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SLI Global Equity Income Fund gets green light


Shareholders in Standard Life Investments’ Managed Fund OEIC have voted overwhelmingly in favour of plans to convert the Managed Fund into a Global Equity Income Fund. Over 90% of votes cast at an EGM were in favour of the proposed changes to the Fund which will take effect from 16 January 2012.

Manager of the Fund, Kevin Troup will invest in a diversified portfolio of higher-yielding global equities pulling on the best global equity income ideas generated by over sixty equity analysts and managers from Standard Life Investments. The objective of the Fund will refocus from capital growth to income with the potential for capital appreciation over the long term. The Fund, which will assume a target position of 70 -80 stocks, will be benchmarked against the IMA Global Equity Income Sector*.

Ben Morris, Global Equity product specialist at Standard Life Investments says: “The conversion of this Fund reflects the notable and growing requirement for investors to receive income from their equity investments, especially in the current low growth environment. Importantly, the positive support investors have given to our proposals shows that they have fully taken on board the exciting investment opportunities the Global Equity Income Fund has the potential to offer. Our Global Equity team has built a strong and consistent track record and are able to make full use of the analytical resource across all of Standard Life Investments’ regional equity teams, including through our joint venture with Chuo Mitsui in Japan. It was hugely encouraging to receive such strong support from investors who voted in favour of the resolutions to convert the Fund.”

Kevin Troup, manager of the new Global Equity Income Fund, says: “I am hugely excited to be launching this new product which meets a growing investor need. We are continuously identifying and evaluating equity income ideas from many different regions and countries, including the UK, which can give investors exposure to a wider opportunity set.”

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