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Sterling Tracker Protected Profits Fund (Series 1) is closed to new investments

07 March 2017

The Series 2 version of the Sterling fund remains open as does the fund on Sterling ISA and Investment Account and Zurich Pensions.


The Series 1 version of the fund is priced to include an annual management charge of 1% which the other versions do not. In the current low interest rate environment the combination of the charges on this series of the fund, the current level of equity (risky basket) exposure within the fund and the nature of the protected profits algorithm means that whilst the fund has met its objectives to provide protection we think it's unlikely it will be able to meet its growth objectives in future. We're therefore closing this fund to new investments.

We've written to you with a list of your clients invested in the fund as you may wish to consider an alternative fund. Their investment will remain in the Sterling Tracker Protected Profits fund. We'll also write to your clients and you can download a copy of the letter here.

The alternative Sterling Multi-Manager Protected Profits Series 1 fund ranges are still available for new investments for your clients. They currently have a higher level of exposure to equities (risky basket) so have greater potential to achieve their growth objectives.

We have no immediate plans to make any other changes to our protected profits fund ranges.

We will however continue to monitor all of our investment funds to ensure we believe they have the potential to offer value for money to our investors and to deliver the investment return they set out to do, and where we think it necessary may close funds.