Investment Performance & Services
Andrew Milligan – Independent Member
“The IGC is pleased with the overall performance of the main funds offered to ReAssure customers, but has questions about some of the smaller and older ones.”
Value for money indicator
Why we gave this score
Investment Performance
The performance of the five key default funds offered to ReAssure customers has been reasonable when compared with benchmarks, the funds offered by competitors, or inflation over the medium term.
Our score also reflects the performance of the with-profits funds, and the work in hand to improve long-term performance, for example, through strategic asset allocation changes.
Investment Services
The main default funds offered to ReAssure customers are well-designed, well-managed and administered in order to meet your expectations.
Our score reflects a regular assessment of the reports from the governance teams, particularly focusing on actions taken to address any performance or process issues which are uncovered.
- Past performance of the larger default funds is generally good.
- Work has started to improve a large number of smaller funds which do not compare well with those of competitors.
- The design of your default fund should deliver decent returns for when you retire.
- The process to deal with poorly performing funds has been improved.
- Most with-profits funds have performed well against inflation over the long-term.
- Annual guarantees can also be a useful feature of many with-profit funds.
- The design of the main default funds is suitable for their purposes.
- A review of older and smaller funds has begun which should lead to better outcomes.
- All funds and fund managers are regularly and closely examined, and actions taken where necessary.
- If you do not choose a default fund, then there is a wide range of suitable alternatives.
- The process to deal with poorly performing funds has been improved.
Some additional information
More information is available here (this link will take you to the website of Standard Life, which is part of the same group of companies as ReAssure).
