Three Scottish Widows life funds managed by Russell Investment Group have been moved into the ABI Un...
Three Scottish Widows life funds managed by Russell Investment Group have been moved into the ABI Unclassified sector. The Scottish Widows Progressive, Cautious and Balanced portfolios were deemed unclassifiable because Russell hedges the underlying currency of bonds in these portfolios. Jonathan Grant, investment-marketing manager at Scottish Widows, said: "These funds are not set up to be compared with the ABI sector so we do not see being moved to the Unclassified sector as a negative." Scottish Widows said it had to inform IFA clients about the change but it has not had a negative...
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