Skandia International, the offshore and cross border business of the Skandia and Old Mutual Group, has launched a new Singapore version of its international investment solution.

“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,” said Skandia’s  principal officer for Singapore, David Macdonald.

The investment account, a whole of life assurance policy, will enable investors to access global stock markets through a range of locally approved investment funds.

The company launched the executive investment account last year for accredited investors who have an annual income of more than £125,000 ($205,000) or personal net assets of more than £0.8 million.

The account only catered for one section of the market so Skandia has now expanded into the non-accredited market to enable advisors to offer the account to more clients.

If a client’s financial status improves through an increase in net worth or income, from non-accredited to accredited, as defined by the Monetary Authority of Singapore, the account may be amended to enable access to collective funds in addition to those approved by MAS. When investors reach accredited status, they will be able to access any collective investment.

Skandia International first opened in Singapore this time last year.