Scottish Mutual has designed the tailored flexible trustee investment
plan for trustees of occupational and personal pension investors who
are looking for a pooled investment option.
It provides access to a range of Scottish Mutual pension funds
including managed, with-profits, European equity and North
Trustees can choose up to 10 funds and are allowed to switch
between funds without charge. They can make regular and single
contributions which can be stopped, increased and reduced at any
This plan differs from Scottish Mutual's classic flexible trustee
investment plan as it provides access to institutional funds at a lower
contribution level than normal, which is an unusual feature. This may
be useful as trustees with smaller sums to invest can gain greater
Similar products aimed at pension fund trustees include Skandia's
trustee investment bond, which provides access to a range of
Skandia funds and those from external fund managers including
Aberdeen and Schroders. Like the Scottish Mutual product, it has
unlimited free fund switches but trustees of smaller schemes may
prefer Scottish Mutual because of the access to institutional funds at
a reduced contribution level.
According to Standard & Poor's, 10 out of 18 Scottish Mutual pension
funds are top quartile and eight are bottom quartile based on £1,000
invested on a bid-to-bid basis with net income reinvested over three
years to August 6, 2001.