Savings and investment combo product

A new product combining savings and investment has been launched though a partnership between French insurer AG2R La Mondiale Europartner and UK ETF specialist SCM Private, offering UK investors tax efficient access to an HMRC-compliant investment.

Savings and investment combo product


Investors in the Dynamic Duo Savings and Investment product will be able to choose a mix between the amount invested in AGR2 La Mondiale’s Sterling Guaranteed Fund and the SCM Absolute Return Portfolio, including one free switch annually between the two investments.

The offshore bond has no initial charges and a maximum annual wrapper charge of 0.5% per annum, and offers and Luxembourg policy holder protection. It also offers seven day liquidity and is currently paying a minimum gross interest rate of 2.35%.

The SCM Absolute Return Portfolio is invested across 2760 equities, 1116 bonds and five commodities. As of the end of April UK equities accounted for the largest proportion of assets was invested in UK equities (36.8%), followed by UK corporate bonds (21%).

Steve Whyburd, UK Sales Director, La Mondiale Bespoke Solutions Ltd said, “With bank deposit rates at historically low levels and likely to remain low for some time to come, cross-border life policies are a tax efficient way for UK domiciled residents to turn a capital sum into regular income. This new product is suitable for investors residing in the UK, regardless of their citizenship, and is compliant with UK Offshore Bond rules should clients move between France, Spain, Italy, Portugal, Luxembourg, Belgium and the UK.”

Last week SCM Private unveiled a free online investment costs calculator. Launched as part of its True and Fair campaign, the calculator will reveal the cost of investments and the impact of that cost on the amount invested.



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