On 08/04/2026 we were informed by BNY Mellon Fund Managers Limited that the BNY Mellon Index Linked Gilt Fund Newton Institutional Shares 2 Fund would be closed. Customers will be moved into the PUTM Bothwell Index linked Sterling Hedged Fund on 09/06/2026. As a result, there will be a change to the fund customers currently hold.
Default Replacement Fund: PUTM Bothwell Index linked Sterling Hedged Fund
Closing Fund IMC: 0.31%
Default Replacement Fund IMC: 0.38%
The Fund aims to provide a total return (a combination of capital growth and income) by outperforming the benchmark by 0.25% to 0.75% per annum over any given 3 year period. The benchmark is the FTSE UK Index-Linked Gilts All Stocks Index. The Fund aims to achieve its objective by investing at least 80% of the portfolio in index linked securities (Indexed against the UK Retail Prices Index or a similar UK inflation Index) issued by approved supranational bodies and OECD governments. Non-Sterling exposure will be predominantly hedged back to Sterling.
Customers will be invested in the new fund from 09/06/2026, but these changes may not be visible until up to two weeks following this date.
Default Replacement Fund: OMR Artemis Global Income Fund
Closing Fund TER: 1.28%
Default Replacement Fund TER: 1.20%
Objective of Default Replacement Fund:
The fund aims to grow both income and capital over a five year period. The Fund invests 80-100% in company shares and up to 20% in bonds, cash and near cash, other transferable securities, other funds (up to 10%) managed by Artemis and third party funds, money market instruments, and derivatives. The fund may use derivatives for efficient portfolio management purposes to reduce risk and manage the fund efficiently.
This fund invests in the underlying retail fund in order to track its performance, this means that fund performance may differ to the underlying fund. Customers will be invested in the new fund from 22/06/2026, but these changes may not be visible until up to 2 weeks following this date.
On 09/03/2026 we were informed by Quilter Investors Limited that the OMR Quilter Investors UK Equity Fund will be closed. Customers will be moved into the OMR Artemis SmartGARP UK Equity Fund on 22/04/2026. As a result, there will be a change to the fund customers currently hold.
Default replacement fund: OMR Artemis SmartGARP UK Equity Fund
Closing Fund TER: 0.92%
Default Replacement Fund TER: 1.19%
Objective of Replacement Fund: The fund aims to grow capital over a five year period. The fund invests 80% to 100% in company shares and up to 20% in bonds, cash, and near cash, other transferable securities, other funds (up to 10%) managed by Artemis and third party funds, money market instruments, and derivatives. The fund invests at least 80% in the United Kingdom and up to 20% in other countries.
Customers will be invested in the new fund from 22/04/2026, but these changes may not be visible until up to two weeks following this date. This fund invests in the underlying retail fund in order to track its performance, this means that fund performance may differ to the underlying fund.
We are expecting to receive the ninth and final payment from M&G which we will be passing on to customers shortly after. Those customers invested in the impacted funds will have their payments added to their plans in the following replacement funds:
We will be issuing a letter to customers shortly after the units have been added to plans.
We’re updating customers on a change to some of the replacement funds previously communicated in relation to the Aviva Investors UK Property Feeder payments. We will not use the Deposit fund or abrdn Real Estate fund previously communicated for the OMR funds.
The replacement funds will be as follows:
• OMR Aviva UK Property Feeder → OMR L&G Property Feeder
• OMR Prof Aviva UK Property Feeder → OMR Prof L&G Property Feeder
• Aviva Investors UK Property Feeder (Life & Pension) → L&G Property Feeder.
Any forthcoming payment received from Aviva will be added to customers’ plans using the replacement funds above. No action is required. Customers will receive a letter once units have been added to their plans. This will then close the above Aviva Funds.
Default Replacement Fund: OMR Emerging Market Debt Unconstrained
Closing Fund TER: 1.26%
Default Replacement Fund TER: 0.37%
Objective of Default Replacement Fund: The OMR Emerging Market Debt Unconstrained invests in the PUTM Bothwell Emerging Market Debt Unconstrained Fund (the ‘Fund’) which aims to provide returns from capital appreciation and foreign currency movements by outperforming the benchmark (before fees) by 1.5% to 2.5% per annum over any given 3 year period. The benchmark is 50% JPM EMBI Global Diversified (US$) (EMD) and 50% JPM GBI-EM Global Diversified (US$) (EM LC D) (the “Composite Index”).
This fund invests in the underlying retail fund in order to track its performance, this means that fund performance may differ to the underlying fund. Customers will be invested in the new fund from 19/01/2025, but these changes may not be visible until up to two weeks following this date.
Default Replacement Fund: OMR Emerging Market Debt Unconstrained
Closing Fund TER: 1.37%
Default Replacement Fund TER: 0.37%
Objective of Default Replacement Fund: The OMR Emerging Market Debt Unconstrained invests in the PUTM Bothwell Emerging Market Debt Unconstrained Fund (the ‘Fund’) which aims to provide returns from capital appreciation and foreign currency movements by outperforming the benchmark (before fees) by 1.5% to 2.5% per annum over any given 3 year period. The benchmark is 50% JPM EMBI Global Diversified (US$) (EMD) and 50% JPM GBI-EM Global Diversified (US$) (EM LC D) (the “Composite Index”).
This fund invests in the underlying retail fund in order to track its performance, this means that fund performance may differ to the underlying fund. Customers will be invested in the new fund from 19/01/2025, but these changes may not be visible until up to two weeks following this date.
We confirm we’re expecting to receive a fifth payment from Aviva which we will be passing on to customers shortly after. Those customers still invested in the impacted funds will have their payments added to their plans in the following replacement funds:
OMR Aviva UK Property Feeder > OMR abrdn UK Real Estate
OMR Prof Aviva UK Property Feeder > OMR Prof Deposit
Aviva Investors UK Prop Feeder (Life & Pension) > L&G Property Feeder
We’ll be issuing a letter to customers shortly after the units have been added to plans. This is expected to be the final Aviva Investors UK Property Feeder payment.
Default Replacement Fund: OMR Schroder Managed Balanced Fund
Closing Fund TER: 1.32%
Default Replacement Fund TER: 0.56%
Objective of Default Replacement Fund:
The Fund aims to provide capital growth and income by investing in a diversified range of assets and markets worldwide. The Fund is actively managed and invests indirectly through collective investment schemes, exchange traded funds, real estate investment trusts or closed ended funds, in equity and equity related securities, fixed and floating rate securities or alternative assets worldwide. This fund invests in the underlying retail fund in order to track its performance, this means that fund performance may differ to the underlying fund. Customers will be invested in the new fund from 13 January 2026, but these changes may not be visible until up to two weeks following this date.
We can confirm that we are expecting to receive an eighth payment from M&G which we will be passing on to customers shortly after.
Those customers invested in the impacted funds will have their payments added to their plans in the following replacement funds:
OMR M&G Feeder of Property Portfolio > OMR L&G Property Feeder
AL M&G Property > AL abrdn Real Estate Property
M&G Feeder of Property Portfolio (Life & Pension) > L&G Property Feeder.
We will be issuing a letter to customers shortly after the units have been added to plans.
We expect to receive further payments in future and will provide further information when we do.
