Winterthur Life is adding a unitised with-profits fund to the list of funds available for its range of pension plans.
The fund is aimed at those who are looking low to medium risk with the added safety factor of knowing they are not investing directly into stocks and shares.
Unitised with-profits is run like a fund of funds, with up to three external investment managers managing portfolios. The managers as yet have not been chosen. The fund can be accessed via Winterthur Lifes personal pension plan, the executive pension plan, the group personal pension plan and the contracted-in money purchase scheme.
With-profits funds are, by their nature, low-to-medium risk. One factor investors should consider when choosing unitised with-profits and traditional with-profits funds is the financial strength of the product provider. Winterthur Life is awarded a BBB financial strength rating by Standard & Poors Insurance Ratings, based on the Financial Services Authority 1998 year end returns.
According to Standard & Poors the Winterthur protector fund is ranked 1,155 out of 1,767 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to September 11, 2000.