We’re closing the Scottish Equitable Aberdeen Multi-Manager Diversified Alpha Portfolio07 September 2015 Back to results
On 20 January 2016, the Scottish Equitable Aberdeen Multi-Manager Diversified Alpha Portfolio will close and all investors will be moved into the Cautious Select Portfolio, unless they tell us to move their investment elsewhere before the closure date.
Why are we closing the fund?
As part of our Funds Promise, we monitor the funds we offer, to check whether they’re meeting their objectives and being run in the best interests of investors.
The Scottish Equitable Aberdeen Multi-Manager Diversified Alpha Portfolio aims to generate capital growth by investing mainly in equities or fixed interest securities in any geographical area or sector.
After reviewing the performance of the fund we’re no longer confident that it will be able to deliver outperformance over the long term. As a result, we’ve made the decision to close the fund.
How does this affect investors?
New investors will not be able to invest in the Scottish Equitable Aberdeen Multi-Manager Diversified Alpha Portfolio and no new contributions from existing investors can be made into the fund.
For existing investors, we’ll automatically transfer their investment in the Scottish Equitable Aberdeen Multi-Manager Diversified Alpha Portfolio, and any future contributions, into the Cautious Select Portfolio on 20th January 2016, free of any switch charge.
We’ve written to investors to give them notice of this change, and to offer them the option to switch to another fund if they want to.