Fourth multi-manager for Friends Prov

riends Provident has launched a fourth multi-manager fund for its Activ defined contribution range, blending active and passive mandates. Aiming to outperform the ABI UK Pension Balanced Managed sector average over rolling three-year periods, the Activ Consensus Enhanced is split 70:30 respectively between passive and active funds. The fund's target alpha is 0.5% to 0.75% on an annualised basis, with a tracking error of 1% to 1.5%. The 70% passive portion is in the BGI Historic Priced Consensus fund, which follows the asset allocations of the Caps Balanced Pensions funds sector. The ...