 Understanding investments 4 Investing your money 5 Understanding different asset classes 6 The importance of diversification 7 The risks associated with different funds 8 - the details 10 Tax information 14 is right for me - What s next? 15

4 Introducing Helping you achieve your financial goals Whatever your future financial plans are, Aviva can help you get there with our investment bond. As one of Ireland s premier financial services companies, you will be dealing with an organisation with an outstanding investment pedigree. offers you a convenient and flexible way of investing in funds from a number of different asset classes, for example property, equities, cash and fixed interest. You choose what suits you best according to the levels of risk and return you are looking for. Your investment is managed by expert fund managers, including, Aviva Investors, AIB Investment Managers, State Street Global Advisors, Merrion Investment Managers and BlackRock. So, whether you're aiming to buy a holiday home in the sun, support your children through university, investing to beat inflation or just be able to take things a little easier when you reach a certain age, could provide the answers you're looking for. Why choose? Greater growth potential: By investing your money into growth funds over the longer-term your money has the potential for stronger growth than putting it in a deposit account. Unparalled fund choice: offers you access to over 30 funds that offer diversification across geographies, asset classes and across the risk-return spectrum. Expert fund management: You have access to funds from Aviva Investors, a global investment management company with almost 274 billion in assets under management, and a number of external fund partners carefully selected for their investment expertise. Flexibility: is flexible allowing you to take a regular income or partial encashments. You also have six free fund switches each year. Regular updates: We will send you a statement every year to let you know how your investment is doing. You can also, at any time, call us and request a valuation of your investment. Aviva Investors December WARNING: The value of your investment may go down as well as up. WARNING: If you invest in this product you may lose some or all of the money you invest. WARNING: The income you get from this investment may go down as well as up. WARNING: These funds may be affected by changes in currency exchange rates. WARNING: Withdrawals and switches from funds investing directly or indirectly in property may be deferred for up to 6 months. WARNING: Withdrawals and switches from all other funds may be deferred for up to 3 months. Page 2

5 At a glance What is? is a unit linked product that allows you to invest a lump sum into a wide range of different funds. It is intended as a medium to long-term investment, offering the potential to benefit from growth in the stock, bond and property markets. You can decide when to encash your bond. There is no fixed end date. However, is designed for medium to long-term investment and early encashment charges do apply in the first five years. (See page 13). You can take out a in your own name; jointly in your and your spouse s name or under trust, where you can specify exactly who you would like to receive the benefit on your death. As this is a life assurance product, in the event of death while your policy is still inforce, the amount payable to the policy owner will be 101% of the value of units on notification of death of the life assured. In the case of a joint life assured policy, the payment will be made on notification of the second of the two lifes to die. Is right for you? Yes from Aviva may suit you if you: No from Aviva may not suit you if you: Have a lump sum to invest for at least 5 years. Are happy with the choice of funds into which you can invest your lump sum and are happy to take risk with the aim of generating returns. Are happy with the charges on this product. Have over 10,000 to invest or 20,000 if you require a regular income. Are 18 or over and will be 85 next birthday or younger. Want to invest for less than 5 years Are not happy with the choice of funds into which you can invest your lump sum and are not happy to take risk with the aim of generating returns. Are not happy with the charges on this product. Have less than 10,000 to invest. Are under 18 or over 85 next birthday What do I do next? Read the rest of this brochure to find out more about the product features, fund choice on offer and the charges on the product. Then speak to your Financial Broker who will be in a position to answer your questions and give you an indication to which fund or combination of funds may be best suited to you. Page 3

6 Understanding investments When you invest in you have access to over 30 funds that provide both geographic and asset class diversification. You can choose to invest in funds from one fund sector or multiple fund sectors, we would recommend you speak to your Financial Broker before you make your fund choice. Page 4

