We use cookies to personalise content and ads to deliver the best possible web experience. By continuing to use this site, you agree that we may store and access cookies on your device. You can change your preferences at any time on your browser. For more detail, click here to view our cookie policy.

Generic Links

JULY 2020 SECTOR REVIEW – INTRODUCING RESPONSIBLE INVESTING TO OUR DEFINED FUND RANGES

Further enhancements to our range of funds provides you with the option to invest responsibly.

We have completed the fourth stage of a review of our defined fund ranges. In this step, we have looked at Property, European Bond, Asia Pacific Equity and Commodity & Energy.


As part of this review we have also introduced a range of new funds that will sit under a new RL360 sector entitled "Responsible Investing". Click here for more information on responsible investing.




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 JULY 2020

We're pleased to announce the addition of a number of new funds across the products listed above, which are available for investment from July 2020. These are now featured in the fund guides published from July 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 will be written to in July 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 22 and 25 September 2020. 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.


ADDITIONS - Regular Savings Plan, Oracle, Quantum, Paragon (including Malaysia variants)

We've added 11 new funds to the range (20 including currency variants) to the newly created sector Responsible Investing.


Sector: Responsible Investing


Fund name

Currency options

Morningstar category

Morningstar Star Ratings*

OCF**

Pictet – Global Environmental Opportunities

USD

EUR

CHF

Sector Equity Ecology

5 Star

2.02%

2.02%

2.02%

Ninety One GSF Global Environment

USD

EUR

Sector Equity Ecology

-

1.94%

1.95%

HSBC GIF Global Equity Climate Change

USD

Global Large-Cap Blend Equity

4 Star

1.85%

RobecoSAM Smart Energy

USD

EUR

CHF

Sector Equity Alternative Energy

4 Star

1.84%

1.85%

1.84%

BGF Sustainable Energy

USD

EUR

Sector Equity Alternative Energy

4 Star

1.97%

1.97%

Schroder ISF Global Sustainable Growth

USD

EUR Hdg

Global Large-Cap Growth Equity

3 Star

1.65%

1.68%

Alliance Bernstein Sustainable Global Thematic Portfolio

USD

Global Large-Cap Growth Equity

3 Star

2.00%

RobecoSAM Sustainable Healthy Living

USD

EUR

Global Flex-Cap Equity

4 Star

1.84%

1.84%

RobecoSAM Global Gender Equality Impact Equities

USD

EUR

Global Large-Cap Blend Equity

5 Star

1.78%

1.77%

BMO Responsible Global Equity

GBP

Global Large-Cap Blend Equity

3 Star

1.62%

Sarasin Responsible Global Equity

GBP

Global Large-Cap Growth Equity

2 Star

1.72%





REMOVALS - Regular Savings Plan, Oracle, Quantum, Paragon (including Malaysia variants)

We've removed six funds (11 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: Property


Closing fund

OCF**

Receiving fund

OCF**

Schroder ISF Global Cities Real Estate A Acc USD - LU0224508324

1.84%

Janus Henderson Horizon Global Property Equities A2 USD – LU0209137388

1.88%

Schroder ISF Global Cities Real Estate A Acc EUR Hedged – LU0224509132

1.87%

Janus Henderson Horizon Global Property Equities A2 EUR – LU0088927925

1.89%

VAM International Real Estate Equity B USD – LU0372758754

2.50%

Janus Henderson Horizon Global Property Equities A2 USD - LU0209137388

1.88%


Sector: Asia Pacific Equity


Closing fund

OCF**

Receiving fund

OCF**

BGF Pacific Equity A2 GBP - LU0171290744

1.86%

Matthews Asia - Asia Dividend A Acc GBP – LU0594556309

1.92%

BGF Pacific Equity A2 USD – LU0035112944

1.86%

Matthews Asia - Asia Dividend A Acc USD – LU0491817952

1.83%

BGF Pacific Equity A2 EUR (Read below note) – LU0171290314

1.86%

Matthews Asia - Asia Dividend A Acc USD - LU0491817952

1.83%


Please note that there is no suitable alternative EUR fund to switch into, so you will be switched into the USD share class of the Matthews Asia-Asia Dividend fund; as such, you may be exposed to currency fluctuations on your plan. Please talk to your financial adviser if you have any concerns or wish to discuss the implications for your plan.


Sector: Commodity & Energy


Closing fund

OCF**

Receiving fund

OCF**

Guinness Sustainable Energy C Acc GBP (Read below note) - IE00B3CCJ633

1.99%

RobecoSAM Smart Energy B USD – LU0267919529

1.84%

Guinness Sustainable Energy C Acc USD – IE00B2PGVK34

1.99%

RobecoSAM Smart Energy B USD – LU0267919529

1.84%

Guinness Sustainable Energy C Acc EUR – IE00BGHQF417

1.99%

RobecoSAM Smart Energy B EUR - LU0175571735

1.85%

BNP Paribas Energy Transition CC Acc EUR – LU0823414635

1.95%

RobecoSAM Smart Energy B EUR - LU0175571735

1.85%


Please note that there is no suitable alternative GBP fund to switch into, so you will be switched into the USD share class of the RobecoSAM Smart Energy fund; as such, you may be exposed to currency fluctuations on your plan. Please talk to your financial adviser if you have any concerns or wish to discuss the implications for your plan.


Sector: Equity - Global


Closing fund

OCF**

Receiving fund

OCF**

ASI Global Ethical Equity A Acc - GB0006833718

1.57%

BMO Responsible Global Equity 1 Acc – GB0030833650

1.62%




ADDITIONS - LifePlan

We've added 4 new funds to the range (6 including currency variants) to the newly created sector Responsible Investing.


Sector: Responsible Investing


Closing fund

Currency options

Receiving fund

Morningstar Star Ratings*

OCF**

Schroder ISF Global Sustainable Growth

USD

EUR Hdg

Global Large-Cap Growth Equity

3 Star

1.65%

1.68%

RobecoSAM Sustainable Healthy Living

USD

EUR

Global Flex-Cap Equity

4 Star

1.84%

1.84%

BMO Responsible Global Equity

GBP

Global Large-Cap Blend Equity

3 Star

1.62%

Sarasin Responsible Global Equity

GBP

Global Large-Cap Growth Equity

2 Star

1.72%





REMOVALS - LifePlan

We've removed one fund (including currency variants) that no longer satisfies the requirements of the range. This fund is 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 fund and the receiving fund we will automatically switch plan owners into.


Sector: Equity - Global


Closing fund

OCF**

Receiving fund

OCF**

ASI Global Ethical Equity A Acc - GB0006833718

1.57%

BMO Responsible Global Equity 1 Acc - GB0030833650

1.62%





REMOVALS - Protected Lifestyle

We've removed one fund (including currency variants) that no longer satisfies the requirements of the range. This fund is 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 fund and the receiving fund we will automatically switch plan owners into.


Sector: Equity - Global


Closing fund

OCF**

Receiving fund

Max AMC

ASI Global Ethical Equity A Acc - GB0006833718

1.57%

RL360 GBP Cash Fund

1.00%







Notes:

Information contained within these tables is sourced from Morningstar® and is correct as at 17 June 2020.


* 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.

view our previous sector reviews

Fund guides and forms

Applicable to Regular Savings plan, Oracle, Quantum and Paragon (including Malaysia variants)



Applicable to LifePlan



Applicable to Protected Lifestyle



Sample letters

Applicable to Regular Savings plan, Oracle, Quantum and Paragon (including Malaysia variants)



Applicable to LifePlan