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Standard Life quits tracker market and passes funds to Vanguard

Standard Life has quit the tracker market and is passing on the management of 15 funds to Vanguard Asset Management.

The move will see £1.3bn of funds passed to Vanguard. Standard Life says the move will allow it to focus on active fund management.

The fund names, charges and the risk profiles of the portfolios will remain unchanged. The transfer is set to conclude on June 29, 2012.

Standard Life has control of the fund but the investment management and day-to-day responsibilities pass to Vanguard.

Standard Life head of investment group relationships Graham Dow says: “Vanguard is recognised as one of the leading providers of index funds. They have a global presence, a wealth of investment expertise and their overall scope and scale makes it possible to look at longer term opportunities for strategic partnerships.

“We were impressed by them throughout the selection process and they are the right choice to take over the management of the Standard Life tracker funds.”

Funds affected by this change
–      Standard Life hedged overseas equity tracker pension fund
–        Standard Life FTSE® tracker pension fund
–        Standard Life Japanese equity tracker pension fund
–        Standard Life US equity tracker pension fund
–        Standard Life Pacific Basin equity tracker pension fund
–        Standard Life UK gilt tracker pension fund
–        Standard Life overseas tracker pension fund
–        Standard Life global equity 50:50 tracker pension fund
–        Standard Life European equity tracker pension fund
–        Standard Life 2010 European equity tracker pension fund
–        Standard Life 2010 US equity tracker pension fund
–        Standard Life 2010 FTSE® tracker pension fund
–        Standard Life 2010 UK gilt tracker pension fund
–        Standard Life 2010 overseas tracker pension fund
–        Standard Life 2010 global equity 50:50 tracker pension fund

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