Fidelity FundsNetwork is extending its range of tax-efficient wrappers.

UK funds platform, Fidelity FundsNetwork is extending its range of tax-efficient wrappers with an international portfolio (offshore) bond to be launched in April. The international bond complements the FundsNetwork investment bond and SIPP wrappers, which have attracted contributions approaching $1 billion since their launch in December 2005. Advisors will be able to invest client money in more than 1,000 mutual funds from 55 providers through the new wrapper, using the tax efficient structure of an offshore bond. The new bond will offer a transparent charging structure as access to any of the 1,000 mutual funds on the platform is available at no initial charge. There is no switching fee applied when switching between funds within the bond, and it is integrated into the platform’s online client management tools and services. Full commission flexibility offers advisors a wide range of remuneration structures.