INVESTMENT OPTIONS. - Legal & General

1 

INDIVIDUAL 

Individual AND GROUP 

AND 

pensionS 

GROUP 

– Investment 

PENSIONS 

options 

INVESTMENT OPTIONS. 

This is an important document. Please keep it safe for future reference. 

INSURANCE. SAVINGS. 

INVESTMENT MANAGEMENT.

2 Individual AND GROUP pensionS – Investment options 

INVESTMENT OPTIONS. 

This brochure explains the funds that are available for the following pension plans: 

Buy Out Plan (BOP) 

Company Pension Plan (CPP) 

Company Sponsored Additional Voluntary Contribution Scheme (CSAVC) 

Directors Pension Plan (DPP) 

Executive Investment Retirement Plan (EIRP) 

Executive Pension Plan (EPP) 

Pension Savings Plan (FSAVC) 

Pension Investment Plan (PIP) 

Personal Investment Pension Plan (PIPP) 

Personal Pension 2000 (PP2000) 

Personal Pension Scheme No.1 (PP No.1) 

Self Employed Plan (SEP) 

Self Invested Personal Pension (SIPP) 

Self Invested Personal Pension 2000 (SIPP2000) 

Stakeholder Pension (SHP) 

Trustee Investment Plan (TIP) 

These refer to both Individual and Group versions where applicable. 

We have separate fund brochures for our Portfolio Plus range of products.

Individual AND GROUP pensionS – Investment options 

3 

QUESTIONS AND ANSWERS. 

WHAT IS AN INVESTMENT FUND? 

When you invest in your pension plan you can put 

your money into one, or more investment funds. 

Each fund is divided into a number of units. Each 

time you make a payment into your plan we buy you 

some of these units in your chosen fund, or funds. 

Alternatively, rather than selecting your funds, you 

can invest in one of our Lifestyle Profiles which are 

explained on page 22. 

HOW IS MY INVESTMENT VALUED? 

For investments in our With Profits Fund 

• If you’re invested in our With Profits Fund, the 

value of your investment will normally grow 

when bonuses and any amounts we’ve previously 

committed to paying are added to your plan. 

Further details about how we value your With Profits 

investment are contained in our An introduction to 

Unitised With Profits guide which is available on 

request from your adviser. 

For investments in our unit-linked funds 

• If you’re interested in one of our unit-linked funds, 

it’s the unit price that determines how many units 

you buy and how much they’re worth when you 

sell them. 

Internal funds 

• Each day we calculate a unit price. 

• We use the general principle that if investments into 

the fund are greater than withdrawals, we need to 

buy assets. The unit price then takes account of the 

prices at which assets in the fund might be bought 

and the costs of purchasing those assets. Buying 

prices are generally higher than selling prices. 

• If withdrawals from the fund are greater than 

investments, we need to sell assets. The unit price 

then takes account of the prices at which assets 

might be sold for, together with the sale costs. 

Selling prices are generally lower than buying prices. 

• The difference between the values determined by 

each method of calculation is known as the ‘spread’. 

The amount of the spread usually depends upon 

the assets the fund invests in. The costs associated 

with buying or selling assets, such as stockbroker 

commissions, surveyor’s fees and stamp duty/taxes, 

will vary by asset type, country and company size. 

• The ‘spread’ is not a fixed amount and varies 

depending on market conditions, taxes 

and costs. 

• Funds that invest in commercial property, certain 

corporate bonds, smaller companies or emerging 

markets tend to have a larger dealing spread than, 

for example, funds such as the UK Equity 

Index Fund. 

• A significant change in the amount of money going 

into or out of the fund on a particular day may lead 

to a change in the method of calculation for that 

day’s valuation. This could result in a significant 

change in the unit price. 

The current spreads applicable to the unit-linked 

funds we manage are included in the Fund 

information section starting on page 8. 

Further details about how we value unit-linked funds 

and calculate unit prices are contained in our A guide 

to how we manage our unit-linked funds, which is 

available on request from your adviser. 

External funds 

• When calculating the unit price for our version of 

the fund, we use the price supplied by the external 

fund manager. 

Further details about managing and valuing external 

funds are contained in the Member’s Policy Booklet. 

WHAT ARE INVESTMENT ASSETS? 

Assets are what the funds invest in. They have 

a significant effect on the performance of your 

investment. It’s therefore important that you 

understand the differences between the main 

types of assets. 

There are four main types of asset and each has its 

own characteristics: 

• Equities 

• Fixed interest securities 

• Commercial property 

• Cash 

It’s generally a good idea to invest in a number of 

different assets within an asset type so that you do 

not rely on the performance of one individual asset. 

This strategy, called ‘diversification’, is basically what 

funds offer as they spread your investment across 

lots of assets. 

Many funds also invest in more than one type of 

asset to create even more diversification. Investing 

in a mix of funds is another good way to spread 

your investment.


WHAT ARE EQUITIES? 

Equities are the asset commonly known as ‘shares’. 

Equities can achieve growth in two ways: 

• Through increases in share prices. The share price 

reflects the underlying value of the company. 

• Through dividends, which are regular payments 

made to shareholders generally based on the 

company’s annual profits. 

Investing in equities is considered by many investment 

experts to be one of the best ways to achieve long 

term growth. However, over the short term, the value 

of funds investing in equities can go up and down 

a lot. Share prices can also change dramatically in 

response to the activities and financial performance of 

individual companies, as well as being influenced by 

general market and economic conditions. 

WHAT ARE FIXED INTEREST SECURITIES? 

Fixed interest securities are more commonly known 

as ‘bonds’. They are essentially a loan, usually to a 

company, or sometimes a government. 

The company or government pays regular interest 

on the loan and pays back the original capital in full 

at a set date in the future. Your return from a fund 

investing in fixed interest securities comes from the 

interest the company or government pays and the 

market value of the securities. 

The value of funds investing in fixed interest securities 

can go up and down. They tend to go up and down 

less than funds investing in equities, although the 

potential returns are often lower. The value of bonds 

is particularly sensitive to changes in interest rates. 

As a rule, the value is more likely to fall when interest 

rates are rising. 

If a fund invests in a corporate company that 

performs poorly, there is a risk that company will not 

be able to pay back the loan or the interest owed. 

Some companies offer more risky bonds paying 

high interest rates, known as ‘sub-investment grade 

bonds’, where the risk of non-payment is higher. 

Government bonds generally carry less risk than 

company bonds, but as a result often pay less interest. 

WHAT IS COMMERCIAL PROPERTY? 

An investment in commercial property usually means 

that you are buying a share in the ownership of a 

number of buildings. These buildings might be office 

blocks, shopping units, retail warehouses, industrial 

units or leisure centres. 

Commercial property investments can provide 

growth in two ways: 

• Through rises in the value of the property. 

• Through rent paid by the tenants of the buildings. 

Property valuations are based on a valuer’s opinion 

rather than fact, so they may be revised up or down 

from time to time. This can affect the value of a fund 

invested in commercial property. 

Commercial properties can sometimes be difficult to 

buy and sell quickly. It may be necessary for the fund 

manager to postpone meeting customer requests to 

withdraw money from a property fund until they can 

sell some of the buildings the fund invests in. 

WHAT IS A CASH INVESTMENT? 

Some funds keep a proportion of your money in cash. 

This is useful as it adds flexibility to your asset mix 

and aids stability. 

The growth potential for cash is low, so if your fund 

does include some cash element, it tends to account 

for only a small percentage of the total fund. Basically, 

cash generally offers the lowest risk of all asset types, 

but also the lowest potential returns. 

WHAT ABOUT SPECIALIST INVESTMENT FUNDS? 

In addition to the risks and characteristics of the 

individual asset types, specialist investments have 

other features that are unique to where they invest. 

They usually invest in a particular market, country or 

region. They allow you to exploit the characteristics 

of a particular type of investment and tend to aim 

for high performance compared with more balanced 

funds. They are likely to be more risky than funds 

holding a very wide spread of assets. 

WHAT ABOUT OVERSEAS INVESTMENTS? 

Overseas investments allow you to take advantage of 

the growth potential of markets outside the UK. 

Currency values can have an effect on performance. 

This is because the value of funds holding overseas 

investments are often converted from local currency 

into pounds (sterling) so the value can fall if the pound 

strengthens against the local currency.


5 

WHAT HAPPENS WHEN I INVEST IN AN 

EXTERNAL FUND? 

When you invest in an external fund, we buy you 

units in a Legal & General fund that invests in the 

corresponding ‘authorised fund’. You don’t hold units 

directly in the authorised fund. Authorised funds are 

explained in the What is an authorised fund? 

section below. 

Please bear in mind that we don’t have any influence 

over how external fund managers manage their funds. 

WHAT IS AN AUTHORISED FUND? 

There are two types of authorised fund: 

• A unit trust. 

• An Investment Company with Variable Capital, 

more commonly known as an Open-Ended 

Investment Company (OEIC). 

About unit trusts 

The fund manager sets up a trust and appoints an 

independent financial institution, such as a bank to 

act as the trustee. The trustee is entrusted to look 

after the assets that the fund invests in and to monitor 

the fund manager, on behalf of the beneficiaries. 

The beneficiaries of a unit trust are the people who 

invest in it. 

About OEICs 

An OEIC is like a company, but not in the traditional 

sense as it’s simply an arrangement for investment. 

The fund manager is usually the director of the 

company and investors receive shares in the 

company. An OEIC has an independent depositary, 

usually a financial institution like a bank, who is 

entrusted with the safekeeping of the assets that the 

fund invests in. A depositary is similar to the trustee 

of a unit trust. 

OEICs usually offer a number of different choices by 

using ‘sub funds’ which have different investment 

aims. Because an OEIC has a number of sub funds, it 

may become necessary in exceptional circumstances 

for the liabilities of one sub fund to be met by all 

the other sub funds in the OEIC. Whilst this could 

affect the performance of your fund, you’d never be 

personally responsible for any debts of the OEIC and 

would not be required to make further payments 

after investing.


THE FUNDS. 

The information provided for each fund is as accurate and current as we can make it. 

