What is and who can apply for the Personal Investment Management Service (PIMS)?

PIMS is an offshore life assurance bond, issued in the tax efficient jurisdiction of the Isle of Man, and allows you to build an investment portfolio dedicated to your needs. It is exclusively available through financial advisers and you must seek advice before applying.

PIMS is available as long as you are an individual, company or trustee who is not resident in the USA, although some restrictions will apply to other countries. You must be 18 years of age or older to apply for PIMS and have at least GBP 50,000 (or currency equivalent) to invest.

It is designed to be a medium to long-term investment (5 years or more) and will give you the opportunity to invest a cash sum and/or any existing investments (subject to acceptability ) with the aim of increasing their value. As it is a life assurance policy there is no constraint on the length of time PIMS may be held, subject to there being a surviving life assured.

PIMS comes in two versions depending on your investment needs - PIMS Focused and PIMS Flexible.

PIMS Focused allows you to choose from a carefully selected range of investment funds which cover a wide and diverse variety of investment styles. All the funds in this range offer discounted initial charges.

PIMS Flexible allows you to choose from an almost unlimited array of investments. Not only does it offer access to standard pooled investments such as unit trusts, but also more specialist boutique investments such as hedge funds and company shares. There are no restrictions on the number of investments that you can choose from your PIMS policy, making it easy to combine the expertise of numerous investment managers.

As with many investments there are some risks associated with investing and you can read about these in the Key Features and Guide to Investment . Ultimately your financial adviser will be able to advise you as to whether or not PIMS is a suitable product for you.