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Fund Prices, charges & updates

Fund prices

We update our fund prices each working day. Choose one of the following options to see the current fund prices available in that category. For most funds, you can also view or download factsheets, including past performance, by selecting the fund information icon.

Check fund prices for:

  • Pension Funds
    Fund prices for all Scottish Widows pension fund series and existing customers invested in Halifax pension products.
  • Life Funds
    These life funds are available to existing customers who are already invested in either a Scottish Widows life product or a Halifax life product.
  • OEIC and ISA Funds
    These OEIC and ISA funds are available to existing customers who already hold shares in the funds listed, including Halifax OEIC and ISA customers.
  • For information on Clerical Medical funds and prices please visit the Clerical Medical website

Fund charges

For our OEIC and ISA fund charges, please refer to the relevant Key Investor Information Document (KIID).

Fund updates

Monthly Investment Update:

  • Monthly Investment Update (pdf 1.4 MB) gives current information about all our funds, including launch date, size of fund, performance figures, as well as updates on world markets.

For information on Scottish Widows’ investment approaches, including which funds are currently listed under each investment approach, and to see what changes have been made in past reviews, visit our Investment approaches section.

Changes to our funds

Applying a ‘Fair Value Adjustment’ to Property Funds July 2016

This announcement relates to life and pension property funds. The main funds affected are:

  • Scottish Widows Property Life and Pension funds
  • Clerical Medical Property Life and Pension funds
  • Halifax Property Life and Pension funds
  • Lloyds TSB Property Life and Pension funds

Some multi-asset funds are also affected because they are partly invested in property.

The impact of the EU referendum

Following the EU Referendum outcome there has been uncertainty surrounding the property market and the ease with which individual properties might be bought and sold at their current valuations. While we have not encountered any issues regarding our property funds, we are mindful of the risk that properties coming to market now do not achieve their recent valuations in terms of sale price. 

So we believe it is in the interests of our life and pension property investors to introduce a Fair Value Adjustment (FVA) of the value of direct properties in the funds. This is to reflect more accurately the current likely market values of the funds’ property holdings. Please note that the funds’ overall value has been reduced by less than the FVA, because the funds also hold cash and other liquid assets which are not affected.

This decision was taken by our Fund Pricing Committee, taking into account uncertainty in the UK property market. The Committee will continue to monitor fund prices and property valuations.

What is a Fair Value Adjustment?

A fair value adjustment means the fund is priced in a way which ensures investors receive a price that is in line with what is expected to be realised from a sale of the properties.

Should I make any changes to my investments?

Everyone’s circumstances are different and we aren’t able to give you advice on what is appropriate for you. As always, if you are considering your own position, you should remember why you invested in the first place and consider the lifespan of your investments. Most importantly, you should seek financial advice before making any changes to your investments.

Closures – selected SWIS Life funds and Clerical Medical Pension funds

As part of our fund management activity, we regularly review the funds we offer. Following a recent review, we’ve decided to close a selection of funds within our SWIS Life and Clerical Medical Pension fund ranges.

The following funds closed to new business on 19 February 2016.

Scottish Widows Investment Solutions (SWIS) Life funds:

  • SWIS European Special Situations
  • SWIS US Strategic
  • SWIS Target Income
  • SWIS Emerging Markets Focus
  • SWIS European Focus
  • SWIS Far East Focus
  • SWIS Japanese Focus
  • SWIS UK Focus
  • SWIS UK High Income
  • SWIS UK Smaller Companies Alpha
  • SWIS UK Strategic
  • SWIS US Focus
  • SWIS European Strategic

Please note: the Scottish Widows Investment Solutions (SWIS) Funds are provided by Clerical Medical, and marketed, administered and sold by Scottish Widows Limited. Prior to December 2010 the SWIS funds were known as the Clerical Medical Investment Solutions (CMIS) funds.

