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Following a fund review, we’ve decided to close the SL Fidelity American Life Fund (Fund code – LT).
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 the SL Fidelity American Life Fund (Fund code – LT) and we’ll be closing our fund from 3 October 2024.
We’ve chosen to replace it with the SL Ninety One American Franchise Life Fund (Fund code – 8D) as it’s the closest suitable alternative we have.
You can see details of the original, updated and replacement fund names, fund codes and descriptions at the bottom of this page.
What does this mean for my client if they’re invested in this fund?
- We’ve suspended transactions into this fund for single payments, transfers in and switches from other funds
- We’ll accept any contractually agreed regular payments into their fund until 19 September 2024
- Any regular contributions received on or after 19 September 2024 will be switched into the new fund
- All of the money they’ve invested in the SL Fidelity American Life Fund (Fund code LT) will be switched into the SL Ninety One American Franchise Life Fund (Fund code – 8D). We expect this switch to take place from 19 September 2024
- If it isn’t possible to redirect their contributions to the new fund, 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
Does my client need to do anything?
They don’t need to do anything as a result of these changes.
If they’d prefer to choose a different investment option, they can do this online or by contacting us before 6 September 2024.
Further details of these funds and alternative funds can be found at standardlife.co.uk/funds.
If we don’t hear from your client, we'll go ahead with the switch. Once the switch has taken place, we'll let your client know. Of course, they can always change their investments at a later date.
If you need more information, please speak to your Standard Life Account Manager.
| Current fund name | New fund name |
| SL Fidelity American Life Fund (Fund code – LT) | SL Ninety One American Franchise Life Fund (Fund code – 8D) |
| Current fund description | New fund description |
|
The SL Fidelity American Life Fund invests primarily in the Fidelity American Fund. The aim of the Fidelity American Fund is summarised below. The fund aims to increase the value of your investment over a period of 5 years or more. The fund will invest at least 70% in US companies. The companies will be either listed, incorporated, domiciled, or have significant business activities in the region and the fund aims to hold a concentrated portfolio of 30-40 securities. The remainder will be invested in companies outside the US and in other investment types such as cash and derivatives. Derivatives are investments whose value is linked to another investment, or to the performance of a stock exchange or to some other variable factor, such as interest rates and used to reduce risk or transaction costs and/or to generate extra income or further increase the value of your investment. The fund is actively managed. The Investment Manager identifies suitable opportunities for the fund utilising in-house research and investment capabilities. The Investment Manager will, when selecting investments for the fund and for the purposes of monitoring risk, consider the S&P 500 Index. The Investment Manager has a wide degree of freedom relative to the index and may take larger, or smaller, positions in companies, and/or may invest outside the index, to take advantage of investment opportunities. This means the fund’s investments and therefore performance may vary significantly from the index. Income earned by the fund is paid into the fund and reflected by an increase in the value of each share. Shares can usually be bought and sold each business day of the fund. The return you will receive depends on the performance of the underlying assets. 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 Ninety One American Franchise Life Fund invests primarily in the Ninety One American Franchise Fund. The aim of the Ninety One American Franchise Fund is summarised below. The Fund aims to provide capital growth (to grow the value of your investment) over at least 5 years. The Fund invests primarily (at least two-thirds) in the shares of USA companies (those incorporated in, domiciled in, or that have significant economic exposure to, the USA) and in related derivatives (financial contracts whose value is linked to the price of the shares of such USA companies). The value of any investment can fall as well as rise and is not guaranteed – you may get back less than you pay in. |
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