Scottish Widows is launching four multi-manager portfolios this week on the back of its link-up with...
Scottish Widows is launching four multi-manager portfolios this week on the back of its link-up with multi-manager group Frank Russell.
The funds are available through Widows' life and pension products and as unit trusts and Isa vehicles. The Scottish Widows Opportunities Portfolio has 10% in global bonds, 36% in UK equities and 54% in non-UK equities. The global bond element in each of the portfolios is hedged back into sterling. The Progressive Portfolio has 25% in global bonds, 30% in UK equities and 45% in non-UK equities.
Scottish Widows Balanced Portfolio offers a mix of 20% in UK equities, 30% in non-UK equities and 50% in global bonds. Scottish Widows Cautious Portfolio is split between 6% in UK equities, 9% in non-UK equities and 85% in global bonds.
The products offer access to around 60 investment managers, including Schroders, Glasgow Investment Managers, JP Morgan Fleming and Deutsche.
On life and pensions products the multi-manager products incur an extra 0.6% annual management charge. Unit trust and Isa investments in the funds have a 5% initial charge and a maximum 2% annual total expense ratio (TER) for Opportunity, Progressive and Balanced. Intermediary commission is 3% initial and 0.5% renewal. For Cautious, there is a 3.5% initial charge and maximum TER of 1.5%. Commission is 3% initial and 0.25% renewal.
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