For external funds we rely on the information provided by the companies managing them. 

The information in this document is correct as at April 2011. 

Not all the funds are available for all pension plans. At the start of each section we have 

listed the pension plans that the funds are available for. There is also a Quick Reference 

guide starting on page 32 that shows this information in an easy to read table. 

LIFESTYLE PROFILES 

An alternative investment option to choosing a fund, 

or funds, is to choose a Lifestyle Profile. Please see 

page 22 for information about Lifestyle Profiles and 

details of those available for the different 

pension plans. 

THE FUND INFORMATION HEADINGS EXPLAINED 

The information for each fund, except the With Profits 

Fund which works differently to our unit-linked funds, 

is set out as shown in the example below: 

Fund aim 

This is a general description of what the fund aims 

to achieve, as stated by the company managing the 

fund. There is no guarantee the fund manager will 

achieve the aim, and it is not a statement of what 

will actually happen. It is important to consider that 

the performance of a fund may not match your 

expectation, particularly in the short term. 

EFAMC 

For external funds there will be an External Funds 

Annual Management Charge (EFAMC). The EFAMC 

percentage is shown with each fund description. 

However, under Stakeholder plans your Total 

Annual Management Charge will not exceed the 

Government’s maximum permitted charge for 

Stakeholder pensions at any given time. Please see 

your Member’s policy booklet for further information. 

Fund specific risks 

In addition to the general risks of investing in a 

particular product, each fund carries some risks 

specific to the type(s) of assets it invests in. 

We make regular assessments of all the funds we 

offer and then decide which risks apply to each fund. 

Our assessment takes account of: 

To find out what the fund specific risk numbers 

applied to each fund mean, please go to the Fund 

specific risk definitions section on page 31 of 

this guide. 

Some funds have many fund specific risks. This does 

not necessarily mean that investing in that fund is 

riskier than choosing one with less fund specific risks. 

A fund often has more fund specific risks because it 

invests in a wider variety of assets. 

What is important is the percentage of the fund that 

is exposed to each risk. A significant exposure to one 

risk can lead to a fund rising and falling in value more 

than one with a low exposure to several risks. 

For example: 

• Fund A invests 20% in overseas equities, 30% in UK 

equities and 50% in fixed interest securities. It has 

four fund specific risks. 

• Fund B invests 100% in overseas equities. It only 

has two fund specific risks. 

Fund B has fewer fund specific risks but because 

all of the investment is exposed to equities and 

the exchange rate risk, it is likely to be a higher risk 

fund than Fund A, where the investment is divided 

between a spread of risks. 

Investing in a fund with a mix of assets can reduce 

the impact of each fund specific risk. Alternatively, 

you can create an investment portfolio that invests 

in a mix of funds. 

Underlying fund type 

For external funds this tells you if the fund is invested 

in a unit trust or a sub fund of an OEIC as explained in 

the What is an authorised fund? section on page 5. 

For funds managed by Legal & General the underlying 

fund type is not included as they’re not directly 

invested in unit trusts or OEICs. 

The fund’s aim. 

• The assets the fund invests in. 

• The fund manager’s own opinion of the risks that 

apply to their fund.


7 

SPREAD 

This is the difference between the value of the units calculated assuming that more money is going into the fund than 

going out, and the value based on more money going out of the fund than going in. These figures are correct as at 28 

February 2011. The dealing spread may change from time to time. We can provide you with the spread applying to a 

fund at any time on request. 

LEGAL & GENERAL EXTERNAL EXAMPLE FUND 

Fund aim: To achieve long-term capital growth. 

EFAMC: 0.85% pa Fund specific risks: 12, 14, 19 

Underlying fund type: OEIC Spread: 0.73%


FUND INFORMATION. 

The following pages provide: 

• details of the pension plans the funds are available for, 

• a brief introduction to each fund manager, 

• the individual aim of each fund, 

• the fund specific risks applicable to that fund, 

• the underlying fund type and EFAMC where applicable, and 

• the spread where applicable. 

Please go to the Fund specific risk definitions section on page 31 of this guide if you haven’t done so already, 

as you need to cross-reference the fund specific risk numbers. 

FUNDS MANAGED BY LEGAL & GENERAL 

The following funds are available to all pension plans: 

Legal & General Group 

The Legal & General Group, established in 1836, is one of the UK’s leading financial services companies. 

As at 31 December 2010, we were responsible for investing £365 billion worldwide on behalf of investors, 

policyholders and shareholders. We also had over seven million customers in the UK for our life assurance, 

pensions, investments and general insurance plans. 

LEGAL & GENERAL CASH FUND 

Fund aim: To provide capital protection with growth at short-term interest rates. The fund invests in the 

short-term money markets, such as bank deposits and Treasury Bills. 

Notes 

A. The fund does not invest in any asset types where the capital value can fall, such as fixed interest securities. 

The value of the fund’s assets would only fall if a deposit holder or the UK Government were unable to meet 

their obligations. 

B. If the interest earned by the fund’s assets is insufficient to cover the product charges, the value of your 

pension fund will fall. 

Fund specific risks: 24 Spread: 0.03% 

LEGAL & GENERAL CONSENSUS FUND 

Fund aim: The fund combines the long-term growth potential offered through UK and overseas equities with 

the relative security provided by gilts, bonds and cash. The assets held within the fund are passively managed 

and based on the average investment mix of a large number of major pensions funds using the three-monthly 

Combined Actuarial Performance Survey (excluding property). 

Fund specific risks: 12, 13, 14, 24 Spread: 0.73% 

LEGAL & GENERAL DISTRIBUTION FUND 

Fund aim: The fund is a balanced fund and its investments include equities, fixed interest securities and property. 

The fund aims to offer good long-term growth potential through a combination of capital growth and reinvested 

income, from a cautious, balanced portfolio, and is actively managed to achieve this objective. 

Fund specific risks: 12, 13, 14, 16, 17, 23 Spread: 1.38% 

LEGAL & GENERAL EQUITY FUND 

Fund aim: To maximise the investment return by investing in a very broad mix of mainly UK companies. 

Fund specific risks: 13, 19 Spread: 1.29%


9 

LEGAL & GENERAL ETHICAL FUND 

Fund aim: The fund is set up in such a way that it aims to reflect the performance (before charges) of the 

FTSE 350 index, not including companies whose business does not keep to a range of ethical and 

environmental guidelines. 

Fund specific risks: 13, 19, 27 Spread: 0.87% 

LEGAL & GENERAL EUROPEAN FUND 

Fund aim: To provide the potential for long-term growth by investing in a portfolio exclusively invested directly or 

indirectly in European securities, other than those of the UK, which may be selected from all economic sectors. 

Fund specific risks: 12, 13 Spread: 0.77% 

LEGAL & GENERAL EUROPEAN EQUITY INDEX FUND 

Fund aim: The fund is set up in such a way that its performance (before charges) aims to reflect that of the 

FTSE Europe (excluding UK) Index with income reinvested. 


LEGAL & GENERAL FAR EASTERN FUND 

Fund aim: To provide the potential for long-term growth by investing directly or indirectly into a portfolio of Far 

Eastern securities, which may be selected from all economic sectors. 


LEGAL & GENERAL FIXED INTEREST FUND 

Fund aim: To maximise the overall returns from interest received and capital values of a portfolio of investments 

in British Government stocks and other readily marketable fixed interest securities. This may also include quoted 

marketable stocks of overseas governments and companies. 


LEGAL & GENERAL INDEX LINKED GILT FUND 

Fund aim: To get the best return from a portfolio of mainly index-linked securities issued predominantly by the 

UK Government. 


LEGAL & GENERAL INTERNATIONAL FUND 

Fund aim: The fund seeks to secure long-term capital growth from a widespread portfolio of international 

securities. Occasionally shares of UK companies, a large proportion of whose profits arise from overseas 

earnings, may be included. 


LEGAL & GENERAL JAPANESE EQUITY INDEX FUND 


FTSE Japan Index with income reinvested. 



LEGAL & GENERAL MANAGED FUND 

Fund aim: To seek steady long-term growth, whilst at the same time safeguarding the fund against excessive 

risks. It invests principally in UK and international equities but also has some exposure to fixed interest 

securities, UK commercial property and cash, thus offering a more diversified investment than a pure 

equity fund. 


LEGAL & GENERAL NORTH AMERICAN FUND 

Fund aim: To provide the potential for long-term growth by investing directly or indirectly into a portfolio of US 

securities, which may be selected from all economic sectors. 


LEGAL & GENERAL PROPERTY FUND 

Fund aim: To get the best return from a portfolio of first class freehold and leasehold interests in commercial 

and industrial property. This includes industrial warehouse buildings, shopping units and office blocks. It is 

also permitted to invest up to 15% in other external property funds in order to take advantage of investment 

opportunities in niche or specialist sections. 


LEGAL & GENERAL UK EQUITY INDEX FUND 


FTSE-All Share Index with income reinvested. 


LEGAL & GENERAL UK RECOVERY FUND 

Fund aim: To secure capital growth from UK securities which offer recovery prospects. The fund managers will 

select shares whose prices are believed to be undervalued and which generally do not reflect earnings potential. 


LEGAL & GENERAL UK SMALLER COMPANIES FUND 

Fund aim: The fund seeks to maximise capital growth from a portfolio of UK securities consisting largely of UK 

smaller companies selected from all economic areas. The fund primarily invests in companies which comprise 

the lowest 10% by capitalisation of the UK equity market. 


LEGAL & GENERAL US EQUITY INDEX FUND 


FTSE USA Index with income reinvested. 



11 

The following funds are only available for the following pension plans: 

Personal Pension 2000 plans 

Self Invested Personal Pension 2000 plans 

Stakeholder Pension plans 

Trustee Investment Plans that started after November 1999 

LEGAL & GENERAL GLOBAL EQUITY 70:30 INDEX FUND 

Fund aim: The fund benefits from the returns of the UK and overseas equity markets by investing 70% in our UK 

Equity Index Fund and 30% in our overseas equity index funds. The overseas equities within the fund are based 

on the average investment mix of a large number of major pension funds using the three-monthly Combined 

Actuarial Performance Survey (excluding property). 


