Standard Life slammed for property unit cost cuts

The funds which have been affected by the move taken on 5 July are; FM - Property One Fund HX - Pension Managed Property Fund NR - Individual Property One (1.5% AMC) FS - Property Fund YR - Property Investment Life Fund (1.5% AMC) Standard Life says it made the decision to move these funds to a minimum valuation basis in the interests of treating customers fairly and to protect existing customers. "When a fund is contracting, cashflow from the fund to customers requires that assets are sold and units are generally priced on a minimum valuation basis which takes account...