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Scottish Widows Pension Funds Investment Approaches

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Scottish Widows Pension Funds Investment Approaches Document info Form 16540 Job ID 021053 Size a4 Pages 44pp Colour cmyk Version MAR 11 Operator info 1 cm 22/3/11 2 OP 29/03/11 3 SP 08 04 11 4 JR 4/5/11 5 JR 5/5/11 6 JR 10/5/11 7 SP 19 05 11 8 9 Scottish Widows 10 11 12 13 Pension Funds 14 15 Investor ’s Guide Contents Introduction to the Scottish Widows Pension Fund Range 1 Section 1 – Funds available Scottish Widows internally managed pension funds 2 Scottish Widows externally managed pension funds 4 Section 2 – Fund investment approaches Details on fund investment approaches 13 Section 3 – Fund information Details of the fund aims and important information 16 Section 4 – Fund access A list of the Scottish Widows products with access 38 to the funds referred to in this guide Introduction to the Scottish Widows 1 Pension Fund Range With a comprehensive range of funds from ready-made investment portfolios to specialist 2 funds, Scottish Widows has a wide choice of funds to match different investment needs. 4 (For a full list of the Scottish Widows products with access to these funds, please refer to pages 38 –41 of this guide.) To make it easier to find the right fund for you, our range 13 is grouped into the following categories: 16 1. Scottish Widows internally 2. Scottish Widows externally managed pension funds managed pension funds Established in 2000, Scottish Widows Investment Covering a wide range of asset classes, 38 Partnership (SWIP) manages a range of core geographical locations, sectors and management pension funds. With £145.39 billion (as at styles, our externally managed pension funds 31 March 2011) under management, SWIP is one provide all the basic building blocks to create of Europe’s largest asset management companies bespoke investment portfolios. and part of Lloyds Banking Group. Source: SWIP, March 2011. 1 Scottish Widows internally managed pension funds Scottish Widows Investment Partnership (SWIP) is one of Europe’s largest asset management companies and part of the Lloyds Banking Group plc. Managing funds worth £145.39 billion (as at 31 March 2011 ), for a wide range of UK and international clients including individual investors, investment trusts, charities, financial institutions, corporate and local government pension funds. SWIP is owned by parent company Lloyds Banking Group, one of the UK’s leading financial services groups. SWIP invests in all major asset classes – including domestic and overseas equities, property, bonds and cash. In addition, it offers access to specialist areas such as multi-manager, smaller companies and socially responsible investment. Under its own name and in partnership with local organisations, it has a presence that stretches from the United States to the Far East and includes continental Europe. This international dimension heightens its awareness of global investment issues and enhances its ability to manage client relationships on a global basis. Source: SWIP, March 2011. Funds available ABI classification sector Fund short code Scottish Widows Adventurous Solution Fund Specialist AD Scottish Widows Balanced Portfolio Fund Specialist FX Scottish Widows Balanced Solution Fund Specialist BA Scottish Widows Cash Fund Money Market CA Scottish Widows Cautious Managed Fund Mixed Investment 20% - 60% Shares CM Scottish Widows Cautious Portfolio Fund Specialist FW Scottish Widows Cautious Solution Fund Specialist CS Scottish Widows Consensus Fund Mixed Investment 40% - 85% Shares CN Scottish Widows Corporate Bond Fund Sterling Corporate Bond CB Scottish Widows Defensive Managed Fund Mixed Investment 0% - 35% Shares DM Scottish Widows Defensive Solution Fund Specialist DS Scottish Widows Discovery Solution Fund Specialist DI Scottish Widows Diversified Assets Fund Mixed Investment 20% - 60% Shares DV Scottish Widows Dynamic Property Fund Global Property DP Scottish Widows Dynamic Solution Fund Specialist DY Scottish Widows Emerging Markets Fund Global Emerging Markets Equities EM Scottish Widows Environmental Fund UK All Companies EN 2 Scottish Widows internally managed pension funds (continued) Funds available ABI classification sector Fund short code Scottish Widows Ethical Fund UK All Companies EF Scottish Widows European Fund Europe excluding UK Equities EE part Scottish Widows European Real Estate Fund Global Property RE ge Scottish Widows Fixed Interest Fund UK Gilts FI corporate K’s leading Scottish Widows Global Equity Fund Global Equities GL Scottish Widows High Income Bond Fund Sterling High Yield HY n addition, Scottish Widows Indexed Stock Fund UK Index-Linked Gilts IS nt. Scottish Widows International Fund Global Equities IN d States Scottish Widows Japanese