Standard Life Sterling Fund

Daytona

wonderman wrote: »

Why is everyone on here so happy?

Because they are relieved at the high price the units are valued at ?

I'm still waiting a reply to my letter (see earlier link) which will reveal how they have been valuing the mortgage backed securities.

Old_Slaphead

wonderman wrote: »

Your choice to hold shares in a company of numpties.

No brainer - I was given them for 'free' by the numpties.

Merrill_Lynch

Don't shout or laugh at me....BUT....

I received a letter from SL mid Jan suggesting I take advice on this matter. Assuming they sent the letter to me I must have funds in this fund ?? ( by now you will be getting the picture that I haven't a clue what's going on...you're right !! ). OK...so I put it to one side and decided today I would start investigating and low and behold I came across this topic on the forum....extremely helpful.
Assuming that I do have an interest in this Fund and assuming that because I did nowt about it....am I OK ???
In case you are wondering why I did nothing...I have spent several weeks trying to get my head around huge losses incurred elsewhere and the fact that I may have to go back to work. Such fun.
I and my partner are due to "take " our SL pensions in just under 4 years...do you think the general situation will have recovered to anything like normal by then ?
We do have two IFA's but find it hard to get any decent answers at the moment.
Well it depends....
Maybe...
Very difficult to say at the moment...
Keep your heads down and don't worry....
PS my user name should provide you with a hint of where some of my losses lie....Happy Days !!
Regards to all

wonderman

geewhiz wrote: »

Maybe because Standard Life have done the right thing and what everyone on here was asking them to do.

As for the numpties comment, that's just pathetic, this problem was probably caused by one person and has nothing to do with 99.9% of the staff.

Some people have been a bit more reasonable in their response to this story, telegraph for example.

You're right I had misunderstood - I thought that they had simply re-valued the units again - but I can see that they have injected £100m of SL funds into the fund - I agree it was the right thing to do - and investors now have the choice to move the managed cash fund knowing the level of risk with the sterling fund.

shaunrc

Hi Guys

Just as a general note they have put the money back into my pension fund so Merrill Lynch you should be ok. It is worth checking though.Has everybody made sure it is there?

As a second point it looks as though you get credited if you have moved to the managed cash fund as this is what I did.

As to other help for Merill Lynch before anyone can offer any thoughts we would need to know more about your circumstances and position.

adamsbottom

I for one have written and asked for compensation equivalent to a unit price of 138p.
Look at the growth curve and that is what the price should be with a steady return from a 'cash' based fund!

shaunrc

Hi

I think that adamsbottom has made a useful point. Also checking Standard Life's website I notice that the Sterling pension fund has had a small drop at the latest daily valuation. Those who are still in this fund might like to follow this as drip drip drip might lead to a total similar to what they were trying in one go.

I left and went to their managed cash fund as I was concerned about this....

westy69

i have the standard life sterling life 2 fund, is this the same please?

bob_a_builder

Just as a general note they have put the money back into my pension fund so Merrill Lynch you should be ok. It is worth checking though.Has everybody made sure it is there?

I'd have thought we would have got some written confirmation of the actual refund taking place, amount and where they've put it

bob_a_builder

anyone had anything ?