As part of our responsibility to regularly review the funds available to our customers, we have decided to close the following funds and switch any current customers to the corresponding replacement funds. We have attempted to choose replacement funds with the same or similar risk rating as the original fund.
Customers can see which funds they are currently invested in within their most recent annual statement, and a confirmation letter will be sent to any customers impacted by the changes listed below following the event.
A pre-notification was sent to all customers and their advisers impacted by the closures in September this year.
Closing Fund Name Replacement Fund Name
abrdn Sterling Index-Linked Bond Vanguard UK Govt Bond Fund
Abs Insight UK Eqty Mkt Neutr PIMCO GIS Global (Sterling Hedged)
AL abrdn Sterling Index-Linked Bond GQSBAL Vanguard UK Govt Bond Fund GQSB
AL abrdn Sterling Index-Linked Bond PPB AL Vanguard UK Govt Bond Fund PPB
AL abrdn Sterling Index-Linked Bond PPB1 AL Vanguard UK Govt Bond Fund PPB1
AL Abs Insight UK Eqty Mkt Neutral GQSB PIMCO GIS Global (Sterling Hedged) GQSB
AL Abs Insight UK Eqty Mkt Neutral PPB PIMCO GIS Global (Sterling Hedged) PPB
AL Abs Insight UK Eqty Mkt Neutral PPB1 PIMCO GIS Global (Sterling Hedged) PPB1
AL Abs Insight UK Eqty Mkt Neutral PPBR PIMCO GIS Global (Sterling Hedged) PPBR
AL CT Global Equity PPB AL BNY Mellon Multi Asset Growth PPB
AL CT Global Equity PPB1 AL BNY Mellon Multi Asset Growth PPB1
AL Margetts Greystone Balanced Man GQSB AL Jupiter Merlin Balanced Pfolio GQSB
AL Margetts Greystone Cautious Man GQSB AL Investec Cautious Managed Fund GQSB
AL Margetts Greystone Global Growth GQSB Fundsmith Equity GQSB
BlackRock FI Opp (Sterling Hedged) GQSB Henderson Strategic Bond GQSB
BNY Mellon US Equity Income L&G US Index
BNY Mellon US Equity Income GWEB L&G US Index GWEB
BNY Mellon US Equity Income PPB L&G US Index PPB
BNY Mellon US Equity Income PPB1 L&G US Index PPB1
BNY Mellon US Equity Income PPBR L&G US Index PPBR
CT Global Equity Inc Fund 21 L&G Life BNY Mellon Global Income Fund
CT Global Equity Inc Fund 25 L&G Pension BNY Mellon Global Inc Fund
CT Global Equity Inc Fund LS4 L&G Life BNY Mellon Global Income Fund
CT Global Equity Inc Fund LS5 L&G Life BNY Mellon Global Income Fund
Edgewood L Select US Select Growth L&G US Index
Edgewood L Select US Select Growth GQSB L&G US Index GQSB
Edgewood L Select US Select Growth PPB L&G US Index PPB
Edgewood L Select US Select Growth PPB1 L&G US Index PPB1
Fidelity Emerging Markets Fund LS4 L&G Life Lazard Emerging Markets Fund
Fidelity Multi Asset Open Growth CF Seneca Diversified Growth
Fidelity MultiAsset Open Strategic Investec Cautious Managed Fund
First State Stewart Asia Focus Fund Hermes Asia ex Japan
First State Stewart Asia Focus Fund GQSB Hermes Asia ex Japan GQSB
First State Stewart Asia Focus Fund GWEB Hermes Asia ex Japan GWEB
First State Stewart Asia Focus Fund PPB Hermes Asia ex Japan PPB
First State Stewart Asia Focus Fund PPB1 Hermes Asia ex Japan PPB1
First State Stewart Asia Focus Fund PPBR Hermes Asia ex Japan PPBR
FTF Royce US Small Co Fund LS5 L&G Life JPMorgan US Fund
FTF Royce US Small Comps Fund L&G Life JPMorgan US Fund
FTF Royce US Small Cos Fund 2 L&G Life JPMorgan US Fund
FTF Royce US Smaller Co Fund L&G Pension JPMorgan US Fund
HSBC Global Distribution Fund LS5 L&G Life Jupiter Merlin Income Portfolio
Invesco Perpetual European Equity Henderson European Selected Opps
Invesco Perpetual European Equity GQSB AL Henderson European Selected Opps GQSB