LEGAL & GENERAL GLOBAL EQUITY FIXED WEIGHTS 60:40 INDEX FUND 

Fund aim: The fund benefits from the returns of the UK and overseas equity markets by investing 60% in our 

UK Equity Index Fund and 40% in our overseas equity index funds. The overseas portion is split 14% North 

America, 14% Europe (not including the UK), 6% Japan, and 6% Pacific Basin (not including Japan). The fund 

aims to match these percentages but they could change. 



Personal Pension 2000 plans that started on or after 6 April 2001 

Self Invested Personal Pension 2000 plans that started on or after 6 April 2001 


LEGAL & GENERAL GLOBAL EQUITY FIXED WEIGHTS 50:50 INDEX FUND 

Fund aim: To capture the sterling total returns of the UK and overseas equity markets with fixed asset allocation 

between the UK (50%) and overseas (50%). The overseas exposure is divided 17.5% in Europe (not including 

UK), 17.5% in North America, 8.75% in Japan and 6.25% in Asia Pacific (not including Japan). 


LEGAL & GENERAL OVER 15 YEAR GILTS INDEX FUND 

Fund aim: To track the total return of the FTSE-A Government (Over 15 Year) Index to within +/- 0.25% each year 

for two years in three. 



The following fund is only available for the following pension plans: 

Buy Out Plans 

Company Pension Plans 

Company Sponsored Additional Voluntary Contribution Schemes 

Directors Pension Plans 

Executive Pension Plans 

Pension Investment Plans 


Personal Pension Scheme No.1 plans 

Pension Savings Plans 

Self Employed Plans 


Trustee Investment Plans that started before November 1999 

LEGAL & GENERAL WITH PROFITS FUND 

The With Profits Fund works differently from all our 

other investment funds. Any contributions into 

With Profits are combined with those of other 

investors and invested primarily in a broad mix of 

shares, Government and corporate stocks and UK 

commercial property. We aim to smooth returns to 

investors so that some of the short-term fluctuations 

in the value of the underlying investments are not 

immediately reflected in payments under 

With Profits policies. 

Your plan benefits from the addition of any bonuses. 

Bonus rates are not guaranteed and depend mainly 

on the long-term investment performance of the 

underlying investments. Existing investors in 

With Profits may be entitled to other contractual 

additions. You can find details of these in your 

plan document. 

Annual bonus 

We may add an annual bonus each year. Annual 

bonuses are normally declared at the end of each 

calendar year. Once annual bonuses are added they 

cannot be withdrawn. 

Final bonus 

We may pay a final bonus: 

• when you reach your Selected Retirement Age; 

• if you take your benefits early; 

• if you die; 

• if you switch to another fund. 

Final bonus rates fluctuate and can be changed or 

removed without notice. 

Guarantees and options 

Any investment in With Profits will share in the 

risks of other With Profits pension plans, which 

can reduce your bonuses and therefore the amount 

we pay you. You also share in the risks of other 

With Profits policies such as bonds. 

We write With Profits and Non Profit policies (that 

is policies which are not eligible for bonuses) in our 

With Profits Fund. We provide guarantees for both 

With Profits and Non Profit policies and the assets in 

the whole fund are ultimately available to meet them. 

This means that although you may benefit from support 

from the assets backing Non Profit business, we could 

reduce the amount we pay you if we have to use the 

assets backing With Profits business to support 

Non Profit business. 

Market Value Reduction (MVR) 

We may reduce the value of your policy by applying 

an MVR if you: 

• transfer to another pension arrangement; 

• switch into another investment choice; 

• take your benefits before your Selected 

Retirement Date. 

This may happen if, for example, the actual return on 

the underlying investments is less than that required 

to support the bonuses to which you are eligible. 

It will also account for additional deductions that 

may be required to cover the cost of guarantees and 

options for With Profits policies. 

If you want more information about MVRs contact us 

on 03459 932 584 Mon–Fri 9am–5pm. Call charges will 

vary. We may record and monitor calls. 

Availability 

Please note that investments in With Profits stop 

participating in profits after your Selected Retirement 

Date. You cannot invest in With Profits in any of the 

following situations: 

• If you are within five years of your Selected 

Retirement Date, you cannot pay any single or 

special contributions or any transfer values into 

With Profits. 

• If you are within five years of your Selected 

Retirement Date, you cannot switch your existing 

pension fund and/or any on-going contributions 

into With Profits. 

• If you choose to defer taking your pension after 

your Selected Retirement Date, you cannot 

continue to invest in With Profits.


13 

Further information on With Profits 

You can ask your adviser for a copy of our 

An Introduction to Unitised With Profits guide, 

which explains the particular features of With Profits 

investments and describes how we managed our 

unitised With Profits investments. 

A more detailed description of With Profits is 

contained in a document called Principles and 

Practices of Financial Management (PPFM) which is 

available on request. 

FUND MANAGERS OTHER THAN LEGAL & GENERAL 





Trustee Investment Plans that started after June 2002 

Aberdeen Unit Trust Managers Limited 

Aberdeen Asset Management PLC is an international investment management group, managing assets for both 

institutional and private clients from offices around the world. Their clients access investment expertise across 

the three asset classes: equities, fixed income and property. They currently have over £183.3 billion total group 

funds under management and advice as at 31 December 2010. (Source: Aberdeen Unit Trust Managers Limited) 

LEGAL & GENERAL ABERDEEN LIFE GLOBAL (EX UK) EQUITY FUND 

Fund aim: To provide exposure to an actively managed portfolio of overseas equities – an asset class that is 

expected to provide long-term returns that are ahead of inflation. 

EFAMC: 0.15% Fund specific risks: 12, 13, 20, 21 

Underlying fund type: 

OEIC 

LEGAL & GENERAL ABERDEEN LIFE GLOBAL GROWTH FUND 

Fund aim: To maximise the value of pensions savings, achieving long-term returns that are ahead of inflation 

through active investment primarily in UK and overseas equities. 

EFAMC: 0.15% Fund specific risks: 12, 13, 21 


OEIC 

LEGAL & GENERAL ABERDEEN LIFE MULTI-ASSET (EX PROPERTY) FUND 

Fund aim: To maximise the value of pension savings, achieving long-term returns that are ahead of inflation. 



OEIC 

LEGAL & GENERAL ABERDEEN LIFE UK EQUITY FUND 

Fund aim: The fund is actively managed and provides exposure to UK equities. It aims to outperform its 

benchmark which is currently calculated using index returns. 

EFAMC: 0.15% Fund specific risks: 13, 20 


OEIC


Allianz Global Investors UK 

Allianz Global Investors, a division of Allianz SE, is a network of investment specialists in the major 

institutional and retail markets around the world. Through PIMCO, RCM, Oppenheimer Capital, NFJ, 

Nicholas-Applegate and several other specialist firms Allianz Global Investors offers its clients a broad 

variety of investment competencies, covering all equity and fixed income investment styles as well as 

balanced products and alternative investments. With globally €1,139 billion assets under management (as 

at 30 June 2010), Allianz Global Investors ranks amongst the top five investment management companies 

worldwide. Through its network of more than 4,600 employees around the globe, including circa 930 

investment professionals, Allianz Global Investors is able to leverage local expertise and market knowledge 

to its clients all over the world. (Source: Allianz Global Investors UK) 

LEGAL & GENERAL ALLIANZ RCM DYNAMIC GROWTH FUND 

Fund aim: To achieve long-term capital growth through active asset allocation and seeks to manage the risks 

of capital loss resulting from excessive market volatility. The fund manager aims to achieve the objective 

by investing in any economic sector internationally and by holding cash and/or near cash when considered 

appropriate. The fund may invest in collective investment schemes as well as directly in equities, fixed 

income securities (issued by corporate, government and/or supranational institutions) and money market 

instruments. 

The fund manager intends to gain indirect exposure to emerging market indices and alternative asset class 

indices including, but not limited to, private equity, commodities, hedge funds and real estate by investing 

in collective investment schemes, including exchange traded funds. The fund may also invest in derivative 

instruments such as futures, options, options on swaps, swap agreements (including equity and/or index 

based total return swaps, interest rate swaps and/or credit default swaps) and currency forward contracts. 

The fund may use options in order to generate synthetic cash positions. In particularly adverse market 

conditions the fund may also hold cash deposits up to 80% of the portfolio. 

IMPORTANT NOTE: The risk profile of the fund will increase through investment in derivative instruments 

and you should seek further advice with regard to your own circumstances. 


Underlying fund type: OEIC 

LEGAL & GENERAL ALLIANZ RCM UK EQUITY FUND 

Fund aim: To achieve capital growth. The fund may invest in all economic sectors in the United Kingdom. 

The fund aims to achieve the objective by investing in a broadly based portfolio of UK companies. 

EFAMC: 0.15% Fund specific risks: 20 

Underlying fund type: OEIC


15 

GLG Partners Investment Funds Limited 

Founded in 1995, GLG has established itself as one of the largest independent alternative asset managers 

in the world. GLG offers a diverse range of investment products encompassing equities, fixed interest 

and alternative investments. GLG’s investment products aim to achieve consistent superior returns whilst 

maintaining client focused product development and customer service within traditional and alternative 

asset management. Funds under management as at 30 September 2010 were $25.4 billion. 

(Source: GLG Partners Investment Funds Limited) 

LEGAL & GENERAL GLG BALANCED FUND 

Fund aim: To provide capital growth over the long term. In order to achieve the funds objective, the fund 

invests in authorised unit trust schemes and open-ended investment companies operated or managed by the 

Manager or any of its associated companies. 

EFAMC: 0.15% Fund specific risks: 12, 13, 14, 19, 21 


LEGAL & GENERAL GLG ESPRIT CONTINENTAL EUROPE FUND 

Fund aim: To achieve above average capital growth through investing in the quoted securities of companies 

listed on European Stock Exchanges. To achieve the objective the fund is predominantly invested in securities 

of companies operating in Continental Europe. The fund invests in those securities which are believed to 

present special opportunities for capital growth. The fund may also invest in other investments to the extent 

permitted by the FSA Rules as applicable from time to time. 

