Standard Life

Standard Life has today announced a £7.5bn reduction in the equity holdings of its £31bn with-profits fund as a result of newly-imposed financial reporting requirements.

IFAs may no longer be able to compare the financial performance of companies against previous years and other firms thanks to FSA realistic reporting changes, suggests Standard Life in a report of its 2003 annual results.

Standard Life customers will in future have to pay a cost for policies with guarantees to reflect the increased reserves the company must set aside, according to statements in the 2003 annual results published today.