INVESTMENT BULLETIN (PERFORMANCE INFORMATION ON SWIS AND CM FUNDS) June 2018
MARKET INDICES Indices FTSE 100 TR 12.35 0.2 3.8 16.9 8.7 FTSE All Share TR 13.12 2.6 2.2 18.1 9.0 FTSE All World ex UK TR GBP 9.41 11.1 14.8 23.4 9.5 Halifax Property Seasonally Adjusted 9.37 8.8 8.4 0.8 3.3 UK Consumer Price Index 1.9 0.0 0.4 2.7 2.4 UK Retail Price Index 2.6 1.0 1.6 3.5 3.4 Source: FE Analytics. *Percentage change: Bid to Bid. Income has been re-invested. Please note: figures in brackets denote negative returns. Market index returns are based on closing levels and have gross income re-invested. Past performance is not a guide to future performance. The value of investments and income from them can go up and down and you can get back less than invested. You cannot invest directly into an index. 1
PENSIONS PERFORMANCE Fund Launch Date Acc. Unit Fund Size Absolute Return 2.7 2.1 1.6 (2.4) 1.2 (0.9) 3.2 Adventurous 186.1 10.7 6.0 3.7 21.4 8.0 6.5 Balanced 3059.3 10.1 5.3 2.9 15.8 6.7 8.2 Balanced FoF 37.6 7.5 3.2 0.9 9.0 1.5 5.0 Cash 237.9 (0.5) (0.5) (0.4) 0.0 0.0 4.2 Cautious 288.6 9.4 4.2 1.6 10.5 5.3 6.2 Corporate Bond 8.9 7.0 4.1 6.7 6.3 0.5 6.4 Defensive 9.5 9.1 6.4 5.7 7.5 5.3 7.5 Dynamic Return 13.5 11.2 2.4 (6.6) 9.7 1.5 3.9 Dynamic Return G 1.9 11.2 2.4 (6.6) 9.8 1.5 0.3 Ethical 74.4 7.7 9.5 5.4 22.2 6.9 5.1 European 197 15.1 3.1 2.7 33.0 1.5 9.7 Evergreen** 21.7 7.7 9.5 5.4 22.2 6.9 5.9 Far Eastern 100.9 3.1 6.5 4.7 32.4 7.2 8.9 Fidelity American 13.8 10.4 12.2 8.9 20.9 8.8 8.8 Fidelity Defensive Managed 7.3 7.7 6.8 4.0 9.2 1.0 5.7 Fidelity European 38.9 8.5 6.0 5.0 25.1 6.1 8.1 Fidelity Extra Income 3.8 9.0 3.1 3.6 8.0 (0.1) 5.3 Fidelity MoneyBuilder Growth 6 10.8 11.1 (5.3) 15.0 4.2 7.0 Fidelity MoneyBuilder Income 11.6 6.0 5.3 6.5 4.6 (0.6) 4.7 Fidelity South East Asia 10.3 2.3 14.6 8.0 30.6 12.9 9.9 Fidelity Wealthbuilder 10.3 8.1 10.2 4.4 21.1 4.9 7.7 Fidelity Worldwide Special Situations 15.4 9.1 14.4 0.5 29.8 7.9 9.3 Gilt & Fixed Interest 108 3.8 5.0 7.6 3.0 0.1 6.4 Global Equity Tracker 11.3 10.8 5.4 3.7 22.1 7.7 7.8 Halifax 39.8 (0.6) (0.7) (0.8) 0.0 0.0 2.0 International Fixed Income 0.7 (6.4) (0.6) 28.5 (1.6) (0.5) 3.2 International Growth 83.9 6.4 8.1 9.7 23.5 9.1 6.8 Invesco Perp Corporate Bond 27.2 7.4 1.9 3.3 5.9 (0.2) 5.1 Invesco Perp Distribution 28.1 8.9 2.1 0.2 11.3 (0.7) 6.9 Invesco Perp Emerging Countries 27.9 3.8 2.5 7.4 27.5 3.3 10.4 Invesco Perp Global Bond 4.5 (4.5) 