Scottish Widows is writing to 6,000 policyholders notifying them that restrictions imposed on certain transactions out of its property funds are being lifted.
The 180-day delay period will end on 18 August allowing policyholders to again make full or partial redemptions, transfers or switches out of the £888m Scottish Widows Life fund and the £1,113m Scottish Widows Pension Property fund. Scottish Widows says the delay, which began on 21 January, has enabled the fund managers to obtain fair values for assets sold, protecting the performance of the funds for those policyholders wishing to remain invested. AXA, Close Investments and AEGON Scottish Equitable all also made similar restrictions at the beginning of the year, but none have yet set a...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
