Default replacement fund: JP Morgan UK Smaller Companies Investment Trust
Objective of the default replacement fund:
The Trusts’s objective is to achieve capital growth from UK listed smaller companies and a rising share price over the longer term by taking carefully controlled risks. The Trust has the ability to use borrowing to gear the portfolio within the range of 10% net cash to 15% geared in normal market conditions. Gearing may magnify gains or losses experienced by the Investment Trust. The Trust makes quarterly distributions that are set at the beginning of each financial year. On aggregate, the intention is to pay dividends totalling at least 4% of the NAV as at the end of the preceding financial year.
The closing fund will be closed to purchases and redemptions immediately. The continuing fund will be renamed to JP Morgan UK Small Cap Growth & Income Trust.
Default Replacement Fund: OMR SVM UK Opportunities Fund
Closing Fund TER: 1.41%
Default Replacement Fund TER: 1.42%
Objective of Default Replacement Fund:
The objective of this Fund is to achieve capital growth over the long term (5 years or more) and it aims to outperform the MSCI United Kingdom IMI (or any successor index). Performance is measured on a monthly basis over rolling 5 year periods after all fees and costs are deducted.
The Fund will invest at least 80% in equities and equity related instruments in UK companies. From time to time, when particular opportunities are identified, or the ACD considers it appropriate, the Fund may invest in other permitted transferable securities.
The Fund will seek to invest in the full range of opportunities available to it, which will include shares on the Alternative Investment Market. 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.
The merging fund will be suspended from 05/02/2024. Customers will be invested in the new fund from 09/02/2024, however their switches will not process until at least a week following the conversion.
Default Replacement Fund: abrdn Diversified Growth and Income Fund
Closing Fund TER: 0.83%
Default Replacement Fund TER: 0.93%
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. Invested capital is however at risk and there is no guarantee that this will be attained over any time period. The Fund aims to exceed the return of SONIA by 5% per annum over rolling five year periods (before charges). The Performance Target is the level of performance that the management team hopes to achieve for the fund. There is however no certainty or promise that they will achieve the Performance Target. The fund invests globally in a range of asset classes, derivatives, money-market instruments and cash.
Default Replacement Fund: OMR Jupiter Responsible Income Fund
Closing Fund TER: 1.21%
Default Replacement Fund TER: 1.17%
Objective of Default Replacement Fund:
The objective of the Fund is to provide income together with capital growth in order to achieve a return, net of fees, higher than that provided by the FTSE4Good UK Index over the long term (at least five years). At least 70% of the Fund is invested in shares of companies based in the UK that are actively managing their environmental and social impacts or are providing solutions to environmental and/or social problems. 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: abrdn UK Income Equity Fund
Closing Fund TER: 0.83%
Default Replacement Fund TER: 0.83%
Objective of Default Replacement Fund: The objective of the Fund is to generate income and some capital over the long term (5 years or more) by investing in UK equities (company shares). The fund aims to deliver a yield greater than that of the FTSE All Share Index over a rolling five year period (before charges) and achieve a return in excess of the FTSE All Share Index over a
rolling five year period (before charges). The Performance Target is the level of performance that the management team hopes to achieve for the fund. There is however no certainty or promise that they will achieve the Performance Target. The fund will invest at least 70% in equities and equity related securities of companies incorporated or domiciled in the UK or having significant operations and/or exposure to the UK.
Default Replacement Fund: OMR Jupiter Global Macro Bond Fund
Closing Fund TER: 1.17%
Default Replacement Fund TER: 0.86%
Objective of Default Replacement Fund: The objective of the fund is to seek to achieve income and capital growth, delivering a positive total return, net of fees, higher than the Sterling Overnight Interbank Average rate over rolling 3-year periods. Capital invested in the fund is at risk and there is no guarantee that a positive total return will be achieved over rolling 3-year periods or in respect of any other time period.
The fund primarily invests (at least 70%) in a diversified portfolio of global fixed, variable and zero rate debt securities, including government and corporate bonds. The fund will vary the currencies in which it invests to enable it to achieve its objective.
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.
On 15th August 2023, Liontrust announced a proposal to merge underlying Liontrust China Fund Fund with another one of their funds – Liontrust Emerging Markets Fund. This was voted on at Extraordinary General Meeting on 01/09/2023. We have now been advised by Liontrust, that Merger resolution has not passed during Extraordinary Meeting, therefore, the merger will not go effective on 08/09/2023 as they planned.
Default Replacement Fund: L&G JupiterCorporate Bond Fund
Closing Fund TER: 0.35%
Default Replacement Fund TER: 0.35%
Objective of Default Replacement Fund: The objective of the Fund is to provide income with the prospect of capital growth, in order to achieve a return, net of fees, higher than the ICE BofA Sterling Non-Gilt Index over the long term (at least five years). The Fund will aim to achieve its investment oAbjective by investing at least 70% of the Fund in fixed interest securities, as well as convertible bonds and preference shares, issued by companies based anywhere in the world and denominated in sterling or hedged back to sterling.
Default Replacement Fund: OMR Jupiter Corporate Bond Fund
Closing Fund TER: 0.77%
Default Replacement Fund TER: 0.77%
Objective of Default Replacement Fund: The objective of the Fund is to provide income with the prospect of capital growth, in order to achieve a return, net of fees, higher than the ICE BofA Sterling Non-Gilt Index over the long term (at least five years). The Fund will aim to achieve its investment objective by investing at least 70% of the Fund in fixed interest securities, as well as convertible bonds and preference shares, issued by companies based anywhere in the world and denominated in sterling or hedged back to sterling. 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 Sustainability Fund
Closing Fund TER: 1.47%
Default Replacement Fund TER: 1.47%
Objective of Default Replacement Fund: The Fund aims to achieve capital growth over the long-term (at least 5 years). The Fund invests in a diversified portfolio of equity or equity-related securities of companies that are incorporated or listed, or where a majority of their economic activities take place in Emerging Markets and which are listed, traded or dealt in on Regulated Markets worldwide. The Fund invests in quality companies which are positioned to contribute to, and benefit from, sustainable development. The Fund may invest up to 10% in other funds. The Fund will only use derivatives to reduce risk or to manage the Fund more efficiently in limited cases. The Fund is actively managed meaning that the Manager uses its expertise to pick investments rather than tracking the performance of a benchmark. The Fund’s performance is compared against the value of the MSCI Emerging Markets 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.
The closing fund will be closed to purchases and redemptions with effect from 07/07/2023.