EFAMC: 0.15% Fund specific risks: 12, 13, 19, 


OEIC 

LEGAL & GENERAL GLG GLOBAL EQUITY FUND 

Fund aim: The fund invests in a portfolio of GLG’s institutional funds, to produce exposure to UK and overseas 

equity markets. The portfolio’s asset allocation is formally reviewed on a monthly basis by GLG’s Asset 

Allocation Group which meets to consider key economic, financial and stockmarket data. 

EFAMC: 0.15% Fund specific risks: 12, 13, 14, 19, 21 


LEGAL & GENERAL GLG UK GROWTH FUND 

Fund aim: To achieve capital growth through investing in the quoted securities of companies operating in the 

United Kingdom. To achieve the objective, the fund is predominantly invested in the securities of companies 

listed on the London Stock Exchange, being constituents of the FTSE 350 Index. The majority of the securities 

held will be in companies which are constituents of the FTSE 100 Index, but a representation in the mid-cap 

area may also be maintained. 




JPMorgan Asset Management Ltd 

JPMorgan Asset Management (UK) Ltd was established in 1974. JPMorgan Asset Management (UK) Ltd 

belongs to a group of companies operating under the name of JPMorgan Asset Management, established 

in 1873. Assets under management as at 31 December 2009 were USD 1.2 trillion. 

(Source: JPMorgan Asset Management) 

LEGAL & GENERAL JPM LIFE GROWTH FUND 

Fund aim: To achieve superior returns by investing in shares of a broad range of worldwide markets, including 

emerging markets. 



LEGAL & GENERAL JPM LIFE MODERATE FUND 

Fund aim: To achieve superior returns by investing in the shares and bonds of a broad range of worldwide 

markets, including some emerging markets. 



LEGAL & GENERAL JPM LIFE UK DISCIPLINED EQUITY FUND 

Fund aim: To achieve strong capital growth by investing in the shares of UK companies. It aims to outperform 

its benchmark, the FTSE All Share Index, by over 1% over 3 years before fees are taken into account. 




17 

Newton (BNY Mellon Fund Managers Limited) 

BNY Mellon Asset Management is the global asset management arm of BNY Mellon, one of the world’s 

major financial services groups. With £754 billion* in assets under management, their multi-boutique model 

encompasses the skills of a number of world class specialist investment managers in their UK fund range, including 

Newton Investment Management (Newton). BNY Mellon Fund Managers Limited (BNY MFM) is the Authorised 

Corporate Director. The investment adviser of the Newton sub-funds is Newton. 

* As at 31 December 2010 (Source: The Bank of New York Mellon Corporation) 

LEGAL & GENERAL NEWTON BALANCED FUND 

Fund aim: To achieve a balance between capital growth and income predominantly from a portfolio of UK and 

international securities. The fund may also invest in derivative instruments, forward transactions and collective 

investment schemes. 

EFAMC: 0.15% Fund specific risks: 12, 13, 14, 17, 19, 21 


LEGAL & GENERAL NEWTON HIGHER INCOME FUND 

Fund aim: To achieve increasing distributions on a calendar year basis with long-term capital growth. 



LEGAL & GENERAL NEWTON INCOME FUND 

Fund aim: To achieve capital growth and income from a portfolio of predominantly UK securities. The fund 

may also invest in collective investment schemes. 



LEGAL & GENERAL NEWTON INTERNATIONAL GROWTH FUND 

Fund aim: To achieve capital growth from a portfolio of international securities. The fund may also invest in 

collective investment schemes. 







Allianz Global Investors UK 

Allianz Global Investors, a division of Allianz SE, is a network of investment specialists in the major institutional 

and retail markets around the world. Through PIMCO, RCM, Oppenheimer Capital, NFJ, Nicholas-Applegate and 

several other specialist firms Allianz Global Investors offers its clients a broad variety of investment competencies, 

covering all equity and fixed income investment styles as well as balanced products and alternative investments. 

With globally €1,139 billion assets under management (as at 30 June 2010), Allianz Global Investors ranks amongst 

the top five investment management companies worldwide. Through its network of more than 4,600 employees 

around the globe, including circa 930 investment professionals, Allianz Global Investors is able to leverage local 

expertise and market knowledge to its clients all over the world. (Source: Allianz Global Investors UK) 

LEGAL & GENERAL ALLIANZ PIMCO STERLING TOTAL RETURN FUND 

Fund aim: To maximise total return by investing predominantly in UK and European bonds. The fund has the 

flexibility to invest in high yield and high grade bonds. 



OEIC 

LEGAL & GENERAL ALLIANZ PIMCO UK CORPORATE BOND FUND 

Fund aim: To maximise total return, consistent with preservation of capital and prudent investment 

management, primarily through investment in fixed income securities issued by corporate bodies as well as 

any other security which is deemed appropriate for the fund. The fund may invest internationally, although 

investment will predominantly be in the UK and Europe. 



OEIC 

Henderson Global Investors Limited 

Founded in 1934, Henderson Global Investors (Henderson) is wholly-owned by Henderson Group plc, 

which is dual-listed on the London Stock Exchange and Australian Securities Exchange. Henderson Group 

is a constituent of the FTSE 250 and S&P/ASX 200 indices. Since 31 October 2008, the Group has been 

incorporated in Jersey and tax-resident in the Republic of Ireland. Henderson Group plc is a focused 

organisation comprising solely of Henderson, the asset management entity of Henderson Group plc. The 

Group’s strategic focus is the development of Henderson as a leading investment manager, based around their 

core fixed income, equity and property capabilities as well as their offering of alternative products, such as 

private equity and hedge funds. With its principal place of business in London, Henderson has over 

USD $84.4 billion assets under management (as at 30 June 2010) employing over 900 people worldwide 

(Source: Henderson Global Investors Limited) 

LEGAL & GENERAL HENDERSON EUROPEAN GROWTH FUND 

Fund aim: To achieve long-term capital growth. The fund will principally invest in the securities of European 

companies. In addition to ordinary shares, the fund may also invest in preference shares, debt securities 

convertible into ordinary stocks and shares, money market instruments, deposits and any other permitted asset 

type deemed appropriate to meet the investment objective. The fund may also invest outside of Europe if the 

investment adviser believes that it is in the interests of the fund. 



OEIC


19 

LEGAL & GENERAL HENDERSON HIGHER INCOME FUND 

Fund aim: To achieve increasing distributions with the potential of long-term capital growth principally through 

investment in the securities of UK companies. In addition to ordinary shares, the fund may also invest in fixed 

interest securities, preference shares, debt securities convertible into ordinary stock and other equity linked 

investments and may also from time to time invest outside Europe. 



LEGAL & GENERAL HENDERSON HIGH YIELD MONTHLY INCOME FUND 

Fund aim: To achieve a high level of income with modest long-term capital appreciation by investing principally 

in fixed and variable rate and index-related securities issued by corporate, government, supranational 

institutions and local and regional agencies, both in the UK and internationally. Fixed and variable and index 

related securities may include, but are not restricted to, treasury bills, certificates of deposit, medium-term 

notes, preference shares, debentures, gilts, corporate bonds, overseas bonds, agency bonds, asset or 

mortgage backed securities or floating rate notes. The fund may also invest in money-market instruments, 

deposits and derivatives and forward transactions. Investments may be denominated in currencies other than 

sterling. Derivatives may be used for meeting the investment objective and for efficient portfolio management. 



LEGAL & GENERAL HENDERSON STERLING BOND FUND 

Fund aim: To achieve a high and stable income by investing principally in sterling denominated fixed interest 

securities including preference shares. The fund may also invest in securities acquired on the conversion of 

convertible securities held within the portfolio, derivatives and forward transactions, warrants originally 

acquired with fixed interest investments, or under a scheme of reconstruction affecting securities in the 

fund, money-market instruments and deposits. The fund concentrates on investment grade corporate bonds. 

Derivatives may be used for meeting the investment objective of the fund and for efficient portfolio management. 



LEGAL & GENERAL HENDERSON UK ALPHA FUND 

Fund aim: To seek capital growth through a relatively concentrated portfolio principally investing in the 

securities of UK companies. In addition to ordinary shares, the fund may also invest in fixed interest securities, 

preference shares, debt securities convertible into ordinary stocks and other equity linked investments and 

may also from time to time invest outside the UK. 




Investec Fund Managers Limited 

Established in 1991, Investec has been built from start-up into an international business managing in excess of 

US £50 billion (as at 30 September 2010) on behalf of third party clients. They have grown from domestic roots 

in the UK and Southern Africa to a position where they proudly serve a growing international client base from 

the Americas, Europe, Asia, the Middle East, Australia and Africa. They employ 100 investment professionals. 

(Source: Investec Fund Managers Limited) 

LEGAL & GENERAL INVESTEC AMERICAN FUND 

Fund aim: To achieve long-term capital growth primarily through investment in a portfolio of equities issued by 

USA companies and in derivatives the underlying assets of which are equities issued by USA companies. 



LEGAL & GENERAL INVESTEC CAUTIOUS MANAGED FUND 

Fund aim: To provide a combination of income and long-term capital growth, primarily through application 

of a contrarian approach to investment in UK equities. The fund may invest in collective investment schemes, 

transferable securities and cash. The fund manager may also use derivatives and forward currency contracts for 

efficient portfolio management. 



LEGAL & GENERAL INVESTEC GLOBAL ENERGY FUND 

Fund aim: To achieve long-term capital growth primarily through investment in equities issued by companies 

around the globe involved in the exploration, production or distribution of oil, gas and other energy sources or 

companies which service the energy industry and in derivatives, the underlying assets of which are equities 

issued by companies around the globe involved in exploration, production or distribution of oil, gas and other 

energy sources or companies which service the energy industry. 



