Funds
Penny offers a range of three funds: Balanced, Cautious and Ethical. Each fund is managed by either HSBC or Vanguard, two of the world’s largest fund managers.
Please see below for more information on each of the three funds, as well as the link to each fund's Key Investor Information Document (KIID).
About investment funds
Most pensions are invested in one or more investment funds. The aim of investing money in an investment fund is to grow the money into a larger amount, so that you have more money when you retire.
Depending on the type of investment fund, your money could be invested in property, shares, bonds, or (most commonly) a mixture of different types of investments.
Investment funds have different investment strategies. For example, some funds may aim for a higher growth strategy, but these funds may be riskier, meaning the value of the fund could rise and fall more than less-risky funds which aim for lower growth. Alternatively, some funds may have an investment strategy of ethical or socially responsible investments, meaning their investments follow certain ethical and social criteria.
You can read about Penny's fund options above, and by reading the Fund Fact Sheets. You can also ask any fund-related questions to Penny's Support team anytime.
About our fund managers
HSBC Asset Management is the asset management division of HSBC, a global bank and Europe's largest bank by assets. The division has 645 investment professionals across 26 countries and assets of approximately £550 billion under management. HSBC has its global headquarters in London, UK.
Vanguard (The Vanguard Group, Inc) is a US asset management firm. Vanguard is one of the world's largest asset managers, with over $8 trillion under management. Vanguard offers a broad range of investment services to individuals, companies, institutions, and has its global headquarters in Philadelphia, US.
