Progressive
31 May 2017
SW SSgA Index Linked Gilts Over 5 Years
Index Pension (Series 3)
Pension Fund
Asset Allocation (as at 31/03/2017)
■ Global Government Fixed Interest
100.0%
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
Credit Rating Breakdown (as at 31/03/2017)
■ AA
100.0%
State Street Global Advisers describe their fund's
aim as follows: The fund aims to track the FTSE
Actuaries British Government Over 5 Years Index
Linked Gilts index, or its recognised replacement
or equivalent. The fund will primarily invest in a
sample of bonds constituting the above Index
although stock index futures can be used for
efficient portfolio management.
Basic Fund Information
Series 3 Unit Launch Date
21/04/2008
Fund Size
Sector
£94.7m
ABI UK Index - Linked
Gilts
ISIN
Maturity Breakdown (as at 31/03/2017)
■
■
Long dated bonds
Medium dated bonds
86.2%
13.8%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
The composition of asset mix and asset allocation may change at any time and exclude cash
unless otherwise stated
GB00B2PGHT41
MEX ID
SWGOY3
SEDOL
B2PGHT4
Manager Name
-
Manager Since
-
Top Ten Holdings
(as at 30/04/2017)
TREASURY 1.25% IDX-LKD GILT
22/11/55 GBP0.01
6.1%
TREASURY 0.125% GILT 22/03/68
GBP0.01
5.8%
TREASURY 0.375% IDX-LKD GILT
22/03/62 GBP
5.7%
TREASURY 0.5% IDX LKD GILT 22/3/50
GBP0.01
5.0%
TREASURY 0.75% IDX LKD GILT
22/11/47 GBP
4.9%
TREASURY 1.125% IDX GILT 22/11/37
GBP
4.9%
TREASURY 0.625% IDX-LKD GILT
22/3/40 GBP0.01
4.8%
TREASURY 0.125% IDX LKD GILT
22/3/44 GBP0.01
4.6%
TREASURY 0.25% IDX LKD GILT 22/3/52
GBP0.01
4.4%
TREASURY 1.25% IDX-LKD GILT
22/11/27 GBP0.01
4.4%
TOTAL % OF FUND
50.6%
Page 1
SW SSgA Index Linked Gilts Over 5 Years Index Pension (Series 3)31/05/2012
ABI UK Index - Linked Gilts
Mar 17
May 17
Dec 16
Sep 16
Jun 16
Mar 16
Dec 15
Sep 15
Jun 15
Mar 15
Dec 14
Sep 14
Jun 14
Mar 14
Fund Rating Information
Dec 13
Sep 13
Jun 13
Mar 13
Dec 12
Sep 12
60.0%
55.0%
50.0%
45.0%
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
-5.0%
-10.0%
May 12
Past Performance
- 31/05/2017 Powered by data from FE
Discrete Performance
31/03/2016- 31/03/2015- 31/03/2014- 31/03/2013- 31/03/201231/03/2017 31/03/2016 31/03/2015 31/03/2014 31/03/2013
SW SSgA Index Linked Gilts Over 5
Years Index Pension (Series 3)
20.9%
-1.2%
22.1%
-5.2%
10.1%
ABI UK Index - Linked Gilts
18.7%
-0.6%
19.4%
-4.4%
9.7%
Information is shown as unavailable if prior to the launch of fund.
Cumulative Performance
30/04/2017- 28/02/2017- 31/05/2016- 31/05/2014- 31/05/201231/05/2017 31/05/2017 31/05/2017 31/05/2017 31/05/2017
Quartile
ABI UK Index - Linked Gilts
***
Morningstar Analyst Rating
-
FE Crown Rating
-
The FE 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, not should
reliance be placed on these views when making
investment decisions
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.
SW SSgA Index Linked Gilts Over 5
Years Index Pension (Series 3)
Overall Morningstar Rating
0.8%
2.3%
23.4%
45.3%
53.0%
3
2
2
2
2
0.8%
2.1%
21.0%
40.5%
48.4%
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.
Source: FE as at 31/05/2017
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.
Quarterly Fund Manager Review
Over the first quarter of 2017, the FTSE UK Inflation-Linked Gilts Over 5 Year Index was up 1.99%, ahead of the comparative all-maturity index, which
was up 1.90%. The inflation-linked market continued to outperform the nominal gilt market in the UK’s more inflationary environment. Both markets
benefitted from a tapering of the reflation theme and an improvement in global bond markets after the end of 2016. The Bank of England (BoE) decided
to let their quantitative easing (QE) programme expire, but did not take any further action as data improved. A more complex picture emerged for the
BoE as economic data continued its solid run; Q4 GDP was 0.7% quarter on quarter and 2016 growth of 1.8% was ahead of post-Brexit expectations. In
addition, unemployment fell to its lowest level in 40 years and inflation shot up to 2.3% year on year in February. However, at the same time the Bank
still forecasts a delayed Brexit-slowdown to come this year. This midterm outlook kept the Monetary Policy Committee (MPC) on hold over the period,
but Kristin Forbes did dissent, voting for a hike in March, and the minutes of the March meeting stated some other members would reconsider their
stance with “relatively little further upside news”.
31/03/2017
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.
Page 2