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Wesleyan Pensions With Profits Fund

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					Wesleyan Pensions With Profits Fund
Fund fact sheet valid until 30 November 2010


Fund aim
The Wesleyan Pensions With Profits Fund aims to provide capital growth over a medium to long-term period by investing in UK and International
shares, fixed-interest stocks, property, cash and other related investments. The fund aims to avoid sharp rises and falls by ‘smoothing’ the return on
your investment over the period of the plan. Through ‘smoothing’, we may keep some of the investment growth back in periods of good return to
cushion any reduction in value when stock markets fall. However, it must be appreciated that ‘smoothing’ can not fully protect customers when
investment conditions decline over long periods. It is recommended that investments in the Wesleyan Pensions With Profits Fund are held for a
minimum of five years.

The table below shows the annual percentage growth rate (PGR) of the underlying assets within the Wesleyan Pension With Profits Fund over the
previous five years.


                                                   1 Jul 09 to             1 Jul 08 to           1 Jul 07 to          1 Jul 06 to         1 Jul 05 to
                                                   30 Jun 10               30 Jun 09             30 Jun 08            30 Jun 07           30 Jun 06
                                                      PGR                     PGR                   PGR                  PGR                 PGR

  Wesleyan Pension With Profits Fund*                21.93%                 -16.35%                -8.90%              16.46%              16.36%

Source: *Internal Figures


The table below shows the cumulative performance of the underlying assets within the Wesleyan Pension With Profits Fund over the previous one,
three and five years.


   As at 30/06/2010                                              1 year                                3 years                        5 years


   Wesleyan Pension With Profits Fund*                           21.93%                                -7.08%                         25.91%


Source: *Internal Figures


These figures do not take into consideration any ‘smoothing’ of your investment which aims to avoid sharp rises and falls over a period of time.

 Performance is on a total return basis with income reinvested.

 Past performance is not a guide to future performance and this information may not be current. Up-to-date past performance information can be
 found on the unit price area of the internet at www.wesleyan.co.uk.



Where your money is invested

                                        Sector allocation (30 June 2010)
                                            Equities (UK & Overseas) 67%             Fixed Interest 11%

                                            Property 12%                             Cash & Other 9%

                                            Index Linked 1%

                                        Top ten equity holdings (30 June 2010)
                                        Rio Tinto                HSBC          Vodafone Group              Standard Chartered       AstraZeneca
                                        GlaxoSmithKline          Diageo        Royal Dutch Shell           BP                       BG Group


Fund Provider:       Wesleyan Assurance Society
Fund Manager:        Mr M G Lewis
Fund Size:           £1,477.8 million
The results below are based on actual open-market fund values after all charges, as at 1 January 2010.



Regular premium investments

                                             5 years          10 years        15 years     20 years   Past performance information is taken from Money
                                                                                                      Management March 2010. It is based on
  Wesleyan Assurance                         £12,985          £27,915         £46,917      £97,906    contributions of £200 gross per month. It is assumed
                                                                                                      to have been paid by policyholders aged 60 years,
  Position/number of companies                10/19            16/34            22/42       9/42      55 years, 50 years or 45 years, with the final
                                                                                                      contribution paid one month before 65th birthday.
  Quartile                                       3                2                3          1

  Average company                            £13,008          £27,094          £47,530     £87,064




Lump sum investment

                                             5 years          10 years        15 years     20 years   Past performance information is taken from Money
                                                                                                      Management March 2010. It is based on a single
  Wesleyan Assurance                        £13,224          £16,023          £27,815      £53,218    lump-sum contribution of £10,000. It is assumed to
                                                                                                      have been paid by policyholders aged 60 years, 55
  Position/number of companies                 2/19             4/34             4/41       6/40      years, 50 years or 45 years, with the final contribution
                                                                                                      paid one month before 65th birthday.
  Quartile                                       1                1                1          1

  Average company                            £12,225          £13,606          £23,134     £42,103




  Past performance is not a guide to future performance. You may not get back the full amount of your investment. In addition to the return on
  investments within the fund, the bonuses that we declare will also depend on other factors including the amounts of profits or losses that we
  make from other business and whether these are allocated across our With Profits policies or retained by the Society. Terminal Bonuses may
  vary or be removed at any time and are therefore not guaranteed.

  If money invested in the With Profits Fund is taken out at any time, except on a death claim or at your selected retirement age, the amount
  paid out may be reduced to reflect the current market value of the underlying assets. This is known as a Market Value Reduction (MVR). The
  MVR calculation is used to protect the interest of With Profits policyholders. It makes sure that people who cash in do not reduce the value of
  the fund for those who continue to invest when investment conditions are adverse.

  Further information is available in our series of booklets ‘How our With Profits Fund works’. These are available on request or from our website.




Annual bonus rates
The following table shows the bonus rates we have declared over the past 10 years for unitised policies investing in the Pensions With Profits Fund.
We add this bonus gradually, by increasing the unit price for the Pensions With Profits Fund.