LEGAL & GENERAL INVESTEC GLOBAL FREE ENTERPRISE FUND 

Fund aim: To achieve long-term capital growth primarily through investment in equities issued by companies 

around the globe that are expected to benefit from the process of privatisation, deregulation or demutualisation 

or otherwise believed to offer above average opportunities for capital gains and in derivatives, the underlying 

assets of which are equities issued by companies around the globe that are expected to benefit from the process 

of privatisation, deregulation or demutualisation or otherwise believed to offer above average opportunities for 

capital gains. 



LEGAL & GENERAL INVESTEC UK BLUE CHIP FUND 

Fund aim: To achieve long-term capital growth primarily through investment in the equities issued by the 

constituents of the FTSE 350 Index and in derivatives the underlying assets of which are equities issued by the 

constituents of the FTSE 350 Index. 




21 

Newton (BNY Mellon Fund Managers Limited) 

BNY Mellon Asset Management is the global asset management arm of BNY Mellon, one of the world’s 

major financial services groups. With £754 billion* in assets under management, their multi-boutique model 

encompasses the skills of a number of world class specialist investment managers in their UK fund range, including 

Newton Investment Management (Newton). BNY Mellon Fund Managers Limited (BNY MFM) is the Authorised 

Corporate Director. The investment adviser of the Newton sub-funds is Newton. 

* As at 31 December 2010 (Source: The Bank of New York Mellon Corporation) 

LEGAL & GENERAL NEWTON INTERNATIONAL BOND FUND 

Fund aim: To maximise the total return from income and capital growth in the world bond markets through 

investment predominantly in government and other public securities. The fund may also invest in deposits, 

derivative instruments, forward transactions and collective investment schemes. 



OEIC 

LEGAL & GENERAL NEWTON MANAGED FUND 

Fund aim: To achieve capital growth and income from a portfolio of UK, EC and international securities. 

The fund may also invest in collective investment schemes. 



OEIC 

Schroders 

Schroders manage £181.5 billion under management on behalf of institutional and retail investors, financial 

institutions and high net worth clients from around the world, invested in a broad range of asset classes across 

equities, fixed income and alternatives. 

Schroders has developed under stable ownership for over 200 years and long-term thinking governs their 

approach to investing, building client relationships and growing their business. 

(Source: Schroders, all data as at 30 September 2010) 

LEGAL & GENERAL SCHRODER TOKYO FUND 

Fund aim: To achieve capital growth by investing in Japanese equities. The fund manager focuses on companies 

with a proven track record and solid profits growth prospects which are not fully reflected in the current share 

price relative to other companies. 



OEIC 

LEGAL & GENERAL SCHRODER UK ALPHA PLUS FUND 

Fund aim: To provide capital growth through investment in UK companies. The fund will invest in a focused 

portfolio of between 20 and 40 stocks with an objective of achieving an absolute return. 



Unit Trust


LEGAL & GENERAL SCHRODER UK MID 250 FUND 

Fund aim: To achieve long-term capital growth by investing in the medium sized companies listed on the 

FTSE Mid 250 Index. The main advantage of investing in Mid 250 companies is that often these businesses 

have greater potential for continued growth than their larger counterparts. The fund manager invests in 

growing companies with a unique product or service for which demand is strong. 



Unit Trust 

LEGAL & GENERAL SCHRODER UK SMALLER COMPANIES FUND 

Fund aim: To achieve capital growth by investing in UK smaller companies. The policy is to invest in smaller 

companies in the UK that are expected to exhibit superior growth over the long term. Investment will be in 

directly held transferable securities. The fund may also invest in collective investment schemes, warrants and 

money market instruments. 



Unit Trust 

Note: The FTSE indices are calculated by FTSE International Limited (“FTSE”). FTSE does not sponsor, endorse 

or promote these products. All copyright in the indices’ values and constituent list belongs to FTSE. 

Legal & General has obtained full licence from FTSE to use such copyright in the creation of these products. 

“FTSE”, “FT-SE ® ” and “Footsie ® ” are trade marks of the London Stock Exchange plc and The Financial 

Times Limited and are used by FTSE International Limited (“FTSE”) under licence. “All-Share, and All-World” 

are trade mark(s) of “FTSE”. 

LIFESTYLE PROFILES. 

WHAT IS A LIFESTYLE PROFILE? 

A Lifestyle Profile is an investment option where 

your payments initially go into one or more 

particular funds, typically invested in equities. As 

you get nearer to your selected retirement date, we 

steadily switch your pension fund into one or more 

funds considered to be lower risk. 

A Lifestyle Profile cannot be chosen together with 

any other fund selection. The Lifestyle Profile will 

apply to the whole of your plan. 

HOW DOES A LIFESTYLE PROFILE WORK? 

A Lifestyle Profile offers an automatic switching 

process during the final years of your plan, up to 

your selected retirement date. Your investment is 

gradually moved into one or more of the following 

funds: 

• Cash Fund 

• Fixed Interest Fund 

• Index-Linked Gilt Fund 

• Over 15 Year Gilts Index Fund 

These funds are generally regarded as less risky than 

funds that invest in equities. However, you will lose the 

potential benefits of investing in equities, as explained 

on page 4. Please remember that the values of these 

funds are not guaranteed and may go up or down. 

Lifestyle Profiles currently have operating periods of 

3, 5 or 10 years. The frequency of switching is currently 

yearly, quarterly or monthly. 

The date of the first switch will be due 3, 5 or 10 years 

before your selected retirement date, depending on the 

operating period of the Lifestyle Profile. For example, if 

your selected retirement date is 5 April 2025 and your 

chosen Lifestyle Profile has an operating period of 10 

years, then the first switch will be due to take place on 

5 April 2015. 

On each anniversary, we will switch your pension fund 

into the correct proportions of each fund in accordance 

with your chosen Lifestyle Profile. For Lifestyle Profiles 

with quarterly or monthly switching frequencies, the 

switches will take place on the relevant corresponding 

date (for example, for monthly switching this could 

be the 5th of each month). Where the month has no 

corresponding date, the switch will be made on the last 

day of that month.


23 

Any payments made to your plan during the 

operating period of your chosen Lifestyle Profile, 

will be allocated into the applicable funds in the 

proportions specified for that date. 

The following Profiles are available for all 

pension plans, except Trustee Investment Plans: 

WHAT PROFILES CAN I CHOOSE FROM? 

We have a range of profiles offering different 

fund mixes and switching periods. The details of 

each profile are set out over the following pages. 

You should refer to the Fund Information section 

starting on page 8 for details of the funds referred 

to in each table. 

HOW MANY PROFILES CAN I HAVE? 

You can only invest in one profile at any one time. 

Also, whilst you are invested in a Lifestyle Profile it’s 

not possible to invest in other funds. Once you start 

your plan it’s possible to switch between profiles 

at any time, or even stop the ‘lifestyle’ investment 

option and choose one or more of the funds 

available on the plan. 

IMPORTANT INFORMATION 

It’s important to remember that the objective of a 

Lifestyle Profile is to reduce the amount of risk that 

your pension fund is exposed to as you get nearer to 

your selected retirement date. It is not a guarantee 

that the value of your pension fund will not reduce 

during this period. 

PROFILE INFORMATION 

The following pages provide: 

• the fund the Lifestyle Profile starts in, 

• the fund(s) the Lifestyle Profile switches into 

(and what proportions if applicable), 

• how long before your selected retirement date 

the switching will begin, and 

• how often the switches will take place. 

PROFILES WITH A 10 YEAR SWITCHING PERIOD 

Yearly switching profile – These profiles start switching 

10 years before your selected retirement date, and then 

on each anniversary of that date. 

CAUTIOUS MANAGED LIFESTYLE PROFILE 

Mix of funds during the 10 years prior to your 

selected retirement date 

Years to your 

selected 

retirement date 

More than 10 

9 – 10 

8 – 9 

7 – 8 

6 – 7 

5 – 6 

4 – 5 

3 – 4 

2 – 3 

1 – 2 

Less than 1 

Years to your 

selected 


Distribution 

Fund % 

100 

90 

80 

70 

60 

50 

40 

30 

20 

10 

0 

Managed 

Fund % 

Fixed 

Interest 

Fund % 

0.00 

7.50 

15.00 

22.50 

30.00 

37.50 

45.00 

52.50 

60.00 

67.50 

75.00 

Fixed 

Interest 

Fund % 

Cash 

Fund % 

MANAGED LIFESTYLE PROFILE 



0.00 

2.50 

5.00 

7.50 

10.00 

12.50 

15.00 

17.50 

20.00 

22.50 

25.00 

Cash 

Fund % 

More than 10 

100 

0.00 

0.00 

9 – 10 

90 

7.50 

2.50 

8 – 9 

80 

15.00 

5.00 

7 – 8 

70 

22.50 

7.50 

6 – 7 

60 

30.00 

10.00 

5 – 6 

50 

37.50 

12.50 

4 – 5 

40 

45.00 

15.00 

3 – 4 

30 

52.50 

17.50 

2 – 3 

20 

60.00 

20.00 

1 – 2 

10 

67.50 

22.50 

Less than 1 

0 

75.00 

25.00


UK EQUITY INDEX LIFESTYLE PROFILE 



Years to your 

selected 


More than 10 

9 – 10 

8 – 9 

7 – 8 

6 – 7 

5 – 6 

4 – 5 

3 – 4 

2 – 3 

1 – 2 

Less than 1 

Years to your 

selected retirement 

date 

More than 5 

4 – 5 

3 – 4 

2 – 3 

1 – 2 

Less than 1 

Years to your 

selected 


More than 5 

4 – 5 

3 – 4 

2 – 3 

1 – 2 

Less than 1 

UK Equity Index 

Fund % 

100 

90 

80 

70 

60 

50 

40 

30 

20 

10 

0 

Managed Fund % 

100 

80 

60 

40 

20 

0 

Fixed 

Interest 

Fund % 

0.00 

7.50 

15.00 

22.50 

30.00 

37.50 

45.00 

52.50 

60.00 

67.50 

75.00 

Index- 

Linked 

Gilt Fund 

% 

0 

10 

20 

30 

40 

50 

Cash 

Fund % 

0.00 

2.50 

5.00 

7.50 

10.00 

12.50 

15.00 

17.50 

20.00 

22.50 

25.00 

PROFILES WITH A FIVE YEAR SWITCHING PERIOD 

Yearly switching profiles – These profiles start switching 

five years before your selected retirement date, and then 


DUAL FUND LIFESTYLE PROFILE 

Mix of funds during the five years prior to your 


Managed Fund % 

100 

80 

60 

40 

20 

0 

Index-Linked Gilt 

Fund % 

0 

20 

40 

60 

80 

100 

TRIPLE FUND LIFESTYLE PROFILE 



Fixed 

Interest 

Fund % 

0 

10 

20 

30 

40 

50 

PROFILE WITH A THREE YEAR SWITCHING 

PERIOD 

Monthly switching profile – This profile starts switching 

three years before your selected retirement date, and 

then every month after that. 

