Scottish Equitable International (SEI) has completed its move away from traditional with-profits bus...
Scottish Equitable International (SEI) has completed its move away from traditional with-profits business with its latest launches, a distribution fund and an equity-free managed portfolio aimed at the more risk-averse investor.
The Select Distribution fund with its mix of property, cash, UK, corporate bonds and equities is in effect with-profits without smoothing. The Select Reserve fund will be more cautious, lacking as it does equties. The launches follow on from its last November's Northern Trust Cautious Manager of Manager fund offering.
Steve Whalley, head of marketing at Scottish Equitable International, said: "The distribution fund follows on from the trend to move away from traditional with profits products. Intermediaries recognise the asset allocation mix as sensible and distribution funds offer increased transparency."
£1bn business since inception
Considered doing so in 2015
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