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The planned changes to the asset allocation model on Elevate will be effective from 1 July 2018. Any Architas funds currently mapped to an Elevate risk rating, will still be considered as mapped to that risk rating up to that date.
From 1 July, Elevate's risk optimised portfolios will be realigned from the version of the EValue model Architas uses, to EValue's standard model, as explained in our FAQ (PDF, 81KB)
As a result of the changes Elevate's risk scales and corresponding optimised asset allocations will vary from Architas from this point onwards. This variance creates the potential for funds that were previously mapped or managed to a specific risk rating (e.g. to a rating of 3 out of 10) to be mapped to a different risk rating in future (e.g. maps to a rating of 4 out of 10 instead). This is due to the nature of the Elevate model changing rather than the fund varying the amount of investment risk it takes.
Architas have prepared this mapping document to demonstrate how this may apply to their funds from 1 July 2018.
You'll need to consider these changes when next assessing your clients' attitude to risk using Elevate's Risk Profiling Tool. You should be mindful that the results it will generate after July use the same numerical scale and risk description. However, the optimised asset allocation and how closely it aligns to previous risk rated solutions may change, even though the investment ethos and risk management of those solutions has not altered. Your review will naturally take in a complex range of factors, of which attitude to risk is only one.
We aim to support your investment process by mapping aspects of Elevate's extensive fund based solutions, many of which are offered at discounted terms, to our new optimised asset allocations. We're currently in discussions with fund groups to agree the best approach to do so and we'll share more information in due course.
If you have further questions on the planned changes, please refer to our FAQ or speak to your usual Standard Life contact.