The Morningstar Fund Feature allows members to see how their funds are performing against others in the same sector.
Employees will be provided with fund performance information for each fund with each provider which can be sorted by name, sector, MorningStar rating, manager tenure, year-to-date return or latest price. They will also have the option to switch funds.
The Morningstar Fund Feature is offered as an option within Thomsons’ Perquisite software as part of an employee’s online flexible benefits and total reward site and is not offered as a stand-alone product.
The launch comes as Thomsons Online Benefits announces that Cofunds, the UK’s largest independent investment platform, has restructured its flexible benefits scheme for its 400 employees with the firm.
The scheme was re-launched to employees using an integrated communications approach which included customised Cofunds branded benefit statements detailing employees before and after position in advance of the introduction of the new reward structure, a Cofunds branded member website with interactive modelling, posters to help create a positive environment and office buzz and a promotional launch communication which drew on an established internal brand and showed employees how to log in to the new website.
Michael Whitfield, chief executive officer at Thomsons Online Benefits says: “For the first time for many employees they will have access to information on a real-time basis, and not from a provider once a month.”