NEWS

Changes: Standard Life Managed Cash Pension Fund

What is happening and why?

Standard Life has recently reviewed all their money market and deposit-type funds in light of new guidelines which the Association of British Insurers (ABI) is introducing for these types of funds.

 

As a result of this review, Standard Life is making the following changes to the Standard Life Managed Cash Pension Fund:

  • To reflect the new ABI guidelines, the fund’s description will be changing to make it clear that its primary aim is to maintain the fund’s capital value and provide returns in line with overnight interest rates from bank and buildings society deposit accounts and short-term money market investments (before charges)
  • The new fund description will come into effect by 1 October 2012 – see below
  • The fund’s name will be changing to Standard Life Deposit and Treasury Pension Fund on 28 September 2012 to reflect that it is in the ABI Deposit and Treasury sector

 

These changes will appear in the Q3 2012 fund factsheet in October 2012. We will update the link to the factsheet as soon as it’s available.

 

What do I need to do?

You don't need to do anything as Standard Life is not making any changes to how the fund is managed or its charges.

 

New fund descriptions

 

Current name and description
New name and description
Standard Life Managed Cash Pension Fund Standard Life Deposit and Treasury Pension Fund
The fund aims to provide a return before charges equivalent to overnight deposits by investing in deposits and short term money market increments. The fund price is not guaranteed by Standard Life and there could be circumstances where the fund price may fall. A fall might happen if, for example, there is a default by one of the banks where some of the money is held or where there is an adverse market movement in the value of some of the money market instruments held. A fall may also happen if interest income falls so low as to be less than the charges applied to the fund. The primary aim of the fund is to maintain capital and provide returns before charges in line with short term money market rates by investing in deposits and short term money market instruments. The fund price is not guaranteed by Standard Life and there could be circumstances where the fund price may fall. A fall might happen if, for example, there is a default by one of the banks where some of the money is held or where there is an adverse market movement in the value of some of the money market instruments held. A fall may also happen if fund income falls so low as to be less than the charges applied to the fund.