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ScotMut adds green and external funds

Scottish Mutual is adding four new externally managed funds and a new ethical fund to its investment range.

The external funds are managed by four leading investment houses Fidelity, Merrill Lynch Investment Managers, Newton and Perpetual.

The new options mean investors can choose bet ween external managed funds and in-house funds or invest in a combination of funds depending on their attitude to risk.

Charges vary across the funds which are open to existing customers as well as new business.

Clients can switch funds free in the first year and can use the company&#39s Lifestyle switching facility.

Scottish Mutual says its new ethical fund will invest mainly in UK equities based on a range of ethical, environmental and social factors.

It will not invest in companies involved in armament systems, tob acco products, nuclear power or animal testing.

The company will have a total of 18 funds, inclu-ding unitised with-profits, managed funds and specialist funds.

Product development actuary Nick Kelly says: “We have selected some of the best-known names in fund management to complement our existing range of in house funds.

The funds are appropriate for customers with a balanced attitude to risk and the investment styles of the managers are quite distinct. This structure adds a new dimension to our fund range and will give greater choice to our customers.”

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