Changes to the Scottish Equitable Cirilium funds

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We’re making changes to the fund objectives of four Scottish Equitable Cirilium funds. These changes will be effective from 28 August 2017 and apply to the pension and Aegon Retirement Choices (ARC) versions of the funds. The affected funds are listed below:

  • Scottish Equitable Cirilium Balanced pension fund
  • Scottish Equitable Cirilium Conservative pension fund
  • Scottish Equitable Cirilium Dynamic pension fund
  • Scottish Equitable Cirilium Moderate pension fund.

Why have these changes been made?

Old Mutual, the underlying fund manager of the Cirilium funds, has always had the ability to invest directly in hedge funds (a type of investment fund in which the fund manager can use a number of specialist investment techniques, including the use of derivatives, short-selling and debt) via the funds listed above. However, exposure to hedge funds had previously been achieved indirectly. Old Mutual wish to clarify that exposure to hedge funds will now be achieved by direct investment.

Nothing else about the funds has changed; the way the fund is managed, the fund managers, the Aegon risk ratings and charges remain the same.

The changes in more detail

Changes to the fund objectives are detailed in the tables below:

Scottish Equitable Cirilium Balanced pension fund

Fund objective before 28 August 2017

Fund effective from 28 August 2017

This fund is a multi-manager fund and aims to achieve long-term capital growth from investment across a wide range of asset classes, including global equities (shares), fixed interest (bonds) and cash. The fund will also have indirect exposure to hedge funds, commodities and property by investing in collective investment schemes. The fund has the ability to invest up to 60% in equities.

This fund is a multi-manager fund and aims to achieve long-term capital growth from investment across a wide range of asset classes, including global equities (shares), fixed interest (bonds), hedge funds and cash. The fund will also have indirect exposure to commodities and property by investing in collective investment schemes. The fund has the ability to invest up to 60% in equities.

Scottish Equitable Cirilium Conservative pension fund

Fund objective before 28 August 2017

Fund objective effective from 28 August 2017

This fund is a multi-manager fund and aims to achieve long-term capital growth from investment across a wide range of asset classes, including global equities (shares), fixed interest (bonds) and cash. The fund will also have indirect exposure to hedge funds, commodities and property by investing in collective investment schemes. The fund has the ability to invest up to 30% in equities.

This fund is a multi-manager fund and aims to achieve long-term capital growth from investment across a wide range of asset classes, including global equities (shares), fixed interest (bonds), hedge funds and cash. The fund will also have indirect exposure to commodities and property by investing in collective investment schemes. The fund has the ability to invest up to 30% in equities.

Scottish Equitable Cirilium Dynamic pension fund

Fund objective before 28 August 2017

Fund objective effective from 28 August 2017

This fund is a multi-manager fund and aims to achieve long-term capital growth from investment across a wide range of asset classes, including global equities (shares), fixed interest (bonds) and cash. The fund will also have indirect exposure to hedge funds, commodities and property by investing in collective investment schemes. The fund has the ability to invest up to 90% in equities.

This fund is a multi-manager fund and aims to achieve long-term capital growth from investment across a wide range of asset classes, including global equities (shares), fixed interest (bonds), hedge funds and cash. The fund will also have indirect exposure to commodities and property by investing in collective investment schemes. The fund has the ability to invest up to 90% in equities.

Scottish Equitable Cirilium Moderate pension fund

Fund objective before 28 August 2017

Fund objective effective from 28 August 2017

This fund is a multi-manager fund and aims to achieve long-term capital growth from investment across a wide range of asset classes, including global equities (shares), fixed interest (bonds) and cash. The fund will also have indirect exposure to hedge funds, commodities and property by investing in collective investment schemes. The fund has the ability to invest up to 80% in equities.

This fund is a multi-manager fund and aims to achieve long-term capital growth from investment across a wide range of asset classes, including global equities (shares), fixed interest (bonds), hedge funds and cash. The fund will also have indirect exposure to commodities and property by investing in collective investment schemes. The fund has the ability to invest up to 80% in equities.

 

What do investors need to do?

Existing investors don’t need to do anything. Please speak to a financial adviser if you’re unsure about what the changes mean for you. You can find one in your area at unbiased.co.uk.