Fund Japan Equities JE vestment Scottish Widows Mixed Fund Mixed Investment 40% - 85% Shares MX Scottish Widows Multi-Manager Diversity Fund Mixed Investment 20% - 60% Shares MD Scottish Widows Multi-Manager Global Real Estate Fund Global Property MR short code Scottish Widows Multi-Manager International Equity Fund Global Equities ME AD Scottish Widows Multi-Manager Select Boutiques Fund Mixed Investment 60% - 100% Shares MS FX Scottish Widows Multi-Manager UK Equity Focus Fund UK All Companies MF BA Scottish Widows Multi-Manager UK Equity Growth Fund UK All Companies MP CA Scottish Widows Multi-Manager UK Equity Income Fund UK Equity Income MU CM Scottish Widows North American Fund North America Equities US FW Scottish Widows Opportunities Portfolio Fund Global Equities FZ CS Scottish Widows Pension Protector Fund Sterling Long Bond PF CN Scottish Widows Progressive Portfolio Fund Specialist FY CB Scottish Widows Property Fund UK Direct Property PY DM Scottish Widows SafetyPlus ® Fund Protected/Guaranteed FA DS Scottish Widows Specialist Global Equity Pension Fund Specialist GI DI Scottish Widows Strategic Income Bond Fund Sterling Strategic Bond SI DV Scottish Widows Strategic Solution Fund Specialist SS DP Scottish Widows UK All Share Tracker Fund UK All Companies AS DY Scottish Widows UK Equity Fund UK All Companies EQ EM Scottish Widows UK Fixed Interest Tracker Fund UK Gilts LG EN Scottish Widows UK Opportunities Fund UK All Companies OP Scottish Widows UK Real Estate Fund UK Property Securities PR Scottish Widows Unitised With-Profits Fund Unclassified n/a Please see pages 38–41 for more details on the funds available for each of our products. 3 Scottish Widows externally managed pension funds For investors who aim to enhance returns by accessing a particular investment style, we offer a broad range of externally managed funds from well-respected external fund managers. The range includes balanced managed funds, for investors who may prefer a ready-made investment portfolio, and a large number of specialist funds suitable for investors with specific investment requirements. Not all funds are available to all products; please see pages 38–41 for more details on the funds available for each of our products. The manager Independent and owner-managed, Artemis was established in 1997 by four founders who have since been joined by 14 other dedicated fund managers. They all share the same flair and enthusiasm for fund management. Since the launch of the first funds in 1998, the company's success has meant it now manages an asset base of some £11.1 billion (as at 31 December 2010) and has become one of the leading fund management groups in the UK. Clients' investments are spread across a range of unit trusts, an investment trust, hedge fund products, a venture capital trust, an international SICAV as well as segregated and pooled institutional portfolios. The Artemis philosophy requires its fund managers to invest in Artemis funds. This means that its fund managers' interests are directly aligned with its investors. Source: Artemis Investment Management LLP, February 2011. Funds available ABI classification sector Fund short code SW Artemis UK Growth Fund UK All Companies RA SW Artemis UK Smaller Companies Fund UK Smaller Companies RB 4 externally The manager r investors rs with Baillie Gifford is a global, independent investment management firm with £72.4 billion under management and advice (as at 31 December 2010). It manages investments globally for pension funds, institutions, charities and retail investors. Bailie Gifford is wholly owned by its 35 working partners. The partnership structure enables it to recruit and retain some able of the best people in the industry and to focus entirely on investment management as their core business. Baillie Gifford is an active fund manager. The firm has a highly analytical, research-driven approach and it builds portfolios from the bottom up. At the individual company level Baillie Gifford seeks to invest in companies with strong prospects for growth. Source: Baillie Gifford, February 2011. Funds available ABI classification sector Fund short code SW Baillie Gifford Japanese Equity Fund Japan Equities CR SW Baillie Gifford Managed Fund Mixed Investment 60% - 100% Shares CJ ned SW Baillie Gifford North American Equity Fund North America Equities CQ t. SW Baillie Gifford 60:40 Worldwide Equity Fund Global Equities CK ase ups cts, gers' The manager BlackRock is one of the world’s pre-eminent asset management firms and a premier provider of global investment short code management, risk management and advisory services to institutional, intermediary and individual investors around RA the world. RB Its clients can access its investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading
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