How we manage our unit linked funds

Please note that the value of investments can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of what might happen in the future. It is important that you regularly review your unit-linked investments to make sure that they fit your needs and that you are comfortable with the level of risk.

Utmost Life and Pensions have a guide which explains how our unit linked funds work and describes the standards and principles that we apply to managing them.

Heritage Equitable Life customers joining Utmost on 1 January 2020

Our multi-asset funds and sterling corporate bond are invested in Open Ended Investment Companies (OEICs) managed by J.P. Morgan Asset Management.

abrdn (formerly Aberdeen Standard Investments) will continue to manage some underlying investments in the funds which transferred to Utmost from the Equitable.

Click here to download Utmost Guide to how we manage our unit linked funds (Heritage ELAS)

Customers already with Utmost before January 2020

Our unit linked funds are mostly invested in other collective investment schemes managed by J.P. Morgan Asset Management, except for our property funds which are managed by Schroder Investment Management Limited.

This enables our unit linked funds to gain exposure to a wider variety of investments than would be possible if we invested directly in individual stocks and shares, and enables our funds to benefit from the experience and investment expertise of respected professional fund managers.

Click here to download Utmost Guide to how we manage our unit linked funds (Former Reliance Life)

Environmental, Social and Governance factors

Environmental, social and governance factors (ESG or sustainability) are integrated into the investment manager’s process.

J.P. Morgan Asset Management (JPMAM) is committed to delivering superior investment performance to its clients worldwide. They believe that explicit incorporation of material Environmental, Social and Governance information in the investment process can help to deliver enhanced, risk-adjusted returns over the long-run. JPMAM have been practicing sustainable investing, in some capacity, for more than 30 years. They became a signatory to the UN PRI in 2007 and are committed to incorporating ESG factors into their investment practices and decisions.

JPMAM offer various sustainable investing solutions across asset classes and geographies, and also have an established corporate engagement policy. They expect and encourage the companies in which they invest to demonstrate the highest standards of corporate governance and best business practice. JPMAM examines the share structure and voting structure of the companies in which they invest, as well as the board balance, oversight functions and remuneration policy. These analyses then form the basis of their proxy voting and engagement activity. They manage the voting rights of the shares entrusted to them as they would manage any other asset.

It is the policy of JPMAM to vote in a prudent and diligent manner, based exclusively on their reasonable judgment of what will best serve the financial interests of their clients. So far as is practicable, they will vote at all of the meetings called by companies in which they are invested.

We support the incorporation of ESG factors into the investment process by JPMAM.