We’re making some important changes to the UK Equities Active Fund. You do not need to take any action unless you decide that you no longer wish to invest in the UK Equities Active Fund.
You’re likely to be affected by these changes if either:
- Your retirement savings are invested in the Adventurous Lifestyle Option (ALO) and you have more than 5 year
until your Target Retirement Age; or
- You have self-selected the UK Equities Active Fund as the investment choice for your retirement savings.
The UK Equities Active Fund, which is also a constituent of the ALO, currently invests solely in the M&G UK Recovery Fund (M&G Fund). Historically the M&G Fund has provided strong returns for long-term investors, however, over the past few years performance has been significantly below its performance benchmark. The Trustees have been carefully monitoring the M&G Fund and more recently it has breached two of the review triggers established by the Trustees to determine the continued appropriateness of the M&G Fund.
Following a review, the Trustees have now decided to add the Baillie Gifford UK Equity Core Fund alongside the M&G Fund with all assets in the UK Equities Active Fund split 50/50 between the two funds. Any future contributions made to the UK Equities Active Fund will be split between the funds in this way. Further details of this change are included in the Q&As which also explain the impact of this change on charges for the UK Equities Active Fund. It will no longer be possible to invest in the M&G Fund alone.
The change will take place on/around 26th August 2016 and will automatically apply to you if you’re invested in either the ALO or you have self-selected the UK Equities Active Fund, so you don’t need to take any further action unless you decide that you no longer wish to invest in the UK Equities Active Fund.
You should note that from 24th to 26th August, you’ll be unable to access your details online, or complete any transactions such as withdrawals, transfers or investments while the changes are being implemented and checked by the Experian Pensions team.
It is important to review your investment choices regularly, particularly if your circumstances change, and you can make changes to your investment choice at any time either by completing an ‘Investment Choices form’ from the resources section of the website or online at www.experian.co.uk/retirementplan.
Please contact the Experian Pensions team at Capita on 0114 229 8273 or at experianpensions@capita.co.uk if you have any questions about this change. Capita are unable to provide financial advice but can answer any general questions you may have.