MANAGED GROWTH FUND 2.

Insight from our professional fund managers into exactly how your money is invested. This information is intended for individuals who are familiar with investment terminology. It should not be relied upon as sufficient information to support an investment decision.

Please be aware that the Asset Allocation, Top Holdings and Past Performance are not up-to-date and are currently under review.


Fund objective

The fund will typically focus on lower-risk assets, such as bonds and gilts. The fund aims to achieve:

  • a combination of income and capital growth by mainly investing in a portfolio of collective investment schemes
  • a broad exposure to diversified investments, including shares, bonds and gilts
  • property exposure via exposure to collective investment schemes.

Fund details

Below you will find basic information about the fund including launch date and size. You will also see a breakdown of the asset allocation and top holdings as at 31/03/2017.

Basic Fund Information

Fund Launch Date 26/03/2014
Fund Size £27.9m
Manager Name David Winning
Manager Since 27/09/2016

Asset Allocation

International Equities 13.7%
UK Equities 12.4%
Global Fixed Interest 52.6%
UK Fixed Interest 7.0%
Property 8.6%
Other 5.8%
Total % of fund 100.0%

Top Holdings

Scottish Widows Corporate Bond Shareclass W Accumulation 28.95%
Scottish Widows Corporate Bond 1 W Fund 15.39%
Scottish Widows UK All Share Tracker Fund X Acc 12.43%
ABERDEEN UK PROPERTY FEEDER UN ABERDEEN UK PTY FEEDER J INC 8.56%
Scottish Widows UK Fixed Interest Tracker W Acc 7.01%
Scottish Widows Fundamental Index Global Equity Fund X Acc 4.74%
Aberdeen Global High Yield Bonds Q Inc 3.04%
Scottish Widows International Equity Tracker X Acc 2.61%
Aberdeen Global - Emerging Markets Corporate Bond Fund I (GBP) Inc 2.61%
Aberdeen Global - Emerging Markets Local Currency Bond Fund Z-2 USD Acc 2.56%
Scottish Widows Emerging Markets Fund X Acc 2.28%
Nordea 1 - GBP Diversified Return Fund BD-GBP 2.09%
Scottish Widows Japan Growth X Acc 2.04%
Scottish Widows European Growth X Acc 2.03%
Insight Global Absolute Return Fund W Acc 2.03%
Payden Absolute Return Bond Fund Sterling Class (Accumulating) 1.67%
Aberdeen UK All Share Tracker Fund B Acc 0.00%
Aberdeen Corporate Bond Fund Q Inc 0.00%

Past Performance

Past performance is not a guide to future performance. Investment value and income from it may fall as well as rise, as a result of market and currency movements. You may not get back the amount originally invested.

Performance figures are in £ sterling on a single pricing basis, with income (where applicable) reinvested net of UK tax and net of total annual fund charges. These figures do not include any initial charge or other product charge(s) that may be applicable.

Discrete performance

Discrete performance

31/03/2017 - 31/03/2018

31/03/2016 - 31/03/2017

31/03/2015 - 31/03/2016

31/03/2014 - 31/03/2015

31/03/2013 - 31/03/2014

Managed Growth Fund 2

0.6%

11.3%

0.0%

10.4%

N/A

Managed Growth Fund 2


31/03/2017 - 31/03/2018

0.6%

31/03/2016 - 31/03/2017

11.3%

31/03/2015 - 31/03/2016

0.0%

31/03/2014 - 31/03/2015

10.4%

31/03/2013 - 31/03/2014

N/A

Quarterly Fund Manager Review

Each quarter the fund manager reviews how the fund has performed in the last quarter. The following review is for the last quarter:

  • January, global equity markets tumbled in early February on concerns that strong US economic growth would necessitate higher interest rates. Sentiment gradually recovered as the month progressed, helped by impressive corporate profits. Thereafter, though, the threat of a trade war between the US and China caused risk-averse investors to sell equities in March – ensuring that most global indices finished the quarter down. Bonds outperformed equities over the period. In the UK, the FTSE All-Share Index started on a positive note before ending the quarter firmly in negative territory. Besides global concerns about Sino-US trade and rising US interest rates, weakness in the UK housing market further unsettled investors. The Brexit developments remained centre stage, with news of a transition deal meeting with tentative approval in March. US equities were marginally down in the first quarter of 2018. Strong economic data in February led to fears of more aggressive interest-rate rises. However, markets bounced back on another round of robust corporate profits – only to plunge again after President Trump slapped tariffs on Chinese steel and aluminium imports. European bourses were also down over the quarter. Ireland and Poland were among the worst performers, while Finland and Italy were relatively resilient. The weakest returns came from consumer services and healthcare companies. Technology stocks delivered modestly positive return. Investor sentiment was affected by political uncertainty, particularly the lack of a clear winner in Italy’s general election. Bond markets experienced a difficult quarter as fears of higher-than-expected interest rates pushed bond yields sharply upwards. Global government bonds started the period poorly, as the ongoing strength of economic activity led investors to seek out riskier assets. However, as volatility in these asset classes rose in February, government bonds yields declined again. Corporate bonds began the period relatively well, but then fell back subsequently. Following strong performance in 2017, UK commercial real estate delivered further modest capital growth in early 2018. Sector performance continued to diverge widely, however. Industrials are still outperforming the other sectors, with retail the weakest area of the market.

Discretionary Multi Asset Strategies, David Winning 31/03/2018
The views, opinions and forecasts expressed in this document are those of the fund management house. Investment markets and conditions can change rapidly and as such the views expressed should not be taken as statements of fact, nor should reliance be placed on these views when making investment decisions.

Understand the risks

Please remember that the value of an investment and the income from it can go down as well as up and you may get back less than you invested. If you are in any doubt about making your own investment decisions we recommend you seek advice from a suitably qualified financial adviser.


How to apply

If you don’t already have a Halifax account with Online Banking facilities, you’ll need to open an account first. Some of our savings accounts can be opened online with a minimum deposit of as little as £1. View our savings accounts

Registered for Online Banking? You're ready to apply, but first find out more about what you'll need to have to hand.

Find out more and apply


Fund Factsheets

Our Key Investor Information Document aims to help you understand the nature and risks of investing in this fund.

Key Investor Information Document (PDF)


Halifax is a division of Bank of Scotland plc. Bank of Scotland plc, Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh, EH1 1YZ. Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). For further information about the compensation provided by the FSCS, refer to the FSCS website at www.fscs.org.uk/. You can also visit our Financial Services Compensation Scheme page for more details.

""

Eligible investments are protected up to a total of £50,000 by the Financial Services Compensation Scheme.

Find out more