Scottish Widows has launched a range four multi-asset funds targeted at those in income drawdown.
The insurer said the fund range - which has an annual charge of 0.20% - aims to reduce the risk of capital loss for drawdown members by reducing equity exposure in as market volatility increases, increasing these exposures once markets recover.
Scottish Widows head of fund proposition Iain McGowan said members need an investment strategy that balances the potential for investment growth with the desire to mitigate significant losses.
He said: "The retirement portfolio funds recognise customers' need for real growth to help protect their income and lifestyle from inflation, while balancing that exposure with an appropriate level of investment risk.
"Our new funds are designed to address both of these requirements, without the need for expensive guarantees or complicated hybrid design."
The fund range invest assets in UK and global fixed-interest and equities, use index-tracking investments to help keep costs down, and cater to a broad spectrum of risk appetites.
Scottish Widows said the portfolios will be available for individual members who remain invested and use the income drawdown facility in retirement, as well as those in workplace pension schemes.
Members approaching retirement and transitioning their investments ahead of moving into drawdown will also be able to use these funds.
The four funds will have differing levels of equity weightings as follows:
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