CONSENSUS THREE YEAR LIFESTYLE PROFILE 

Mix of funds during the three years prior to your 


Months to 

your selected 


More than 36 

36 

35 

34 

33 

32 

31 

30 

29 

28 

27 

26 

25 

24 

23 

22 

21 

20 

19 

18 

17 

16 

15 

14 

13 

12 

11 

10 

9 

8 

7 

6 

5 

4 

3 

2 

1 

Consensus 

Fund % 

100.00 

97.23 

94.44 

91.67 

88.89 

86.11 

83.33 

80.56 

77.77 

75.00 

72.23 

69.44 

66.67 

63.89 

61.11 

58.33 

55.56 

52.77 

50.00 

47.23 

44.44 

41.67 

38.89 

36.11 

33.33 

30.56 

27.77 

25.00 

22.23 

19.44 

16.67 

13.89 

11.11 

8.33 

5.56 

2.77 

0.00 

Fixed 

Interest 

Fund % 

0.00 

2.08 

4.17 

6.25 

8.33 

10.42 

12.50 

14.58 

16.67 

18.75 

20.83 

22.92 

25.00 

27.08 

29.17 

31.25 

33.33 

35.42 

37.50 

39.58 

41.67 

43.75 

45.83 

47.92 

50.00 

52.08 

54.17 

56.25 

58.33 

60.42 

62.50 

64.58 

66.67 

68.75 

70.83 

72.92 

75.00 

Cash 

Fund % 

0.00 

0.69 

1.39 

2.08 

2.78 

3.47 

4.17 

4.86 

5.56 

6.25 

6.94 

7.64 

8.33 

9.03 

9.72 

10.42 

11.11 

11.81 

12.50 

13.19 

13.89 

14.58 

15.28 

15.97 

16.67 

17.36 

18.06 

18.75 

19.44 

20.14 

20.83 

21.53 

22.22 

22.92 

23.61 

24.31 

25.00


25 

The following Profiles are only available for the 

following pension plans: 




MONTHLY UK EQUITY INDEX 

LIFESTYLE PROFILE (CONTINUED) 



Months to 

your selected 



Fund % 

Fixed 

Interest 

Fund % 

Cash 

Fund % 




every month after that. 

87 

86 

85 

84 

71.67 

70.83 

70.00 

69.17 

21.25 

21.88 

22.50 

23.13 

7.08 

7.29 

7.50 

7.70 


LIFESTYLE PROFILE 



83 

82 

81 

80 

79 

68.33 

67.50 

66.67 

65.83 

65.00 

23.75 

24.38 

25.00 

25.63 

26.25 

7.92 

8.12 

8.33 

8.54 

8.75 

78 

64.17 

26.88 

8.95 

Months to 

your selected 



Fund % 

Fixed 

Interest 

Fund % 

Cash 

Fund % 

77 

76 

75 

63.33 

62.50 

61.67 

27.50 

28.13 

28.75 

9.17 

9.37 

9.58 

74 

60.83 

29.38 

9.79 

120+ 

100.00 

0.00 

0.00 

73 

60.00 

30.00 

10.00 

120 

99.17 

0.63 

0.20 

72 

59.17 

30.63 

10.20 

119 

98.33 

1.25 

0.42 

71 

58.33 

31.25 

10.42 

118 

97.50 

1.88 

0.62 

70 

57.50 

31.88 

10.62 

117 

96.67 

2.50 

0.83 

69 

56.67 

32.50 

10.83 

116 

95.83 

3.13 

1.04 

68 

55.83 

33.13 

11.04 

115 

95.00 

3.75 

1.25 

67 

55.00 

33.75 

11.25 

114 

94.17 

4.38 

1.45 

66 

54.17 

34.38 

11.45 

113 

93.33 

5.00 

1.67 

65 

53.33 

35.00 

11.67 

112 

92.50 

5.63 

1.87 

64 

52.50 

35.63 

11.87 

111 

91.67 

6.25 

2.08 

63 

51.67 

36.25 

12.08 

110 

90.83 

6.88 

2.29 

62 

50.83 

36.88 

12.29 

109 

90.00 

7.50 

2.50 

61 

50.00 

37.50 

12.50 

108 

89.17 

8.13 

2.70 

60 

49.17 

38.13 

12.70 

107 

88.33 

8.75 

2.92 

59 

48.33 

38.75 

12.92 

106 

87.50 

9.38 

3.12 

58 

47.50 

39.38 

13.12 

105 

86.67 

10.00 

3.33 

57 

46.67 

40.00 

13.33 

104 

85.83 

10.63 

3.54 

56 

45.83 

40.63 

13.54 

103 

85.00 

11.25 

3.75 

55 

45.00 

41.25 

13.75 

102 

84.17 

11.88 

3.95 

54 

44.17 

41.88 

13.95 

101 

83.33 

12.50 

4.17 

53 

43.33 

42.50 

14.17 

100 

82.50 

13.13 

4.37 

52 

42.50 

43.13 

14.37 

99 

81.67 

13.75 

4.58 

51 

41.67 

43.75 

14.58 

98 

80.83 

14.38 

4.79 

50 

40.83 

44.38 

14.79 

97 

80.00 

15.00 

5.00 

49 

40.00 

45.00 

15.00 

96 

79.17 

15.63 

5.20 

48 

39.17 

45.63 

15.20 

95 

78.33 

16.25 

5.42 

47 

38.33 

46.25 

15.42 

94 

77.50 

16.88 

5.62 

46 

37.50 

46.88 

15.62 

93 

76.67 

17.50 

5.83 

45 

36.67 

47.50 

15.83 

92 

75.83 

18.13 

6.04 

44 

35.83 

48.13 

16.04 

91 

75.00 

18.75 

6.25 

43 

35.00 

48.75 

16.25 

90 

74.17 

19.38 

6.45 

42 

34.17 

49.38 

16.45 

89 

73.33 

20.00 

6.67 

41 

33.33 

50.00 

16.67 

88 

72.50 

20.63 

6.87 

40 

32.50 

50.63 

16.87



LIFESTYLE PROFILE (continued) 




Yearly switching profile – This profile starts switching five 

years before your selected retirement date, and then on 

each anniversary of that date. 

Months to 

your selected 


39 


Fund % 

31.67 

Fixed 

Interest 

Fund % 

51.25 

Cash 

Fund % 

17.08 

GLOBAL EQUITY 70:30 INDEX/FIXED INTEREST 




38 

30.83 

51.88 

17.29 

37 

36 

35 

30.00 

29.17 

28.33 

52.50 

53.13 

53.75 

17.50 

17.70 

17.92 

Years to your 

selected retirement 

date 

Global Equity 70:30 

Index Fund % 

Fixed Interest 

Fund % 

34 

27.50 

54.38 

18.12 

33 

26.67 

55.00 

18.33 

More than 5 

100 

0 

32 

25.83 

55.63 

18.54 

4 – 5 

80 

20 

31 

25.00 

56.25 

18.75 

3 – 4 

60 

40 

30 

24.17 

56.88 

18.95 

2 – 3 

40 

60 

29 

23.33 

57.50 

19.17 

1 – 2 

20 

80 

28 

22.50 

58.13 

19.37 

Less than 1 

0 

100 

27 

26 

25 

24 

21.67 

20.83 

20.00 

19.17 

58.75 

59.38 

60.00 

60.63 

19.58 

19.79 

20.00 

20.20 

Quarterly switching profiles – The following profiles start 

switching five years before your selected retirement date, 

and then every three months after that. 

