Sanlam Guernsey, part of the South African financial services group Sanlam, is to issue a new offshore bond for UK-based investors called the Sanlam Global Investment Plan, which will be available on a single or joint basis, as well as to companies, partnerships and trustees.

The product, which is an investment linked whole of life assurance policy, will be available in sterling, dollars and euros, carrying a minimum initial investment of 50,000 in each currency and additional investments of at least 5,000.

“The SGIP is a long-term investment and also allows access to leading global fund managers, including Sanlam’s own discretionary investment management services, or an independent discretionary investment manager of one’s choice. In addition, investors will have access to Sanlam’s Accel risk profiler and Accel investment solutions through the Sanlam Global Investment Plan,” said Cobus Kruger, managing director of Sanlam Global Investment Solutions.

“We are offering_­ clients a unique investment strategy that cushions the value of an investment in funds against increased volatility in equity and bond markets, merging capital preservation and investment growth needs in a single portfolio. This is called P²Strategies, managed by Milliman, one of the world's largest risk management firms, currently only available through Sanlam.  P²Strategies is designed to provide risk-adjusted compound returns over time.”

The bond’s annual advice fee is a maximum of 1.5 per cent, with administration fees ranging from 0.4-0.25 per cent, depending on the size of the plan.

In other recent news, earlier this month it emerged that Sanlam Private Wealth, part of Sanlam UK, is to acquire three IFA businesses as part of its growth strategy of purchasing the client books of retiring advisors.

The three businesses - based in the south of England - will reportedly bring to the firm a further £60 million (about $94.5 million) in assets under influence.  

The purchases will lift the total number of companies the firm has acquired so far to 24.

Subsequent to the acquisitions, Sanlam Private Wealth will have brought in £120 million in assets under influence so far this year, accounting for a considerable chunk of its £300 million target for 2012 in terms of acquisitions.