Scottish Widows Life Property Fund
Since February 2009, we have been applying a delay period of up to 180 days for requests to switch out of, or to withdraw money from, the Scottish Widows Life Property Fund (the ‘Property Fund’).
From 14th December 2009, this restriction has been lifted. The fund now has sufficient cash to enable us to process all switches and surrenders that were delayed as well as new instructions we receive. The fund price will continue to reflect the value of the underlying assets. The purpose of the delay period was to protect long-term investors by avoiding rapid sales at below market prices, whilst raising cash in a reasonable period of time for those who wanted to leave the fund.
Although we hope it won't be necessary, if it does become necessary to reintroduce a delay period in the future in order to protect the long-term investors in the fund then we would do so.
If you’re unsure about the effect of the delay on your investment portfolio you may want to speak to a financial adviser. If you have any other questions, please write to us at:
PO Box 24180
69 Morrison Street
or call our helpline on: 0345 757 3788 (individual policyholders)
We’re available 8am–6pm Monday to Friday and your call may be monitored.