UK – Major Norwich based insurance group, Norwich Union (NU) has introduced 57 external funds to its range of investment bonds.

The new range will include index trackers, managed funds, fixed interest, UK and international equity, specialist equity and specialist managed.

Says Julie Chong, head of investment propositions at NU: “The benefits of being able to access a total of 86 funds with varying investment styles are available to both new and existing clients. Through the introduction of these external funds, we are now able to provide a convenient way to switch between funds and fund managers without incurring the tax disadvantages of encashment.”

According to NU, the new funds will help IFAs offer extra flexibility and choice to their clients, irrespective of investment objectives and attitudes towards risk, since they combine the scope for portfolio management through a single investment bond.

The new funds will be rated by Standard & Poor’s and their launch coincides with NU expanding its Bond 2000 fund range to include all the funds of Portfolio Bond and FlexiBond ranges.