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IN THIS ISSUE
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LIFE SAVER Anthony Luzio asks if the Lifetime ISA will encourage people to take more responsibility for their retirement planning P . 2-7 / WE ’ RE INVESTING IN UGLY DUCKLINGS The Scottish Investment Trust buys companies shunned by the rest of the market in the expectation they will grow into “ fully fledged swans ” P . 8-9 / DOES SIZE MATTER ? Do economies of scale for larger DC pension plans mean you should you be concerned if you aren ’ t in one ? Maggie Williams finds out P . 10-12 / THE THINKING APPROACH Monks IT ’ s Charles Plowden says genuine active funds with features that mark them as likely to outperform are a better bet than passives P . 14-15 / MY CUP RUNNETH OVER Pádraig Floyd finds out how you can avoid joining the growing number of people breaching tax-free pension limits P . 16-18 / FUND , PENSION , TRUST Rathbone Global Opportunities , SVM UK Opportunities and Standard Life UK Smaller Companies Trust find themselves under the spotlight this month P . 20-23 / DODGING THE BULLETS The ability to side-step volatility will be key for bond fund managers in an era of rising yields , says Adam Lewis P . 24-27 / STEPPING UP A new , higher allowance means ISAs may be ready to compete with pensions when it comes to retirement saving , writes John Blowers P . 28-30 / BEST OF BOTH WORLDS Fidelity ’ s Alex Wright highlights three defensive stocks that can now be classed as value trades P . 32 / WHAT I BOUGHT LAST 4 Shires ’ Jeremy Le Sueur says VinaCapital Vietnam Opportunity ’ s 19 per cent discount looks excessive P . 33