  Year                                                                    Rate
  1/4/00 to 1/4/01                                                        6.00%
  2/4/01 to 1/4/02                                                        5.75%
  2/4/02 to 31/12/02                                                      5.50%
  1/1/03 to 1/4/03                                                        4.75%
  2/4/03 to 1/4/05                                                        4.00%
  2/4/05 to 1/4/06                                                        3.50%
  2/4/06 to 30/9/06                                                       4.00%
  1/10/06 to 1/4/07                                                       4.25%
  2/4/07 to 1/4/08                                                        4.50%
  2/4/08 to 1/4/09                                                        4.75%
  2/4/09 to 1/4/10                                                        3.25%
  2/4/10 to present (series 1)                                            3.75%
  2/4/10 to present (other series)                                        3.25%

Please note that these figures are quoted gross of Annual Management Charge (AMC).
Please refer to your Key Features document for the AMC which is applied to your pension.
Financial strength has enabled us to maintain a consistent long-term investment strategy
• Pension With Profits policies are long-term investments, so they need a long-term investment strategy.
• For short-term investments particularly where regular withdrawals are required, other types of investments such as building society accounts
  are more secure and less volatile. However, over long periods of time (ten or more years) equities have typically outperformed these types of
  investments.
• Wesleyan’s investment strategy has therefore been to invest the majority of our Pensions With Profits Funds in equities – with excellent past
  performance results.
• Wesleyan’s excellent financial strength has been a key factor in our ability to maintain this investment strategy.

Why is this, and how does our financial strength compare to other companies?
Financial strength is particularly important as it reflects a company’s ability to maintain sufficient reserves to pay bonuses in the future and its
ability to invest in equities and Wesleyan’s financial strength continues to outshine competitors in a number of independent surveys.

The industry-respected financial strength ratings review from Cazalet Consulting provides an independently calculated ratings system, which
identifies the strengths and weaknesses of each company and rates their prospects.

As you can see below, in the latest survey, Wesleyan scored an excellent 10 out of 10 rating.

  Company                                         Cazalet rating (out of 10)
  Wesleyan                                                    10
  LV=                                                           10
  NFU Mutual                                                    10
  Prudential                                                     9
  CGNU Life/CULAC                                                8
  AXA Sun Life                                                   8
  Scottish Widows                                                7
  Scottish Equitable                                             7
  Legal & General                                                7
  Royal & London                                                 7
  Standard Life                                                4-7

Source: Cazalet Consulting 2009 With Profits Ratings. Companies shown have a rating of
7 or above. All figures are correct at time of going to print.

Please note that past performance is not a guide to future performance.
Some With Profits Fund providers, due to poor stock market performance, have had to make reductions in the amount of equities they invest in.
Wesleyan, through its sound financial strength and good management, has been able to maintain a high level of investment in equities.

The table below reveals a marked difference in the split of underlying assets of With Profits Funds. The average equity exposure is below 38%
despite eleven funds investing at least 50% in equities. Over the past five years, the average With Profits Fund’s equity content has dropped from
around two-thirds, however Wesleyan still remains strong with 63% exposed to equities.

The higher the equity exposure, the more likely the investment is to grow when the stock market rises, whereas a fund with a higher level of secure
investments such as gilts or corporate bonds is likely to increase less in value during periods of good stock market growth.

However, please remember that the value of equities can fall as well as rise and although growth potential over the longer term may be traditionally
better, equities do not provide the same level of security as alternative investments such as index-linked gilts or building society accounts,
especially when markets are falling.

It is important to note that With Profits is a medium to long-term investment and it is recommended that investments in the Wesleyan With Profits
Fund are held for a minimum of five years.

Asset allocation

 Scottish Equitable (Main)
      Wesleyan Assurance
   Co-operative Ins (Main)
        Standard Life - SH
      Guardian Assurance
Scottish Equitable (Closed)
                Axa (Main)
               LV= (Main)
              Axa (Closed)
              NFU Mutual
    London Life (Unitised)
                Prudential
          Scottish Widows
          MGM Advantage
          Legal & General
      Britannic Assurance
  Standard Life - As mix 3
    Norwich Union (Main)
          Clerical Medical
  Norwich Union (Closed)
  Standard Life - As mix 4
 Co-operative Ins (Closed)
       Scottish Life (Main)
              LV= (Closed)
  Standard Life - As mix 5
  Standard Life - As mix 1
     Scottish Life (Closed)
          Pearl Assurance
    National Provident Life
       London Life (Convl)
                 Britannia

                              0%                                    25%                                        50%                          75%   100%


                                   Total Equities      Property           Fixed Interest (including Bonds & Gilts)           Cash & Other

                               Source: Money Management, March 2010




Wesleyan Assurance Society
Head Office: Colmore Circus, Birmingham B4 6AR.
Tel: 0845 351 2352. Fax: 0121 200 2971.
Website: www.wesleyan.co.uk
Wesleyan Assurance Society is authorised and regulated by the Financial Services Authority. Incorporated by Private Act of
Parliament (No. ZC145). Telephone calls may be recorded for monitoring and training purposes.


WR-FUND-1-08/10

				
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