Answer:
The ITC Occupational Retirement Scheme has 2 options: "A. Default Investment Strategy" and "B. Sponsors Choice". Each option is explained in more detail below:
"A. Default Investment Strategy" - Q Fund Management Limited (QFM):
QFM is a Malta licenced AIFM and IM licenced by the MFSA, they act as ITC's default IM for the ITC Occupational Retirement Scheme. This "Default" option:
Bespoke: Although there are set investments as mentioned in the Investment Principles of the scheme these can be changed as mentioned in point "iii". In these cases, the client's Investment Manager can submit an Investment Proposal to the Investment Team. This will include the recommendations for the client's investments and must be in-line with the scheme's investment rules.
The investment team will review the recommendations and revert (this process can take a few days). If approved the admin will then submit the orders to the relevant bond, platforms etc. It's important that any investment requests that are urgent should not be left till the last minute, as there is an element of analysis and checking that needs to be undertaken.
"B. Sponsors’ Choice"—Quilter Cheviot (QC):
When a broker chooses to use QC as the DFM, a QC application is filled in alongside the ITC application form. This would allow the client to select their risk tolerance when it comes to investments. Upon receipt of the transferred-in pension monies, ITC transfers the funds to QC at which time they will apply relevant investments in line with the client's selected risk.