Consumer > Investment for Consumers > Advisory Committee > Managed Strategies Governance
Managed Strategies Governance
The Investment Advisory Committee (IAC) will discuss the ongoing suitability of our Managed Strategies at each quarterly meeting. A summary of what the committee will discuss is shown below. To view previous minutes of meetings, please visit our Meeting Summaries page.
Agreement of Managed Strategies benchmark asset allocations
The committee will be responsible for agreeing the benchmark asset allocations for the Managed Strategies portfolios. The committee will review the asset allocations on a quarterly basis, with input from Barrie & Hibbert to ensure the continued suitability of each strategy.
Fund performance review
The committee will review the performance of the Managed Strategies component funds on a quarterly basis. Each strategy will also be assessed against its objective to maximise real returns over the relevant term.
Allocation of risk budgets
The committee will be responsible for setting the risk budgets for the three Scottish Life Managed funds (Adventurous, Balanced and Defensive). These funds are benchmarked against the most appropriate strategy from the selection of Managed Strategies. Currently the Managed funds are benchmarked against the following strategies:
- Adventurous Managed Pension fund - Long Term Adventurous Managed Strategy
- Balanced Managed Pension fund - Medium Term Balanced Managed Strategy
- Defensive Managed Pension fund - Short Term Cautious Managed Strategy
Each of the three Managed funds has a predefined risk budget that enables Royal London Asset Management (RLAM), the managers of the Managed Strategies range, to deviate from the proposed asset allocation weightings of the accepted benchmark. Each meeting will include a performance attribution analysis to establish where, and how successfully the budget has been utilised.
