Pensioner wins payout over Standard Life sterling fund

John Petrie, a retired businessman, has been awarded compensation, lost interest and court fees after the so-called ‘cash fund' investment fell in value, according to the Daily Mail. Early this year, the Pension Sterling fund, which was partially invested in risky mortgage-backed assets, saw its value suddenly fall by 5%. Standard Life had agreed to pay our compensation to those affected, costing the firm around £100m, but it did not compensate investors who had been affected by an earlier reduction in the funds value. In November 2008, the fund fell by 0.5%, which was enough to pr...