Invesco Perpetual European Equity PPB AL Henderson European Selected Opps PPB
Invesco Perpetual European Equity PPB1 AL Henderson European Selected Opps PPB1
Invesco Perpetual Global Target Rtn BNY Mellon Multi Asset Div Return
Invesco Perpetual Global Target Rtn GQSB AL MM Managed Income GQSB
Janus Henderson MM Active Fund CT Managed Equity Fund 25
Janus Henderson MM Active Fund LS5 CT Managed Equity Fund 21
Janus Henderson MultiAsset Abs Rtn Fund abrdn Global Abs Return Strat 21
Janus Henderson MultiAst Abs Rtn F LS5 abrdn Global Abs Return Strat 21
Janus Henderson MultiAst Abs Rtn Fund abrdn Global Abs Return Strat 25
Jupiter Global Equity Fund LS4 L&G Life abrdn World Equity Fund
Jupiter UK Smaller Companies Fund 21 Investec UK Smaller Companies Fund 21
Jupiter UK Smaller Companies Fund 25 Investec UK Smaller Companies Fund 25
L&G European Index GQSB Black Rock European Dynamic FA Acc GQSB
L&G Life Fidelity Emerging Markets Fund L&G Life Lazard Emerging Markets Fund
L&G Life HSBC Global Distribution Fund L&G Life Jupiter Merlin Income Portfolio
L&G Life Investec UK Alpha Fund L&G Life Schroder UK Alpha Plus Fund
L&G Life Investec UK Alpha Fund LS4 L&G Life Schroder UK Alpha Plus Fund
L&G Life Janus Henderson MM Active Fund CT Managed Equity Fund 21
L&G Life Jupiter Global Equity Fund L&G Life abrdn World Equity Fund
L&G Life Schroder Recovery Fund L&G Life M&G Recovery Fund
L&G Life Schroder Recovery Fund LS5 L&G Life M&G Recovery Fund
L&G Pension Schroder Recovery Fund L&G Pension M&G Recovery Fund
L&G UK Index Lindsell Train UK Equity
L&G UK Index GQSB Lindsell Train UK Equity GQSB
L&G UK Index PPB Lindsell Train UK Equity PPB
L&G UK Index PPB1 Lindsell Train UK Equity PPB1
M&G Global Macro Bond Fund PIMCO GIS Global (Sterling Hedged)
M&G Global Macro Bond Fund GQSB PIMCO GIS Global (Sterling Hedged) GQSB
M&G Global Macro Bond Fund PPB PIMCO GIS Global (Sterling Hedged) PPB
M&G Global Macro Bond Fund PPB1 PIMCO GIS Global (Sterling Hedged) PPB1
New Capital Wealth Nations PIMCO GIS Global (Sterling Hedged)
New Capital Wealth Nations GQSB PIMCO GIS Global (Sterling Hedged) GQSB
New Capital Wealth Nations PPB PIMCO GIS Global (Sterling Hedged) PPB
New Capital Wealth Nations PPB1 PIMCO GIS Global (Sterling Hedged) PPB1
New Capital Wealth Nations PPBR PIMCO GIS Global (Sterling Hedged) PPBR
Pimco Glob GradeCredit (GBP Hedged) PIMCO GIS Global (Sterling Hedged)
Pimco Glob GradeCredit (GBP Hedged) GQSB PIMCO GIS Global (Sterling Hedged) GQSB
Pimco Glob GradeCredit (GBP Hedged) PPB PIMCO GIS Global (Sterling Hedged) PPB
Pimco Glob GradeCredit (GBP Hedged) PPB1 PIMCO GIS Global (Sterling Hedged) PPB1
Pimco Glob High Yield (GBP Hedged) PIMCO GIS Global (Sterling Hedged)
Pimco Glob High Yield (GBP Hedged) GQSB PIMCO GIS Global (Sterling Hedged) GQSB
Pimco Glob High Yield (GBP Hedged) GWEB PIMCO GIS Global (Sterling Hedged) GWEB
Pimco Glob High Yield (GBP Hedged) PPBR PIMCO GIS Global (Sterling Hedged) PPBR
Schroder European Alpha Plus Fund 21 Schroder European Opportunities Fund 21
Schroder European Alpha Plus Fund 25 Schroder European Recovery
Threadneedle Enhanced Commodities BlackRock Gold and General
Threadneedle Enhanced Commodities GQSB AL BlackRock Gold & General GQSB
UBAM Global HY High Yield Solution GQSB PIMCO GIS Global (Sterling Hedged) GQSB
Default Replacement Fund: L&G Mixed Investment 0-35% Fund
Closing Fund TER: 0.09%
Default Replacement Fund TER: 0.07%
