GSK Pension Scheme: Changes to the GSK Diversified Growth and GSK Lifecycle Funds

28 October 2020

GSK Pension Scheme publishes on its website:

“We are writing to let you know that changes have been made to the GSK Diversified Growth and GSK Lifecycle Funds. Earlier this year, the Trustees amended the underlying allocations of both the GSK Diversified Growth Fund and the GSK Lifecycle Fund. The purpose of this announcement is to provide you with the background to these changes. You do not need to take any action as a result.

What Has Changed?

The Trustees regularly review the investment options offered to members in the GSK Pension Plans. At the last review, the Trustees decided to make some changes to the structure of the GSK Diversified Growth and GSK Lifecycle Funds. These changes are summarised below:

• The Trustees have decided to rebalance the GSK Lifecycle Fund to 65% GSK Equity Fund and 35% GSK Diversified Growth Fund. This change is designed to reduce the dependence on equities to drive investment returns of the GSK Lifecycle Fund and hopes to provide a smoother investment journey for members.
• The Trustees have decided to change the mix of allocations that underlie the GSK Diversified Growth Fund, by adding new allocations to additional funds, namely the Fulcrum Diversified Absolute Return Strategy and the Man Group Alternative Risk Premia Strategy. This change is designed to provide additional sources of return, whilst also reducing the dependence on any one fund manager to drive performance.

The Trustees consider these changes to be in the best interest of members and took advice from the GSK Pension Plans’ investment advisors when considering the changes to be made. The Trustees regularly review the underlying funds within these arrangements, and will make changes if they deem this is appropriate and in the best interests of members.

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