Online Services:

SkipNav

Investment Funds Corporate Actions and Watchlist

The Corporate Actions and Watchlist tables provide the latest details of any changes or performance concerns to the underlying funds for our Core fund range.

Pension insured fund corporate action updates

The table below shows any changes to the underlying funds that we use for our Insured Pension range.  These changes are instigated by the underlying fund manager and may directly affect your client’s investments with LV=.

Your client will be notified of any changes, except for price reductions, in writing.

Fund
Manager
Fund
Name
Corporate Action
Notification
Summary of impact on fundDate
Effective
M&GLV= M&G Property Portfolio (s2)Fund suspensionThe fund has suspended trading due to ongoing uncertainty in the UK over the future of open-ended funds in direct (physical) property within a daily-dealing structure. No transactions should be placed on the fund, this includes purchases, switches, sales, transfer outs, income, regular contributions etc. The Fund Manager plans to close the fund and return assets to investors whilst the fund is suspended. We will be in regular contact with affected customers nad their Financial Advisers throughout the suspension as soon as any updates are available.19.10.2023
M&GLV= M&G Property Portfolio (s2)Price reductionThe fund charge has been reduced to compensate for the inconvenience caused by the suspension.30.10.2023
7IMLV= 7IM AAP CautiousFund Merger7IM LLP decided rather than simply terminate the Merging fund, to propose a merger that is expected to result in a larger fund which is more commercially viable through better economies of scale. The 7IM AAP Cautious fund has a very similar investment objective and policy to the 7IM Cautious fund, and the same investment management team who operate a consistent investment approach and manage the fund to the same risk profile. The combined fund will feature lower ongoing costs and the potential to lower them further via raising further assets.22.03.2024
FidelityLV= Fidelity Global PropertyFund Closure to New Business only. Fund merger to take place in June 2024.We believe that a merger into our LV= Schroder Global Cities Real Estate Fund is more suitable and in the best interests of our members who have investments in the LV= Fidelity Global Property Fund. This is because the Schroder fund invests in the same type of assets as the Fidelity Global Property fund – shares in real estate companies. We believe this will offer more continuity of strategy for investors. The underlying Schroder fund, in which the LV= Schroder Global Cities Real Estate fund invests, has assets under management of more than £1bn, whilst the Fidelity Global Property fund had assets under management of £116m as at the end of 2023, which has made it uneconomic for Fidelity to continue to operate.03.04.2024
FidelityLV= Fidelity Emerging Europe Middle East and Africa (s2)Distribution paymentIn March 2023, all non-Russian assets held in the Fidelity Emerging Europe, Middle East and Africa Fund (the ‘underlying fund’) were transferred to the Fidelity Sustainable Emerging Markets Equity Fund (the new fund). The Russian holdings remained in the original fund. As a result, all clients who were invested in the fund at the time of the split, regardless of whether they are still invested in the new fund, retained an entitlement to any distributions from the Russian holdings still held in the original fund. We have not detailed this entitlement to the Russian holdings on client valuations, but the value of these holdings has consistently been zero as the Russian stock market remains closed to international investors. Fidelity recently sold Depositary Receipt positions which had underlying Russian securities; but were not directly subject to sanctions restrictions. Consequently, Fidelity have been able to make an interim distribution to investors. This distribution has been paid into affected customers’ LV= Flexible Transitions Account bank accounts as cash and we have written to all affected customes and their Financial Advisers.14.06.2024
CTLV= CT MM Navigator Distribution (s2)Change of fund objective and investment policy.Columbia Threadneedle are changing the Fund’s investment objective to include a performance target benchmark, setting out what the fund aims to achieve. The fund will be managed with a view to outperform the target benchmarks. Columbia Threadneedle are making these changes as they believe it will help you to better measure and evaluate the Fund’s performance over time.01.07.2024

Pension insured fund performance monitoring Watchlist

All of our pension insured funds go through an onboarding and ongoing due diligence process which means you and your clients can be sure that LV= is challenging the fund managers to ensure they produce the best possible results. LV= carry out a quarterly review of all of its funds and may sometimes identify funds that we feel require further investigation to ensure we are still happy that they remain suitable investment choices for our members.

