On 30/06/2025 we were informed by Legal & General Investment Management Limited that the Global Emerging Markets Index Fund (PMC) would be closed with customers moved into the World Emerging Markets Equity Index Fund (PMC) on 31/10/2025 and as a result there will be a change to the fund customers currently hold.
Default replacement fund: World Emerging Markets Equity Index Fund (PMC)
Closing Fund TER: 0.25%
Default Replacement Fund TER: 0.55%
Objective of Default Replacement Fund: The Fund aims to provide long term capital growth from direct or indirect investment in emerging stock markets worldwide or companies with significant activities in emerging markets. The investment objective of the fund is to track the performance of the FTSE Emerging Index (less withholding tax where applicable) to within +/-1.5% p.a. for two years out of three. Customers will be invested in the new fund from 31/10/2025, but these changes may not be visible until up to two weeks following this date.
We confirm we are expecting to receive a seventh 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 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.
Default Replacement Fund: OMR abrdn Diversified Growth and Income Fund (SDB)
Closing Fund TER: 1.59%
Default Replacement Fund TER: 1.06%
New Distribution Frequency: Monthly
Objective of Default Replacement Fund:
The objective of the Fund is to generate a positive return through capital growth and income over the long term (5 years or more) by investing in a globally diversified portfolio of assets whilst reducing the risk of losses. The fund aims to exceed the return of SONIA by 5% per annum over rolling five year periods (before charges).The fund invests globally in a range of asset classes, derivatives, cash and assets that can be turned into cash quickly. The fund may also invest in other funds (including those managed by abrdn) to gain exposure to a broad mix of assets from across the global investment universe. Asset classes that the fund invests in may include equities (company shares), high yield bonds (which are like loans to companies that pay a high rate of interest, but have a low credit rating), emerging market bonds, and investment trusts (providing access to a diverse mix of others assets including infrastructure, property company shares and private equity holdings).
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 26/06/2025, but these changes may not be visible until up to 2 weeks following this date.
Default Replacement Fund: OMR abrdn Diversified Growth and Income Fund
Closing Fund TER: 1.59%
Default Replacement Fund TER: 1.11%
Objective of Default Replacement Fund:
The objective of the Fund is to generate a positive return through capital growth and income over the long term (5 years or more) by investing in a globally diversified portfolio of assets whilst reducing the risk of losses. The fund aims to exceed the return of SONIA by 5% per annum over rolling five year periods (before charges).The fund invests globally in a range of asset classes, derivatives, cash and assets that can be turned into cash quickly. The fund may also invest in other funds (including those managed by abrdn) to gain exposure to a broad mix of assets from across the global investment universe. Asset classes that the fund invests in may include equities (company shares), high yield bonds (which are like loans to companies that pay a high rate of interest, but have a low credit rating), emerging market bonds, and investment trusts (providing access to a diverse mix of others assets including infrastructure, property company shares and private equity holdings).
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 26/06/2025, but these changes may not be visible until up to 2 weeks following this date.
Default Replacement Fund: OMR Fidelity Special Situations Fund
Closing Fund TER: 0.63%
Default Replacement Fund TER: 0.53%
Objective of Default Replacement Fund:
The Fund aims to increase the value of investor’s investment over a period of 5 years or more. The Fund will invest at least 70% in equities (and their related securities) of UK companies (those domiciled, incorporated or having significant business in UK and those which are listed in the UK). The remainder will be invested in companies outside the UK and in other investment types such as cash. The fund may also use derivatives with the aim of achieving the investment objective. The Investment Manager will focus on companies it believes to be undervalued and whose recovery potential is not recognised by the market. It is not restricted in terms of size or industry.
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 18/08/2025, but these changes may not be visible until up to 2 weeks following this date.
We can confirm that we are expecting to receive a sixth 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 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.
We can confirm that we are expecting to receive a Fifth 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 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.
Default Replacement Fund: OMR JPM Europe Dynamic (ex-UK) Fund
Closing Fund TER: 0.97%
Default Replacement Fund TER: 0.87%
Objective of Default Replacement Fund:
The objective of the Fund is to maximise capital growth over the long-term (5-10 years) by investing at least 80% of the Fund’s assets in European equities (excluding the UK). At least 80% of assets invested in equities of companies that are domiciled, or carrying out the main part of their economic activity, in a European country (excluding the UK). The Fund may have significant positions in specific sectors or markets from time to time.
The Fund may invest in small capitalisation companies.
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 20/03/2025, but these changes may not be visible until up to 2 weeks following this date.
As part of our responsibility to regularly review the funds available to our customers we’ve decided to close one or more of the funds you’re invested in.
Closing fund objective:
The Fund aims to achieve a high level of income (greater than the income return of the FTSE All Share Index) and capital growth over the long-term (5 years plus). The Fund invests at least 80% of its assets in shares or other equity related securities of companies incorporated, domiciled or carrying out the main part of their economic activity in the UK.
Closing fund IMC: 0.92%
Replacement fund: Royal London UK Equity Income M Acc
Replacement fund objective:
The investment objective and policy of the Fund is to achieve a combination of income and some capital growth by investing mainly in UK higher yielding and other equities, as well as convertible stocks. The Fund may hold transferable securities, (including Exchange Traded Funds which are closed ended funds, but not those which are collective investment schemes), government and public securities, deposits and cash (for the purposes of EPM and redemption of units). It may also hold derivatives for the purposes of EPM only
Replacement fund IMC: 0.72%
Default Replacement Fund: OMR Artemis UK Smaller Companies Fund
Closing Fund TER: 1.25%
Default Replacement Fund TER: 1.19%
Objective of Default Replacement Fund:
The fund aims to grow capital over a five year period. The fund invests 80% to 100% in shares of smaller companies 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. The fund invests in any industry within the United Kingdom, including companies in other countries that are headquartered or have a significant part of their activities in the United Kingdom. The manager adopts a long-term investment approach and seeks to mostly invest in companies with predictable and/or growing cashflow streams which require little additional capital to sustain.
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 06/03/2025, but these changes may not be visible until up to 2 weeks following this date.
