FP to expand passive range

Friends Provident (FP) is adding a passive fund range to its multi-manager offering to be accessed via its group stakeholder range. The group will offer three passive products: Global Equity (50:50) Index, Balanced Index and Cautious Index, investing in a range of underlying equity trackers, fixed interest and cash. The funds are being branded as the Activ Index range and will be available to new schemes from 18 August. The Global Equity (50:50) Index fund, run by Barclays Global Investors (BGI), will be invested 50% in a UK tracker and 50% in overseas equities, split equally between th...