Scottish Widows launches two new Multi-Manager funds

Scottish Widows is to add two new Multi-Manager funds to its core range of pensions funds. The Scottish Widows Multi-Manager Diversity Fund and Scottish Widows Multi-Manager Select Boutiques Fund, managed by Scottish Widows Investment Partnership (SWIP), will be available from 26 May.

The funds offer diversification across markets, geographic regions and investment managers. The Scottish Widows Multi-Manager Diversity Fund achieves this diversification by investing across a wide range of assets - equities, bonds, property, commodities, funds of hedge funds and cash - and management styles. The Scottish Widows Multi-Manager Select Boutiques Fund creates a diversified global equity portfolio by combining what the managers believe to be some of the best funds from specialist and boutique investment houses.

Iain McGowan, Head of Retirement Income & Planning at Scottish Widows commented, "We recognise the need for Scottish Widows' pension propositions to support a range of investment advice models. We increasingly see advisers looking to play to their strengths, which may lead to the introduction of multi-manager investment for many clients. We are delighted to strengthen our offer in recognition of this demand."

Both of the underlying OEIC funds have had an OBSR A rating since May 2008 and have achieved first quartile performance since SWIP launched them in December 2007 (as at 30 April 2009).

The funds are run by lead fund managers, Mark Harries and Simon Wood. Both have recently been awarded an AAA rating by Citywire (18 May 2009), and were also named Citywire's Active Managed Fund Manager of the Year 2009.

Alasdair Fraser, Head of Investment Services, Scottish Widows said, "These funds are run by two of the most highly regarded multi-managers in the UK, Mark Harries and Simon Wood, and will form a cornerstone of our investment offer going forward. Providing investors with more choice will become increasingly important and multi-manager investing has a significant role to play in this. The Multi-Manager Diversity Fund and Multi-Manager Select Boutiques Fund are in the hands of an experienced duo and we are delighted to be taking them to market."

Mark Harries, Head of Multi-Manager at SWIP, added, "We are delighted to be added to the Scottish Widows range of core pension funds and see this as a significant testament to the quality of the Multi- Manager funds. Advisers are increasingly delegating asset allocation and fund selection to multi-managers with deep resources and strong performance track records."

For more information, visit scottishwidows.co.uk