LV= adds pension to smoothed fund range
By Tom Higgins 27
LV= has launched a smoothed pension to complement its range of smoothed managed funds.
Designed with cautious investors in mind, the aim of a smoothed pension is to reduce short-term market volatility. The new offering from LV= will allow smoothing to begin from the second day of investment, gradually averaging daily unit prices up to 26 weeks.
The funds are to be managed by Columbia Threadneedle Investments.
The introduction of gradual smoothing on entry is designed to reduce savers’ investment volatility right from the start of their plan.
LV= retirement director David Stevens said: “Many savers have felt the effects of volatile stock markets over the past 18 months on their pension pots. We have listened to feedback from financial advisers and their clients to increase the appeal of these funds even further, so that the benefits of smoothing starts working from day two of investment in
Phoenix buys Standard Life brand
Developments on 2018 deal
Phoenix has bought the Standard Life brand from Standard Life Aberdeen as part of another wide-ranging deal between the two financial giants.
This latest move is an acceleration of the strategic partnership the firms entered into after the £3.3bn deal Phoenix made for Standard Life Assurance in 2018. That deal saw around 3,500 employees move.
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