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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. Whilst the fund is suspended the Fund Manager is progressing with closing the fund and returning assets to investors. We will be in regular contact with affected customers and 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
CTLV= CT UK Property AIF (s2)Fund closureThe 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 all investors on Friday 20th September 2024. All affected customers and their Financial Advisers have been contacted.20.09.2024
CTLV= CT Index LinkedFund closureColumbia Threadneedle, who manage the underlying fund in which this fund invests, constantly review their range of funds and are committed to offering investors the best possible opportunities and value for money. They have advised us that, following notice of a significant redemption by a single client, the underlying fund will fall in assets, to a size which will no longer be viable to manage. Furthermore, the Fund has failed to attract significant new investment during the last five years and is unlikely to raise new assets in the future. On this basis, they believe the closure of the Fund is in the best interests of investors.20.09.2024
CTLV= Index LinkedFund ClosureColumbia Threadneedle, who manage the underlying fund in which this fund invests, constantly review their range of funds and are committed to offering investors the best possible opportunities and value for money. They have advised us that, following notice of a significant redemption by a single client, the underlying fund will fall in assets, to a size which will no longer be viable to manage. Furthermore, the Fund has failed to attract significant new investment during the last five years and is unlikely to raise new assets in the future. On this basis, they believe the closure of the Fund is in the best interests of investors.20.09.2024
CTLV= CT Index Linked (s2)Fund ClosureColumbia Threadneedle, who manage the underlying fund in which this fund invests, constantly review their range of funds and are committed to offering investors the best possible opportunities and value for money. They have advised us that, following notice of a significant redemption by a single client, the underlying fund will fall in assets, to a size which will no longer be viable to manage. Furthermore, the Fund has failed to attract significant new investment during the last five years and is unlikely to raise new assets in the future. On this basis, they believe the closure of the Fund is in the best interests of investors.08.10.2024
CTLV= Index Linked (s2)Fund ClosureColumbia Threadneedle, who manage the underlying fund in which this fund invests, constantly review their range of funds and are committed to offering investors the best possible opportunities and value for money. They have advised us that, following notice of a significant redemption by a single client, the underlying fund will fall in assets, to a size which will no longer be viable to manage. Furthermore, the Fund has failed to attract significant new investment during the last five years and is unlikely to raise new assets in the future. On this basis, they believe the closure of the Fund is in the best interests of investors.08.10.2024

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.
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 now been closed to all investors as of 20.09.2024. All affected customers and their Financial Advisers have been contacted.
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.We met with the Fund Managers in September and are happy with the measures being taken to improve performance, which is already showing across the short-medium term. The fund underwent a significant restructure after a low point in performance in 2022 and is more defensively structured than most funds in the peer group. Recent market shifts have worked in the fund’s favour. The fund will continue to be monitored and will be reviewed again in 12 months time.
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.The fund is under review and an update will follow shortly.
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.The fund is under review and an update will follow shortly.
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.The fund is under review and an update will follow shortly.
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.The fund is under review and an update will follow shortly.
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.The fund is under review and an update will follow shortly.
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.The fund is under review and an update will follow shortly.
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.The fund is under review and an update will follow shortly.