YOU RE IN GOOD COMPANY WITH FRIENDS

Transcription

1 YOU RE IN GOOD COMPANY WITH FRIENDS

2 CONTENTS A welcome from the Director of Friends Provident International 1 Our parent company Friends Provident 3 Friends Provident International Guernsey 5 Friends Provident International Isle of Man 7 Introduction to ISIS our Investment Managers 9 More investment choice 11 Our wide product range 13 Our award-winning track record 15 Our service commitment and how to contact us 17

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4 YOU RE IN GOOD COMPANY WITH FRIENDS WELCOME TO FRIENDS PROVIDENT INTERNATIONAL I would like to welcome you to Friends Provident International. This brochure will help you to discover more about our Company and what we can offer you as part of your financial planning. You will find a wide range of information about our heritage, investment expertise, competitive product range and the benefits these can bring you. Friends Provident has been in the financial services industry for more than 170 years and was one of the first companies to provide life assurance and related products to private individuals. Friends Provident has now become one of the most progressive and successful investment and insurance groups in the UK. Friends Provident s successful flotation on the UK stockmarket as a public limited company has marked a new era and has given us even greater financial stability. Our wealth of experience has provided us with a solid platform on which to build our international business, and has proved invaluable in shaping the way we operate. We offer a wide range of award-winning savings, investment and protection products, available through both Guernsey and the Isle of Man. In addition to this our investment managers, ISIS Asset Management plc (ISIS), are a leading global investment house, with 118 years of successful fund management experience. ISIS manage not only a full range of offshore funds for the Friends Provident Group, but also have an external client base that includes a large number of major institutional clients in the UK and around the world. Whatever your financial goals, Friends Provident International offers you access to award-winning products, extensive investment expertise and excellent customer service. On behalf of Friends Provident International I would like to welcome you to our Company. We look forward to your future with us and to helping you achieve your financial goals. Adrian Nurse, Director of Operations, Friends Provident International 1

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6 YOU F EEL STRONGER WHEN YOU RE WITH FRIENDS A LEADING FINANCIAL SERVICES COMPANY Friends Provident is a professional and fast growing company, with more than US$92 billion funds under management, over 4000 staff and in excess of three million policies and accounts worldwide. As one of the UK s leading financial services companies we pioneered socially responsible investment in 1984 and since then have continuously held the largest share of the UK socially responsible investment market. Today we are one of the largest providers of socially responsible investments in Europe. A FINANCIALLY STRONG COMPANY The launch of Friends Provident plc on the UK stockmarket in July 2001 raised 1.6 billion (US$2.4 billion) of new capital, significantly raising the capital base of Friends Provident and making it a listed company on the FTSE 100. A STRONG POSITION IN EUROPE Friends Provident is a shareholder in Eureko Holdings BV and a member of the pan-european Eureko Alliance of leading insurance companies which operates in 16 countries. Friends Provident therefore benefits from the synergies of the Alliance with our Partner companies. Friends Provident International, Salisbury, UK. 3

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8 WITH FRIENDS YOU RE IN CAPABLE HANDS OUR INTERNATIONAL EXPERIENCE Our many years of international experience have enabled us to establish strong relationships with Financial Advisers in many parts of the world, including the Channel Islands, Scandinavia and Africa as well as the Middle East and Asia-Pacific region. We offer a wide choice of international products from both Guernsey and the Isle of Man. THE ESTABLISHED OFFSHORE CENTRE OF GUERNSEY We offer a wide range of simple, value for money products from our Guernsey branch operation. By operating from the UK via a branch in Guernsey we enjoy the benefits of the resources, experience and advancement of the larger Friends Provident Group. This enables us to contain our expenses and allows us to offer highly competitive product terms to international investors. Guernsey is a dependency of the British Crown with its own laws, customs and liberties. The Island is effectively selfgoverning under a non-party political system, enabling Guernsey to boast a history of political and financial stability. Guernsey is well known for its business integrity. Its long record of political stability and favourable tax status, combined with a robust regulatory system, has allowed it to develop a Scotland sophisticated finance industry. As a result, Guernsey is one of the most highly respected offshore financial centres in the world. Ireland Wales England Friends Provident International Limited Isle of Man Friends Provident International Guernsey branch Friends Provident International Salisbury 5

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10 YOU CAN RELY ON FRIENDS THE ISLE OF MAN We offer a range of specialist wealth management products from our offshore subsidiary, Friends Provident International Limited, in the Isle of Man. Through this specialist product range we can offer technical expertise to both UK and International investors. Like Guernsey, the Isle of Man is a firmly established financial centre. It is universally recognised as one of the premier locations for offshore life assurance business. It is also known for its hallmarks of stability and protection and enjoys many of the benefits that offshore status bestows. Indeed, the strength of the Island and the Manx economy has been formally recognised, as the Island has received coveted AAA credit ratings from both Standard & Poor s and Moody s (AAA rating the highest level of credit rating). Located at the heart of the British Isles, the island has excellent communications and access to the major financial centres of continental Europe and the UK. HONG KONG In addition to the operations in Guernsey and the Isle of Man, we have a branch office in Hong Kong. This has been operating successfully for over a decade and will continue to expand in line with Friends Provident International Limited. The core strength of the operation lies in our team of highly professional and experienced staff. With their in-depth local knowledge and international investment expertise, they are well equipped to deal with intermediaries and investors of all types, whether they are located in Hong Kong or elsewhere in the Asia-Pacific region. To complement this, we have an extensive range of Chinese and English literature readily available. With Friends Provident International s varied product portfolio and choice of offshore centres, we offer a wide range of opportunities to help meet financial planning needs. Friends Provident International Limited Isle of Man 7

