Scottish Life highlights significant increase in use of Governed Range
Friday, 5 February 2010
Scottish Life, the pensions specialist arm of the Royal London Group, has highlighted a significant increase in the use of its core investment proposition, the Governed Range.
The Governed Range has been a great success with advisers and clients since the launch of the enhanced Range in January 2009. 55% of all new individual Scottish Life policies taken out during 2009 invested in the Governed Range compared with 28% in 2008.
For new Group schemes in 2009, 59% used the Scottish Life Governed Range compared with 55% in 2008.
Scottish Life's Governed Range helps make choosing and monitoring investments more transparent. It's based on a robust 4-stage process of risk assessment; asset allocation; fund choice; and regular reviews. Standard benefits of the Governed Range (at no additional cost) include well defined and strictly controlled governance and range of lifestyling options. So advisers and clients can be sure that the investment choice continues to remain appropriate all the way to retirement.
Nick Leitch, Head of Investment Marketing at Scottish Life, said:
"We highlighted last year when we introduced the enhanced Governed Range that the demands on advisers today, and going forward, are clearly significant. The Governed Range was designed to help advisers comply with regulatory requirements; to provide a leading-edge product for their clients; and to achieve greater commercial success within their own business. There has been a very significant increase in the use of the Governed Range in the individual market, which we believe reflects increasing understanding amongst advisers of the FSA's focus on asset allocation and ongoing advice.
"The growth in Scottish Life's new business figures throughout 2009 is confirmation that we are delivering what IFAs and their clients need. This is further evidenced by the 75% increase in the number of IFA firms using Governed Portfolios since January last year."
One benefit of the Governed Range is the opportunity to adjust asset allocation tactically (within set limits) to take advantage of market opportunities. The value of this approach has been clearly shown by the performance of Governed Portfolios against their benchmarks.
More information is available at: http://www.scottishlife.co.uk/scotlife/Web/Site/Employer/Investment/FundInformation/EmpInvFundPerformance.asp
- ENDS -
For further information please contact:
Scottish Life
Alasdair Buchanan, Head of Communications
Tel: 0131 456 7133
Nick Leitch, Head of Investment Marketing
Tel: 0131 456 7891
Polhill Communications
Sally Biggs
Michael Smith
Tel: 020 7655 0520
Editor's Notes:
Performance data for each of the portfolios is available on request.
Past performance is not a guide to the future. Prices can go down as well as up. Investment returns may fluctuate and are not guaranteed.
Advisers should ensure that their advice process complies with FSA suitability requirements and with their own internal compliance requirements.
The Governed Range was launched by Scottish Life in January 2009. It is a series of investment portfolios and lifestyle strategies available within Scottish Life's Retirement Solutions and Pension Portfolio contracts. The Governed Range focuses on risk profiling, asset allocation, fund picking, rebalancing and ongoing governance. It is particularly suited for IFAs who are interested in getting support to help deliver quality investment advice, at low cost, within a Treating Customers Fairly framework.
Full details of the Governed Range are available at www.scottishlife.co.uk/governed
Further information about Scottish Life's new business figures is available at: http://www.royallondongroup.co.uk/Media/PressReleases/Archive/PR100203RL.asp
Scottish Life was founded in 1881 in Edinburgh as a proprietary company, becoming a mutual company in 1968.
On 1 July 2001, Scottish Life demutualised and transferred its business to The Royal London Mutual Insurance Society Limited. Scottish Life is a division of Royal London and is the specialist pensions business within the Group, providing individual and group pensions to the market via intermediaries.
Scottish Life and Royal London's other intermediary businesses are based mainly in Edinburgh where 1,150 staff are employed, with 700 working in other parts of the UK and overseas.
Royal London Group is a specialist financial service provider. Its businesses focus on those sectors of the market which value quality propositions, operating through a number of brands:
- Scottish Life – UK pensions market
- Bright Grey – UK protection market
- Scottish Provident – UK protection market
- Royal London 360° – offshore investment markets
- RLAM – fund management
- RLAS – life and pensions administration
- Fundsdirect / Ascentric – funds supermarket; Wrap platform
Royal London also distributes life and pensions products through Santander's UK branch networks.
Royal London is the largest mutual life and pensions company in the UK with Group funds under management of £35.9 billion. Group businesses serve around 3.4 million customers and employ 2,800 people. Figures quoted are as at 31 December 2009.