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Update on important information regarding change of Investment Management of Clerical
Medical Funds
In October/November 2009 Scottish Widows Investment Partnership Limited was appointed
as the investment manager of the majority of the Clerical Medical funds which were
previously managed by Insight Investment Management (Global) Limited (Insight).
However, initially Scottish Widows Investment Partnership delegated the day-to-day
investment management of some of the funds back to Insight so Insight could continue
to manage the funds until the Scottish Widows Investment Partnership fund manager
is appointed by our Investment Committee as part of the investment governance process.
The appointment of the new Scottish Widows Investment Partnership fund manager and
the move of day-to day investment management has been happening in a number of separate
moves.
Funds moved on 24 October 2009.
Funds moved on 23 January 2010.
Funds moved on 20 February 2010.
We expect to move the remaining funds in March.
The following funds are not being transferred to Scottish Widows Investment Partnership
because we believe that Insight Investment Management (Global) Limited have the
best capability to manage these particular funds. The funds not moving are:
Absolute Return
Balanced Fund of Funds
Diversified Income
Diversified Return
Dynamic Return
Target Income
Target Return
UK Alpha Fund of Funds
UK Equity Fund of Funds
You don't need to do anything. The way your fund is managed will not change. Our
aim is to continue the management of your fund to the same risk and performance
objectives communicated to you when you invested.
Our Investment Committee has a formal responsibility to ensure that fund managers
appointed to manage your fund are able to meet the performance and risk objectives
that we specify for each fund.
Q&As
For more information please read our
Customers Q&As
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