Scottish Widows has decided to delay the conversion of its various unit ranges into an Oeic structur...
Scottish Widows has decided to delay the conversion of its various unit ranges into an Oeic structure until next year, due in part to the current market conditions. The group believes it would not be in the best interests of its investors to proceed at this time.
There is as yet no fixed date for when the rationalisation will go ahead but as soon as one is resolved, Scottish Widows intends to communicate its plans to advisers.
The rationalisation and conversion of the ranges involves some 70 unit trusts, from ranges from Abbey Life, Hill Samuel, Lloyds TSB and Scottish Widows.
Q2 net sales dropped almost 50%
‘Important to have an anchor’
Lack of innovation for solutions
Some 2,000 consumers affected