Objective of Default Replacement Fund: The aim of the fund is to provide growth. The Fund aims to achieve capital growth in excess of the Bank of England base interest rate per annum, the “Benchmark”, before deduction of any charges over rolling three year periods. There is no guarantee that the manager will outperform the Benchmark in any period and capital invested in the Fund is at risk.
Default Replacement Fund: OMR JPM US Select
Closing Fund TER: 1.28%
Default Replacement Fund TER: 0.58%
Objective of Default Replacement Fund: To provide capital growth by investing in a portfolio of equity securities of US companies. At least 80% of assets invested in equities of companies that are domicled, or carrying out the main part of their economic activity, in the US.
This fund will be closed following receipt of the confirmation of the merger of the external fund managed by Allianz. Customers will be issued with letters outlining your options following the closure.
Deafult replacement fund: OMR EAB Property Fund
Default replacement fund objective: The objective of the Fund is to achieve income and capital growth by investing solely in the Legal & General UK Property Fund (the “Master Fund”). While the Fund aims to be 100% invested in the Master Fund, it may hold cash where necessary to enable the making of payments to Unitholders or creditors. 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.
Default replacement fund: L&G Pension UK Property Feeder
Default replacement fund objective: The objective of the Fund is to achieve income and capital growth by investing solely in the Legal & General UK Property Fund (the “Master Fund”). While the Fund aims to be 100% invested in the Master Fund, it may hold cash where necessary to enable the making of payments to Unitholders or creditors.
Default replacement fund: L&G Life UK Property Feeder
Default replacement fund objective: The objective of the Fund is to achieve income and capital growth by investing solely in the Legal & General UK Property Fund (the “Master Fund”). While the Fund aims to be 100% invested in the Master Fund, it may hold cash where necessary to enable the making of payments to Unitholders or creditors.
Default replacement fund: OMR Prof L&G UK Property Feeder
Default replacement fund objective: The objective of the Fund is to achieve income and capital growth by investing solely in the Legal & General UK Property Fund (the “Master Fund”). While the Fund aims to be 100% invested in the Master Fund, it may hold cash where necessary to enable the making of payments to Unitholders or creditors. 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.
Default replacement fund: OMR L&G UK Property Feeder
Default replacement fund objective: The objective of the Fund is to achieve income and capital growth by investing solely in the Legal & General UK Property Fund (the “Master Fund”). While the Fund aims to be 100% invested in the Master Fund, it may hold cash where necessary to enable the making of payments to Unitholders or creditors. 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.
Default Replacement Fund: OMR Stewart Investors Global Emerging Markets Leaders
Closing fund TER: 1.02%
Default Replacement Fund TER: 1.2%
The closing fund has been suspended since March 2022. Once the proceeds from the closure have been received from the Fund Manager shortly after the closure date, each customer will receive units in the default replacement fund named above within 4 weeks equivalent to the value owed to each. This will be processed at the prices effective on the closure date.
