Announcing a fund manager change

Your fund manager is changing from Sanlam Investment UK to Ninety One UK.

Ninety One is an active, global investment manager, providing long-term investment returns for investors while making a positive difference to people and the planet.

What’s the reason for this change?
Ninety One and Sanlam Investments are entering into a long-term relationship, with Ninety One taking over the actively managed assets from Sanlam Investments.

Funds affected by this change:

➢ SIP European Equity

➢ SIP Gilt-Edged

➢ SIP Far East – excluding Japan Equity 

➢ SIP Far East – including Japan Equity

➢ SIP Interest

➢ SIP International Equity

➢ SIP Japan Equity

➢ SIP Managed

➢ SIP North American Equity

➢ SIP Property

➢ SIP UK Equity

Who are Ninety One?

A fund management company that believes active investing can be a force for good.

Investment capabilities: 

  • A global investment manager with an emerging market heritage that influences their approach. It’s a heritage that brings a special perspective to active investing, enabling Ninety One to find opportunities for their investors in all kinds of places.

  • Focused on specialist equity and differentiated fixed income & credit, where Ninety One has a distinctive edge, they have access to the vast commercial opportunities presented by the world’s turn towards a sustainable future – particularly in emerging markets.

  • Ninety One wants to be socially useful in allocating capital by applying their experience as well as pragmatism.

  • As trusted guardians of their investors’ money, they want to profit from the innovation and evolution that change brings while advocating for positive change in the world.

  • Their approach combines traditional capitalist thinking with modern development ideas.

Find out more

Will this change affect my fund? 

Some of the funds to be managed by Ninety One will see a reduction of their fund manager fees as shown in the table here:

Policyholder fund

 Fund Management reduced by %
SIP European Equity  0.1
SIP International Equity 0.2
SIP North American Equity 0.1
SIP UK Equity 0.1
SIP Managed 0.2
SIP Far East - excluding Japan Equity Fund 0.1
SIP Far East - including Japan Equity Fund 0.17*
SIP Property 0.01

*Weighted average reduction

The fund management fee for the following funds will remain unchanged:

➢ SIP Interest

➢ SIP Japan Equity

➢ SIP Gilt-Edged

All you need to know about your investment can be found here.

SIP European & Property Funds

We’re highlighting these two funds in particular because Ninety One proposes to make more in-depth changes as they aim to broaden this fund’s investment opportunities.

For example:

SIP European Equity Fund

a) To broaden the geographical coverage of the fund by focusing on companies in Europe, and unlike the current fund, include the UK.

b) The inclusion of investment opportunities in the UK changes the benchmark currently used to measure performance to the MSCI Europe (GBP Total Return – Net).†

SIP Property Fund

a) To change this fund’s investment policy by widening the geographical focus and looking beyond commercial properties solely in the UK to include global listed property companies, including real estate investment trusts (REITs).

b) The shift of geographical focus requires a change from the current performance benchmark to FTSE EPRA* Nareit^ Developed Market Index.‡