|Bid Price||-||Offer Price||-|
|Mid Price||GBX 144.10||Day Change||GBX +1.10 (0.77%)|
|Price Date||31 Jan 2017||Crown Rating|
|Shares Class||Inc.||Yield||0.90 %|
|Total Expense Ratio||0.00||Fund Size||73,454,300.00|
|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||GB00B4RDZT30||Min TopUp (£)||10,000.00|
The Fund seeks to provide a total return and to match a benchmark based on inflation-linked annuity prices with the aim of reducing the annuity conversion risk for pre-retirement 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 and inflation rates. The Fund may also invest at the Manager's discretion in transferable securities, money market instruments, cash, near cash and other derivative instruments and forward transactions. Derivatives will be used for meeting the investment objective of the Fund as well as for efficient portfolio management purposes.
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.