You can see a list of funds we are investigating and a brief summary of our concerns below. If you would like further information on any of these funds or about our due diligence and monitoring processes please contact us via [email protected]

Please note, if at any point we feel there is a material risk to our members' investment, or we are planning to take any action on the funds listed, all financial advisers with clients invested in the affected funds will be contacted.

LV=
Fund Code
LV=
Fund Name
Fund SeriesReason for investigation of fundOutcome of investigation
1199LV= M&G Property Portfolio (s2)Series 2The fund has performed below the 75th percentile for its sector. Performance measure triggered across 3/5 periods. We are monitoring the fund closely.Fund has been suspended by the underlying Fund Manager with plans to close the fund whilst suspended. Written communications have been sent to all affected customers and their Financial Advisers and we will continue to provide updates as they become available.
1280LV= DMS Stirling House Balanced (s2)Series 2The fund has performed below the 75th percentile for is sector. Performance measure triggered over 2/5 periods.The fund performance has shown considerable improvement across all monitored periods and will now be removed from our wtach-list.
1283LV= DMS Stirling House Growth (s2)Series 2The fund has performed below the 75th percentile for its sector. Performance measure triggered over 4/5 periods.The fund performance has shown considerable improvement across all monitored periods and will now be removed from our wtach-list.
1252LV= CT UK Property AIF (s2)Series 2The fund has performed below the 75th percentile for its sector. Performance measure triggered over 3/5 periods.The fund has been consistently underperforming against benchmark and sector for a considerable period of time and, despite some short-term performance recovery, we are not satisfied with the measures that the Fund Manager is taking to address this performance. The fund is not generating suitable returns for the level of risk taken with a 5 year return of -8.44%. In addition, the LV= fund is a small pot fund with less than £2m AUM that is failing to attract any new investment, the fund size has reduced by approx 26% over a 1 year period and as such is no longer a commercially viable part of our fund range. Some of the increased outflows from the fund can be linked to questions raised by the regulator about the long-term future and suitability of daily dealing property funds and the ongoing FCA consultation that proposes the introduction of notice periods for trades in open-ended property funds. If this proposal becomes legislation, then LV= will no longer be able to facilitate Open Ended Property Funds like the CT UK Property AIF within our core pension fund proposition. For these reasons the LV= CT UK Property AIF (s2) fund has closed to new investors with immediate effect and will close to all investors by Friday 20th September 2024. Written communications have been sent to all affected customers and their Financial Advisers.
1044LV= Ninety One Global Income Opportunities (s2)Series 2The fund has performed below the 75th percentile for its sector. Performance measure triggered over 5/5 periods. We are monitoring the fund closely.The fund is under review and an update will follow shortly.
194/1227LV= Schroder US Mid CapSeries 1 & Series 2The fund has performed below the 75th percentile for its sector. Performance measure triggered over 5/5 periods. We are monitoring the fund closely.The fund is under review and an update will follow shortly.
187/1013LV=7IM AdventurousSeries 1 & Series 2The fund has performed below the 75th percentile for its sector. Performance measure triggered over 4/5 periods. We are monitoring the fund closely.We are monitoring the fund closely.
1062LV= Quilter Investors Cirilium Moderate (s2)Series 2The fund has performed below the 75th percentile for its sector. Performance measure triggered over 2/5 periods. We are monitoring the fund closely.We are monitoring the fund closely.
1157LV= Invesco China Equity (UK) (s2)Series 2The fund has performed below the 75th percentile for its sector. Performance measure triggered over 5/5 periods. We are monitoring the fund closely.We are monitoring the fund closely.
1139LV= Fidelity Sustainable Emerging Markets (s2)Series 2The fund has performed below the 75th percentile for its sector. Performance measure triggered over 5/5 periods. We are monitoring the fund closely.We are monitoring the fund closely.
1055LV= CT MM Lifestyle 3 (s2)Series 2The fund has performed below the 75th percentile for its sector. Performance measure triggered over 5/5 periods. We are monitoring the fund closely.We are monitoring the fund closely.
1054LV= CT MM Lifestyle 4 (s2)Series 2The fund has performed below the 75th percentile for its sector. Performance measure triggered over 3/5 periods. We are monitoring the fund closely.We are monitoring the fund closely.
3000LV= L&G Multi-Index 3 (s2)Series 2The fund has performed below the 75th percentile for its sector. Performance measure triggered over 3/5 periods. We are monitoring the fund closely.We are monitoring the fund closely.