Addition of new fund to our MI Savings range – MI Savings (H+)

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We’re pleased to announce the addition of a new fund to our MI Savings range, the MI Savings (H+) fund. The new fund broadens choice for investors, letting them choose the MI Savings fund that best suits their risk appetite from a range of four.

The range previously consisted of three funds, MI Savings (L), MI Savings (M) and MI Savings (H). Each fund aims to match a different attitude to risk, giving customers the option to choose the balance between risk and potential growth they’re most comfortable with. The new fund follows the same investment process and becomes the highest risk fund in the range, meaning it’s designed to provide higher long-term returns than the other MI Savings funds, although there’s an increased risk of losses. 

Unlike other risk target funds, the MI Savings funds have an added safeguard that moves money into safer investments when the fund’s volatility (a measure of its risk) rises above a trigger point (different for each fund) and we believe they’re likely to fall. The funds were introduced following research that showed that investors were much more risk averse following the credit crunch and were designed to help cushion investors from the worst effects of these types of extreme and sustained market events.

The fund is available to our ARC and One Retirement pension products at an additional disclosable charge of 0.20%* and to our older pension products at a total charge of 1.10%**. 

Unlike the lower risk MI Savings funds, a lifestyle (MI Workplace) version will not be available.

You can find out more about the fund on its factsheet(Opens new window). You also learn more about the MI Savings range here.

Please be aware that the value of investments can go down as well as up and that you may get back less than you invested.

*This is a fund-related charge that is paid in addition to the ARC Platform charge and any adviser charges. It’s estimated, so you may pay more or less than the amount shown, although this shouldn’t be significant. 

**This includes a standard 1% product charge, a fixed management fee and expenses that vary with the day to day costs of running the fund. You may pay a different product charge.