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ScotEq Intl adds fund to retirement selection

Scottish Equitable Internat- ional is adding a version of its externally managed universal balanced collection fund to its retirement planning range.

The fund will have a 1 per cent annual charge and will mirror the UBC pension fund, which has grown to over 1.74bn since launch in 2001.

It is available for inclusion in offshore single-premium products and for SEI ‘s flexible investment plan which is used alongside its pension products for retirement planning.

The portfolio offers a combination of active and passive management, with 75 per cent of the fund invested in a balanced passive fund, managed by Merrill Lynch.

The remaining 25 per cent of the fund is invested in funds managed by five third-party investment houses – Baillie Gifford, DWS, Newton, UBS Global Asset Management and again Merrill LynchSEI marketing manager Steven Whalley says: “This fund has proved very popular for Scottish Equitable’s pension fund range.”


Leeds Building Society launches on Monday

Leeds Building Society launches under its new moniker on Monday.The 57 branches of Leeds & Holbeck and its Gibralter branch will undergo a renaming, following a vote at the mutual’s AGM in March with over 80 per cent of the 75,000 voters in favour of the name change.Leeds chief executive Ian Ward says: “One of […]

Fidelity splits its special sits

Fidelity’s decision to split Anthony Bolton’s giant special situations fund into two funds with a UK and wider European remit has raised concerns from advisers. Star manager Bolton will eventually manage only one of the funds and Chelsea Financial Services managing director Darius McDermott says that he expects money to flow from the non-Bolton fund […]

70% Of firms have no DB exit strategy

Seventy per cent of companies have no exit strategy for their defined-benefit pension scheme despite the fact 88 per cent of UK firms operating a closed scheme continue to be significantly conc- erned by the drain on their finances, according to research from Aon Consulting.

Simply Biz in Super League

SimplyBiz is moving into new premises in Huddersfield’s Galpharm Stadium. The support service provider will move into the new offices in October after outgrowing their existing office space. SimplyBiz, with over 2,400 registered individuals and over 1,000 firms since launch, says its rapid member growth has warranted expansion of its compliance and back-office admin staff. […]

Spring has sprung

Well, it’s been lovely to see a little bit of sunshine, even if it was only a brief appearance. I live in Scotland so, believe me, it was very brief.  Of course, with even the tiniest hint of spring, thoughts turn to the inevitable clearout that must take place.  And that got me to thinking […]


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