A shift in focus

The £43bn Standard Life With-Profits fund continues to be light on cash and strong on fixed interest but equity weightings have been on the rise over the past year, according to the group. Overall the fund is being positioned somewhat defensively in light of increased volatility in both equity and bond markets, manager of the fund, Euan Munro, head of multi-asset investing at Standard Life Investments, says. The Standard Life fund has seen some rocky times in recent years, having been criticised heavily in the early part of the decade for the stiff exit fees it placed on products linke...