Flexible Income Annuity (FIA) funds
Scottish Friendly provide FIA policyholders with the option of 7 different unit-linked funds. These funds offer varying levels of risk from cautious to adventurous funds. Both active and passively managed funds are available.
The funds are managed by Canada Life Asset Management who determine the appropriate balance between index trackers, equities, government bonds, corporate bonds, property, and cash. This provides access to multiple investment markets.
The full range of funds available to FIA policyholders can be found in the table below:
| Fund name | Fund manager | Objective | Risk | AMC | Factsheet link | |
|---|---|---|---|---|---|---|
|
Passive fund
|
CanLife FIA Adventurous Passive Fund (Formerly MGM Adventurous Passive Fund) |
Canada Life Asset Management |
To achieve long-term capital growth by managing the asset allocation of a portfolio of predominantly UK and overseas equities. | Adventurous |
0.30% |
|
|
Passive fund |
CanLife FIA Balanced Passive Fund (Formerly MGM Balanced Passive Fund) |
Canada Life Asset Management |
To achieve a combination of capital growth and capital preservation by managing the asset allocation of a portfolio of predominantly equities and fixed income. | Balanced |
0.25%
|
|
|
Passive fund |
CanLife FIA Cautious Passive Fund (Formerly MGM Cautious Passive Fund) |
Canada Life Asset Management |
To achieve capital preservation with some opportunity for growth in the medium term by managing the asset allocation of a portfolio of predominantly fixed income and cash with some equities. | Cautious |
0.20% |
|
|
Active fund |
CanLife FIA Jupiter Merlin Growth Portfolio Fund (Formerly MGM Jupiter Merlin Growth Fund) | Jupiter Asset Management |
To provide a return, net of fees, higher than the IA Flexible Investment Sector average over the long term (at least five years). |
Adventurous |
1.50% (0.75% after AMC rebate)
|
|
|
Active fund |
CanLife FIA AXA Framlington Balanced Managed Fund | AXA Framlington | The fund aims to achieve capital growth through investment in a broad range of securities in all or any economic sectors in all or any parts of the world which, in the Manager’s opinion, show above average profitability, management quality and growth, balancing risk and return for investors. | Balanced |
0.65% |
|
|
Active fund |
CanLife FIA Ninety-One Multi-Asset Protector Fund (Formerly MGM Investec Multi-Asset Protector Fund) |
Ninety-One Asset Management |
The fund aims to provide capital growth from a multi-asset portfolio and to deliver protection at 80% of the investment’s highest price to date, however this is not guaranteed. The fund invests in UK and global equities, bonds, property, commodities, cash and alternatives. | Cautious |
0.80%
|
|
|
Active fund
|
CanLife FIA Insight Liquidity Fund (Formerly MGM Insight Liquidity | Insight | To achieve stability of capital and daily liquidity with an income which is comparable to Sterling denominated short dated money market interest rates. | Defensive |
0.25% (0.1% after AMC rebate) |