Barclays Global Investor  

How we invest

Philosophy

The beauty of Spinnaker is its simplicity combined with a low cost long-term solution; so everybody benefits.

The Fund Range

To keep costs to a minimum, Spinnaker offers a wide range of mainly passive funds offered by our selected investment managers, Legal & General Investment Management Ltd.

The funds available are:-

L&G Consensus L&G Over 15 Year Gilts Index
L&G UK Equity Index L&G Pre Retirement Fund
L&G Global Equity (70:30) Index L&G AAA-AA-A Corporate Bond
L&G Global Equity Fixed Weights (60:40) Index L&G Long Dated Bond
L&G Cash  

What about Lifestyling?

A Lifestyling option is available to participating employer Schemes. Investments will be initially invested in the Consensus fund up until 7 years from retirement. Member investments will then be gradually switched automatically into the L&G Pre Retirement Fund. At Normal Retirement Date the member will have a 75:25 mix with 25% held in Cash.

What about a Default fund?

Participating schemes can chose a default fund for members. This will either be L&G Consensus or Lifestyling.

What about charges?

There are no bid/offer spreads when purchasing and selling units, nor are there any administration fees. All members receive 100% allocation to buy units. There are also no exit penalties to transfer out of the Spinnaker product. The only charge is an annual management charge negotiated on a case by case basis.

What about "in specie" transfers?

For large transfers of members funds we can consider "in specie" transfers. Please contact Michael Kirk & Partners for full details.

What about switching?

Members will be able to switch existing units held to another fund in the Spinnaker range. There will be no switching charges.

What about active funds?

Spinnaker will consider providing participating employers with an "active fund" range. The quoted annual management charges would obviously be higher than the base charge.

How can members obtain information?

Members will:

  1. Receive an SMPI statement as at 31st December each Year
  2. Receive a newsletter with investment statistics
  3. Receive "pop accounts" as at 31st December
  4. Have web access to obtain valuations (with unique ID & Password)
  5. Have access to the Spinnaker administrators, Michael Kirk & Partners
  6. Log on to www.lgim.com