Scottish Equitable has altered its pension and life fund ranges after the completion of Aegon's...
Scottish Equitable has altered its pension and life fund ranges after the completion of Aegon's fund rationalisation last month.
Aegon Asset Management has withdrawn from certain niche areas of the market, in order to concentrate on its core range of funds.
As a result of this, Scottish Equitable has appointed Lazard Asset Management and UBS Global Asset Management to take over the running of its European Smaller Companies and Emerging Markets pension funds respectively from May 2003.
Morley Fund Management is run Scottish Equitable's Socially Responsible Equity Pension Fund and the Ethical Care Equity Life Fund, to be renamed the Socially Responsible Equity Life Fund, from May 2003.
As a result of the change in managers, the European Smaller Companies Fund and the Socially Responsible Equity Pension Fund will no longer be available through the group's stakeholder pension products.
Scottish Equitable is to wind up its Latin America Pension Fund and its Building Society Pension Fund from 30 June 2003. Since launch in 1986, the number of building societies suitable for investment has dwindled resulting in the fund's portfolio becoming increasingly concentrated, which has increased the fund's risk profile, according to the group.
Two global vehicles
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