F&C Fixed Annuity Conversion 4 Acc
|Bid Price||-||Offer Price||-|
|Mid Price||GBX 129.70||Day Change||GBX +0.60 (0.46%)|
|Price Date||31 Jan 2017||Crown Rating|
|Shares Class||Inc.||Yield||2.00 %|
|Total Expense Ratio||0.00||Fund Size||108,330,300.00|
|Launch Date||08/06/2012||Standard Initial Charge (%)||0.00|
|Annual Management Charge (%)||0.00||Sector||IMA UK Equity Income|
|Min Investment (£)||10,000.00||Total Expense Ratio (%)||0.00|
|ISIN||GB00B4XRWC12||Min TopUp (£)||10,000.00|
The Fund seeks to provide a total return and to match a benchmark that is designed to move in line with annuity prices with the aim of reducing the annuity conversion risk for preretirement funds. The Fund will invest predominantly in gilts and inflation-linked gilts and use interest rate, inflation and gilt derivatives designed to reduce the impact of adverse changes in average annuity rates as a result of changes in interest rates.
Alex Soulsby joined the Group in July 2006 and is Head of Liability Driven Investment. He has spent the last 9 years managing the LDI investments for pensions and insurance clients. Prior to joining, Alex worked at JP Morgan where he spent 8 years as an interest rate specialist, modelling exotic derivatives and subsequently structuring derivatives hedges for UK financial institutions. Alex has a BSc in Economics from LSE and a BA in Philosophy and Politics from the University of Durham.