MEDIA RELEASE PR35192
Skandia International Expands its Business in Singapore
LONDON, June 25 /PRNewswire-AsiaNet/ --
Skandia International, the offshore and cross border business of the
Skandia and Old Mutual Groups, is expanding its business, on the first
anniversary of opening a branch in Singapore.
Despite almost unprecedented turbulence in the global stock markets
recently, Skandia International believes that the current stock market
volatility can offer excellent buying opportunities to build a diversified
investment portfolio.
"There is a great deal of demand for the sort of investment solutions we
offer. Our global presence and enviable track record among financial advisers
and investors around the world has contributed massively to what has been a
very successful first year for us in Singapore. We are seeing affluent and
high net worth investors continue to start open-architecture investment
accounts with us, to be ready to take advantage of buying investment
opportunities when they arise," said David Macdonald, Royal Skandia's
Principal Officer for Singapore.
"Royal Skandia's Investment Account will enable financial advisers to
recommend a market leading open-architecture investment solution to a broader
range of clients. We are confident this Singapore version of our
internationally popular investment solution will be an exciting option for
investors wanting to construct an investment portfolio, without restricting
the fund selection to one fund management company or being restricted to a
particular asset class or geographical region."
Last year, Skandia International successfully launched the Executive
Investment Account (EIA) for accredited investors. The EIA only caters for
one section of the market and so Skandia International has expanded into the
non-accredited market with the addition of the 'Investment Account'.
The 'Investment Account' assists investors in accessing global stock
markets through a range of locally approved investment funds. These funds,
approved by the Monetary Authority of Singapore (MAS), can be combined to
build tailored portfolios within the Investment Account, which meet their
individual needs.
The new product works alongside the EIA so that if an investor's status
changes through an increase in net worth or income, from non-accredited to
accredited, as defined by MAS, the account may be amended to enable access to
collective funds in addition to those approved by MAS.
Skandia strongly believes that investors should seek financial advice
prior to making any long term financial decisions. For this reason, the
company distributes its products through professional advisers only.
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SOURCE: Skandia International
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