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What's happening?
Following a fund review, we’ve decided to close the following funds:
- SL abrdn Global Equity Pension Fund (Fund code – DDNL)
- SL abrdn Global Equity Life Fund (Fund code – LLGF)
Standard Life perform these reviews on a regular basis so that we can ensure our fund range only contains funds which we believe are the most appropriate investments for our customers.
As a result, we’ve placed a suspension on both funds, and we’ll be closing them from 28 March 2024.
You can see details of the original, updated and replacement fund names, fund codes and Total Annual Fund Charges and descriptions at the bottom of this page.
What does this mean for my clients?
- We’ve suspended transactions into these funds for single payments, transfers in and switches from other funds
- We’ll accept any contractually agreed regular payments into their fund(s) until 14 March 2024
- Any regular contributions received on or after 14 March 2024 will be switched into the new fund and all future contributions will be redirected into this fund
- If it isn’t possible to redirect their contributions to the new fund(s), we’ll invest any payments proportionally across their other existing funds
- Any contributions invested across their other funds will remain invested there and won’t be affected
Please speak to your Standard Life Account Manager for more information.
| Current fund name | New fund name |
|---|---|
|
SL abrdn Global Equity Pension Fund |
SL BNY Mellon Global Equity Pension Fund |
| Current fund description | New fund description |
|
The SL abrdn Global Equity Pension Fund invests primarily in the abrdn Global Equity Fund. The aim of the abrdn Global Equity Fund is summarised below. To generate growth over the long term (5 years or more) by investing in equities (company shares) worldwide. Performance Target: To achieve the return of the MSCI AC World Index plus 3% per annum over rolling three years periods (before charges). The Performance Target is the level of performance that the management team hopes to achieve for the fund. There is however no certainty or promise that they will achieve the Performance Target. The ACD believes this is an appropriate target for the fund based on the investment policy of the fund and the constituents of the index. The value of any investment can fall as well as rise and is not guaranteed – you may get back less than you pay in. |
The SL BNY Mellon Global Equity Pension Fund invests primarily in the BNY Mellon Global Equity Fund. The aim of the BNY Mellon Global Equity Fund is summarised below. The Fund aims to achieve capital growth over the long term (5 years or more). The value of any investment can fall as well as rise and is not guaranteed – you may get back less than you pay in. |
| Current TAFC | New TAFC |
| 1.72% | 1.42% |
| Current fund name | New fund name |
|---|---|
| SL abrdn Global Equity Life Fund S1 (fund code – LLGF) |
SL Invesco Global Equity Life Fund (fund code – L1) |
| Current fund description | New fund description |
|
The SL abrdn Global Equity Life Fund invests primarily in the abrdn Global Equity Fund. The aim of the abrdn Global Equity Fund is summarised below. To generate growth over the long term (5 years or more) by investing in equities (company shares) worldwide. Performance Target: To achieve the return of the MSCI AC World Index plus 3% per annum over rolling three years periods (before charges). The Performance Target is the level of performance that the management team hopes to achieve for the fund. There is however no certainty or promise that they will achieve the Performance Target. The ACD believes this is an appropriate target for the fund based on the investment policy of the fund and the constituents of the index. The value of any investment can fall as well as rise and is not guaranteed – you may get back less than you pay in. |
The SL Invesco Global Equity Life Fund invests primarily in the Invesco Global Equity (UK) Fund. The aim of the Invesco Global Equity (UK) Fund is summarised below. The objective of the Fund is to achieve long-term (5 years plus) capital growth. The Fund invests at least 80% of its assets in shares of companies globally. The Fund may use derivatives (complex instruments) to manage the Fund more efficiently, with the aim of reducing risk, reducing costs and / or generating additional capital or income. The Fund is not constrained by a benchmark and has a flexible approach with no inbuilt bias to country, sector or company size. The value of any investment can fall as well as rise and is not guaranteed – you may get back less than you pay in. |
| Current TAFC | New TAFC |
| 1.75% | 1.91% |
| Current fund name | New fund name |
|---|---|
| SL abrdn Global Equity Life Fund S2 (fund code – LLGF) |
SL Invesco Global Equity Life Fund (fund code – L1) |
| Current fund description | New fund description |
|
The SL abrdn Global Equity Life Fund invests primarily in the abrdn Global Equity Fund. The aim of the abrdn Global Equity Fund is summarised below. To generate growth over the long term (5 years or more) by investing in equities (company shares) worldwide. Performance Target: To achieve the return of the MSCI AC World Index plus 3% per annum over rolling three years periods (before charges). The Performance Target is the level of performance that the management team hopes to achieve for the fund. There is however no certainty or promise that they will achieve the Performance Target. The ACD believes this is an appropriate target for the fund based on the investment policy of the fund and the constituents of the index. The value of any investment can fall as well as rise and is not guaranteed – you may get back less than you pay in. |
The SL Invesco Global Equity Life Fund invests primarily in the Invesco Global Equity (UK) Fund. The aim of the Invesco Global Equity (UK) Fund is summarised below. The objective of the Fund is to achieve long-term (5 years plus) capital growth. The Fund invests at least 80% of its assets in shares of companies globally. The Fund may use derivatives (complex instruments) to manage the Fund more efficiently, with the aim of reducing risk, reducing costs and / or generating additional capital or income. The Fund is not constrained by a benchmark and has a flexible approach with no inbuilt bias to country, sector or company size. The value of any investment can fall as well as rise and is not guaranteed – you may get back less than you pay in. |
| Current TAFC | New TAFC |
| 2.25% | 2.40% |
The charges above do not take into account any discounts you may receive.