JUNE 2021 SECTOR REVIEW – FURTHER ENHANCING OUR DEFINED FUND RANGE

We have completed the seventh stage of a review of our defined fund ranges. In this step, we have looked at Islamic and Currency/money market funds. 

Why we conduct reviews

By reviewing funds on a regular basis, using tools from independent global investment research company Morningstar®, the company that powers our interactive fund centres, we seek to identify and add funds that stand out in their respective peer groups for performance, risk/reward balance, objectives or investment style. We also look at funds that analysts at Morningstar believe will outperform their sector. Those funds you've asked to see in the range will be considered as long as they provide the necessary qualities and fit our parameters.

A review isn't just about adding funds. Importantly, we also take steps to remove funds we feel are no longer appropriate for the range. Our goal is to provide you with a best of breed range of quality funds covering a variety of sectors, regions and asset classes.

THE CHANGES FOR JUNE 2021

There are a number of changes to our Currency/Money Market funds which affect the products listed above.

We've added a new fund to Protected Lifestyle. The fund is available with immediate effect and is available in the June fund guides and in our interactive fund centre.

We've removed three funds with immediate effect and these are now closed to new business and switches in. Existing investors affected by the removals will be written to in June providing them with two months’ notice of our intention to switch their holding out and into an alternative fund. These clients can continue to invest in the closing funds until we switch them out. Switches will take place between 18 August and 1 September 2021. Samples of these letters can be viewed opposite.

If clients are happy with our choice of receiving funds then they do not need to do anything and will be switched automatically (including redirection of any regular payment allocation where applicable). However, if they would prefer to switch to a different fund it’s very easy to do. Switches can be submitted by completing and returning a Fund switch instruction form or, if registered for online switching, conducting a switch online fast and efficiently.

Click on the sliders below to see details of the changes for each product range.

Notes:

Information contained within these tables is sourced from Morningstar® and is correct as at 9 June 2021.

** Ongoing Charge (“OCF”) includes the Annual Management Charge plus other operational expenses, so better reflects the total costs applied to the fund.