Overview

Macquarie adds AXA Offshore Bonds to Wrap

06 August 2010

BRISTOL – Macquarie has extended the range of integrated tax wrappers available to advisers using Macquarie Wrap with the addition of AXA Isle Of Man Offshore Bonds.

The recent increase to Capital Gains Tax rates has caused renewed interest in offshore bonds from financial planners looking to maximise tax efficiency across their clients’ portfolios. The two new bonds now available on Macquarie Wrap are AXA Isle of Man Evolution Bond and AXA Isle of Man Estate Planning Bond.

Macquarie’s Head of Distribution, John Porteous said: “Macquarie believes in providing a wrap platform that delivers the products and services that advisers need to make their businesses run more efficiently. We currently offer advisers’ access to the Canada Life Offshore Bond but, due to demand, we have extended the range to include the AXA Isle of Man Bonds. This improves the choice and flexibility in the financial planning process by enabling advisers to manage more of a client’s portfolio on Macquarie Wrap resulting in a holistic approach to wealth planning.

“This integration with AXA Isle of Man was put in place following adviser feedback and is a further demonstration of our planner led approach to development and innovation.”

Martin Jennings, Marketing & Product Development Director for AXA Wealth says “This is another demonstration that advisers are looking to investment platforms to manage their clients’ assets. We are pleased to be offering Macquarie’s customers our market leading offshore bond solutions.”

About Macquarie
Macquarie is a global provider of banking, financial, advisory, investment and funds management services and acts on behalf of institutional, corporate and retail clients and counterparties around the world.

Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries and employs approximately 14,600 people and has assets under management of more than £197 billion (as of 31 March, 2010). Macquarie’s Europe, Middle East and Africa (EMEA) operations, headquartered in the UK, were established in London and Munich in 1989 and now extend to more than 1450 people in 17 offices across 12 countries.

The Macquarie Banking and Financial Services Group is the primary relationship manager for Macquarie Group’s (Macquarie) retail client base, providing a diverse range of products and services to personal investors, financial planners and other professional service providers. Amongst the services provided by Macquarie is one of the most successful Wrap Account offerings in Australia, which serves over 70,000 clients on behalf of over 2,500 financial planners. Macquarie rolled-out its Wrap Account to planners in the UK in March last year and is currently focussed on growing this platform and developing additional offerings in support of planners’ service to clients. The Macquarie Banking and Financial Services Group has approximately 3,000 employees with operations in Australia, New Zealand, Asia, North America, India as well as the UK and Europe.

For further information please contact:

Louise Dolan/ Daisy Hall, FD
Tel: 020 7269 7192/ 7226