SCOTTISH WIDOWS INVESTMENT PARTNERSHIP
SWIP Global Bond Plus Fund
Income and growth by investing in fixed-interest securities
Lump sum £25,000
37.5% US, 34.7% Europe excluding UK,
23.6% Japan, 4.2% UK
Tel: 020 7203 3329
The Scottish Widows Investment Partnership SWIP global bond plus fund is an Oeic that invests globally in bonds issued by governments, public bodies and financial institutions.
Highclere Financial Services partner Alan Lakey sees this as a new fund from a company with an established reputation in fixed-interest instruments. He says: “The manager, David Miller, has a wide remit allowing scope for a higher than usual turnover of stock. The initial 3.75 per cent charge and annual 1 per cent charge are not unreasonable given the hands-on management emphasis.”
However, Lakey is unhappy about some aspects of the product. He starts with a complaint that the literature is sparse in detail. He then says: “The minimum investment of £25,000 effectively restricts access to the high-net-worth gang. But given the current move towards stakeholder-style offerings, it is not really a surprise to find SWIP aiming for high investment sums.”
Finally, Lakey considers which companies are likely to compete with SWIP and concludes that Axa, Friends Provident and Skandia all present worthwhile and consistent products.
Suitability to market: Average
Investment strategy: Good
Adviser remuneration: Average