Change to international equities structure and managers

In May 2007, BT made changes to the International shares component of the BT Multi-manager Funds, to ensure the highest quality mix of investment managers are utilised and that the selected managers are accessed in the most effective way.

The changes resulted from a review of the way in which the funds gain exposure to international shares through the current and reserve managers.

Summary of changes

  • We have changed the way we gain our active international shares exposure, from investing primarily into a pooled vehicle, to now mostly accessing our investment managers directly.
  • We appointed MFS Institutional Advisers to the international equity portfolio.
  • We increased our allocation to Trilogy Global Advisers and Bernstein Value Equities.
  • We have increased the active component of the funds, by reducing exposure to State Street Global Advisers and removing all exposure to Barclays Global Advisers.

The latest enhancements to international shares demonstrate the Investment Solutions team’s ability to access diverse strategies from the best investment managers around the world. This is the next stage in our strategy to build the BT Multi-manager funds to further enjoy both higher levels of returns and lower levels of risk – all at no extra cost to our investors.