1.5 11.1 4.3 (2.1) 4.5 Invesco Perp Global Smaller Cos 3.2 10.7 10.6 4.9 31.4 6.9 11.3 Invesco Perp High Income 157 13.0 9.1 0.4 13.2 (3.1) 8.8 Invesco Perp Hong Kong and China 32.5 12.0 19.6 0.6 25.9 20.4 14.4 Invesco Perp Monthly Income Plus 23.8 9.2 2.9 (0.5) 11.5 (0.5) 6.9 Invesco Perp UK Aggressive 15.3 21.1 5.9 (11.7) 28.3 6.9 9.1 Japanese 26.6 (3.1) 16.6 6.1 24.0 6.2 2.6 CM Boston Co US Opportunities 18.2 14.0 17.5 2.9 26.5 14.8 8.5 Newton Balanced 104.8 5.0 4.9 9.3 8.5 2.4 7.3 Newton Continental European 14.4 13.3 4.0 10.3 21.1 4.6 8.1 Newton Global Income 7.9 5.5 4.7 27.6 15.3 3.5 9.1 Newton UK Income 14.2 10.9 4.1 12.2 8.1 4.6 6.8 Newton UK Equity 32.5 6.6 14.8 5.1 12.3 5.8 8.0 Newton International Bond 6.9 (6.7) (1.2) 27.3 0.5 (1.1) 4.7 Newton Global Equity 26.9 6.8 11.7 12.6 17.1 6.9 8.2 CM Newton Multi-Asset Growth 108.1 9.4 11.4 12.7 10.7 8.1 8.0 Newton Oriental 26 (4.8) (2.6) 9.6 29.3 17.3 11.6 C.A.R.* ACR (Since Launch) 2
Acc. Unit C.A.R.* Fund Launch Date Fund Size Newton Multi-Asset Diversified Return 7.2 6.4 4.3 (0.1) 15.4 0.8 4.6 Non Equity 92.9 6.9 6.7 5.4 3.9 2.2 4.6 North American 168.5 10.9 15.5 16.7 22.6 12.3 11.7 Retirement Protection 64.5 4.3 14.0 21.5 (1.7) 3.8 6.7 Schroder Corporate Bond 5.7 7.1 4.1 7.4 7.8 1.7 4.7 Schroder European Alpha 12.1 3.9 2.6 0.9 36.2 4.4 8.6 Schroder Gilt & Fixed Interest 5.9 0.9 7.1 11.5 (1.3) 1.0 3.8 Schroder Global Climate Change 1.3 7.3 6.0 11.5 22.0 6.5 7.5 Schroder Global Equity 6.5 8.9 9.0 11.7 22.0 6.7 9.0 Schroder Global Property Securities 2.3 (0.2) 6.0 23.3 5.7 4.9 6.5 Schroder Income 8.1 13.7 5.5 (5.7) 21.0 13.9 9.0 Schroder Managed Balanced 37.6 8.2 4.8 2.3 16.7 4.6 7.7 Schroder Monthly High Income 5.1 13.8 2.9 4.8 13.7 2.5 6.8 Schroder kyo 7.4 (1.7) 19.9 3.1 25.9 8.3 7.0 Schroder UK Mid 250 81.6 17.5 9.6 (15.6) 25.9 12.2 9.0 Schroder UK Smaller Cos 10.1 16.3 11.1 (4.5) 40.9 9.3 10.4 Schroder US Small & Mid Cap 4.4 9.8 20.0 16.5 22.8 4.9 12.8 Smaller Companies 37.6 15.5 9.6 (9.4) 29.6 20.1 6.5 Special Situations 0.8 5.0 (0.6) (2.1) 18.4 7.7 9.1 Target Return 18 8.1 1.8 (3.3) 5.4 0.2 1.2 UBS Global Allocation 8.8 8.0 6.4 (1.0) 17.5 5.6 6.4 UBS Global Growth 3.5 12.0 6.6 1.1 29.0 11.0 6.9 UBS UK Opportunities 5.7 14.7 2.1 (4.9) 31.3 10.1 6.0 CM UK Smaller Companies 4.5 15.9 10.6 (10.1) 29.3 18.6 5.9 UBS US Equity 16.9 11.6 18.6 6.4 29.7 8.7 9.2 UK Alpha FoF 5.9 13.4 5.2 (4.0) 21.7 7.0 7.8 UK Equity FoF 6.7 13.4 5.2 (4.0) 