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February 2022 sector review of our defined fund range
We successfully completed a full review of the sectors in our defined fund range between October 2019 and June 2021. As part of our ongoing fund governance we have recommenced the cycle, reviewing each sector again, to ensure the fund choices continue to remain appropriate and help you meet your investment goals.
For our February 2022 review, we have looked at the Global Managed and Global Emerging Markets Equity sectors.
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 FEBRUARY 2022
We're pleased to announce the addition of a number of new funds across the products listed above, which are available for investment from February 2022. These are now featured in the fund guides published from February onwards and in the fund centres.
We've also removed some funds with immediate effect and these are now closed to new business and switches in. Existing investors affected by the removals have been written to providing them with two months’ notice of our intention to switch their holdings out and into an alternative fund. These clients can continue to invest in the closing fund(s) until we switch them out. Switches will take place between 13 and 27 April 2022. Samples of these letters can be viewed opposite.
If clients are happy with our choice of receiving fund 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.
We've removed ten funds (14 including currency variants) that no longer satisfy the requirements of the range. These funds are no longer available to new business plans or switches in from existing plan owners wishing to invest in the funds for the first time.
The table below outlines the closing funds and the receiving funds we will automatically switch plan owners into.
Sector: Global Managed
Closing fund
OCF**
Receiving fund
OCF**
Janus Henderson Cautious Managed A Acc GBP – GB0032477639
1.44%
Fidelity Multi-Asset Open Strategic A Acc GBP – GB00B8WR7L45
1.77%
Momentum GF Harmony Sterling Balanced C Acc GBP – LU0651985417
2.64%
Fidelity Multi-Asset Open Strategic A Acc GBP – GB00B8WR7L45
1.77%
Momentum GF Harmony Sterling Growth C Acc GBP – LU0651985847
2.67%
SVS Brooks Macdonald Blueprint Balanced B Acc GBP – GB00B054QG49
1.91%
Jupiter Merlin Growth Portfolio L Acc GBP – GB0003629267
2.47%
GAM Star Global Growth A Acc GBP – IE00B55YB208
2.08%
Janus Henderson Multi-Manager Active A Acc GBP - GB0031413593
2.33%
GAM Star Global Growth A Acc GBP – IE00B55YB208
2.08%
Invesco Asia Asset Allocation A Acc USD – LU0367026217
1.66%
JPM Asia Pacific Income A Acc USD – LU0210527791
1.79%
Invesco Asia Asset Allocation A Acc EUR Hedged (Read below note) - LU0482498259
1.66%
JPM Asia Pacific Income A Acc USD – LU0210527791
1.79%
Momentum GF Harmony Asian Growth C Acc USD – LU0651984105
2.74%
JPM Asia Pacific Income A Acc USD – LU0210527791
1.79%
Please note that the closing fund is priced in EUR, while the receiving fund is priced USD. This means that polices not denominated in USD will be subject to the normal foreign exchange movements from the point of switching into the receiving fund, and will continue for the period this fund is held.
JPM Emerging Markets Equity A Acc EUR – LU0217576759
1.73%
JPM Africa Equity A Acc USD – LU0355584466
1.81%
JPM Emerging Middle East Equity A Acc USD – LU0210535208
1.80%
JPM Africa Equity A Acc EUR – LU0355584979
1.81%
JPM Emerging Middle East Equity A Acc EUR – LU0401356422
1.80%
Templeton Emerging Markets Smaller Companies A Acc USD – LU0300738514
2.49%
JPM Emerging Markets Small Cap A Acc USD – LU0318931358
1.79%
Templeton Emerging Markets Smaller Companies A Acc EUR – LU0300743431
2.49%
JPM Emerging Markets Small Cap A Acc EUR – LU0318933057
1.81%
ADDITIONS - LifePlan
We've added one new fund into the Global Managed sector.
Sector: Global Managed
Fund name
Currency options
Morningstar category
Morningstar Star Rating*
OCF**
JPM Asia Pacific Income
USD
Asia Allocation
4 Star
1.79%
REMOVALS - LifePlan
We've removed six funds that no longer satisfy the requirements of the range. These funds are no longer available to new business plans or switches in from existing plan owners wishing to invest in the funds for the first time.
The table below outlines the closing funds and the receiving funds we will automatically switch plan owners into.
Sector: Global Managed
Closing fund
OCF**
Receiving fund
OCF**
Janus Henderson Cautious Managed A Acc GBP – GB0032477639
1.44%
Fidelity Multi-Asset Open Strategic A Acc GBP – GB00B8WR7L45
1.77%
Momentum GF Harmony Sterling Balanced C Acc GBP – LU0651985417
2.64%
Fidelity Multi-Asset Open Strategic A Acc GBP – GB00B8WR7L45
1.77%
Momentum GF Harmony Sterling Growth C Acc GBP – LU0651985847
2.67%
SVS Brooks Macdonald Blueprint Balanced B Acc GBP – GB00B054QG49
1.91%
Jupiter Merlin Growth Portfolio L Acc GBP – GB0003629267
2.47%
GAM Star Global Growth A Acc GBP – IE00B55YB208
2.08%
Janus Henderson Multi-Manager Active A Acc GBP - GB0031413593
2.33%
GAM Star Global Growth A Acc GBP – IE00B55YB208
2.08%
Momentum GF Harmony Asian Growth C Acc USD – LU0651984105
2.74%
JPM Asia Pacific Income A Acc USD – LU0210527791
1.79%
ADDITIONS - Protected Lifestyle
We've added one new fund into the Global Managed sector.
Sector: Global Managed
Fund name
Currency options
Morningstar category
Morningstar Star Rating*
OCF**
JPM Asia Pacific Income
USD
Asia Allocation
4 Star
1.79%
REMOVALS - Protected Lifestyle
We've removed five funds that no longer satisfy the requirements of the range. These funds are no longer available to switches in from existing plan owners wishing to invest in the funds for the first time.
The table below outlines the closing funds and the receiving funds we will automatically switch plan owners into.
Sector: Global Managed
Closing fund
OCF**
Receiving fund
OCF**
Janus Henderson Cautious Managed A Acc GBP – GB0032477639
1.44%
Fidelity Multi-Asset Open Strategic A Acc GBP – GB00B8WR7L45
1.77%
Momentum GF Harmony Sterling Balanced C Acc GBP – LU0651985417
2.64%
Fidelity Multi-Asset Open Strategic A Acc GBP – GB00B8WR7L45
1.77%
Momentum GF Harmony Sterling Growth C Acc GBP – LU0651985847
2.67%
SVS Brooks Macdonald Blueprint Balanced B Acc GBP – GB00B054QG49
1.91%
Janus Henderson Multi-Manager Active A Acc GBP - GB0031413593
2.33%
GAM Star Global Growth A Acc GBP – IE00B55YB208
2.08%
Momentum GF Harmony Asian Growth C Acc USD – LU0651984105
2.74%
JPM Asia Pacific Income A Acc USD – LU0210527791
1.79%
Notes:
Information contained within these tables is sourced from Morningstar® and is correct as at 3 February 2022.
* Morningstar® awards a Star rating based on historic returns adjusted for risk and charges, with the top 10% of funds in a category awarded a 5 Star and the bottom 10% a 1 Star.
** Ongoing Charge (“OCF”) includes the Annual Management Charge plus other operational expenses, so better reflects the total costs applied to the fund.
