Calling all offshore providers

The 12th International Fund and Product Awards are now open for entries.

An established part of the offshore calendar, these awards are in honour and recognition of groups who distribute financial products on an international basis.

Incisive Media has been at the forefront of acknowledging the work of the offshore financial services industry. In a highly competitive market, international growth is not only a major strategy for many financial services groups looking for ways to expand, it continues to play an important role in providing services to those who require or want a more international financial services proposition.

Last year’s Awards saw success for some familiar and new players in the International Fund and Product Awards. For the first time, recognition was achieved by groups that provide international financial products primarily back into the UK.

This year we hope to add to this by rewarding the burgeoning Qualifying Recognised Overseas Pension Scheme (QROPS) sector, with the introduction of Best QROPS Provider award.

This year’s Awards will be chaired by Deborah Benn and a judging panel has now been appointed composed of a wide range of experts involved in the investment and offshore industry. These include Paul Stanfield, Federation of European Independent Financial Advisers (FEIFA), Graham Barnes of The Fry Group, Sam Instone of AES International, Bill Blevins of Blevins Franks, Peter McGahan of Worldwide Financial Planning, Philip Martin of F&C Investments, Hannah Beecham of ExpatMoneyChannel, Jim Roberts, Consultant, Financial Services Industry, Malcolm Kerr of Ernst & Young, Sam Liddle of MitonOptimal and Laurence Boyle of Williams de Broe.

How do the awards work?

The Awards are a combination of quantitative and qualitative assessments. On the quantitative assessment side we have the support of Morningstar and AKG Actuaries and Consultants. In terms of qualitative assessment, entrants are required to complete a submission for each award they enter. In assessing a submission, judges will be looking for evidence of:

• Overall business proposition,
  
• Appropriateness and balance of product range,
  
• Levels of service and support to distributors and/or customers
  
• Commitment to target market and industry
  
• Use of technology and product innovation
  

Fund groups will be subject to an initial performance check by Morningstar. This looks at fund performance over calendar years 2008, 2009 and 2010. Those fund groups that pass the initial quants screen automatically make it on to the shortlist and will be invited to complete a short questionnaire.

The deadline for entries is 21 March 2010 and a shortlist will be published in May 2011.

Entry criteria:

The following groups will be accepted:

• The international division of a UK-based life, bank, fund, structured product or private health group based either in the UK or offshore.
• Groups based in financial centres, such as the Isle of Man, Dublin, Jersey, Guernsey, Gibraltar or Luxembourg are also eligible.

As a rule of thumb, the awards are aimed at UK groups that distribute financial products and services primarily through independent financial advisers.
There is no restriction on the number of Awards you can enter.
The judges have the discretion to decide eligibility.

Products and services entered must be in existence during the period 1 May 2010 and 13 May 2011. New products must be launched prior to the closing date for completed questionnaires of 21 March 2011.

How to Enter:
Download an entry form at: www.offshoreawards.com/static/-enter or email: Deborah.Benn@sky.com.