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Standard mails members to show how mutuality outperforms plcs

Standard Life is firing the opening salvo in defence of its mutuality this

week by writing to its 2.3 million members outlining how the mutual has

outperformed its plc rivals.

The mailing will claim the possibility of “one-off windfalls of uncertain

value in two years do not justify demutualisation.

The document will highlight how payouts from Standard&#39s life and pension

policies have consistently outperformed average plc returns by 9 per cent

over the last 15 years.

The first document will be followed by a second in a matters of weeks,

which will include voting forms for the special general meeting set for

June 27 when the company&#39s future direction will be decided.

The second mailing will also include a letter from chief carpetbagger Fred

Woollard explaining why he wants Standard Life to demutualise and convert.

Standard Life group managing director Scott Bell says: “We are providing

our members with the real facts to support the continuing mutuality of

Standard Life.

“The board believes that we have a compelling case, an outstanding track

record of success and the drive and ambition to continue to succeed for our

members and those who will become members.”

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