Best Execution Report

Part 1: top five entities used for the transmission or placing of client orders 30/4/2018

Where we send investment applications or orders on your behalf to third parties (for example, to buy or sell investment holdings), we make every effort to ensure the best possible result for our clients. This is referred to as best execution. We may transmit or place the order via a third party platform (an online investment administration service), directly with a fund manager or with a stockbroker, to execute your order.

We’re obliged to disclose on an annual basis the top five firms that we send our client orders to. The tables below relate to the period 01/4/2017 – 01/4/2018:

Class of investment Other investments (includes collective investments)

 

Notification if < 1 average trade per business day in the previous year yes
Top 5 venues ranked in terms of volume (descending order) Proportion of volume transmitted as a percentage of total in that class Proportion of orders transmitted as percentage of total in that class
Nucleus               213800YJ6ICL35SXO583 22.6% 21.1%
Prudential           549300O25PYTRUFEI882 21.0% 22.7%
AEGON                 213800UEB5PQMZYOFM66 7.56% 4.80%
Brewin Dolphin 213800PLIGVGFM4K2R87 7.14% 2.10%
AJ Bell                   213800Y4I7TN34WUBD71 4.20% 1.21%

Part 2: monitoring and review

We operate in accordance with our best execution policy. Please ask, if you want to see a copy of our policy.

Under the terms of our policy, we regularly assess the third parties available to us to identify those that will enable us, on a consistent basis, to obtain the best possible result when arranging for the execution of your orders.

The third parties that we use, also have responsibilities in relation to best execution and client order handling. We undertake periodic monitoring to make sure that they continue to meet our requirements. This review is carried out at least annually or whenever a significant change occurs that we feel could affect our ability to continue to obtain the best possible results for our clients.