21.6 7.1 7.5 UK Equity Income 55.2 10.6 2.2 (2.0) 20.4 8.7 7.5 UK Equity Tracker 81.5 11.5 2.3 (1.3) 20.0 7.9 4.4 UK Gilt 1.4 1.4 6.4 11.5 (1.5) 1.2 3.8 UK Growth 533.3 12.3 2.4 (1.3) 19.8 9.9 8.5 UK Index Linked Gilt 59.3 2.3 11.6 14.2 5.4 1.6 7.0 UK Property 344.2 13.8 12.2 6.2 4.1 8.3 6.7 With Profits Regular 0 4.0 4.0 4.0 4.0 4.0 6.3 With Profits Single 0 4.0 4.0 4.0 4.0 4.0 6.2 ACR (Since Launch) Source: FE Analytics. *Percentage change: Bid to Bid. C.A.R. (Compound Annual Return): Offer to Bid. Income has been re-invested. Where the fund is less than one year old performance is not shown. Please note: figures in brackets denote negative returns. There may be restrictions on the availability of funds to particular products. For further information please refer to the relevant product literature. Market index returns are based on closing levels and have gross income re-invested. ** (closed) = no longer open to new business. Past performance is not a guide to future performance. The value of investments and income from them can go up and down and you can get back less than invested. The performance of your Clerical Medical fund shown above will not necessarily match that of the underlying manager s fund due to our different fund charges, tax adjustments (if required) and our investment process. 3
LIFE PERFORMANCE Fund Launch Date Acc. Unit Fund Size Absolute Return 6.1 1.3 0.9 (2.2) 0.6 (1.1) 2.3 Adventurous 18.3 9.0 5.4 3.9 18.1 7.6 7.0 Balanced 370.3 8.4 4.7 3.2 13.5 6.3 7.1 Balanced FoF 8.7 8.0 3.2 0.8 8.9 1.5 4.6 Cash 28.1 (0.6) (0.5) (0.5) 0.0 0.1 3.3 Cautious 77.6 7.7 3.7 1.4 9.9 4.7 4.0 Corporate Bond 10.2 5.3 3.2 5.3 4.6 0.2 5.0 Distribution Acc** 543.5 5.2 3.6 3.7 7.6 2.7 5.0 Distribution Inc** 543.5 5.2 3.5 0.8 4.6 1.4 4.7 Distribution S2 Acc 543.5 5.9 4.2 4.3 8.2 3.3 4.5 Distribution S2 Inc 543.5 5.9 4.1 1.4 5.3 1.9 4.2 Dynamic Return G 0.3 11.1 2.3 (6.8) 9.6 1.3 0.3 Dynamic Return 1.6 11.1 2.3 (6.8) 9.7 1.4 3.1 Ethical 9.2 8.8 9.5 5.3 18.7 6.4 6.4 European 29.8 12.5 3.3 3.0 28.1 2.3 8.8 Evergreen 2.2 6.4 8.5 5.5 19.3 6.6 5.0 Far Eastern 10.2 2.9 6.5 4.6 27.3 7.4 9.6 Fidelity American 4.5 9.0 10.5 8.0 18.2 8.2 7.7 Fidelity Defensive Managed 13.7 6.3 5.6 3.5 7.6 0.8 4.7 Fidelity European 7.4 9.1 6.0 5.0 21.3 5.9 7.5 Fidelity Extra Income 5.7 7.0 2.4 2.8 6.2 (0.1) 4.2 Fidelity MoneyBuilder Growth 2.8 9.1 9.5 (4.0) 14.0 4.3 6.4 Fidelity MoneyBuilder Income 14.6 4.6 4.2 5.0 3.6 (0.6) 