Norwich Union launches new pension investment funds

Article date: 13 September 2004

Norwich Union is enhancing its pension offering by launching 21new pension investment funds.*

The new funds will be available through corporate pensionschemes from 4 October and through individual pensions in December.This increases the breadth of funds available from Norwich Unionand provides access to a wider range of fund managers:

  • 14 external funds provided by four new fund managers,including Fidelity, Investec, Newton and Schroders.
  • 3 unfettered fund of funds with IMS acting as portfolioadviser
  • 3 new funds (Corporate Bond, Managed High Income and Worldleaders) from Norwich Union
  • 1 new fund (UK Dynamic) from existing provider MerrillLynch

The new range has been chosen following a careful selectionprocess and adviser research.

Three new unfettered fund of funds also provide scope to spreadthe risk by investing in a wide range of funds, offering a greaterdegree of balance in various market conditions for cautious or moreaggressive investors.

The new funds will complement the existing range and ensure thatNorwich Union continues to provide a flexible, high quality pensionoffering. The increased diversity in the fund range also providesadvisers with access to funds with a broad range of asset classesand investment philosophies, allowing them to more accurately meetthe needs of their clients.

Iain Oliver, head of pensions development, said: "We anticipatethat the increased diversity of investment funds available throughNorwich Union pensions will prove to be very popular withcustomers, giving them a wider variety of choice to meet theirneeds.

"The addition of these new funds is a significant step in thedevelopment of our pension offering. They have been selected tocomplement the existing range, giving access to a greater range ofinvestment classes and policies from Norwich Union and a selectionof leading fund managers."

-ends-

Press office contacts:
James Evans 01904 452791 Outof hours 07790 487105
Louise Soulsby 01904 452617 Out of hours 07810 057262
Rob Pell 01904 452659 Out of hours 07968 934091
David Gwyer 01904 452828 Out of hours 07800 699508

Notes to editors

  • Norwich Union is the UK's largest insurer. It is the UK'slargest provider of life, pensions and investment products and oneof the leading IFA providers. IFAs provide around 75% of thecompany's long-term savings business in the UK.
  • Norwich Union has strategic alliances with building societiesand other leading UK brand names including Tesco Personal Financeand The Royal Bank of Scotland Group. Norwich Union’s newsreleases and a selection of images are available from Aviva'sinternet press centre at www.aviva.com/media.

*The 21 new funds will be available on the followingproducts:

  • Designer Pension @ Norwich Union group personal pension
  • Variable Money Purchase Plan Millenium series, includingreplacement policies from these contracts
  • Variable Group AVC Millenium series, including replacementpolicies from these contracts
  • Defined Contribution Scheme Replacement
  • Trustee Investment Plan Millenium series
  • NU Group Personal Pension Plan (established with Norwich Unionfrom August 2000)
  • Individual Your Pension Select

Summary of the new funds:

Risk/return rating

Asset class

Fund provider

Fund

Low/medium

UK Fixed Interest

Norwich Union

Corporate Bond

Low/medium

UK Fixed Interest

Fidelity

Money Builder Income

Low/medium

UK Fixed Interest

Schroders

Gilt & Fixed Interest

Low/medium

Managed

Investec

Cautious Managed

Medium

International Bond

Norwich Union

Managed High Income

Medium

International Bond

Newton

International Bond

Medium

Managed

IMS

NU Cautious Fund of Funds

Medium

Managed

Fidelity

Managed

Medium/high

UK Equity

Fidelity

Special Situations

Medium/high

UK Equity

Newton

Higher Income

Medium/high

International Equity

Norwich Union

World Leaders

Medium/high

International Equity

Fidelity

European

Medium/high

Managed

IMS

NU Balanced Fund of Funds

High

UK Equity

Merrill Lynch

UK Dynamic

High

UK Equity

Schroders

UK Mid 250

High

UK Equity

Schroders

UK Alpha Plus

High

International Equity

Fidelity

America

High

International Equity

Fidelity

Japan

High

International Equity

Investec

America

High

International Equity

Newton

Oriental

High

Managed

IMS

NU Growth Fund of Funds

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