23 

22 

21 

20 

19 

18.33 

17.50 

16.67 

15.83 

15.00 

61.25 

61.88 

62.50 

63.13 

63.75 

20.42 

20.62 

20.83 

21.04 

21.25 

GLOBAL EQUITY 70:30 INDEX 




18 

14.17 

64.38 

21.45 

17 

16 

15 

13.33 

12.50 

11.67 

65.00 

65.63 

66.25 

21.67 

21.87 

22.08 

Months to 

your selected 


Global Equity 

70:30 Index 

Fund % 

Fixed 

Interest 

Fund % 

Cash 

Fund % 

14 

10.83 

66.88 

22.29 

13 

10.00 

67.50 

22.50 

More than 60 

100 

0.00 

0.00 

12 

9.17 

68.13 

22.70 

60 

95 

3.75 

1.25 

11 

8.33 

68.75 

22.92 

57 

90 

7.50 

2.50 

10 

7.50 

69.38 

23.12 

54 

85 

11.25 

3.75 

9 

6.67 

70.00 

23.33 

51 

80 

15.00 

5.00 

8 

5.83 

70.63 

23.54 

48 

75 

18.75 

6.25 

7 

5.00 

71.25 

23.75 

45 

70 

22.50 

7.50 

6 

4.17 

71.88 

23.95 

42 

65 

26.25 

8.75 

5 

3.33 

72.50 

24.17 

39 

60 

30.00 

10.00 

4 

2.50 

73.13 

24.37 

36 

55 

33.75 

11.25 

3 

1.67 

73.75 

24.58 

33 

50 

37.50 

12.50 

2 

0.83 

74.38 

24.79 

30 

45 

41.25 

13.75 

1 

0.00 

75.00 

25.00 

27 

40 

45.00 

15.00 

0 

0.00 

75.00 

25.00 

24 

35 

48.75 

16.25 

21 

30 

52.50 

17.50 

18 

25 

56.25 

18.75 

15 

20 

60.00 

20.00 

12 

15 

63.75 

21.25 

9 

10 

67.50 

22.50 

6 

5 

71.25 

23.75 

3 

0 

75.00 

25.00


27 

GLOBAL EQUITY 70:30 INDEX/INDEX LINKED 

GILT LIFESTYLE PROFILE 



GLOBAL EQUITY FIXED WEIGHTS 60:40 INDEX 




Months to 

your selected 


Global Equity 

70:30 Index 

Fund % 

Index- 

Linked 

Gilt Fund 

% 

Cash 

Fund % 

Months to 

your selected 


Global Equity 

Fixed Weights 

60:40 Index 

Fund % 

Fixed 

Interest 

Fund % 

Cash 

Fund % 

More than 60 

100 

0.00 

0.00 

More than 60 

100 

0.00 

0.00 

60 

95 

3.75 

1.25 

60 

95 

3.75 

1.25 

57 

90 

7.50 

2.50 

57 

90 

7.50 

2.50 

54 

85 

11.25 

3.75 

54 

85 

11.25 

3.75 

51 

80 

15.00 

5.00 

51 

80 

15.00 

5.00 

48 

75 

18.75 

6.25 

48 

75 

18.75 

6.25 

45 

70 

22.50 

7.50 

45 

70 

22.50 

7.50 

42 

65 

26.25 

8.75 

42 

65 

26.25 

8.75 

39 

60 

30.00 

10.00 

39 

60 

30.00 

10.00 

36 

55 

33.75 

11.25 

36 

55 

33.75 

11.25 

33 

50 

37.50 

12.50 

33 

50 

37.50 

12.50 

30 

45 

41.25 

13.75 

30 

45 

41.25 

13.75 

27 

40 

45.00 

15.00 

27 

40 

45.00 

15.00 

24 

35 

48.75 

16.25 

24 

35 

48.75 

16.25 

21 

30 

52.50 

17.50 

21 

30 

52.50 

17.50 

18 

25 

56.25 

18.75 

18 

25 

56.25 

18.75 

15 

20 

60.00 

20.00 

15 

20 

60.00 

20.00 

12 

15 

63.75 

21.25 

12 

15 

63.75 

21.25 

9 

10 

67.50 

22.50 

9 

10 

67.50 

22.50 

6 

5 

71.25 

23.75 

6 

5 

71.25 

23.75 

3 

0 

75.00 

25.00 

3 

0 

75.00 

25.00





CONSENSUS FIVE YEAR LIFESTYLE PROFILE 



CONSENSUS FIVE YEAR LIFESTYLE PROFILE 

(continued) 



Months to 

your selected 


Consensus 

Fund % 

Fixed 

Interest 

Fund % 

Cash 

Fund % 

Months to 

your selected 


Consensus 

Fund % 

Fixed 

Interest 

Fund % 

Cash 

Fund % 

More than 60 

100.00 

0.00 

0.00 

19 

30.00 

52.50 

17.50 

60 

98.33 

1.25 

0.42 

18 

28.33 

53.75 

17.92 

59 

96.66 

2.50 

0.84 

17 

26.66 

55.00 

18.34 

58 

95.00 

3.75 

1.25 

16 

25.00 

56.25 

18.75 

57 

93.33 

5.00 

1.67 

15 

23.33 

57.50 

19.17 

56 

91.66 

6.25 

2.09 

14 

21.66 

58.75 

19.59 

55 

90.00 

7.50 

2.50 

13 

20.00 

60.00 

20.00 

54 

88.33 

8.75 

2.92 

12 

18.33 

61.25 

20.42 

53 

86.66 

10.00 

3.34 

11 

16.66 

62.50 

20.84 

52 

85.00 

11.25 

3.75 

10 

15.00 

63.75 

21.25 

51 

83.33 

12.50 

4.17 

9 

13.33 

65.00 

21.67 

50 

81.66 

13.75 

4.59 

8 

11.66 

66.25 

22.09 

49 

80.00 

15.00 

5.00 

7 

10.00 

67.50 

22.50 

48 

78.33 

16.25 

5.42 

6 

8.33 

68.75 

22.92 

47 

76.66 

17.50 

5.84 

5 

6.66 

70.00 

23.34 

46 

75.00 

18.75 

6.25 

4 

5.00 

71.25 

23.75 

45 

73.33 

20.00 

6.67 

3 

3.33 

72.50 

24.17 

44 

71.66 

21.25 

7.09 

2 

1.66 

73.75 

24.59 

43 

70.00 

22.50 

7.50 

1 

0.00 

75.00 

25.00 

42 

68.33 

23.75 

7.92 

41 

66.66 

25.00 

8.34 

40 

65.00 

26.25 

8.75 

39 

63.33 

27.50 

9.17 

38 

61.66 

28.75 

9.59 

37 

60.00 

30.00 

10.00 

36 

58.33 

31.25 

10.42 

35 

56.66 

32.50 

10.84 

34 

55.00 

33.75 

11.25 

33 

53.33 

35.00 

11.67 

32 

51.66 

36.25 

12.09 

31 

50.00 

37.50 

12.50 

30 

48.33 

38.75 

12.92 

29 

46.66 

40.00 

13.34 

28 

45.00 

41.25 

13.75 

27 

43.33 

42.50 

14.17 

26 

41.66 

43.75 

14.59 

25 

40.00 

45.00 

15.00 

24 

38.33 

46.25 

15.42 

23 

36.66 

47.50 

15.84 

22 

35.00 

48.75 

16.25 

21 

33.33 

50.00 

16.67 

20 

31.66 

51.25 

17.09


29 

The following Profiles are only available for the 

following pension plans: 

Personal Pension 2000 plans that started on or after 

6 April 2001 

Self Invested Personal Pension 2000 plans that 

started on or after 6 April 2001 



Yearly switching profiles – This profile starts switching 




Quarterly switching profile – This profile starts switching 


every three months after that. 

GLOBAL EQUITY FIXED WEIGHTS 50:50 INDEX/ 

FIXED INTEREST LIFESTYLE PROFILE 



Months to 

your selected 


Global Equity 

Fixed Weights 

50:50 Index 

Fund % 

Fixed 

Interest 

Fund % 

Cash 

Fund % 

GLOBAL EQUITY FIXED WEIGHTS 

50:50 INDEX/OVER 15 YEAR GILTS 




60+ 

60 

57 

54 

51 

48 

100 

95 

90 

85 

80 

75 

0.00 

3.75 

7.50 

11.25 

15.00 

18.75 

0.00 

1.25 

2.50 

3.75 

5.00 

6.25 

Years to your 

selected 


Global Equity 

Fixed Weights 

50:50 Index 

Fund % 

Over 15 

Year Gilts 

Fund % 

Cash 

Fund % 

45 

42 

39 

36 

70 

65 

60 

55 

22.50 

26.25 

30.00 

33.75 

7.50 

8.75 

10.00 

11.25 

More than 10 

100 

0 

0 

33 

50 

37.50 

12.50 

9 – 10 

90 

10 

0 

30 

45 

41.25 

13.75 

8 – 9 

80 

20 

0 

27 

40 

45.00 

15.00 

7 – 8 

70 

30 

0 

24 

35 

48.75 

16.25 

6 – 7 

60 

40 

0 

21 

30 

52.50 

17.50 

5 – 6 

50 

50 

0 

18 

25 

56.25 

18.75 

4 – 5 

40 

60 

0 

15 

20 

60.00 

20.00 

3 – 4 

30 

64 

6 

12 

15 

63.75 

21.25 

2 – 3 

20 

68 

12 

9 

10 

67.50 

22.50 

1 – 2 

10 

72 

18 

6 

5 

71.25 

23.75 

Less than 1 

0 

75 

25 

3 

0 

75.00 

25.00 

0 

0 

75.00 

25.00





GLOBAL EQUITY FIXED WEIGHTS 50:50 

INDEX/INDEX LINKED GILT LIFESTYLE PROFILE 



GLOBAL EQUITY FIXED WEIGHTS 50:50 

INDEX/INDEX LINKED GILT LIFESTYLE PROFILE 

(continued) 



Months to 

your selected 


Global Equity 

Fixed Weights 

50:50 Index 

Fund % 

Index 

Linked 

Gilt Fund 

% 

Cash 

Fund % 

Months to 

your selected 


Global Equity 

Fixed Weights 

50:50 Index 

Fund % 

Index 

Link Gilt 

Fund % 

Cash 

Fund % 

60+ 

100.00 

0.00 

0.00 

19 

30.00 

52.50 

17.50 

60 

98.33 

1.25 

0.42 

18 

28.33 

53.75 

17.92 

59 

96.66 

2.50 

0.84 

17 

26.66 

55.00 

18.34 

58 

95.00 

3.75 

1.25 

16 

25.00 

56.25 

18.75 

57 

93.33 

5.00 

1.67 

15 

23.33 

57.50 

19.17 

56 

91.66 

6.25 

2.09 

14 

21.66 

58.75 

19.59 

55 

90.00 

7.50 

2.50 

13 

20.00 

60.00 

20.00 

54 

88.33 

8.75 

2.92 

12 

18.33 

61.25 

20.42 

53 

86.66 

10.00 

3.34 

11 

16.66 

62.50 

20.84 

52 

85.00 

11.25 

3.75 

10 

15.00 

63.75 

21.25 

51 

83.33 

12.50 

4.17 

9 

13.33 

65.00 

21.67 

50 

81.66 

13.75 

4.59 

8 

11.66 

66.25 

22.09 

49 

80.00 

15.00 

5.00 

7 

10.00 

67.50 

22.50 

48 

78.33 

16.25 

5.42 

6 

8.33 

68.75 

22.92 

47 

76.66 

17.50 

5.84 

5 

6.66 

70.00 

23.34 

46 

75.00 

18.75 

6.25 

4 

5.00 

71.25 

23.75 

45 

73.33 

20.00 

6.67 

3 

3.33 

72.50 

24.17 

44 

71.66 

21.25 

7.09 

2 

1.66 

73.75 

24.59 

43 

70.00 

22.50 

7.50 

1 

0.00 

75.00 

25.00 

42 

68.33 

23.75 

7.92 

41 

66.66 

25.00 

8.34 

40 

65.00 

26.25 

8.75 

39 

63.33 

27.50 

9.17 

38 

61.66 

28.75 

9.59 

37 

60.00 

30.00 

10.00 

36 

58.33 

31.25 

10.42 

35 

56.66 

32.50 

10.84 

34 

55.00 

33.75 

11.25 

33 

53.33 

35.00 

11.67 

32 

51.66 

36.25 

12.09 

31 

50.00 

37.50 

12.50 

30 

48.33 

38.75 

12.92 

29 

46.66 

40.00 

13.34 

28 

45.00 

41.25 

13.75 

27 

43.33 

42.50 

14.17 

26 

41.66 

43.75 

14.59 

25 

40.00 

45.00 

15.00 

24 

38.33 

46.25 

15.42 

23 

36.66 

47.50 

15.84 

22 

35.00 

48.75 

16.25 

21 

33.33 

50.00 

16.67 

20 

31.66 

51.25 

17.09


31 

FUND SPECIFIC RISK DEFINITIONS. 

