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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
SchrodersSchroder Global Equity Income Z AccChange of benchmarkThe Fund will use MSCI World Value (Net Total Return) Index as an additional comparator benchmark alongside the Investment Association Global Equity Income sector average return, due to the Fund’s explicit value investment style.31/03/2021
SchrodersSchroder Income Z AccChange of benchmarkThe Fund will use MSCI UK Value (Gross Total Return) Index as an additional comparator benchmark alongside the Investment Association UK Equity Income sector average return, due to the Fund’s explicit value investment style.31/03/2021
M&GM&G Sustainable Multi Asset Fund GBP L AccChange of objectiveThe current investment policy requires the fund to invest between 10% and 30% of its portfolio in positive impact assets. From the Effective Date, the fund’s minimum exposure to these assets will rise to 20% and will typically be in the range of 20% - 60%. The investment objective will be updated to specify that Impact Criteria are applied alongside Environmental, Social and Governance (ESG) Criteria as the fund seeks to achieve its total return (the combination of capital growth and income) objective.01/07/2021
M&GM&G Sustainable Multi Asset Fund GBP L AccPrice reductionReduction in IMC from 0.520% to 0.470%30/04/2021

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
176/1184LV= Jupiter UK Growth / LV= Jupiter UK Growth (s2)Series 1 and Series 2The fund has performed below the 75th percentile across all measured time periods for 11 quarters. An interview was held with the fund manager to address LV='s concerns with the underperformance of the fund; we were not satisfied with the measures being taken to address these issues and have made the decision to close the LV= fund to new business.
  • After careful analysis and consideration we're proposing to close the funds to new business with immediate effect.
  • The funds have been underperforming against benchmark and sector for some time and we're not satisfied with the measures that the Fund Managers are taking to address this performance.
  • The LV= insured pension fund range contains a good range of UK All Companies funds including other UK Growth strategies which may be a suitable alternative for current investors in the Jupiter fund.
175/1180LV= Jupiter Income Trust/LV= Jupiter Income Trust (s2)Series 1 and Series 2The fund has performed below the 75th percentile across all measured time periods for 6 quarters. We are engaging with the Fund Manager to see what is being done to address the performance issues. Some improvement has been shown in the last quarter.We are engaging with the Fund Manager and an update will be provided shortly, following end of Q2 2021.
1186LV= Jupiter North American Income (s2)Series 2The fund has performed below the 75th percentile across all measured time periods for 6 quarters. We are engaging with the Fund Manager to see what is being done to address the performance issues. Some improvement has been shown in the last quarter.We are engaging with the Fund Manager and an update will be provided shortly, following end of Q2 2021.
1175LV= Jupiter India (s2)Series 2The fund has performed below the 75th percentile across 4/5 measured time periods for 5 quarters. We are monitoring the fund closely and engaging with the Fund Manager to see what is being done to address the performance issues. Some improvement has been shown in the last quarter.We are engaging with the Fund Manager and an update will be provided shortly, following end of Q2 2021.
205Sentinel Defensive PortfolioSeries 1The fund has performed below the 75th percentile across all measured time periods for 6 quarters. We are engaging with the Fund Manager to see what is being done to address the performance issues. Some improvement has been shown in the last quarter.We are engaging with the Fund Manager and an update will be provided shortly.
111/1239LV= Vanguard Pacific ex-Japan Stock Index/LV= Vanguard Pacific ex-Japan Stock Index (s2)Series 1 and Series 2The fund has performed below the 75th percentile across 5/6 measured time periods for 3 quarters. We are monitoring the fund closely.Fund will continue to be monitored.
172LV= Jupiter Emerging European OpportunitiesSeries 1The fund has performed below the 75th percentile across 4/6 measured time periods for 3 quarters. We are monitoring the fund closely.Fund will continue to be monitored.
1066LV= Schroder MM Diversity Balanced (s2)Series 2The fund has performed below the 75th percentile across 4/5 measured time periods for 3 quarters. We are monitoring the fund closely. Some improvement has been shown in the last quarter.Fund will continue to be monitored.
1083LV= Fidelity Index Pacifix ex Japan (s2)Series 2The fund has performed below the 75th percentile across 3/5 measured time periods for 3 quarters. We are monitoring the fund closely.Fund will continue to be monitored.
1234LV= Schroder Asian Income Maximiser (s2)Series 2The fund has performed below the 75th percentile across 4/5 measured time periods for 3 quarters. We are monitoring the fund closely.Fund will continue to be monitored.