12.5 The Trustee expects the investment managers to change underlying holdings only to an extent required to meet their investment objectives. The reasonableness of such turnover will vary by fund and change according to market conditions. The Trustee therefore does not set a specific portfolio turnover target for their strategy or the underlying funds. The investment managers provide information on portfolio turnover and associated costs to the Trustee so that this can be monitored, as appropriate.
12.6 The Trustee will consider on a regular basis whether or not the investment managers and AVC/defined contribution providers remain suitable to manage the Scheme’s investments.
13 Agreement
13.1 This statement has been agreed by the Trustee and replaces any previous statements.
This Statement of Investment Principles was approved by UTC Pension Trust Ltd as Trustee of the UTC (UK) Pension Scheme on 22 August 2023
UTC (UK) Pension Scheme | Statement of Investment Principles | 22 August 2023
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