In April 2014, Scottish Widows Investment Partnership (SWIP), became part of Aberdeen Asset Management (Aberdeen).
Several products provided by The Children’s Mutual, including Junior ISA, many Baby Bond Child Trust Funds (CTFs), Shariah Baby Bond CTF, Baby Bond Choice and Growing Up Bond invest in the “SWIP Foundation Growth Fund” and “SWIP Islamic Global Equity Fund”. The Funds are now managed by the Aberdeen Global Equity Team based in Edinburgh in line with Aberdeen’s long-standing equity investment process which focuses on quality and price.
With effect from the 1st November the SWIP Islamic Global Equity Fund benchmark changed to the MSCI All Countries World Islamic Index. The investment objective remains unchanged; as does the policy on adherence to Islamic Investment Guidelines; which continues to be overseen by the Shariah Advisory Board.
From the 24th November, the names of these funds change from “SWIP Foundation Growth” to “Aberdeen Foundation Growth” and for our Shariah CTF, from “SWIP Islamic Global Equity” to “Aberdeen Islamic Global Equity”.
More information about the funds can be found Aberdeen Asset Management’s microsite:
How will this affect my plan?
Apart from the name change, there should not be any impact to your plan. The funds’ objectives, investment strategies and charges remain the same.