UK – Scottish Widows, the asset management arm of Lloyds TSB, is to launch four new “best of breed” multi-manager portfolios as a result of the strategic alliance it recently formed with multi-management specialist, Frank Russell Company, as reported by IPE Newsline on 12/12/01.
The new funds will be managed by a team of over 60 managers worldwide via unit trusts, ISAs, and life or pension funds. They are primarily targeted at personal investors in the UK but the deal with Frank Russell means that investors will have access to Russell’s manager research and selection process which until now has only been available to large institutional investors .
The four new fund portfolios will all contain sterling hedged global fixed income, UK and non-UK equities elements. but to varying degrees to reflect different risk tolerance levels.
The portfolios are split as follows:
•Opportunities portfolio. 10% global fixed income. 36% UK equities. 54% non-UK equities.
•Progressive portfolio. 25% global fixed income. 30% UK equities. 45% non-UK equities.
•Balanced portfolio. 50% global fixed income. 20% UK equities. 30% non-UK equities.
•Cautious portfolio. 85% global fixed income. 6% UK equities. 9% non-UK equities.
Says Mike Ross, chief executive at Scottish Widows: “This latest extension to our range of investment propositions offers clients all the benefits of a widely diversified, actively managed investment portfolio, in a single package.”