Scottish Widows With Profits Funds

Scottish Widows

Ownership status

Scottish Widows are owned by Lloyds TSB PLC.

The size of Scottish Widows with-profits fund is £18.5 billion

Range of Policies

In Total SW have a total of 32 different tyes of with-profit policies ranging from the old Conventional Endowment and pension through to the more modern, unitised policies.

SW also offer three different type of with profit bonds; The united life with profit bond; A flexible options bond with-profits growth policy; and the flexible options bond with-profits income fund.

They also have a with profits unitised annuity.

Financial Strength

The rating agency Moody’s has rated Scottish Widows as Aa1 (excellent) (source: Moody's, April 2005 and still valid)

The rating agency Standard & Poor’s has rated Scottish Widows as AA- (very strong) (source: Standard & Poor’s, September 2005 and still valid)

AKG Actuaries & Consultants has rated Scottish Widows as B+ (very strong) (source: AKG, September 2005 and still valid)

Typical Asset share

With-profits fund

Typical asset share in a with-profits policy taken out with Scottish provident (at Dec 06) was;

	31 December 2005	30 June 2006	31 December 2006
Fixed interest	34	32	31
Property	11	12	10
Equity shares UK shares Non-UK shares	41 10	43 8	43 8
Other investments	4	5	8

The size of the With Profits Fund as at 31 December 2006 is £18.5bn.

Flexible Options Bond - Growth Fund

	31 December 2005	30 June 2006	31 December 2006
Fixed interest	12	14	14
Property	15	13	13
Equity shares UK shares Non-UK shares	58 13	59 11	59 11
Other investments	1	3	3

Flexible Options Bond - Income Fund

	31 December 2005	30 June 2006	31 December 2006
Fixed interest	75	75	75
Property	25	24	24
Other investments	0	1	1

With-profits return and bonus history

The table below shows the return on various Scottish Widdows with-profits policies over a the month, six month, one, three, and five year periods

	3m return	6m return	1yr return	3yr return	5yr return	25yr return
Assurance WP life fund	0.0%	0.0%	0.0%	0.0%	2.4%	N/A
Sector average	0.5%	1.2%	3.0%	9.6%	16.3%	N/A

Unitised WP pension	0.7%	1.9%	2.6%	6.0%	11.0%	N/A
Sector average	0.6%	1.4%	3.3%	10.8%	18.2%	N/A

WP endowment	N/A	N/A	N/A	N/A	N/A	7.3

Source: www.trustnet.com

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