7 Investing your money At Aviva we recognise that customers have different financial goals and attitudes to risk while also bearing in mind that these needs constantly change. Aviva offers a solution to all our customers no matter what their investment goals. We have a wide and varied selection of individual funds and fund strategies which means that you can tailor your investment to meet your individual needs. A wide and varied fund choice With help from your Financial Broker, you can create a diversified range of investments, spreading your money in a way that suits your specific needs. You can choose to invest in funds that concentrate on specific sectors, geographical regions or asset classes. Alternatively, you could invest Risk Targeted Multi Asset funds or in traditional managed funds, both of which consist of a broad spread of the asset classes, offering you exposure to each area but without all the associated risks of putting all your eggs in one basket or asset class. With Aviva, you get access to three diversified Risk Targeted Multi Asset funds. Aviva also has the largest number of managed funds available from any provider in Ireland and not just Aviva s own managed funds. For full details, please read Your Investment Options and Mulit Asset Solutions from Aviva brochure and speak with your Financial Broker. Funds from the top names in investment As well as choosing from different asset classes, you can access even greater variety by choosing different investment managers and styles. At Aviva, not only do we offer you funds from the Aviva Group s own investment managers, Aviva Investors but we ve also teamed up with some of the best known names in investment management to offer you a large number of additional funds. These include funds from companies like: BlackRock, State Street Global Advisors and Merrion Investment Managers. Access to this variety of asset classes, funds and investment managers means that you are given every opportunity to have all the investment angles covered. Page 5

8 Understanding different asset classes What are asset classes? Although Aviva has many different investment, savings and pension products available, there are four main areas in which you can invest. These areas are called asset classes. Each asset class has its own rewards and risks. Understanding more about the different characteristics of each asset class will help you work out where to invest your money. We have also included a section on mixed asset and managed funds - these funds invest across all different asset classes. Your Financial Broker will be able to tell you more and provide you with advice that is tailored to your individual needs. Description Cash Funds Bond Funds Commercial Property Funds Equity Funds Mixed asset Cash funds invest solely in cash or short-term deposit instruments and the objective of these funds are to achieve a return in excess of general deposit rates. These funds are not recommended for long-term investors as the unit price of the funds are not guaranteed and the product charges may be higher than the actual returns achieved by the funds. Governments and companies borrow money by selling securities known as bonds. In return for investor s cash, the government or company promises to pay a fixed rate of interest over a specific period say 2%p.a. over 10 years. At the end of the period, the investor is repaid the cash they originally paid, cancelling that particular part of the government/company debt. Commercial property funds pool investor's money together to buy a range of commercial properties. The investment return from property comes from capital growth and rental income. Equities are one of the main asset classes. Quite simply, an equity is a share in the ownership of a company. Equity funds pool investors money to buy a range of shares in various companies from around the world. Equity funds offer the greatest potential for both gains and losses as share prices, which are usually linked to the perceived value of a company, fluctuate daily with demand. This means that the value of your investment may go up or down, often quickly and often by significant amounts. That s why equities are considered long-term investments. Over the long-term shares have historically demonstrated the strongest capital growth and the best protection against inflation, outperforming property, cash and bonds, However, the performance of equities is not guaranteed. Risk Targeted Multi Asset Funds and managed funds are mixed asset funds that invest across a range of different asset classes, such as equities, bonds, property, commodities (for example physical commodities such as gold and oil) and cash. The fund manager will vary the funds exposure to these asset classes based on their views of how attractive each of individual assets classes are at a given time. These funds are generally less risky than investing in pure equity funds. Page 6 WARNING: Past performance is not a reliable guide to future performance.

9 The importance of diversification Quite simply, diversification means not putting all of your eggs in the one basket! It is the art of blending a number of different asset classes together with the aim of growing your money and smoothing out any market events so that the positive performance of some asset classes may neutralise the negative performance of others. Diversification solutions from Aviva There are various options available to investors that want to create diversified investments. The simple option is to choose a fully diversified fund that manages the asset mix for you. Another option is to build your own investment portfolio from the range of different funds available. Risk Targeted Multi Asset Solutions the simple option Our range of three diversified Risk Targeted Multi Asset Funds provides you with a one-stop-shop for your investment. They have a global blend of asset classes including equities, bonds, property, cash and alternative investments (such as commodities), providing them with the benefits of diversification. We realise that customers have different needs so we have created 3 funds, which make up Risk Targeted Multi Asset Solutions: Cautious Multi Asset Fund Strategic Multi Asset Fund Dynamic Multi Asset Fund The funds aim to deliver steadier returns than a fund investing in a single asset class such as equities. The funds are managed by Aviva Investors specialist Multi Asset fund managers who decide which asset classes to invest in and when to adjust the blend of asset classes, based on what s happening in the markets. What you need to do is talk to your Financial Broker to decide what level of risk you are comfortable with and if appropriate, select the fund that best represents that decision. Your investment portfolio should be made up of assets that complement each other, so that when one asset class is going down, another is likely to go up. Building your own portfolio At Aviva, we pride ourselves on offering you Ireland s widest choice of fund partners and investment funds. We believe that diversification, asset allocation and risk management are core to successful investing. By providing access to a wide range of funds, you and your Financial Broker have the tools to build tailored investment portfolios that match your needs. Find what type of investor you are If you are unsure as to what type of investor you are, why not try Aviva s online Risk Profiler and then talk to your Financial Broker for more information. Aviva s Risk Profiler can be accessed at Page 7

