SWIS and Clerical Medical fund distributions

Certain Scottish Widows Investment Solutions (SWIS) and Clerical Medical funds distribute an income every six months. The levels are set by looking at:

 

  • the actual income produced by the underlying assets of the fund, such as dividends from equities, rental income from property, coupons from fixed interest investments and interest on any cash in the fund
  • the capital growth of the underlying assets of the fund
  • the aim of the fund
  • the prospects for the next 6-12 months

If we can achieve the aim of the fund by paying actual income (as outlined in the first bullet above), we will.

However, the value of the fund and its income can go down as well as up. To ensure the income paid doesn’t vary dramatically (if that’s the fund’s objective), each time we declare a distribution we may choose occasionally to operate an adjustment. We do this because it’s our primary aim to meet the overall objectives of the fund. The adjustment can mean dipping into any capital growth to top up income, or cutting income to preserve capital (in order to safeguard future income).

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Distributions as at 17 August 2017 Distributions as at 17 February 2017
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Scottish Widows Limited. Registered in England and Wales No. 3196171. Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 181655.

Scottish Widows Unit Trust Managers Limited. Registered in England and Wales No. 1629925. Registered Office in the United Kingdom at Charlton Place, Andover, Hampshire SP10 1RE. Tel: 0345 300 2244. Authorised and regulated by the Financial Conduct Authority. Financial Services Register number 122129.

HBOS Investment Fund Managers Limited, registered in England number 941082. Registered office in the United Kingdom at Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority. Financial Services Register number 119223.

Scottish Widows Bank is a trading name of Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales, no. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 119278.

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