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).

Balanced Fund
The Balanced Fund is Penny's default fund. It is managed by HSBC. The full name of the Balanced Fund is: HSBC Global Strategy Balanced Portfolio (Accumulation) C.
Fund Fact Sheet ›
Cautious Fund
The Cautious Fund has a lower risk rating than the Balanced Fund. It is managed by HSBC. The full name of the Cautious Fund is: HSBC Global Strategy Cautious Portfolio (Accumulation) C.
Ethical Fund
The Ethical Fund aims to screen out certain investments based on environmental, social and governance criteria. It is managed by Vanguard. The full name of the Ethical Fund is: Vanguard ESG Developed World All Cap Equity Index Fund.
Pensions are long term investments. Investments can go up as well as down. Capital at risk. Investments in Penny Pension Plans are eligible for protection from the Financial Services Compensation Scheme (FSCS).