Clerical Medical Pension funds:

  • European Special Situations
  • US Strategic
  • Target Income
  • Emerging Market Focus
  • European Focus
  • Far East Focus
  • Japanese Focus
  • UK Focus
  • UK High Income
  • UK Smaller Companies Alpha
  • UK Strategic
  • US Focus
  • European Strategic

Please note: If you already have a Clerical Medical individual pension you can still add to it, but not to the closing fund(s), or make changes to how your plan is invested. However, Clerical Medical individual pensions are no longer open to new investors. Regular premiums will continue into the closing fund until it closes and will then automatically transfer to the alternative fund.The affected funds closed on 24 May 2016.

Scottish Widows pension funds are not affected.

Launch of Premier Pension Portfolio Funds: January 2016

We are pleased to introduce our new Premier Pension Portfolio Fund range (Premier range), which builds on our well-established original range of Pension Investment Approaches (PIA) and Governed Investment Strategies (GIS) lifestyling options and Pension Portfolio Funds.

The differences between our original range and Premier range is all about cost, the number and types of investment we use, and the level of potential return that we believe could be generated.

The Premier Pension Portfolio Funds have higher annual charges than our original versions, but this gives them more scope to potentially generate better returns for broadly similar levels of risk.

Our new Premier PIA (PPIA) and Premier GIS (PGIS) options have the same structure as our existing, passively-managed PIA and GIS lifestyling propositions:

  • Three risk categories (Cautious, Balanced, Adventurous) and three retirement outcomes (Targeting Annuity, Targeting Encashment, Targeting Flexible Access).
  • A glidepath design that gradually 'de-risks' from 15 years to the customer's selected retirement date.
  • A blend of underlying funds to achieve the selected asset mixes at different stages of lifestyling.

In addition to the PPIA and PGIS lifestyling options, our new Premier Pension Portfolio Funds are all available as stand-alone investment choices for individual and corporate pension products.

Full details of our PPIA and PGIS lifestyling options can be found in the Scottish Widows Premier Lifestyling Options guide. For details of the Premier Pension Portfolio Funds as stand alone investments, please see the Scottish Widows Premier Pension Portfolio Funds guide.

Changes to some Scottish Widows and Clerical Medical fund names: November 2015

On 23 November 2015 we changed a number of our Scottish Widows and Clerical Medical life and pension fund names. This was because some of our Investment Partners have changed the names of funds which we link to through the Scottish Widows and Clerical Medical life and pension fund ranges.

The changes are as follows:

Old fund name (for both life and pension versions of the fund) New fund name (from 23 November 2015)
CM Invesco Perpetual Emerging Countries Life and Pension Funds CM Invesco Perpetual Global Emerging Markets Life and Pension Funds

Further information: This fund was previously known as the CM Invesco Perpetual Emerging Countries Fund. The underlying fund, the Invesco Perpetual Emerging Countries Fund, has been renamed as the Invesco Perpetual Global Emerging Markets Fund.

CM Newton Global Higher Income Life and Pension Funds CM Newton Global Income Life and Pension Funds

Further information: This fund was previously known as the CM Newton Global Higher Income Fund. The underlying fund, the Newton Global Higher Income Fund, has been renamed as the Newton Global Income Fund.

SW Newton Global Higher Income Pension Fund SW Newton Global Income Pension Fund  

Further information: This fund was previously known as the SW Newton Global Higher Income Fund. The underlying fund, the Newton Global Higher Income Fund, has been renamed as the Newton Global Income Fund.

CM Newton Higher Income Life and Pension Funds CM Newton UK Income Life and Pension Funds

Further information: This fund was previously known as the CM Newton Higher Income Fund. The underlying fund, the Newton Higher Income Fund, has been renamed as the Newton UK Income Fund.

SW Newton Higher Income Life and Pension Funds SW Newton UK Income Life and Pension Funds

Further information: This fund was previously known as the SW Newton Higher Income Fund. The underlying fund, the Newton Higher Income Fund, has been renamed as the Newton UK Income Fund.