10 The risks associated with different funds All forms of investment involve some degree of risk. To help you make the most appropriate choice, we have given all our funds a risk and reward rating with a description of each rating. Risk 1 - Low Risk 2 - Low-Medium Risk 3 - Medium Risk 4 - Medium-High Risk 5 - High Risk Reward For low risk investors These funds aim to provide returns similar to those available from deposits or savings accounts. However, there is a risk that the value of the investment could fall, particularly if the unit price of the fund is not guaranteed or if the product charges are higher than the actual returns achieved by the funds. Risk-Reward Profile low 1 low - medium 2 medium 3 medium - high 4 high 5 For low-medium risk investors There is a low risk of negative returns over the medium-term, but there is the potential for higher returns than leaving money on deposit. These funds typically invest in bonds or provide an element of capital protection. Risk-Reward Profile low 1 low - medium 2 medium 3 medium - high 4 high 5 For medium risk investors The capital value and returns are both likely to fluctuate regularly. Funds in this category have the potential for better long-term returns than in low or low-medium risk funds. However, the returns are not guaranteed and investors may not get back the full amount invested. Risk-Reward Profile low 1 low - medium 2 medium 3 medium - high 4 high 5 For medium-high risk investors The fluctuations in capital value could be greater than with other types of funds. The returns are not guaranteed and investors may not get back the full amount invested. A high exposure to the stockmarket or a concentration on a particular asset class enhances the potential returns - and the accompanying risk of loss. Risk-Reward Profile low 1 low - medium 2 medium 3 medium - high 4 high 5 Page 8

11 For high risk investors There is a high degree of risk to capital - and, as a result, the potential for significant gains. These funds are only suitable for investors who are comfortable with a significant degree of volatility - or who are looking to add a higher risk fund to a diversified portfolio. The returns are not guaranteed and investors may not get back the full amount invested. Risk-Reward Profile low 1 low - medium 2 medium 3 medium - high 4 high 5 Please note: Please read the Multi Asset Solutions brochure for the Multi Asset Fund's Risk Reward Ratings. While diversification and understanding your attitude to risk and reward are very important investment considerations there are other things you should also keep in mind. Don t ignore Inflation Inflation is simply a measure of the cost of living in a particular region. It is important to achieve a rate of growth on your investment over time, which is higher or at least matches the rate of inflation otherwise it can seriously erode the purchasing power of your investments. Take a long-term view When investing you should be looking at leaving your money invested for the long-term i.e. five years or more. This will give your investment every opportunity to have all the investment angles covered. Time rather than timing is often best when investing. Get advice from an expert Financial Brokers can provide many levels of assistance: Help you identify your financial needs and set short and long-term investment goals. Assist you in building a portfolio of investments that meets your goals, objectives and risk tolerance. Set realistic expectations for your portfolio by explaining the risks and rewards of each investment. Monitor your portfolio and help you evaluate its performance. Regularly review and adjust your portfolio to reflect changes in your financial needs and economic conditions. What funds are right for me? You have your own financial goals, your own views on risk and your own return expectations. We ve designed our fund range to meet the full spectrum of investment needs. What this means for you is that by selecting, you have the ideal tool kit to build an investment portfolio that meets your long-term investment goals and matches your attitude to risk and return. Choosing the right mix of funds for you depends mainly on: The amount of risk you are willing to take. The return you expect for the level of risk taken. Your investment time horizon. Your preferred fund sector and geographic exposure. Speak to your Financial Broker and also please read Your Investment Options brochure for a full list and description of all our funds. Page 9

