7    Using discretion to manage our unit-linked funds
Discretion is where the Society makes a choice on the most appropriate course of action to take. In excercising our discretion, we aim to treat all policyholders fairly whether they are joining a fund, leaving a fund, or remaining as an investor within a fund.
We will review charges at least annually to make sure they not only cover the cost of our expenses but are fair. If there is any change in the future, we will write to you.
Fund Investment Objective and Risk
We will review the investments in each fund to ensure they meet the objective. We also consider the risk associated with each type of fund and amend the risk profile as necessary.
More information on the investment profile and risk of each fund can be found on the Society's website www.equitable.co.uk.
Valuation of the fund’s investments
The Society’s unit- linked funds are invested in open ended investment companies which match the fund objective to give exposure to a wide range of investments. The pricing basis of the underlying investment may be changed by the Fund Manager to ensure fairness to those joining, leaving or staying in the fund.
Where we do not have a current valuation for a particular investment, we may use a previous price, or update the previous price using an appropriate index or other method agreed by our Unit Pricing Committee.
Each year we also review when the funds are priced (currently daily at noon) to ensure it remains appropriate and fair.
Taxation on unit-linked funds Back to front page Using discretion to manage our unit-linked funds continued