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What's changed?
Following a fund review we have decided to close the SL VT Argonaut European Alpha Pension Fund as it is no longer viewed as delivering good customer outcomes.
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 to help our customers save for a lifetime of possibilities.
As a result, we’ve placed a suspension on the SL VT Argonaut European Alpha Pension Fund (Fund code – 2P) and we’ll be closing our fund from 27 July 2023.
We’ve chosen to replace it with The SL Fidelity European Pension Fund (Fund Code – 2B) as it’s the closest suitable alternative we have. For more information on this fund please read the factsheet.
You can see details of the original, updated and replacement fund names, fund codes, Total Annual Fund Charges and descriptions on page 3.
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 your fund until 27 July 2023
- Any regular contributions received on or after 27 July 2023 will be switched into The SL Fidelity European Pension Fund (Fund Code – 2B) and all future contributions will be redirected into this fund
- If it isn’t possible to redirect your contributions to The SL Fidelity European Pension Fund (Fund Code – 2B), we’ll invest any payments proportionally across your other existing funds
- Any contributions invested across your 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.
However, if they’re paying regular contributions and would prefer us to direct these into a different fund, they can do this online or by contacting us by 14 July 2023.
Read further details of these funds and alternative 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 details |
New fund details |
---|---|
Fund Name (Fund code) |
Fund Name (Fund code) |
SL VT Argonaut European Alpha Pension Fund (Fund code – 2P). |
SL Fidelity European Pension Fund (Fund code – 2B). |
Total Annual Fund Charge | Total Annual Fund Charge |
1.93% | 1.91% |
Fund Description |
New Fund Description |
The SL VT Argonaut European Alpha Pension Fund invests primarily in the VT Argonaut European Alpha Fund. The aim of the VT Argonaut European Alpha Fund is summarised below. To achieve above average returns and attempt to perform a top quartile profile when measured against competing funds in the same sector. 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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The SL Fidelity European Pension Fund invests primarily in the Fidelity European Fund. The aim of the Fidelity European Fund is summarised below. The fund aims to increase the value of your investment over a period of 5 years or more and pay you a growing income. The fund will invest at least 80% in continental European companies. The companies will be either listed, incorporated, domiciled, or have significant business activities in the region. 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 information on this site is for qualified financial advisers and must not be relied on by anyone else. If you are not an adviser please go to our customer website for more information about our products and services.