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Fund governance

Changes to fund managers, investment styles or benchmarks may mean that funds established years ago are no longer the best option for investors. There’s also increasing pressure from regulatory authorities for providers to have robust fund governance processes in place. The funds in our ranges are actively monitored and governed.

How does the governance process work?

Our Investment Team continually monitors all the funds in our ranges, which involves different levels of analysis depending on how a fund is performing against its mandate or objectives. If questions about performance against the fund’s mandate or objectives arise during the fund monitoring process, they’ll move to the governance stages, which is when the Unit Linked Investment Management Committee will get involved.

For the Scottish Widows funds, the outcome could be to remove a fund from our range. For the SWIS funds, the Unit Linked Investment Management Committee has the power to select an alternative fund manager if they consider that the incumbent manager is unable to achieve the fund’s objectives.

How can I see that the governance process is working?

We provide regular updates on the funds in our ranges to show how they’re performing and to illustrate the monitoring and governance processes in action.

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How do you communicate changes to the fund ranges?

If we decide to remove a fund from our ranges, we’ll write to everyone invested in the fund, as well as their advisers, making sure they’re aware of the options open to them.

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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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