Funds closing to new business only on 23 November 2015

  • SW Investec American Life and Pension Funds
  • SW Jupiter Undervalued Assets Life and Pension Funds

Further information: These funds are no longer available for new investment and we are therefore no longer marketing them to new investors.

Customers do not need to do anything, but please note that when searching for up to date factsheets you will now need to use the new fund name. For further details, factsheets can be viewed online using the links for Pension Funds and Life Funds located towards the top of this webpage. Fund guides will be updated in due course to reflect the new fund names.

Changes to some Scottish Widows and Clerical Medical fund names: August 2015

On 17 August 2015 we changed a number of our Scottish Widows and Clerical Medical life and pension fund names. This was because some of our Investment Partners have changed the names of funds which we link to through the Scottish Widows and Clerical Medical life and pension fund ranges.

The changes are as follows:

Old fund name (for both life and pension versions of the fund) New fund name (from 17 August 2015)
SW Investec Global Free Enterprise SW Investec Global Strategic Equity
Further information: The underlying fund, the Investec Global Free Enterprise Fund, has been renamed as the Investec Global Strategic Equity Fund.
SW Fidelity International SW Fidelity Open World
Further information: The underlying fund, the Fidelity International fund, has been merged into the Fidelity Open World fund. Please note that this fund is not available for new investment.
CM Schroder Global Climate Change CM Schroder QEP Global Core
Further information: The underlying fund, the Schroder Global Climate Change Fund, has been renamed as the Schroder QEP Global Core Fund.
CM Newton Balanced CM Newton Multi-Asset Balanced
Further information: The underlying fund, the Newton Balanced fund, has been renamed as the Newton Multi-Asset Balanced fund.
CM Newton Managed CM Newton Multi-Asset Growth
Further information: The underlying fund, the Newton Managed fund, has been renamed as the Newton Multi-Asset Growth fund.
CM Newton Phoenix CM Newton Multi-Asset Diversified Return
Further information: The underlying fund, the Newton Phoenix Multi-Asset fund, has been renamed as the Newton Multi-Asset Diversified Return fund.

Customers do not need to do anything, but please note that when searching for up to date factsheets you will now need to use the new fund name. For further details, factsheets can be viewed online using the links for Pension Funds and Life Funds located towards the top of this webpage. Fund guides will be updated in due course to reflect the new fund names.

Important changes to the Scottish Widows Ethical and Environmental Funds

Scottish Widows is committed to being a responsible investor on behalf of our customers, with particular focus on Stewardship, Ethical investment and Environmental, Social and Governance (ESG) issues. As part of our ongoing governance process, we have reviewed our Ethical and Environmental funds and we are making some changes as a result.

The funds affected are:

  • Scottish Widows Ethical OEIC fund
  • Scottish Widows Ethical pension fund
  • Scottish Widows Ethical life fund
  • Scottish Widows Environmental Investor OEIC fund
  • Scottish Widows Environmental Investor pension fund
  • Scottish Widows Environmental Investor life fund

We are writing to all customers invested in these funds, but in summary the main changes are:

In all cases, the funds’ Fund Aim or Investment Objective and Investment Policy will remain broadly the same, but we will make some small changes to provide clarity.

The Ethical Criteria will be updated to better reflect current ESG issues, and because the funds will now use negative screening criteria rather than both negative and positive criteria.*

The Advisory Body, which is responsible for agreeing the ethical criteria which determine the funds’ investment universe, will be replaced by the Scottish Widows investment committee and Aberdeen Asset Management’s Responsible Investment team.

There will be no changes to the funds’ Investment Approaches. But the funds will hold a smaller number of stocks going forward, so an additional risk arises which investors should be aware of: Investing in a limited number of company shares can carry more investment risk than a wider portfolio. If any of these investments fall or rise in value, it may have a greater effect on the fund’s overall value than if a larger number of investments were held.

