Samnew

by Sam Kelly DipPFS, EFA, BA (Hons)

Managing Partner

Chorus Financial

Chorus Financial strive to offer the best Investment Management in Spain, basing our client portfolios on UK best practises. When we select funds for your portfolio – whether they be for a SIPP or QROPs, or a Spanish Compliant Investment Bond (these can include Quilter International, SEB, Lombard International) – we do so with 100% independence. This means we select funds based on their appropriateness, value and quality, rather than because we receive commissions or incentives to do so.

Many of you will have existing plans in Spain, set up by an adviser since you moved here. We will review these arrangements for free, without pressure or obligation, and clearly demonstrate how we can improve the performance of your current investments whilst reducing fees.

Many expats are unaware that their UK based investments like ISAs, Premium Bonds and other NS&I products may not be suitable for Spanish residents and could potentially result in you unwittingly breaking tax laws that could lead to large, unexpected fines. Even simply leaving money in your UK bank account can create complex reporting requirements that can easily be avoided.

Some of the World’s largest companies, including household names like The Prudential, Quilter PLC and others, have created products designed specifically for expats living in Spain. These products can allow you to achieve investment growth, reduce taxation and are also fully compliant in Spain, so can help to avoid lengthly and complicated tax requirements.

Chorus can now offer Spanish compliant investment products with no tie-in or exit fees, whose charges start from as little as 0.25% per annum (plus an admin fee).

Chorus clients benefit from independently selected portfolios that are well-diversified amongst the leading asset managers in the world. This means Chorus clients’ do not have too much exposure to any individual fund management group, thereby spreading the risk. Our current portfolios contain funds from, but not limited to, the following companies:

Rathbones:

Founded in 1742.

A FTSE 250 listed company.

Managing more than £50.5 billion as of September 2020.

15 offices throughout the UK and Jersey.

Vanguard:

Founded in 1975 and eadquartered in Pennsylvania, USA

$6.2 trillion in global assets under management, as of January 31, 2020

The largest provider of mutual funds in the world.

Royal London:

Founded 1861.

Headquartered in London, UK.

£100 billion funds under management.

Baillie Gifford:

Founded in Edinburgh in 1908 and still has its headquarters in the city. Corporate offices in New York and London.

As of June 2020, assets under management and advice were valued at £262 billion.

BlackRock:

Founded in New York City in 1988.

BlackRock is the world’s largest asset manager, with $7.4 trillion in assets under management as of end-Q4 2019.

Fidelity:

Founded in 1946.

Is an American multinational financial services corporation based in Boston, Massachusetts.

One of the largest asset managers in the world with $3.3 trillion in assets under management as of June 2020.

Fundsmith:

London-based investment management company, founded in 2010 by Terry Smith.

As of December 2019, Fundsmith manages £26bn in assets.

Lindsell Train:

Founded in 2000 in the UK.

Operates as an alternative investment manager, specialising in UK, Japanese and global equity mandates.

$22 billion assets under management as of April 2020.

Franklin Templeton (Legg Mason):

A global investment firm founded in New York City in 1947.

$717 billion assets under management as of 2019.

Specialized expertise across a full range of asset classes. It offers products under the Franklin, Templeton, Mutual Series and Fiduciary brand names, among others.

JPMorgan Chase and Co.:

Founded in 2000.

An American multinational investment bank and financial services holding company headquartered in New York City.

As of 2020, the asset management arm of the bank has US$3.37 trillion in assets under management.

Schroders:

A British multinational asset management company, founded in 1804 and headquartered in London, UK.

£500 billion assets under management as of 2019.

Nothing within this article should be regarded as a recommendation to invest; a recommendation will only be made following a full individual assessment of suitability and appropriateness.

To find out more about how Chorus can help you achieve tax efficient returns on your savings, pensions or investments in Spain, call us on +34 965 641 163, email info@chorusfinancial.es or visit www.chorusfinancial.es for more information.

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