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SF CL Invesco Perpetual High Income Fund

Scottish Friendly have taken the decision to close the unit-linked SF CL Invesco Perpetual High Income Fund. The fund will close on 01 August 2022.

Reasons for closure

Scottish Friendly has assessed that the SF CL Invesco Perpetual High Income Fund has underperformed over the long-term in comparison to its benchmark (FTSE All Share Index Net Total Return) and to similar funds in the market. As a result, the decision has been taken to close the fund.

What happens on closure

You do not have to do anything. Scottish Friendly have identified a suitable alternative to the SF CL Invesco Perpetual High Income Fund. Prior to the fund closure on 01 August 2022, any investment that policyholders have in the SF CL Invesco Perpetual High Income Fund will be switched to the SF CL UK Equity Income Fund on 27 July 2022. Further details on the SF CL UK Equity Income Fund can be found here. Scottish Friendly require to carry out the switch ahead of the fund closure to ensure the units can be redeemed in good time.

Should you wish to switch to another fund, you can do so in writing by completing a fund switch form. The form must be with us in time to process the switch no later than 25 July 2022.

Next steps

All impacted policyholders will receive a letter information them of the changes and the fund they are switching to. Further details can be found here.

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