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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
L&GLV= L&G Managed Monthly Income Trust (s2)Change of name, benchmark, objective & policyThe name of the fund will be changing to the LV= L&G Active Sterling Corporate Bond Plus (s2) fund as L&G believe the new name reflects that the fund is actively managed with a focus on investments in sterling denominated corporate bonds. The name change also seeks to enable a clearer understanding of the fund’s investment universe and facilitate clearer comparisons between other funds in their active sterling fund range. The investment policy of the fund is being updated to provide more detail on the permitted investment universe and additional clarity on the investment guidelines. These changes do not represent a change in the way the fund is being managed or to the risk profile of the fund. The name of the benchmark index used as the target benchmark for the fund has recently been changed by its provider to the Markit iBoxx Sterling Corporate Bond Total Return Index but otherwise remains the same.07.02.2022
M&GLV= M&G Corporate BondPrice increaseIncrease of 0.02% on fund charge11.01.2022
M&GLV= M&G Optimal IncomePrice increaseIncrease of 0.02% on fund charge11.01.2022
M&GLV= M&G Strategic Corporate BondPrice increaseIncrease of 0.02% on fund charge11.01.2022
JPMLV= JPM Global MacroChange of name and objective to a sustainable fund strategyNew fund name LV= JPM Global Macro Sustainable fund. JPM believes a sustainable investment approach that seeks to provide the majority of its returns by investing in a portfolio of Sustainable Securities may offer better prospects for growth as demand for sustainable products continues to grow29.04.2022
FidelityLV= Fidelity MoneyBuilder IncomeChange of name and objective to a sustainable fund strategyNew fund name LV= Fidelity Sustainable MoneyBuilder Income Fund The Fund adopts an investment approach that tends to be defensive in nature by focusing on high quality investment grade corporate bonds issued by companies we think are likely to stand the test of time. Considering environmental, social and governance (“ESG”) factors is increasingly an important lens through which to navigate risk and opportunity in the corporate bond market. As such, the Fund shows a natural bias towards issuers that exhibit ESG qualities. We would like to better reflect this in the Fund’s Investment Policy by incorporating an explicit ESG investment focus. The Fund will join Fidelity’s Sustainable Fund Family which applies ESG-related exclusions and screens to ensure that at least 70% of the Fund’s portfolio will be invested in companies which maintain sustainable characteristics.26.05.2022
JupiterLV= Jupiter EcologyChange of benchmarkThe comparator benchmark of the Jupiter Ecology Fund will change from the FTSA Environmental Technolgy 100 (the "ET100") to the MSCI All Country World Index (the "ACWI")08.05.2022
JupiterLV= Jupiter IndiaAdditional risk factorAn additional risk factor will be added to better decribe the risks associated with the Jupiter India Fund investing at least 70% in shares of companies based in India.08.05.2022

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 are providing the best level of service 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
205/1231LV= Sentinel Defensive PortfolioSeries 1 & Series 2The fund has performed below the 75th percentile across 4/6 measured time periods for 8 quarters. We are monitoring the fund closely and engaging with the Fund Manager to see what is being done to address the performance issues.We've reviewed the performance with the fund manager and they have confirmed that an incorrect benchmark was being used to measure the performance of the fund. We're satisfied with the explanations provided for the performance by the fund manager and so the fund will be removed from our watchlist.
190/1201LV= FTF MC Asia Unconstrained/LV= FTF MC Asia Unconstrained (s2)Series 1 & Series 2The fund had performed below the 75th percentile across 5/5 measured time periods for 4 quarters. We are monitoring the fund closely.The fund has been reviewed and recommended for closure. A communication will be sent to advisers and customers shortly.
1236Schroder Global Cities Real Estate Income (s2)Series 2The fund had performed below the 75th percentile across 5/5 measured time periods for 3 quarters. We are monitoring the fund closely.The fund has undergone a change in objective and strategy. We will continue to monitor performance.