Listed below are all of the fund specific risks that 

could potentially apply to the funds. To find out which 

risks apply to a fund you need to cross-reference 

the numbers in the fund specific risks section of the 

fund information with the corresponding numbered 

definitions below. 

You’ll note that there are some numbers missing from 

the list. This is because we use standard descriptions 

for a number of different products and some of those 

numbers do not apply to the funds available to the 

pension products covered within this document. 

12. Currency changes 

The fund may hold assets in currencies that are not 

sterling (British pounds). If the value of these currencies 

falls compared to sterling this may cause the fund’s value 

to go down. 

13. Equities 

As the fund invests in equities (shares of companies), 

there’s a higher risk of fund values falling than investing in 

most other asset types, particularly in the short term. 

14. Fixed interest securities 

The fund invests in fixed interest securities – usually 

corporate and government bonds. Investment returns 

are particularly sensitive to longer term interest rates, 

typically those for five years and more. Fund values are 

likely to fall when these interest rates rise. 

The financial strength of a company or government 

issuing a fixed interest security determines their ability 

to make some or all of the payments due. If this financial 

strength weakens, the chances of them not making 

payments increases and this could reduce the 

fund’s value. 

16. Sub investment grade corporate bonds 

Corporate bonds are assessed by independent analysts. 

They rate them depending on how likely the company 

who issues the bond is to fail to pay the interest due 

and/or repay the original capital on the agreed date. 

They’re divided into two categories: 

• ‘Investment grade’. These are bonds with the least risk. 

• ‘Sub investment grade’. These bonds are more risky 

than investment grade bonds. 

The fund invests in sub investment grade corporate bonds 

so there’s an increased risk of fund values falling due to 

non-payment by the companies issuing the bonds. 

17. Derivatives 

This fund invests in derivatives and so may be higher risk 

than funds that invest in other types of assets. In addition, 

there are some derivatives whose value falls even though 

the market is rising. 

If any of the companies with whom the fund has taken 

out a derivative experiences financial difficulties, it may 

be difficult to value the derivative or for it to be sold. This 

may reduce the value of your investment. 

19. Smaller companies 

The fund invests in smaller companies that tend to be 

riskier than large companies. This is because their shares 

can be harder to buy and sell, and the value of them may 

go up and down more often and by larger amounts, 

particularly in the short term. 

20. Limited holdings 

Most funds spread investments across lots of individual 

holdings, rather than relying on the performance of just a 

few. The whole of this fund, or a large part of it, invests in 

relatively few individual holdings. This means that a fall in the 

value of an individual holding can have a major impact on the 

overall performance of the fund. 

21. Developing markets 

The fund invests in countries where investment markets are 

not as well developed as those in the UK. This means that 

investments are generally riskier than those in the UK 

because they: 

• are not as well regulated, 

• are more difficult to buy and sell, 

• have less reliable arrangements for the safekeeping of assets. 

22. Specialist 

The fund invests in companies from a particular market 

sector which means that there is a higher level of risk. The 

value of your investment may go up and down more often 

and by larger amounts than funds that are spread more 

widely, particularly in the short term. 

23. Commercial property 

Property can be difficult to buy or sell. This could mean: 

• cash remains uninvested and/or 

• property may have to be sold for less than expected. 

If an unexpected large number and/or value of withdrawals 

are requested: 

• The fund manager may be forced to sell properties quickly. 

This could mean that properties are sold for less than 

expected which could reduce the value of your investment. 

• There are times when it’s not possible to sell properties 

quickly. If this happened at the same time as you asking us 

to withdraw money from the fund, we might need to delay 

dealing with your request. You could wait for as long as six 

months. 

If the size of the fund falls significantly, the fund may have to 

hold fewer properties. This may lead to an increase in risk. 

Rental growth is not guaranteed and unpaid rent could affect 

the performance of your investment. 

The value of property is generally a matter of a valuer’s 

opinion rather than fact. 

24. Money market insolvency 

The fund invests in money market assets, which includes 

deposits in banks and other financial institutions. If any of 

these suffer financial difficulties or become insolvent, they 

may not pay back some or all of the amount invested with 

them. This could mean that you might not get back the full 

value of your investment. 

27. Ethical 

The ethical standards used for this fund mean that it cannot 

invest in some companies or in certain sectors (for example 

tobacco or mining). These restrictions mean that the value 

of your investment may go up and down more often and 

by larger amounts than a fund without such restrictions, 

particularly in the short term.


QUICK REFERENCE. 

FUNDS MANAGED BY LEGAL & GENERAL 

FUND 

SHP 

PP2000/ 

SIPP2000 

PP2000/ 

SIPP2000 

starting on or 

after 6 April 2001 

PP No.1/FSAVC/ 

SEP/BOP/CPP/ 

PIP/EPP/DPP/ 

CSAVC 

PIPP/ 

SIPP/EIRP 

TIP 

(starting 

before 

Nov 1999) 

TIP 

(starting 

after 

Nov 1999) 

Cash 

Consensus 

Distribution 

Equity 

Ethical 

European 

European Equity Index 

Far Eastern 

Fixed Interest 

Global Equity 70:30 Index 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✗ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✗ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✗ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

Global Equity Fixed 

Weights 60:40 Index 

✓ 

✓ 

✓ 

✗ 

✗ 

✗ 

✓ 

Global Equity Fixed 

Weights 50:50 Index 

✓ 

✗ 

✓ 

✗ 

✗ 

✗ 

✗ 

Index Linked Gilt 

International 

Japanese Equity Index 

Managed 

North American 

Over 15 Year Gilts Index 

Property 


UK Recovery 

UK Smaller Companies 

US Equity Index 

With Profits 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✗ 

✓ 

✓ 

✓ 

✓ 

✓ 

✗ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

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✗ 

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✓ 

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✗ 

✓ 

✓ 

✓ 

✓ 

✓ 

✗ 

LIFESTYLE PROFILES 

Cautious Managed 

Consensus Three Year 

Consensus Five Year 

Dual Fund 

Global Equity 70:30 Index 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✓ 

✗ 

✓ 

✗ 

✓ 

✓ 

✗ 

✓ 

✗ 

✗ 

✗ 

✗ 

✗ 

✗ 

✗ 

✗ 

✗ 

✗ 

✗ 

Global Equity 70:30 

Index/Fixed Interest 

✓ 

✓ 

✓ 

✗ 

✗ 

✗ 

✗ 

Global Equity 70:30 Index/ 

Index Linked Gilt 

✓ 

✓ 

✓ 

✗ 

✗ 

✗ 

✗ 

Global Equity Fixed Weights 

60:40 Index 

✓ 

✓ 

✓ 

✗ 

✗ 

✗ 

✗ 


50:50 Index/Fixed Interest 

✓ 

✗ 

✓ 

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50:50 Index/Index Linked Gilt 

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50:50 Index/Over 15 Year Gilts 

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Managed 

Monthly UK Equity Index 

Triple Fund 


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33 

EXTERNALLY MANAGED FUNDS 

FUND 

SHP/TIP 

starting 

after June 

2002 

PP2000/ 

SIPP2000 

PP2000/SIPP2000 

starting on or after 

6 April 2001 

PP No.1/FSAVC/ 

SEP 

PIPP/SIPP 

ABERDEEN LIFE 

Global (ex UK) Equity Fund 

Global Growth Fund 

Multi-Asset (ex Property) Fund 

UK Equity Fund 

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ALLIANZ 

PIMCO Sterling Total Return Fund 

PIMCO UK Corporate Bond Fund 

RCM Dynamic Growth Fund 

RCM UK Equity Fund 

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INVESTEC 

American Fund 

Cautious Managed Fund 

Global Energy Fund 

Global Free Enterprise Fund 

UK Blue Chip Fund 

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GLG 

Balanced Fund 

Esprit Continental Europe Fund 

Global Equity Fund 

UK Growth Fund 

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JP MORGAN ASSET MANAGEMENT 

Life Growth Fund 

Life Moderate Fund 

Life UK Disciplined Equity Fund 

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HENDERSON NEW STAR 

European Growth Fund 

Higher Income Fund 

High Yield Monthly Income Fund 

Sterling Bond Fund 

UK Alpha Fund 

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NEWTON (BNY Mellon Fund Managers Limited) 

Balanced Fund 

Higher Income Fund 

Income Fund 

International Bond Fund 

International Growth Fund 

Managed Fund 

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SCHRODER 

Tokyo Fund 

UK Alpha Plus Fund 

UK Mid 250 Fund 

UK Smaller Companies Fund 

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www.legalandgeneral.com 

Legal & General Assurance Society Limited 

Registered in England No.166055 

Registered office: One Coleman Street, London EC2R 5AA 

We are authorised and regulated by the Financial Services Authority. 

We are members of the Association of British Insurers. 

W11837 04/11 Approved: 06/10 H111260

INVESTMENT OPTIONS. - Legal & General

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