Managing with-profits business
We’re committed to treating customers fairly and believe we should be completely transparent about how we manage our with-profits business. To help you understand with-profits and how we manage them we've produce a number of useful documents.
The value of an investment can fall as well as rise for a number of reasons, for example market and currency movements. You may get back less than originally invested.
The purpose of this document is to help you understand:
- our with-profits investment
- how we manage our with-profits business
- how this business is governed
We last made changes to our PPFM on 1 August 2013, the updated PPFM covers our old, unitised and new generation with-profits funds.
We've produced a customer-friendly version of the PPFM. This should be read with the full PPFM.
All investors who have access to our with-profits funds will receive a copy of the appropriate CFPPFM with their key features document. Our CFPPFM is split into three separate documents:
The Financial Conduct Authority and the Prudential Regulation Authority requires us to produce a report each year stating whether or not we believe we've complied with our stated PPFM. Here's our current report 2012 annual report to with-profit planholders.