Standard Life Mutual Funds proposes changes to its mutual funds line-up

MONTREAL, April 4 /CNW Telbec/ - Standard Life Mutual Funds Ltd. proposes to change the investment objectives of five of its funds: Standard Life Global Monthly Income Fund, Standard Life Canadian Dividend Growth Fund, Standard Life Canadian Dividend Growth Class, Standard Life Dividend Income Fund and Standard Life Canadian Small Cap Fund.

The goal of these changes is to provide more flexibility in the daily management of the funds in order to enhance value for securityholders.

Funds Proposed changes
Standard Life Global Monthly Income Fund
  • Reword the fund's investment objective to focus on long-term capital growth as well as generating income.
  • Change the name of the fund to Standard Life Tactical Income Fund.
Standard Life Canadian Dividend Growth Fund
  • Clarify the fund's investment objective to allow for more flexibility with regard to investing in non-Canadian securities.
Standard Life Canadian Dividend Growth Class    The fund currently invests up to 100% of its assets in Standard Life Canadian Dividend Growth Fund.
  • Change the fund's investment objective for the same reason as the change proposed for Standard Life Canadian Dividend Growth Fund.
Standard Life Dividend Income Fund
  • Broaden the fund's investment objective to allow for more flexibility with regard to investing in fixed-income securities.
Standard Life Canadian Small Cap Fund
  • Change the fund's investment objective to delete the fixed market capitalization limits in order to provide the portfolio manager with more flexibility when investing in small capitalization companies.

Standard Life Mutual Funds Ltd. will seek the approval of securityholders of record on April 29, 2011 for the proposed investment objective changes at special meetings to be held around June 10, 2011. Securityholders will receive a management information circular with full details of the proposals around May 20, 2011, as required by securities regulations. If approved, the new investment objectives and the name change will be effective around June 15, 2011.

About Standard Life
Standard Life plc is a leading long-term savings and investment company headquartered in Edinburgh, Scotland. Standard Life has around 6 million customers worldwide and operates in the United Kingdom, Europe, North America and Asia Pacific, and globally with Standard Life Investments.

In Canada, Standard Life has been doing business for 178 years. Standard Life Financial Inc., which wholly owns The Standard Life Assurance Company of Canada and Standard Life Mutual Funds Ltd., is Standard Life plc's largest operation outside the UK. With about 2,000 employees, it provides long-term saving, investment and insurance solutions to more than 1.4 million Canadians, including group insurance and retirement plan members.

As of December 31, 2010, Standard Life plc had $306 billion in assets under administration, including $39 billion in Canada through Standard Life Financial.

SOURCE STANDARD LIFE

For further information:

Valérie Lamarre
Senior Advisor, External Communications and Public Affairs
Standard Life
514-499-7999, ext. 8150 or 1-877-499-9555, ext. 8150
valerie.lamarre@standardlife.ca

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