What are the changes to the funds available to me (UP960)? The changes listed below will be made to the funds between July 2018 and the end of the year. We will update the information we have online with precise dates for the changes when we know them. Current Fund Aberdeen Asia Pacific Equity Amanah Pension Baillie Gifford European Equity Baillie Gifford Japanese Equity Objectives? No, it's remaining "To grow your capital by investing mostly in companies in the countries of the Asia Pacific region, excluding Japan. The Fund may invest in some countries that are still developing their economies." No, it's remaining ""This Fund aims to create long-term appreciation of capital by investing in a diversified portfolio of companies from around the world that are compliant with Islamic Shariah principles and seeks to match the performance of the Dow Jones Islamic Titans Index. This Fund invests in the HSBC Amanah Global Equity Index Fund, which in turn invests in approximately 100 companies from around the world engaged in Shariah compliant activities. The Fund will invest in companies which meet a set of Islamic investment principles as laid down by the HSBC Shariah Supervisory Committee. The Fund aims to offer investors the opportunity to grow their money in line with the performance of the Dow Jones Islamic Titans Index. No, it's remaining "The Fund invests in the Baillie Gifford European Fund, a collective investment scheme managed by Baillie Gifford & Co Limited. This Fund invests in European equities with the aim of achieving capital growth. The objective of the Fund is to outperform its benchmark by 2 3% per annum (before fees) over rolling 3 year periods." No, it's remaining "The objective is to produce attractive capital growth over the long term through investment in Japan in any economic sector, but with the ability also to invest up to (but no more than) 10% in value of the Fund in each of the following investment schemes and deposits."
Balanced No Yes Corporate Bond Deposit ESI Global Emerging Markets Equity European (Ex UK) Equity European Equity Index Tracker be Global Emerging Markets Equity No Yes Yes Objectives? Yes, it's now "A managed fund with the investments spread over all the major areas - equities (UK and foreign), gilts and other fixed interest stocks, property and cash deposits. The objective is to provide steady long-term returns whilst safeguarding the fund against unnecessary risks." No, it's remaining: "This fund primarily invests in Sterling denominated Corporate Bonds. The majority of the portfolio will be invested in securities that are rated as investment grade. The fund aims to provide investment growth by investing in fixed interest securities while also providing some protection against investment loss." No, it's remaining: "A UK fund investing in short-dated money market instruments and cash deposits with leading financial institutions. The aim of the fund is to provide capital protection with growth at short-term interest rates. The fund aims to minimise the risk of investment loss as a result of stock market fluctuations, whilst offering limited opportunity for growth." Yes, it's now "This fund primarily invests in a portfolio of Emerging Market equities and aims to provide long-term capital growth. Volatility should be expected because of the type of investment, the foreign content and exchange rate fluctuations. This Fund invests in emerging markets, which may be subject to additional political and economic risks, low liquidity, poor transparency and greater financial risks compared with some established markets." Yes, it's now "This fund primarily invests in a portfolio of European equities, excluding the UK, and aims to provide long-term capital growth. Volatility should be expected because of the type of investment." Yes, it's now "This fund primarily invests in a portfolio of European equities, excluding the UK, and aims to provide long-term capital growth. Volatility should be expected because of the type of investment."