3.6 Fidelity South East Asia 5.5 2.0 12.8 6.6 25.9 11.8 8.4 Fidelity Wealthbuilder 4.3 7.0 8.6 4.9 17.9 4.9 6.8 Fidelity Worldwide Special Situations 5.5 8.0 12.4 1.1 25.5 7.4 8.4 Gilt & Fixed Interest 29.3 2.5 3.7 6.0 2.2 (0.1) 5.1 International Fixed Income 1.1 (5.4) (0.5) 22.0 (1.7) (0.6) 2.3 International Growth 21.3 5.5 7.3 9.1 20.3 8.6 7.2 Invesco Perp Corporate Bond 23.8 5.8 1.4 2.5 4.6 (0.2) 4.0 Invesco Perp Distribution 47.6 6.9 1.6 0.3 8.8 (0.6) 5.5 Invesco Perp Emerging Countries 6.7 3.4 2.6 6.4 22.9 3.9 9.1 Invesco Perp Global Bond 4.6 (3.9) 1.1 8.8 3.4 (1.7) 3.5 Invesco Perp Global Smaller Cos 3.7 9.1 9.1 5.0 26.7 6.5 9.9 Invesco Perp High Income 60.2 11.6 8.3 1.3 11.8 (2.3) 8.2 Invesco Perp Hong Kong and China 4.3 10.1 17.5 1.2 22.1 18.5 12.7 Invesco Perp Monthly Income Plus 18.2 7.2 2.2 (0.4) 9.0 (0.5) 5.5 Invesco Perp UK Aggressive 3.1 17.5 5.5 (9.9) 25.3 6.8 8.2 Japanese 5.8 (3.9) 16.7 5.8 20.5 5.9 4.2 Managed Income Acc 14.7 9.4 4.9 (0.1) 13.2 2.7 3.8 Managed Income Inc 14.7 9.5 4.9 (3.2) 9.5 1.1 3.6 CM Boston Co US Opportunities 18.2 14.0 17.5 2.9 26.5 14.8 8.5 Newton Multi Asset Balanced 104.8 5.0 4.9 9.3 8.5 2.4 7.3 Newton Continental European 2.1 11.1 3.7 9.5 18.2 4.8 8.2 Newton Global Income 12.5 5.5 4.5 24.4 13.8 4.1 8.4 Newton UK Income 11.1 10.8 4.0 12.2 8.0 4.6 6.6 Newton UK Equity 32.5 6.6 14.8 5.1 12.3 5.8 8.0 Newton International Bond 4.2 (5.5) (0.9) 21.2 0.4 (0.9) 3.8 C.A.R.* ACR (Since Launch) 4
Fund Launch Date Acc. Unit Fund Size Newton Global Equity 26.9 6.8 11.7 12.6 17.1 6.9 8.2 Newton Multi Asset Growth 108.1 9.4 11.4 12.7 10.7 8.1 8.0 Newton Oriental 6.9 (6.7) (1.2) 27.3 0.5 (1.1) 4.7 Newton Multi-Asset Diversified Return 8.5 6.3 4.2 (0.2) 14.4 1.4 4.4 Non Equity 187.2 5.4 5.7 4.4 2.9 1.8 5.0 North American 24.3 9.7 13.5 15.9 19.4 11.6 9.5 Schroder Corporate Bond 7.2 5.4 3.4 6.0 6.2 1.4 3.9 Schroder European Alpha 3.2 3.1 2.6 1.3 30.4 4.7 7.6 Schroder Gilt & Fixed Interest 3.4 0.5 5.6 9.0 (1.3) 0.8 2.9 Schroder QEP Global Core 0.8 6.2 5.3 10.7 18.9 6.4 6.6 Schroder Global Property Securities 2.8 (0.6) 5.1 20.1 5.2 4.6 5.7 Schroder Global Equity 3.6 7.9 7.8 10.7 18.9 6.4 7.8 Schroder Income 11.7 12.2 5.1 (3.5) 18.1 13.4 8.4 Schroder Managed Balanced 15.4 6.6 4.4 2.0 14.0 4.2 6.7 Schroder Monthly High Income 6 10.8 2.5 3.8 10.9 2.0 5.7 Schroder kyo 3.3 (1.0) 17.0 2.3 22.6 7.5 6.1 Schroder UK Mid 250 14.3 14.3 8.0 (12.7) 21.9 10.9 8.2 Schroder UK Smaller