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We’re making changes to the following SL abrdn Global Absolute Return Strategies Funds:
- SL abrdn Global Absolute Return Strategies Pension Fund (fund code - YX)
- SL abrdn Global Absolute Return Strategies Life Fund (fund code – YY)
What’s happening?
We regularly review our investment options to make sure they’re meeting our customers’ expectations and are delivering good outcomes.
As over the long-term the abrdn Global Absolute Return Strategies Fund hasn’t been performing as we expect and because of changes in the team managing the Fund, we’re closing our links to it and replacing it with the BNY Mellon Real Return Fund. This investment option has a similar investment approach and risk profile.
This means customers will see a change in the name from the SL abrdn Global Absolute Return Strategies Pension Fund to the SL BNY Mellon Real Return B Pension Fund and from the SL abrdn Global Absolute Return Strategies Life Fund S1 and S2 to the SL BNY Mellon Real Return Life Fund S1 and S2 respectively. They’ll also see a change in the fund descriptions.
The charge customers pay for the Fund will increase as a result of this change.
These changes will take effect from 09 November 2023.
You can see details of the original, updated and replacement fund names, fund codes, Total Annual Fund Charges and descriptions further down this page.
Does my client need to do anything?
If they’re invested in these funds, we’ll write to them about these changes. However, they don’t need to do anything, we’re just letting them know for their information.
Please speak to your Standard Life Account Manager for more information.
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Current fund name |
New fund name |
|---|---|
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Current fund description |
New fund description |
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The SL abrdn Global Absolute Return Strategies Pension Fund invests primarily in the abrdn Global Absolute Return Strategies Fund. The aim of the abrdn Global Absolute Return Strategies Fund is summarised below. To generate a positive absolute return over the medium to long term (3 to 5 years or more) irrespective of market conditions, whilst reducing the risk of losses. Invested capital is however at risk and there is no guarantee that the objective will be attained over any time period. Performance target: To exceed the return of SONIA plus 5% per annum, evaluated over rolling three-year 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 value of any investment can fall as well as rise and is not guaranteed – you may get back less than was paid in. |
The SL BNY Mellon Real Return B Pension Fund invests primarily in the BNY Mellon Real Return Fund. The aim of the BNY Mellon Real Return Fund is summarised below. To achieve a rate of return in sterling terms that is equal to or above a minimum return from cash (SONIA (30-day compounded)) + 4% 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, capital is in fact at risk and there is no guarantee that this will be achieved over that, or any, time period. The value of investments within the fund can fall as well as rise and is not guaranteed – you may get back less than was paid in. |
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Current TAFC (Total Annual Fund Charge) |
New TAFC (Total Annual Fund Charge) |
| 1.53% | 1.69% |
|
Current fund name |
New fund name |
|---|---|
|
Current fund description |
New fund description |
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The SL abrdn Global Absolute Return Strategies Life Fund invests primarily in the abrdn Global Absolute Return Strategies Fund. The aim of the abrdn Global Absolute Return Strategies Fund is summarised below. To generate a positive absolute return over the medium to long term (3 to 5 years or more) irrespective of market conditions, whilst reducing the risk of losses. Invested capital is however at risk and there is no guarantee that the objective will be attained over any time period. Performance target: To exceed the return of SONIA plus 5% per annum, evaluated over rolling three-year 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 value of any investment can fall as well as rise and is not guaranteed – you may get back less than was paid in. |
The SL BNY Mellon Real Return Life Fund invests primarily in the BNY Mellon Real Return Fund. The aim of the BNY Mellon Real Return Fund is summarised below. To achieve a rate of return in sterling terms that is equal to or above a minimum return from cash (SONIA (30-day compounded)) + 4% 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, capital is in fact at risk and there is no guarantee that this will be achieved over that, or any, time period. The value of investments within the fund can fall as well as rise and is not guaranteed – you may get back less than was paid in. |
|
Current TAFC (Total Annual Fund Charge) |
New TAFC (Total Annual Fund Charge) |
| 1.56% | 1.72% |
|
Current fund name |
New fund name |
|---|---|
|
Current fund description |
New fund description |
|
The SL abrdn Global Absolute Return Strategies Life Fund invests primarily in the abrdn Global Absolute Return Strategies Fund. The aim of the abrdn Global Absolute Return Strategies Fund is summarised below. To generate a positive absolute return over the medium to long term (3 to 5 years or more) irrespective of market conditions, whilst reducing the risk of losses. Invested capital is however at risk and there is no guarantee that the objective will be attained over any time period. Performance target: To exceed the return of SONIA plus 5% per annum, evaluated over rolling three-year 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 value of any investment can fall as well as rise and is not guaranteed – you may get back less than was paid in. |
The SL BNY Mellon Real Return Life Fund invests primarily in the BNY Mellon Real Return Fund. The aim of the BNY Mellon Real Return Fund is summarised below. To achieve a rate of return in sterling terms that is equal to or above a minimum return from cash (SONIA (30-day compounded)) + 4% 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, capital is in fact at risk and there is no guarantee that this will be achieved over that, or any, time period. The value of investments within the fund can fall as well as rise and is not guaranteed – you may get back less than was paid in. |
|
Current TAFC (Total Annual Fund Charge) |
New TAFC (Total Annual Fund Charge) |
| 2.06% | 2.22% |