Global Equity Global Equity (ex UK) Index Tracker FWv2 Global Equity Index Tracker Global Equity Index Tracker v2 Objectives? No, it's remaining ""This Fund aims to offer investors the opportunity to grow their money by investing in the world s major stock markets. This Fund seeks to invest in a wide range of companies from around the world using an investment process called MERIT (Multi-Factor Enhanced Return Technique). This investment process seeks to invest in a wide range of companies that combine both attractive valuations and positive corporate earnings and price momentum signals. This process involves assessing a number of financial measures for each company to identify which companies look cheap (or undervalued) relative to their peer companies. s in company shares (also known as equities) generally carry a higher investment (or capital) risk than cash, fixed interest or property investments." Yes, it's now "The fund primarily invests in a wide range of Global equities (excluding the UK), held via both collective vehicles and direct equities. The fund aims to provide long-term capital growth. The fund aims to provide long-term growth by investing in overseas equity markets, however this fund is subject to exchange rate fluctuations, has a higher risk of investment loss and could be especially volatile in the short-term." Yes, it's now "The fund primarily invests in a wide range of UK & Global equities, held via both collective vehicles and direct equities. The fund aims to provide long-term capital growth. The fund aims to provide long-term growth by investing in UK and overseas equity markets, however this fund has a higher risk of investment loss, and could be especially volatile in the short-term. The target allocation between the various regions in which the Fund invests is: 50% UK; 30% North America; 10% Europe (ex-uk); 6% Japan; and 4% Pacific (ex-japan)." Yes, it's now "The fund primarily invests in a wide range of UK & Global equities, held via both collective vehicles and direct equities. The fund aims to provide long-term capital growth. The fund aims to provide long-term growth by investing in UK and overseas equity markets, however this fund has a higher risk of investment loss, and could be especially volatile in the short-term. The target allocation between the various regions in which the Fund invests is: 50% UK; 30% North America; 10% Europe (ex-uk); 6% Japan; and 4% Pacific (ex-japan)."
Global Equity IT (Fixed Weights) Global Property Global Socially Responsible Japanese Equity Index Tracker Objectives? Yes, it's now "The fund primarily invests in a wide range of Global equities (excluding the UK), held via both collective vehicles and direct equities. The fund aims to provide long-term capital growth. The fund aims to provide long-term growth by investing in overseas equity markets, however this fund is subject to exchange rate fluctuations, has a higher risk of investment loss and could be especially volatile in the short-term." No, it's remaining "This Fund aims to provide long-term growth by investing globally in a range of funds that either predominantly invest directly in properties or the shares of property companies. This Fund invests in the HSBC Global Property Open Ended Company (OEIC) and may also hold relatively small sums of cash. The HSBC Global Property OEIC will predominately invest in the shares of property companies and other funds that in turn invest directly or indirectly in property, unlisted property and listed property company shares. The HSBC Global Property OEIC may also invest in other transferable securities, money market instruments, deposits, cash and near cash, and may use derivatives for the purposes of hedging and tactical asset allocation." No, it's remaining "This Fund aims to offer investors the opportunity to grow their money by investing in shares of companies from around the world that are considered to demonstrate a commitment to long-term economic growth without comprising society or the environment. This Fund invests in the L&G Ethical Global Equity Index fund. This Fund employs an index tracking strategy and aims to match the performance of the index that measures the performance of companies utilising globally recognised Environmental, Social and Governance (ESG) standards taking account of ESG risk levels, to within +/- 0.5% per year fro two years out of three. The Fund is aimed at investors who wish to take account of ethical, environmental or social principles." Yes, it's now "This fund primarily invests in a portfolio of Japanese equities and aims to provide long-term capital growth. Volatility should be expected because of the type of investment, the foreign content and exchange rate fluctuations."
JP Morgan Diversified Growth JP Morgan Emerging Markets JP Morgan Global Dynamic JP Morgan UK Specialist Equity Objectives? No, it's remaining "The JPMorgan Life Diversified Growth Fund is a pooled life fund for pension schemes. The Fund aims to maximise long-term capital growth for clients by investing directly in a diversified mix of asset classes including global equities, property, absolute return funds, high yield bonds, private equity and commodities. The Fund may also hold derivatives. The Fund is well diversified and, under normal circumstances, is fully invested, with cash holdings kept to a minimum." No, it's remaining "The JPMorgan Life AllEmerging Markets Equity Fund (the Fund ) is a pooled life fund for pension schemes investing primarily in emerging markets equities and may have exposure to smaller companies on an ancillary basis, either directly or through other funds. The Fund is well diversified and under normal circumstances, is fully invested, with cash holdings kept to a minimum. Normally the Fund only invests in the JPM Emerging Markets Fund, a UK authorised openended investment company.target excess return over 3 years: 3% per annum (gross of fees). Target tracking error: Longterm average of 4%+." No, it's remaining "The JPMorgan Life Global Dynamic Fund (the Fund ) is a pooled life fund for pension schemes investing primarily in global equities. The Fund seeks to achieve excess return through style analysis and stock selection. The Fund is well diversified, typically holding 200300 stock positions and under normal circumstances, is fully invested. Target excess return over 3 years: 3% per annum (gross of fees).target tracking error: Long-term average of 4%-7%." No, it's remaining "The JPM Life UK Specialist Equity fund aims to achieve capital growth by investing in the shares of UK companies. Its target is to outperform index that represents UK companies on the London Stock Exchange by 2% a year over 3 years before fees are taken into account. The fund looks to spread investment risk by investing in a wide range of UK companies in different sectors of the market. The investment team focuses on stocks that have specific growth ± and value ± characteristics as experience has shown that holding both growth and value stocks in a portfolio can lead to more consistent outperformance over the longer term."
