abrdn are simplifying their fund range and the abrdn Dynamic Multi Asset Growth fund has been selected for closure.
As a result, we’re closing our fund which invests in the underlying abrdn fund and switching your members’ pension investments to the SL BNY Mellon Multi-Asset Diversified Return Pension Fund (fund code – 73).
These changes will take effect from 20 April 2023.
Why did you choose the SL BNY Mellon Multi-Asset Diversified Return Pension Fund?
We’ve chosen this fund because we believe it’s a suitable alternative. For more information, please read the factsheet www.standardlife.co.uk/factsheet-73
You can see the current and new fund descriptions and Total Annual Fund Charges (TAFC) below.
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 this fund until 20 April 2023
- Any regular contributions received on or after 20 April 2023 will be switched into the SL BNY Mellon Multi-Asset Diversified Return Pension Fund, and all future contributions will be redirected into this fund
- If it isn’t possible to redirect contributions to SL BNY Mellon Multi-Asset Diversified Return Pension Fund, we’ll invest any payments proportionally across their other existing funds
- Any contributions invested across their other funds will remain invested there and will not be affected
Does my client need to do anything?
They don’t need to do anything if they’re happy with the switch. If they don’t think this switch is right for them and wish to choose another alternative fund, they can contact us online or by phone before 7 April 2023.
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 abrdn Dynamic Multi Asset Growth Pension Fund||SL BNY Mellon Multi-Asset Diversified Return Pension Fund|
|Current fund description||New fund description|
|The fund is invested in the abrdn Dynamic Multi Asset Growth Fund which aims to provide a long term total return through capital appreciation and income. It invests in a diversified portfolio of assets including equities, bonds, cash deposits and money-market instruments directly, via collective investment schemes and via derivatives.
The fund is actively managed by our investment team and holds a portfolio of assets from both the UK and overseas, selected without reference to index weight or size, combined with strategies based on advanced derivative techniques designed to enhance portfolio diversification and thus lower volatility. The fund can take long and short positions in markets, securities and groups of securities through derivative contracts.
The value of investments within the fund can fall as well as rise and is not guaranteed - you may get back less than you pay in. The fund may use derivatives for the purposes of efficient portfolio management, reduction of risk or to meet its investment objective if this is permitted and appropriate. The sterling value of overseas assets held in the fund may rise and fall as a result of exchange rate fluctuations.
|The SL BNY Mellon Multi-Asset Diversified Return Pension Fund invests primarily in the BNY Mellon Multi-Asset Diversified Return Fund. The aim of the BNY Mellon Multi-Asset Diversified Return Fund is summarised below.
To achieve long-term capital growth over a period of at least 5 years from a portfolio diversified across a range of assets. The Fund is managed to seek a return in excess of cash (SONIA 30 (day compounded)) +3% per annum over five years before fees. In doing so, it aims to achieve a positive return on a rolling three year basis (meaning a period of three years, no matter which day you start on). However, a positive return is not guaranteed and a capital loss may occur.
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|
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