Standard Life shuts investment trust ISA in ATS deal

Standard Life is closing its Savings Investment Trust ISA and Savings Scheme, and transferring customers to Alliance Trust Savings (ATS).

The move will affect 1,371 customers, and follows a review of the product, Standard Life said. It will not impact the 115,000 customers accessing ISAs via Standard Life's wrap and Fundzone platforms. Standard Life customers have been contacted to advise them of the change, and offered the option of switching to ATS, or making their own arrangements to move to another provider. The transfer will take place at the end of May at which point ATS will take on full responsibility for the book and be the ISA and Saving Scheme Plan Manager. Standard Life said customers transferring to A...