SIPP's and tracker funds

[Halitosis]

Benchmark performance shown in our tables and charts is for comparison purposes only and is based on Total Returns, which
assumes the reinvestment of any income. The benchmark will not include any costs and charges that apply to the Fund, which could be
a reason why the performance of the Fund may not exactly match the performance of the benchmark.

Benchmark constituents:
- From 01/11/2023: 44% MSCI World Index, 44% MSCI World Index GBP Hedged, 12% MSCI Emerging Markets
- From 16/03/2018 to 31/10/2023: MSCI All Country World Index
- Prior to 16/03/2018: 30% FTSE All-Share Index & 70% FTSE AW - All World (ex UK) Index (75% hedged)

Yes clearly the fund provider has changed its own benchmark a couple of times over the years so its difficult to directly compare. The new benchmark appears to be a pro-rated average of three global indexes so performance from this year should be closer to the benchmark (i.e. the benchmark being more appropriate, not that your fund will suddenly perform better!).

To be fair, I think your fund of funds is just what I would take if it were available to me: it includes emerging markets such as India etc., which overcomes the lack of exposure a straightforward MSCI World tracker carries as explained so clearly by Montello. The US has had an incredible period of growth, but the better question is where the next growth will occur.