JP Morgan US Equity M&G Corporate Bond Money Market Newton 50/50 Global Equity Objectives? No, it's remaining "The JPMorgan Life US Equity Fund (the Fund ) is a pooled life fund for pension schemes investing primarily in US equities, either directly or through other funds. The Fund seeks to achieve excess return through stock selection. Normally the Fund only invests in equities issued by companies that are listed, and primarily traded, in the USA. The Fund is well diversified and under normal circumstances, is fully invested, with cash holdings kept to a minimum.target excess return over a full market cycle: 35 years: 2% per annum (gross of fees).target tracking error: Longterm average of 3%-6%." No, it's remaining "The M&G Corporate Bond fund invests mainly in sterling denominated 'investment grade' debt (BBB and above). The fund manager aims to identify corporate bonds that offer sufficient compensation for the risks of owning them. Typically this will involve an emphasis on A and BBB rated credits, although this may not always be the case. The fund's exposure to corporate debt may be gained through the use of derivatives. Default risk is constantly monitored and always well diversified. The fund focuses on proprietary research using our extensive credit resources, rather than on external research, as ratings agencies can be slow to revise their credit ratings and do not assess the effect of event risk on a company." Yes, it's now "A UK fund investing in short-dated money market instruments and cash deposits with leading financial institutions. The aim of the fund is to provide capital protection with growth at short-term interest rates. The fund aims to minimise the risk of investment loss as a result of stock market fluctuations, whilst offering limited opportunity for growth." No, it's remaining "The objective of the Sub-Fund is to invest in a broad spread of UK and international securities to achieve income and capital growth over the longer term. The Sub-Fund will be managed to a benchmark of approximately 50% UK equities and 50% international equities. The Sub-Fund may also invest in collective investment schemes."
Newton Global Balanced Newton Index Linked Gilt Newton International Bond North American Equity Index Tracker Pacific (ex Japan) Equity Pacific (ex Japan) Equity Index Tracker No Yes Objectives? No, it's remaining "The objective of the Sub-Fund is to maximise returns by investing predominantly in a worldwide portfolio of equities and fixed interest securities. The Sub-Fund may also invest in derivative instruments, forward transactions and collective investment schemes (including but not limited to another Sub-Fund or Sub- Funds of the Company)." No, it's remaining "The objective of the Sub-Fund is to maximise returns by investment in a portfolio of predominantly sterling index linked gilts. The Sub-Fund may also invest in collective investment schemes (including but not limited to another Sub-Fund or Sub-Funds of the Company). Derivatives may be used for efficient portfolio management only." No, it's remaining "The objective of the Sub-Fund is to maximise the total return from income and capital growth in the world bond markets through investment predominantly in Government and other public securities. The Sub-Fund may also invest in deposits, derivative instruments, forward transactions and collective investment schemes (including but not limited to another Sub-Fund or Sub-Funds of the Company). Derivatives may be used for investment purposes as well as for efficient portfolio management." Yes, it's now "This fund primarily invests in a portfolio of North American equities and aims to provide long-term capital growth. Volatility should be expected because of the type of investment, the foreign content and exchange rate fluctuations." Yes, it's now "This fund primarily invests in a portfolio of Pacific (excluding Japan) equities and aims to provide long-term capital growth. Volatility should be expected because of the type of investment." Yes, it's now "This fund primarily invests in a portfolio of Pacific (excluding Japan) equities and aims to provide long-term capital growth. Volatility should be expected because of the type of investment."
