VIRGIN MONEY PENSION DEFENSIVE FUND

Where your money's invested

This fund is a multi-asset fund-of-funds investing globally. At least 75% of your money is in funds with a lower risk and return profile, like investment grade bonds and government bonds. Up to 25% of your money is in funds with higher potential returns but with a higher level of risk, like shares.

Which regions?

The following is up-to-date as of 30 June 2023

38.0%	North America
27.8%	UK
20.2%	Europe (excluding UK)
13.2%	Asia Pacific
0.6%	Latin America
0.2%	Africa

Top Holdings

The following is up-to-date as of 30 June 2023

16.7%	Aberdeen Standard Liquidity Fund
15.1%	Vanguard UK Government Bond Index
13.0%	abrdn Global Short Dated Corporate Bond Tracker
9.9%	abrdn Global Inflation-Linked Bond Tracker Fund
7.2%	abrdn Short Dated Global Inflation-Linked Bond Tracker Fund
5.5%	Payden Global Government Bond Index Fund
5.5%	abrdn Global Government Bond Index Fund
5.0%	abrdn American Equity Tracker Fund
4.1%	abrdn Short Dated Sterling Corporate Bond Tracker
3.9%	abrdn Asia Pacific ex-Japan Tracker Fund

How has this fund performed in recent years?

This fund launched in November 2020. For the period before November 2020, to help you compare it with other funds we have replicated the performance of the markets the funds invest in, to give an indication of what the performance may have been prior to its launch. The simulated return takes into account an annual cost of 0.70% and that the mix of assets are re-balanced once per month.

The fund doesn’t use a benchmark as a guide for investing or as a target to beat. But we do use a performance comparator which investors may want to compare the fund’s performance against. This is the Bank of England Base Rate +0.75%, which represents an incremental return over and above cash savings, in keeping with the lower risk / defensive nature of the fund.

Remember, past performance is not a reliable guide to the future. The value of your investment can go down as well as up, and you may get back less than you invest. This is a medium to long term investment so you should be prepared to invest your money for at least 5 years.

Percentage growth

	June 2018 to June 2019	June 2019 to June 2020	June 2020 to June 2021	June 2021 to June 2022	June 2022 to June 2023
Virgin Money Pension Defensive Fund	4.0%	3.0%	3.3%	-6.7%	-0.7%
Performance Comparator	1.5%	1.3%	0.9%	1.2%	4.0%

Source Lipper, total return (income reinvested). The returns shown above are based on index returns (see above) up until 29.10.20 thereafter actual returns are used. Lump sum invested 30 June 2018 to 30 June 2023. For details of the performance comparator for each fund please see the respective Key Investor Information Document.

Based on the simulated performance data outlined above, if you had invested £10,000 in the Virgin Pension Defensive Fund on 30 June 2018, it would be worth £10,246 after charges on 30 June 2023.

Charges and account information

Charges

With this fund you'll only pay the annual ongoing charge.

Annual ongoing charge	0.70%
Other fees	None

Other information

Min balance	From £1
Tax relief	All contributions automatically topped up by 25%. You may be able to claim more. Show risk vs reward help Close risk vs reward help Tax relief means the taxman tops up each pension payment by 25%, whether you're employed, self-employed or not employed. Each year, most people can contribute tax-free up to the lower of 100% of your salary or £40,000. However the rules can be complicated so if you are unsure visit HMRC's Tax On Your Private Pension Contributions Link opens in a new window for more information. If you earn £200,000 or more the rules for you are different and you should read about the Government’s new tapered annual allowance Link opens in a new window. Tax depends on your individual circumstances and may change in the future.
Regular payments	Start and stop your payments or change your payment amount whenever you need to.
Pay in additional lump sums	At any time
Switch funds	At any time
Employer contributions allowed	Yes
Transfers allowed	Yes
Service	24/7 online access and UK-based call centres
FSCS protection	Up to £85,000 of your pension savings are protected by the FSCS

Virgin Money Defensive Fund Key Investor Information Document (PDF)