12 the details What is it? is a unit linked investment which allows you to invest a lump sum with a recommended investment period of at least 5 years. Who can have one? Anyone between the age of 18 and 85 next birthday can invest in a. The investment policy can be held in single or joint names. How much can I invest? You can open a investment for as little as 10,000 or 20,000 if you require a regular income. This is a maximum limit of 250,000 for investment into the property funds. Life assurance premium levy In accordance with the Stamp Duties Consolidation Act 1999 (as amended) a levy is payable on life assurance premiums (currently 1%). Aviva will pay this levy out of the money received from you and the balance will be invested in your. What happens to my investment? To ensure that all investors are treated equally and fairly each fund is divided into a number of identical units. Your investment will be used to buy units in your chosen fund (or funds) - and the value of each unit will move up and down in line with the market value of the fund s investment. How many funds can I invest in? The maximum number of funds you can invest in is 10. Can I change my fund selection? You can switch your investment between available funds at any time. The first six switches in any policy year are free. Subsequent switches have an administration fee of 30 per switch. Page 10

13 Can I take withdrawals from my investment? You can arrange to take a regular income from your investment when you take out the bond or at a future date or you can take partial encashments from the bond when you chose. However, some rules apply and these are detailed below. Regular withdrawals: You can take an income monthly, quarterly, half yearly or yearly and it can be paid into a bank or building society account. The minimum amount that can be withdrawn is 750 p.a. or per month. The maximum amount that can be withdrawn without early encashment penalties in any policy year is 6% p.a. of the original investment amount. If chosen, withdrawals can start from one month after your policy starts. If you wish to utilise the regular income facility, the initial single premium invested must be at least 20,000. Partial encashment: You can withdraw money from the bond whenever you require, simply by instructing us in writing. The minimum amount that can be withdrawn is 600 and there must be at least 1,000 remaining in your policy after withdrawals are made. We would recommend that the combined value of any regular income and partial encashments should remain below 6% p.a. in any policy year as we do not apply early encashment charges for withdrawals below this level. Any withdrawals made above 6% p.a. in the first five years of the policy will be subject to early encashment penalties (see page 13). Remember, making withdrawals will reduce the value of your investment. Any income you receive will be taxed based on any profit made by that particular amount. Please see the Tax Information section on page 14. What happens to my investment if I die? In the event of death while your policy is still inforce, the amount payable to the policy owner will be 101% of the value of units on notification of death of the life assured. In the case of a joint life assured policy, the payment will be made on notification of the second of the two lives assured to die. Page 11

14 What charges do I pay? Bid/offer spread Unlike some other investment products, the from Aviva has no bid/offer spread. This means that there is only one unit price on the funds. Allocations rates This is the percentage of your initial lump sum that is actually invested and will depend on the individual commission options chosen by you and your Financial Broker. There may also be deductions made from your fund over time in respect of these commission options. You should talk to your Financial Broker for more details on this. Annual fund charge* The annual fund charge varies according to the choice of funds. The majority of funds managed by Aviva Investors have a 1% annual charge. The exceptions are: Fund Annual Fund Charge* Aviva Irl Protected Growth Fund 1.65% pa Aviva Irl European Commercial Property Fund 1.65% pa Aviva Irl UK Property Fund (Series 2) 1.25% pa Aviva Irl Irish Property Fund (Series 2) 1.25% pa Aviva Irl Prescient Multimanager Fund 1.25% pa plus third party fees Aviva Irl Prescient Managed Fund 1.10% pa Aviva Irl Euro Financials Fund (Series 2) 1.25% pa Aviva Irl BlackRock European Absolute Return Strategies Fund 1.65%** Aviva Irl BlackRock World Gold Fund 1.65% Aviva Irl BlackRock World Mining Fund 1.65% Aviva Irl BlackRock World Energy Fund 1.65% Aviva Irl BlackRock New Energy Fund 1.65% Page 12 New funds with different fund management charges may be added from time to time. * This charge is based on the value of the funds your policy is invested in. The Annual Fund Charge is made up of: (1) a fund management charge which is deducted daily from the unit price of the fund(s) and (2) a unit charge which is taken monthly by deduction of units from the value of your fund(s). If you are invested in more than one fund, this charge will be taken proportionately across the range of funds in which the policy is invested. The Annual Fund Charge applying to your fund(s) will be shown on your policy schedule. Third Party Fees: The Prescient Multimanager Fund invests in an underlying fund that benefits from the expertise of a number of third party investment managers. Fees are paid to these investment managers by the underlying fund. The underlying fund generally avoids initial investment charges and receives substantial reductions in investment management fees with all rebates generally being credited to the fund. The net management fee payable to the fund through the third party funds chosen is currently expected to be no more than 0.60%p.a. but may change over time due to the funds chosen and the asset allocation policy. ** A performance fee may be payable for investing in the Aviva Irl BlackRock European Absolute Return Strategies Fund. See Investing in Absolute Return Funds brochure for further details.