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12 FRIENDS SHARE THEIR EXPERIENCE I NVESTMENT EXPERTISE Friends Provident International s offshore funds are managed by the Global Asset Management Company ISIS Asset Management plc. Part of the Friends Provident group, ISIS was formed by the merger of Friends Ivory & Sime and Royal & SunAlliance Investments and is listed on the London Stock Exchange. ISIS funds under management now total US$92 billion. With over 120 investment professionals it is one of the UK s largest Asset Management Companies. In addition to managing offshore funds for the Friends Provident Group, ISIS has an external client base including a large number of major institutional clients in the UK and around the world. As a major stock market investor, ISIS actively encourages the companies in which they invest to improve the way they manage social and environmental issues through dialogue and engagement at a senior level. This approach is called Responsible Engagement Overlay or. The approach is a commitment to use ISIS influence as a shareholder to support and encourage companies to move toward more socially responsible and sustainable business practices. does not screen out any companies and hence will not affect the fund managers decisions. Instead it is aimed at improving the behaviour of the companies in which Friends Provident invests. Improved practices ultimately result in improved shareholder value. As such, can only be a positive influence on the financial performance of each fund. ISIS AWARD WINNING TRACK RECORD Financial Adviser Service Awards 5 Star Service Award 2001 Most Improved Service Provider Award 2001 Professional Pensions Specialist Investment Manager of the Year Award April 2001 Pensions Management Best SRI Fund Manager December 2001 Global Pensions European Awards Specialist Manager of the Year August 2002 Growth Company Awards AIM VCT of the Year Award June 2001 AIM Trust AIM Fund of the Year April 2002 Money Observer Investment Awards Best Smaller Companies Trust (The Aim Trust) March 2001 Investment Week Investment Trust of the Year for British Assets Trust November

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14 FRIENDS GIVE YOU MORE ALTERNATIVES OFFERING YOU EVEN MORE CHOICE In addition to the range of Friends Provident International funds, we offer access to over 90 funds from 24 of the world s leading investment houses, through our Isle of Man product range. This extensive fund range provides investors with: Specialist Expertise Award-winning expertise from some of the world s leading investment managers Investment management by specialists in specific areas creating the potential to achieve even higher capital growth Extensive Choice Access to every geographical area including all major and emerging markets A wide range of investment vehicles to choose from equity, bond, deposit and managed currency funds Easy Access Access to top performing funds at low investment levels not normally available to individual investors Flexibility Unlimited free switching* Ability to construct a portfolio tailored to individual risk profiles No restrictions on asset type or fund manager Our External Fund Managers include: Aberdeen Barclays Baring Dresdner Fidelity GAM HSBC Invesco Investec Principal Sarasin Jardine Fleming Schroder Templeton Gartmore Ciptadana Merrill Lynch Momentum Thames River Vanguard Brandeaux * On selected products from the Isle of Man product range 11

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16 FRIENDS ARE WORTH I NVESTING IN AWARD-WINNING PRODUCTS We offer a wide range of products available through two separate centres Guernsey and the Isle of Man. INVESTMENTS Our single premium products offer access to a broad range of investment opportunities. From cautious investments such as With Profit Funds and protected funds to single economy equities. Investors can construct a portfolio to match their own disposition to risk and reward. PORTFOLIO MANAGEMENT Our range of single premium offshore life assurance policies is designed to offer the complete investment solution of maximum investment choice, without the hassle and expense of the accompanying administration. An ideal vehicle for the experienced investor seeking a sophisticated investment management service. SAVINGS Our award-winning savings products have been designed to meet a variety of savings needs, from short-term products for internationally mobile expatriates to long-term products for education funding or loan repayment. PROTECTION Our industry acclaimed Life Assurance, Critical Illness and Income Protection products have long been recognised as among the best available, allowing people to protect their own and their family s income and financial well-being, in the event of short or long-term illness or untimely death. RETIREMENT PLANNING Our flexible pension products are designed to suit all types of investor, whether they are settled in one country or are internationally P R O T E C T E D G L O B A L G R O W T H F U N D mobile, moving from country-to-country and job-to-job. Full details of all our International products can be INTERNATIONAL INVESTMENT TERM ASSURANCE BOND obtained from your Financial Adviser. I N T E R N A T I O N A L C R I T I C A L I L L N E S S P L A N TECHNICAL G U IDE FRIENDS OFFER YOU A WEALTH OF OPPORTUNITIES YOU F EEL PROTECTED AMONGST F R IEN DS The majority of Friends Provident International s product range is unit linked. The value of these products is not guaranteed and can go up or down depending on investment performance. The performance of the With Profit Fund depends on the investment profits the Fund makes and the decisions taken by Friends Provident as to their distribution. A Market Value Reduction may be applied in some circumstances. 13

