Understanding how your investment is managed
What the funds invest in
The range of funds are unit linked, multi-asset investments, each containing a mix of shares (equities), commercial property and fixed interest investments, such as corporate and government bonds.
The funds are 'with-profit', which means you'll get the benefit of the growth in the funds, as well as any additional with-profits member bonuses.
Who manages the funds
We manage the Smoothed Managed Funds in partnership with Columbia Threadneedle Investments, who are one of the UK's largest fund managers with over £492bn* in assets under management.
We work together to maximise the funds' potential for growth while maintaining a consistent level of investment risk.
*Source: www.columbiathreadneedle.co.uk as at 30 June 2022
Responsible investing
Our top priority is to provide you with a fair return on your investment. But, we’re also committed to a philosophy of responsible investing.
Choose from a range of fund options designed to suit different attitudes to risk
Protect your investment with an optional guarantee
We know it’s vital to feel comfortable with your investment choices. That’s why when you invest in our Smoothed Managed Cautious Fund you have the option of buying a capital guarantee
We believe it’s important to help you understand where your money is being invested. The table below shows the target investment allocation for each asset type within the Smoothed Pension fund.
Assets | Extra Cautious | Cautious | Balanced | Growth | Impact Growth |
---|---|---|---|---|---|
UK Gilts | 13.0% | 10.0% | 8.0% | 5.0% | 3.5% |
US Treasuries | 13.0% | 10.0% | 8.0% | 5.0% | 3.5% |
UK Corporate Bonds | 18.0% | 16.0% | 10.0% | 8.0% | 7.0% |
DM Corporate Bonds | 18.0% | 16.0% | 10.0% | 8.0% | 7.0% |
High Yield Bonds | 5.0% | 7.5% | 6.5% | 4.0% | 7.0% |
UK Equities | 1.5% | 4.0% | 7.0% | 10.0% | - |
US Equities | 2.0% | 4.0% | 7.0% | 10.0% | - |
European Equities | 3.0% | 4.0% | 7.0% | 9.0% | - |
Japanese Equities | 2.5% | 3.0% | 5.0% | 3.5% | - |
APAX ex Japan Equities | - | 4.0% | 6.0% | 7.5% | 10.0% |
EM Equities | - | 4.0% | 6.0% | 7.5% | 10.0% |
UK Sustainable | 1.0% | 1.5% | 2.5% | 3.0% | 10.0% |
Global Sustainable | 1.0% | 1.5% | 2.5% | 3.0% | 10.0% |
Global Equity ESG fund | - | - | - | - | 25.0% |
Cash | 5.0% | 2.0% | 2.0% | 2.0% | 2.0% |
Dynamic Real Return | 10.0% | 7.5% | 7.5% | 7.5% | - |
Property | 7.0% | 5.0% | 5.0% | 7.0% | 5.0% |
Total Equities and Property | 23.0% | 34.8% | 51.8% | 64.3% | 70.0% |
Assets | Extra Cautious | Cautious | Balanced | Growth | Impact Growth |
---|---|---|---|---|---|
UK Gilts | 13.0% | 10.0% | 8.0% | 5.0% | 3.5% |
US Treasuries | 13.0% | 10.0% | 8.0% | 5.0% | 3.5% |
UK Corporate Bonds | 18.0% | 16.0% | 10.0% | 8.0% | 7.0% |
DM Corporate Bonds | 18.0% | 16.0% | 10.0% | 8.0% | 7.0% |
High Yield Bonds | 5.0% | 7.5% | 6.5% | 4.0% | 7.0% |
UK Equities | 1.5% | 4.0% | 7.0% | 10.0% | - |
US Equities | 2.0% | 4.0% | 7.0% | 10.0% | - |
European Equities | 3.0% | 4.0% | 7.0% | 9.0% | - |
Japanese Equities | 2.5% | 3.0% | 5.0% | 3.5% | - |
APAX ex Japan Equities | - | 4.0% | 6.0% | 7.5% | 10.0% |
EM Equities | - | 4.0% | 6.0% | 7.5% | 10.0% |
UK Sustainable | 1.0% | 1.5% | 2.5% | 3.0% | 10.0% |
Global Sustainable | 1.0% | 1.5% | 2.5% | 3.0% | 10.0% |
Global Equity ESG fund | - | - | - | - | 25.0% |
Cash | 5.0% | 2.0% | 2.0% | 2.0% | 2.0% |
Dynamic Real Return | 10.0% | 7.5% | 7.5% | 7.5% | - |
Property | 7.0% | 5.0% | 5.0% | 7.0% | 5.0% |
Total Equities and Property | 23.0% | 34.8% | 51.8% | 64.3% | 70.0% |