It is being said Standard Life are lucky they were unsuccessful in their attempt to take over the closed fund business of Resolution Life last year for many billions of pounds, which would no doubt look a bit sick on their balance sheet today.
Nevertheless, judging by the recent bonus payouts of some of the closed funds, the original Phoenix in particular, paying out a massive AGR of 19.8%, it could seem running closed fund business could be good business, so who is to say for sure, whether or not they were lucky or unlucky?