SL Global Managed Equity Core Plus (Fidelity International) - November 2013
As part of our ongoing review process, our Investment Advisory Committee (IAC) identified that the underlying investment has experienced a sustained period of underperformance.
The IAC concluded that they no longer had confidence in the manager's investment process and ability to deliver strong future performance.
We have decided to close this fund and transfer the assets to the SL Global Blend Core Plus (Rathbone Global Alpha) pension fund, a new fund managed by Rathbone Unit Trust Management. This is a fund created exclusively for Scottish Life.
We have issued letters to all our customers invested in the SL Global Managed Equity Core Plus (Fidelity International) pension fund detailing the change and what this means for your investment.
We feel the new fund has the following benefits:
- Unique investment solution - a new fund from Rathbones exclusively for Scottish Life customers. We are utilising their significant resource, unique investment process and expertise in fund of funds to create a global fund focussed on delivering performance within a tightly governed risk framework.
- Heavyweight strategic partnership - By combining an expert in global fund investment with our own expertise in pensions we have created an exciting partnership where delivering on our customers' expectations is the focus.
- Governance is key - With a fund objective and benchmark controlled by our Investment Advisory Committee combined with extensive, transparent reporting and direct access to Rathbones' management, our customers can rest assured their fund is being looked after.
You should be mindful that the value of your investment can go down as well as up, which may mean you could get back less than the amount invested.
This change will take place from 11 November 2013