We believe that these changes will better reflect current ESG concerns and give greater clarity to investors about how their fund will be run and how the screening criteria will be applied.

Further Information: We have provided more information about the changes we’re making to the funds in these Q&A documents:

We will begin to implement these changes from 24 July 2015.

* ‘Negative screening’ means using a fund’s agreed screening criteria to exclude undesirable investments, such as shares in companies which sell weapons or tobacco. ‘Positive Screening’ favours investments in companies with strong records in areas like the environment, sustainability or diversity.

Important changes to Scottish Widows Pension Investment Approaches and Governed Investment Strategies as a result of new pension freedoms introduced in April 2015

Changes to pensions

Background

Changes introduced from April 2015 allow you greater flexibility in how you can take benefits from your pension pot. Investors in UK pensions now have three ways to use their pension pot at age 55 or above to provide for their retirement. You could choose one or more of the following:

  • Annuity Purchase – buying one or more annuities to provide a regular and secure income for life
  • Pension Encashment – taking all (or part of) a pension pot as a cash lump sum, 25% of which will be tax-free with the remainder subject to tax
  • Flexible Access – adopting a flexible approach by using a suitable product to keep a pension pot invested and then taking income as it is needed or lump sums as they are needed.

Scottish Widows has conducted significant customer research and worked with independent research specialists Moody's Analytics to identify how we can help meet our customers' needs in this new pensions environment.

What are we changing?

We've introduced new options to our existing Pension Investment Approach (PIA) and Governed Investment Strategy (GIS) risk categories, to take account of the retirement choices available to you.

We now offer three different 'retirement outcomes', designed to prepare your pension investment in its last five years for whichever retirement choice you expect to make. In addition to the original retirement outcome designed for those planning to buy an annuity, we have added a 2nd outcome for those who plan to encash their fund, and a 3rd outcome for customers who will want flexible access and plan to move into a suitable product so they can stay invested.

This means that you have two selections to make when you make your investment choice:

  • The level of risk you are comfortable with – Adventurous, Balanced or Cautious
  • The type of retirement outcome you currently believe you will want when you retire – Targeting Annuity, Targeting Encashment or Targeting Flexible Access.
The table below shows the new options in full:
Adventurous risk category Balanced risk category Cautious risk category
Adventurous (Targeting Annuity) Balanced (Targeting Annuity) Cautious (Targeting Annuity)
Adventurous (Targeting Encashment) Balanced (Targeting Encashment) Cautious (Targeting Encashment)
Adventurous (Targeting Flexible Access) Balanced (Targeting Flexible Access) Cautious (Targeting Flexible Access)

Lifestyle Switching Explained

Our PIA and GIS risk categories all work in a similar way: the difference between them is how much investment risk they take in trying to help your pension fund grow. In the earlier years, more of your money is invested in equities to increase the potential for growth. We then begin to gradually reduce your exposure to risk once you are 15 years from your selected retirement date. Although this has the effect of reducing the potential for growth, it aims to help protect what you've built up during the run-up to your selected retirement date.

Until five years from retirement the 'investment glidepath' for your selected risk category is the same, regardless of which retirement outcome you are targeting. In the final five years leading up to your selected retirement date your investment will gradually move into one of three carefully selected packages of lower-risk investments. These are different for each retirement outcome, tailored to suit whichever one you have chosen.

The graph below demonstrates how this works, showing a typical 'investment glidepath'. Please note that this graph indicates how the overall level of risk changes at different stages, not the likely performance of an investment.

Investment glidepath infographic

The value of an investment is not guaranteed and may go up and down depending on investment performance (and currency exchange rates where a fund invests overseas). You may get back less than your original investment. In addition any income from shares in an OEIC or ISA fund can go down as well as up. Past performance is not a reliable indicator of future results.

Please note that not all of our funds are available for every product or contract.

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