Closing the SLFC Aggressive and Cautious Managed funds
Following a detailed review of the funds we offer you, we decided to close the SLFC Aggressive Managed fund and the SLFC Cautious Managed fund.
As funds get smaller, the impact of fixed costs increases and it becomes more challenging to maintain the correct balance of assets without frequently buying and selling assets, which over time can impact fund performance. For these reasons, we believe your needs are best served by moving your money into larger funds.
We wrote to everyone with investments in these funds in April 2018 and closed the funds on 3 August 2018.
If you had money in these funds and did not make a different choice, we switched the money on 3 August as follows:
Any money in the Aggressive Managed Fund was switched to:
70% in the Balanced Managed Fund and 30% in the International Fund
Any money in the Cautious Managed Fund was switched to:
60% in the Balanced Managed Fund and 40% in the UK Fixed Interest Fund.
We chose these funds to give you the potential for a similar level of investment performance at a slightly lower cost to you.
You should continue to review your investment choices regularly to make sure they are still on track to meet your needs. You can ask for future premiums to be invested into another fund. You can switch some or all of your money to a different fund at any time.