15 What charges do I pay? (continued) Switching Charge You can switch your investment between available funds at any time. The first six switches in any policy year are free. Subsequent switches have an administration fee of \30 per switch. Early encashment charges There is an early encashment charge if you partially (see below) or fully withdraw your money during the first five years. If you withdraw 6% or more of the original amount invested within the first five years these charges will apply. Year of encashment Encashment in year 1, 2 or 3 Encashment in year 4 Encashment in year 5 Encashment in year 6 and over % charge 5% of fund value 3% of fund value 1% of fund value No charge Notification of changes to charges Aviva Life & Pensions UK Limited reserves the right to increase the fund charges and fees in circumstances in which it is deemed by the company necessary to do so. Should any increase in the fund charge occur, you will be given one month s notice of such an increase. The fund charge applies to the value of the investments and is deducted daily from the fund. The costs of buying, selling and maintaining the investments are met by the fund itself. Aviva Life & Pensions UK Limited may from time to time close or merge funds or offer the opportunity to invest in new funds. These new funds may have fund charges different to those shown elsewhere in this brochure. Unit price adjustment There may be circumstances where the number and/or amount of investor withdrawals from a fund(s) leads to a need to sell a proportion of that fund(s) s underlying assets. In such circumstances, Aviva Life & Pensions UK Limited reserves the right to adjust the unit price of the fund, to reflect the costs involved in buying or selling the necessary assets. As a result, investors withdrawing money would bear the costs of realising all or part of their investment. Encashment and fund switch deferrals In exceptional circumstances, Aviva Life & Pensions UK Limited reserves the right, in the interest of all policyholders, to defer encashment or switching for six months out of our property funds and three months from all other funds. Page 13

16 Tax information The current tax position In accordance with the Taxes Consolidation Act, 1997 (as amended), a tax liability levied on any profit that the policy has achieved may arise as and when: a withdrawal is made from the policy (subject to the terms of your policy) you cash-in the policy the value of the policy is paid out on death (subject to the terms of your policy) the policy, at any time during its lifetime, is assigned* or transferred to another party, the policy is assigned into a trust after the inception date or the trust attaching to the policy is revoked, OR the expiration of 8, 16, 24 or any other multiple of 8 years that has occurred since your policy commenced. All tax deductions will be made automatically from the policy, at the prevailing rate for life assurance policies, currently 41% for individuals and 25% for companies. If you are a company and wish to avail of the corporate exit rate, please make sure you supply documentary evidence of your Company Tax Reference Number. This evidence must be confirmation of your Company Tax Reference Number on your company headed notepaper. If we do not receive this confirmation, tax will be levied at the individual rate. *Other than in certain cases, such as when the assignment is to provide security for a borrowing - or the assignment is between spouses. Revenue reporting requirements Under the Return of Payments (Insurance Undertakings) Regulations 2011, Aviva Life and Pensions UK Limited are legally obliged to make an annual return to the Revenue detailing all policy payments made to you during each year of your policy. This means that each year we, like all other financial institutions, will have to issue details to the Revenue on a yearly basis of any withdrawals, encashments, maturities etc. taken from your investment/savings policy(s) with us during any year while the policy remains in force. Under the Foreign Account Tax Compliance Act (FATCA) we are obliged to collect certain information about each policyholders residency for tax purposes, and in certain circumstances we may be required to share this information with the Irish Revenue. Your tax residence is generally the country you live in for more than half the year. Special circumstances (such as studying abroad, working overseas, or extended travel) may cause you to be resident elsewhere or resident in more than one country at the same time. The country/countries in which you are liable to pay income tax is/are likely to be your country/countries of tax residence. Page 14