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18 IT S GOOD TO HAVE FRIENDS IN H IGH PLACES Friends Provident International has proven itself to be an award-winning performer. Detailed below are some examples of the recent awards we have received. O FFSHORE FINANCIAL REVIEW AWARDS FOR EXCELLENCE Best International Protection Product Provider 5 years in a row PORTFOLIO INTERNATIONAL AWARDS Best Broker Service 2002 Runner-Up Best Single Premium Guaranteed Fund 2002 Runner-Up Best New Product 2002 Best Regular Premium Protection Product Provider 2001 Runner-Up Best Secure Guaranteed Product Provider 2001 Runner-Up Best Regular Savings Product Provider 2001 I NTERNATIONAL MONEY MARKETING AWARDS Best Pension Provider of the Year 2000 Best Savings Provider of the Year

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20 THE F UTURE LOOKS GOOD WITH FRIENDS COMMITTED TO IMPROVING STANDARDS At Friends Provident International we are committed to recruiting and developing high quality employees so that we can offer the best service possible. In December 2000 we received the Investor in People award a UK Government backed scheme which recognises companies that show a clear commitment to the development of their employees and the maintenance of high quality training standards. Friends Provident International appreciates the importance that information technology has on service standards. As a result, we continually review our computer systems and processes, with the needs of Financial Advisers and investors in mind. We aim to provide the finest quality service in the most efficient way possible. This review process has enabled our extranet to be developed to provide an on-line servicing capability for Financial Advisers. In addition it sets a precedent for the industry with a new business electronic submission facility for selected products. H OW TO FIND OUT MORE Further details about Friends Provident International can be found on our website: The website contains information on all Friends Provident International s products and range of investment opportunities. The site is regularly updated with news from investment managers ISIS Asset Management plc, regarding current markets and fund performance. Should you have any queries, please contact us on: Salisbury Guernsey Products Telephone: +44 (0) fp.int@friendsprovident.co.uk Isle of Man Offshore Products Telephone: +44 (0) servicedesk@fpiom.com Hong Kong Office Telephone: servicing@fpihk.com 17

21 CAUTIONARY NOTES The information in this brochure is based upon Friends Provident International s understanding of UK, Guernsey and Isle of Man law and practice as at January Please note that legislation may change. Fund prices may go down and up depending on investment performance and past performance is not necessarily a guide to future performance. Please note that securities held within a fund may not be denominated in the currency of that fund and, as a result, fund prices may rise and fall purely on account of exchange rate fluctuations. The rules and regulations made by the UK Financial Services Authority under the Financial Services and Markets Act 2000 for the protection of investors may not apply. Holders of policies issued through the Isle of Man operation will not be protected by the UK Financial Services Compensation Scheme (FSCS) if the Company should become unable to meet its liabilities to them. Policyholders of Friends Provident International Limited have the protection of the Life Assurance (Compensation of Policyholders) Regulations 1991 of the Isle of Man. For all policies issued by Friends Provident Life and Pensions Limited in the UK or Guernsey, policyholders resident in the UK, the Isle of Man or the Channel Islands at policy commencement have the protection afforded by the UK Financial Services Compensation Scheme (FSCS). The FSCS makes provision for payments to policyholders of a UK authorised company if it is unable to meet its financial commitments. Elsewhere, policyholders are not protected by a formal compensation scheme. However, policyholders should be reassured that, like every other UK authorised life office, the solvency of Friends Provident Life and Pensions Limited is strictly monitored by the UK Financial Services Authority. Please be aware that Friends Provident International does not provide legal, taxation or investment advice to investors and any advice sought should be through a Financial Adviser who will ensure that the information is directly relevant to the specific legislation within the investor s country of residence.

22 Salisbury office: United Kingdom House, Castle Street, Salisbury SP1 3SH, England. Telephone +44(0) Fax +44(0) Guernsey office: Albert House, South Esplanade, St. Peter Port, Guernsey GY1 1AW, Channel Islands. Telephone:+44(0) Fax +44(0) Isle of Man office: Royal Court, Castletown, Isle of Man IM9 1RA, British Isles. Telephone +44(0) Fax +44(0) Guernsey operation: Friends Provident Life and Pensions Limited trading as Friends Provident International for business conducted outside the UK Registered and Head Office: Pixham End, Dorking, Surrey RH4 1QA, England. Incorporated company limited by shares and registered in England number Isle of Man operation: Friends Provident International Limited Registered and Head Office: Royal Court, Castletown, Isle of Man IM9 1RA, British Isles. Incorporated company limited by shares and registered in the Isle of Man number Regulated by the Financial Services Authority for UK investment business. Provider of life assurance and investment products. The rules and regulations made by the Financial Services Authority of the United Kingdom will not normally apply to persons resident outside the United Kingdom XGU