Property UK Aggregate Fixed Interest UK and Global Equity Tracker Pen UK Corporate Bond (All Stocks) UK Equity No Yes Objectives? No, it's remaining "This Fund offers investors the opportunity to invest in a range of UK commercial and industrial properties. This Fund invests in the Aviva Investors Pension Limited Property Fund, which aims to outperform the AREF/IPD All Balanced Property Fund index by 1% pa (before charges) over rolling three year periods. The AREF/IPD All Balanced Property Fund Index measures the performance of group property funds. This Fund invests in UK commercial properties across all major sectors (offices, industrial and retail). Active property management opportunities are undertaken whenever possible to enhance the values of properties owned by the Fund. The Fund undertakes limited property development when it is appropriate to do so. The Fund may at times have significant levels of cash in advance of purchasing or following the sales of property, which may lead to lower than expected returns." No, it's remaining "This Fund aims to provide a total return that is consistent with investing in long dated UK government bonds (gilts) and sterling denominated corporate bonds. This Fund is a fund of funds investing in the following HSBC Life (UK) Limited Corporate Pension Funds: 50% in the UK Fixed Interest (Over 15 Years) Index Tracker Fund and 50% in the UK Corporate Bond (Over 10 Years) Fund." No, it's remaining: "The fund primarily invests in a wide range of UK & Global equities, held via both collective vehicles and direct equities. The fund aims to provide longterm capital growth. The fund aims to provide long-term growth by investing in UK and overseas equity markets, however this fund has a higher risk of investment loss, and could be especially volatile in the short-term." Yes, it's now "This fund primarily invests in Sterling denominated Corporate Bonds. The majority of the portfolio will be invested in securities that are rated as investment grade. The fund aims to provide investment growth by investing in fixed interest securities while also providing some protection against investment loss." Yes, it's now "This fund primarily invests in a portfolio of UK equities and aims to provide long-term capital growth. Volatility should be expected because of the type of investment."
UK Fixed Interest No Yes UK Fixed Interest- Over 15 Years UK Freestyle No Yes UK Index Linked Index Tracker Objectives? Yes, it's now "A managed fund primarily investing in high quality, sterling dominated fixed interest stocks. Although the income from fixed interest stocks is fixed, the price of the underlying assets can go down as well as up due to changes in interest rates." No, it's remaining "This Fund aims to provide a total return consistent with investing in UK Government bonds (gilts) that have over 15 years to maturity through direct and indirect investment mainly in gilts with over 15 years to maturity. This Fund invests in UK Government bonds (gilts) and seeks to match the performance of the index that consists of securities with over 15-year maturity of all conventional British Government gilts quoted on the London Stock Exchange by holding all the bonds (gilts) in the Index. It does this either directly (through buying and holding the bonds) or indirectly (through the use of futures contracts, which provides the Fund with exposure to the bonds without the need to buy them)." Yes, it's now "This fund primarily invests in a portfolio of UK equities and aims to provide long-term capital growth. Volatility should be expected because of the type of investment." No, it's remaining "This Fund aims to track the performance of the index that tracks the performance of index-linked bonds which are issued by the UK Government (known as gilts), to within +/- 0.25% per year for two years in three. This Fund invests in the Legal & General All Stocks Index-Linked Gilts Index Fund. This Fund employs an index tracking strategy and aims to match the performance of the index that tracks the performance of index-linked bonds issued by the UK Government. The prices of the bonds in which the Fund invests, and ultimately the value of the Fund itself, will be affected by a wide range of economic and market factors and as a result of which you may get back less than the amount you invested."
UK Smaller Companies UK Tracker Objectives? No, it's remaining "This Fund aims to achieve long-term capital growth for investors. This Fund invests in the BlackRock UK Smaller Companies Fund, which invests primarily in the shares of smaller companies incorporated or listed in the UK which BlackRock consider to have above-average growth prospects. s in company shares (also known as equities) generally carry higher investment (or capital) risk than money market, fixed interest or property investments." Yes, it's now "This fund primarily invests in a portfolio of UK equities and aims to provide long-term capital growth. Volatility should be expected because of the type of investment." These changes won t affect the risk profile of your funds or increase charges.