Cos 4.4 16.0 6.7 (3.1) 34.2 8.3 8.6 Schroder US Small & Mid Cap 3.7 8.6 16.7 14.9 19.5 5.0 11.2 Smaller Companies 5.1 13.8 8.4 (7.3) 26.0 17.8 8.7 Special Situations 0.6 4.4 (0.4) (2.1) 17.8 7.3 8.2 Target Return 10.3 7.8 1.6 (3.5) 5.4 (0.1) 0.9 UBS Global Allocation 5.3 7.2 5.6 (0.5) 15.2 5.4 6.3 UBS Global Growth 1.8 10.3 5.7 1.3 24.5 9.8 6.6 CM UBS UK Opportunities 4.1 15.4 2.0 (5.0) 30.0 9.4 6.4 CM UK Smaller Companies 0.6 15.1 10.3 (10.2) 29.0 18.2 5.3 UBS US Equity 3.4 9.9 15.4 6.3 25.3 8.0 7.7 UK Alpha FoF 0.9 11.4 5.0 (2.9) 19.9 7.2 7.1 UK Equity FoF 2.7 11.5 5.0 (3.0) 19.6 7.2 6.9 UK Equity Income Acc 26.5 9.3 2.5 (1.7) 18.8 8.4 5.3 UK Equity Income Inc 26.5 9.3 2.5 (5.7) 14.1 6.4 5.9 UK Gilt 2.4 0.8 5.0 8.9 (1.4) 0.8 2.9 UK Growth 42.4 10.6 2.4 (0.6) 17.7 9.8 7.2 UK Index Linked Gilt 33.1 1.9 9.1 11.2 4.2 1.0 5.9 UK Property 106.6 11.0 11.7 5.3 3.1 7.2 5.8 With Profits Bond Classic** 0 0.4 1.0 0.9 0.5 0.4 1.7 With Profits Bond S2 0 0.4 0.9 0.8 0.5 0.3 1.1 With Profits Bond Sovereign** 0 0.4 1.0 0.9 0.5 0.4 1.7 With Profits bond** 0 0.4 0.9 0.8 0.5 0.3 1.1 With Profits Flexible 0 0.4 1.0 0.9 0.5 0.4 1.3 With Profits Income 0 2.7 (0.2) 0.0 0.1 1.1 3.3 With Profits Regular 0 2.3 2.3 2.2 2.3 2.2 3.0 C.A.R.* ACR (Since Launch) Source: FE Analytics. *Percentage change: Bid to Bid. C.A.R. (Compound Annual Return): Offer to Bid. Income re-invested net of tax. Where the fund is less than one year old, performance is not shown. ** (closed) = no longer open to new business. Please note: figures in brackets denote negative returns. These funds are only available through the following products: Flexible Growth Bond, Income Bond, Investment Bond (launched 15.01.2001), Investment Bond (launched 03.10.2005) and Flexible Bond. These funds are available through the Distribution Bond and the Investment Bond (launched 03.10.2005). This fund is only available through the With-Profits Bond. Past performance is not a guide to future performance. The value of investments and income from them can go up and down and you can get back less than invested. The performance of your Clerical Medical fund shown above will not necessarily match that of the underlying manager s fund due to our different fund charges, tax adjustments (if required) and our investment process. 5
Scottish Widows Limited. Registered in England and Wales No. 3196171. Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 181655. X640 06/18