The SF CL Property Fund and SF CL UK Property Funds have suspended with effect from midday on 12 October 2023.

This follows Canada Life’s decision to suspend the LF CanLife UK Property fund, in which the unit-linked SF CL Property and SF CL UK Property funds invests. Therefore, no transactions will be processed on these funds including switches and withdrawals.  

Scottish Friendly will continue to collect premiums on your behalf. Where they are due to be invested in the SF CL Property or SF CL UK Property fund, they will instead be redirected to another fund.

Further information will be provided through the website, and Scottish Friendly will write out to all policyholders affected in due course.

The ‘Fidelity Global Property Fund’ has merged with the ‘Fidelity Global Enhanced Income Fund’ with effect on the 14th of June 2024.

Policyholders who hold the SF CL Fidelity Global Property funds will see their investment change from the Fidelity Global Property Fund to the Fidelity Global Enhanced Income Fund. 

Policyholders will receive communication regarding the impact to individual policies.

The investment objective and policy of the SF CL Threadneedle European Select and SF CL Threadneedle American Select funds have been updated to incorporate ESG exclusions, establish an ESG tilt, highlight engagement with companies and highlight that Columbia Threadneedle is a signatory to the Net Zero Managers Initiative.

Invesco have reduced the ongoing charge in their funds by 0.05%. This reduction applies to:

• SF CL Invesco Perpetual Managed Inc,

• SF CL Invesco Perpetual Income,

• SF CL Invesco Perpetual Corp Bond,

• SF CL Invesco Perpetual High Inc,

• SF CL Invesco Perpetual UK Opportunities.

The SF CL Global Equity Income fund closed on 25th October 2023 as it predominantly invested in the LF Canada Life Global Equity Income fund, which closed in October 2023.

All holdings in the SF CL Global Equity Income funds were switched to the SF CL Global Equity fund on 25th October 2023. All future premiums due to be invested in the SF CL Global Equity Income fund were redirected to the SF CL Global Equity fund.

All policyholders affected will receive written communication in due course.

The SF CL Global Infrastructure fund closed on 25th October 2023 as it predominantly invested in the LF Canada Life Global Infrastructure fund, which closed in October 2023.

All holdings in the SF CL Global Infrastructure funds were switched to the SF CL Global Equity fund on 25th October 2023. All future premiums due to be invested in the SF CL Global Infrastructure fund were redirected to the SF CL Global Equity fund.

All policyholders affected will receive written communication in due course.