Pension Portfolio Three Pension PDF Factsheet

FACTSHEET

30 November 2019

Pension Fund

Scottish Widows Pension Portfolio Three Pension (Series 2)

Asset Allocation (as at 30/09/2019)

UK Equities Europe ex UK Equities US Equities Global Fixed Interest Other Global Emerging Market Equities UK Fixed Interest US Corporate Fixed Interest Japanese Equities Asia Pacific ex Japan Equities

21.3% 13.6% 12.1% 10.5% 10.3%

9.1% 8.0% 6.3% 6.2% 2.7%

The composition of asset mix and asset allocation may change at any time and exclude cash unless otherwise stated

This document is provided for the purpose of information only. This factsheet is intended for individuals who are familiar with investment terminology. Please contact your financial adviser if you need an explanation of the terms used. This material should not be relied upon as sufficient information to support an investment decision. The portfolio data on this factsheet is updated on a quarterly basis.

Fund Aim

The Fund aims to deliver long-term growth by investing in other funds. The Fund invests primarily in equities, with a proportion in fixed interest securities, by investing in passive* index tracking funds. The equity investments cover a mix of geographic regions and can include the UK, other developed markets and emerging markets. The fixed interest securities can be in sterling or other currencies and may be issued by governments or companies.This Fund will be reviewed periodically by Scottish Widows. In future the Fund could be invested in different funds and additional asset types, though the Fund will continue to invest primarily in equities.*Passive management is where the fund manager aims to match a benchmark index and will buy, sell or hold investments depending on the components of that index.

Basic Fund Information

Series 2 Unit Launch Date

06/02/2006

Fund Size

?7,049.6m

Sector

ABI Specialist

ISIN

GB00B09CD306

MEX ID

SWYLE2

SEDOL

B09CD30

Manager Name

David Winning, Matthew Davies

Manager Since

01/07/2014, 01/01/2010

Top Ten Holdings

(as at 30/09/2019) SSGA AUT UK EQUITY TRACKER FUND

SCOTTISH WIDOWS CORPORATE BOND TRACKER FUND

SSGA AUT EUROPE EX UK EQUITY TRACKER FUND

SSGA MPF NORTH AMERICAN EQUITY INDEX

ABERDEEN GLOBAL CORPORATE BOND TRACKER B ACC

SSGA MPF EMERGING MARKETS INDEX

SSGA MPF JAPAN EQUITY INDEX

SSGA MPF ASIA PACIFIC EX JAPAN EQUITY INDEX

SSGA AUT ASIA PACIFIC EX-JAPAN EQUITY TRACKER FUND

TOTAL

21.3% 18.5% 13.6% 12.7% 11.7%

9.1% 6.2% 4.1% 2.7% 99.9%

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Past Performance

50%

25%

0%

Dec 14

Mar 16

Jun 17

Sep 18

Dec 19

01/12/2014 - 29/11/2019 Powered by data from FE fundinfo

Pension Portfolio Three Pension Series 2

Past performance is not a guide to future performance. Investment value and income from it may fall as well as rise, as a result of market and currency movements. You may not get back the amount originally invested.

Discrete Performance

30/09/2018 - 30/09/2017 - 30/09/2016 - 30/09/2015 - 30/09/2014 30/09/2019 30/09/2018 30/09/2017 30/09/2016 30/09/2015

Scottish Widows Pension Portfolio Three Pension (Series 2)

5.7%

5.4%

8.1%

25.3%

-1.7%

Information is shown as unavailable if prior to the launch of fund.

Cumulative Performance

30/10/2019 - 30/08/2019 - 30/11/2018 - 30/11/2016 - 30/11/2014 30/11/2019 30/11/2019 30/11/2019 30/11/2019 30/11/2019

Scottish Widows Pension Portfolio Three Pension (Series 2)

1.3%

2.0%

10.3%

22.5%

43.2%

Source: FE fundinfo as at 30/11/2019

Performance figures are in ? Sterling on a single pricing basis, with income (where applicable) reinvested net of UK tax and net of total annual fund charges. These figures do not include any initial charge or other product charge(s) that may be applicable.

Fund Rating Information

Overall Morningstar

-

Rating

Morningstar Analyst

-

Rating

FE fundinfo Crown Rating

The FE fundinfo Crown Rating relates to this fund. However, the Morningstar ratings are based on the underlying fund. These are supplied by the respective independent ratings agencies and are the latest available at the time this factsheet was issued. Past performance is not a reliable indicator of future results.

Other Information

The views, opinions and forecasts expressed in this document are those of the fund manager. Investment markets and conditions can change rapidly and as such the views expressed should not be taken as statement of fact, nor should reliance be placed on these views when making investment decisions.

Scottish Widows 15 Dalkeith Road Edinburgh EH16 5BU

Not all products have access to this fund, please refer to the relevant product literature. Full terms and conditions are available on request from us using the contact details provided. Charges, terms and the selection of funds we make available may change. Information on the general and specific risks associated with investing in this fund is available in the relevant fund guide, or KIID where applicable. We may change the investment approach rating for the fund. All information is sourced from Scottish Widows or the relevant fund management group unless otherwise stated.

Quarterly Fund Manager Review

In a volatile quarter, UK stocks rose overall. Initially, a weak pound boosted companies that make significant profits overseas, but shares fell after Boris Johnson became prime minister, as this was seen as increasing the chances of a no-deal Brexit. The market rallied in September, however, as the USChina trade dispute cooled and Parliament passed legislation to prevent a no-deal scenario. Government bond indices rose over the quarter. Initially, bond prices rose in reaction to the threat of global recession, political turmoil in Europe and anxiety over the escalation of the US-China trade dispute. In September, however, US Treasuries reversed direction, delivering their worst monthly performance in a year. This came as the Federal Reserve cut rates for the second time in the quarter but said that it expected no further cuts in 2019. The 10-year UK gilt yield fell from 0.83% to 0.49% over the quarter. Corporate bonds continued to rally in the third quarter, driven by the sharp fall in government bond yields, which meant that corporate bonds were seen as a more attractive investment.

David Winning, Matthew Davies 30/09/2019 The views, opinions and forecasts expressed in this document are those of the fund management house. Investment markets and conditions can change rapidly and as such the views expressed should not be taken as statements of fact, nor should reliance be placed on these views when making investment decisions.

Scottish Widows Limited. Registered in England and Wales No. 3196171. Registered Office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 181655.

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