17 is right for me, what s next? To get started, you should: Talk to your Financial Broker to choose the product options that you want. Decide with your Financial Broker what fund options are most appropriate to meet your investment goals while satisfying your attitude to risk and return. Fill out the application and give it to your Financial Broker with a cheque for the amount you wish to invest. Once Aviva Life & Pensions UK Limited has received your application and it has been accepted, we will issue you with: Your policy document, and A disclosure statement. The policy document, along with your application, forms your legal contract with Aviva Life & Pensions UK Limited. Ensure the policy meets your needs You will have a cancellation period of 30 days from the date on which your investment document is issued to change your mind. Should you wish to cancel the arrangement, simply return the documents and a signed notice of cancellation to our branch: The Customer Services Manager, Aviva Life & Pensions Ireland, One Park Place, Hatch Street. Dublin 2. Please note that Aviva Life & Pensions UK Limited will return the amount you invested, however, we will deduct from the amount returned any fall in the value of the investment up to the time of cancellation. Ongoing support We will send you a statement each year. This provides details on the value of your policy. You can also request a valuation of your policy at any time. Fund Centre on On our new fund centre on you can keep up-to-date on your funds performance. Here you can: Download monthly fund factsheets. View daily performance updates. Chart the performance of your funds. View unit price changes on a daily basis. Page 15

18 Key contacts If you have any questions about your you should contact your Financial Broker or our customer service team at our branch: In writing By phone By Customer Service Department, Aviva Life & Pensions Ireland, One Park Place, Hatch Street, Dublin 2. A commitment to quality service Aviva is committed to the provision of the highest possible standards of customer service. However, if you are ever dissatisfied with any aspect of our service, do please let us know. We take all complaints very seriously and aim to rectify any shortcomings as speedily as possible. If you wish to complain about any aspect of the service you have received, please contact Aviva directly. If your complaint is not dealt with to your satisfaction, you may refer your complaint to: Financial Services Ombudsman s Bureau Address: 3rd Floor, Lincoln House, Lincoln Place, Dublin 2 Lo-call: Fax: (01) enquiries@financialombudsman.ie Website: Full details of the remit of the Financial Services Ombudsman s Bureau can be obtained directly from their office. To enable Aviva to assess the quality and consistency of its customer service, phone calls to and from our office may be recorded from time to time. Financial Services Compensation Scheme The Financial Services Compensation Scheme covers your plan. If Aviva becomes insolvent and we can t meet our obligations under your plan, the scheme may cover you for 90% of the total amount of your claim. If you need more information go to or call Under Aviva Life & Pensions UK Limited s agreement with BlackRock the Aviva Irl BlackRock unit linked fund described herein is not available for distribution to, or investment by, US residents or citizens. They may not be directly or indirectly offered or sold in the USA or any of its territories or possessions or areas subject to its jurisdiction or to or for the benefit of a US Person. Page 16

19 WARNING: The value of your investment may go down as well as up. WARNING: If you invest in this product you may lose some or all of the money you invest. WARNING: Past performance is not a reliable guide to future performance. WARNING: The income you get from this investment may go down as well as up. WARNING: These funds may be affected by changes in currency exchange rates. WARNING: Withdrawals and switches from funds investing directly or indirectly in property may be deferred for up to 6 months. WARNING: Withdrawals and switches from all other funds may be deferred for up to 3 months.

20 Aviva Life & Pensions UK Limited, trading as Aviva Life & Pensions Ireland, is authorised by the Prudential Regulation Authority in the UK and is regulated by the Central Bank of Ireland for conduct of business rules. Aviva Life & Pensions UK Limited, trading as Aviva Life & Pensions Ireland, is also regulated in the UK: by the Prudential Regulation Authority for prudential rules and, to a limited extent, by the Financial Conduct Authority for applicable UK conduct rules. Registered Branch Office in Ireland (No ) at One Park Place, Hatch Street, Dublin 2. Tel (01) Web Registered in England ( ) at 2 Rougier Street, York, YO90 1UU. Telephone calls may be recorded for quality assurance purposes