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An association for the heritage "with-profits" investors of Standard Life Assurance Company

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Financial Times August 21 2004 Standard's illusion of success costs investors by Mike Hogan

What this article says: Retail investors, like you and I, chose to put our savings with Standard Life because we believed that management possessed superior investment skills. The record shows us to be wrong. Management has invested £716 million of our money in Standard Life Bank and Standard Life healthcare. As of 2003, it had returned losses of £169 million. The record at Standard Life Investments is so dubious that the company takes full advantage of reporting regulations to hide the true story.

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 The Telegraph October 31 2004 This business needs a thorough turnaround by Mike Hogan
What this article says: Standard Life often tells its members that they should blame the markets  for poor returns on life and pension policies. We now know that this is not true. Standard Life  decided that it should retain a high equity/property  weighting when  smarter competitors were bailing out. Yet while management has destroyed  86% of the free capital owned by our with profits fund, it's rewards have risen. There has been no connection between management pay and value for members.

See  the manuscript of the article  here:

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