Mobius has published a new report in partnership with The Platforms Association to explore why the adoption of unit-linked structures by the SIPP sector is limited and what platforms stand to gain from a more informed view of the options available to them.

The SIPP market is expanding, and with it comes a growing expectation that platforms will offer investment solutions that are efficient, flexible and well suited to retirement outcomes.

Much of the market currently relies on UCITS funds and Managed Portfolio Services. These structures are well established and serve a wide range of needs. But as client expectations develop and the focus on retirement outcomes sharpens, it is worth asking whether they represent the full picture.

Unit-linked structures are widely used by institutional pension schemes and master trusts, yet adoption within the SIPP sector remains limited. We explore why that gap exists and how platforms would benefit from a more holistic view of the market.

We examine how unit-linked structures compare with more familiar retail fund vehicles across three areas that directly affect investor outcomes: withholding tax treatment, cost structure and investment flexibility. We also address the practical and regulatory questions that have historically slowed adoption and include a case study showing how one platform implemented a unit-linked approach within its SIPP proposition.

Our conclusion is not that one structure should replace another, but that a more deliberate approach to investment vehicle design can support better outcomes for clients and more resilient propositions for platforms over time.

Download the report >