Scottish Widows adds private market funds to workplace pensions
Graeme Bold said: “Bringing private markets into workplace pensions is a major milestone in helping customers make the most of their retirement savings."
Scottish Widows has opened up private market investing for millions of workplace pension savers through new investment options.
Lifetime Investment Plus and Lifetime Investment Extra offer members more choice as they save for retirement.
Both options are part of the lifetime investment suite, which is fully governed and aims to support a sustainable income in retirement by investing across a range of assets with responsible investment included as standard.
The new funds invest in two strategies.
The growth portfolio, CG SW Growth LTAF, is managed by Aberdeen Investments and targets higher return assets such as private equity, venture capital, infrastructure equity and private credit.
The diversified private credit portfolio, CG SW Diversified Credit LTAF, is managed by BNP Paribas Asset Management and is aimed at the derisking phase, investing across private credit including infrastructure lending, real estate and SME debt.
Lifetime Investment Plus has around 11% invested in private markets, while Lifetime Investment Extra has around 23%.
Both use Scottish Widows’ bespoke long-term asset funds (LTAFs), which invest in a range of private market investments using global opportunities from local networks and experts.
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