Default Replacement Fund: AXA Framlington Global Thematics Fund
Closing Fund TER: 1.55%
Default Replacement Fund TER: 1.56%
Objective of Default Replacement Fund:
The aim of this Fund is to provide long-term capital growth over a period of 5 years or more. The Fund invests in shares of listed companies which are based anywhere in the world (including countries which the Manager considers to be emerging markets) and which the Manager believes will provide above-average returns. The Fund invests principally (meaning at least 80% of its assets) in large and medium-sized companies. The Manager selects shares based upon analysis of a company’s financial status, quality of its management, expected profitability and prospects for growth taking into account the company’s exposure to long-term themes influencing the global economy. The Manager has full discretion to select investments for the Fund in line with the above investment policy and in doing so may take into consideration the MSCI All Country World 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 merging fund will be suspended from 23/01/2025. Customers will be invested in the new fund from 24/01/2025, however their switches will not process until at least a week following the conversion.
On 4th December 2024 we were informed by Artemis Fund Managers Limited that the Artemis European Select Fund would be merged with the Artemis SmartGARP European Equity Fund on 10th January 2025. As a result there will be a change to the fund customers currently hold.
Default replacement fund: Artemis SmartGARP European Equity Fund
Closing Fund IMC: 0.84%
Default Replacement Fund IMC: 0.86%
Objective of Default Replacement Fund: To grow capital over a five year period. The Fund invests 80% to 100% in company shares. 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. At least 80% in Europe (excluding the United Kingdom). Up to 20% in other countries.
On the 16th September 2024 we were informed by AXA that the AXA Framlington Monthly Income Fund would be merged with the AXA Framlington UK Equity Income Fund on the 20th September 2024. As a result there will be a change to the fund customers currently hold.
Default Replacement Fund: AXA Framlington UK Equity Income Fund
Closing Fund TER: 1.65%
Default Replacement Fund TER: 1.60%
Objective of Default Replacement Fund: The aim of this Fund is to produce higher than average income with long-term growth of income and capital over a period of 5 years or more. The fund manager also intends to achieve a yield of distributable income in excess of 100% of the FTSE All Share yield at the Fund’s year end on a rolling 3 year basis, and in excess of 90% on an annual basis. Customers will be invested in the new fund from 20/09/2024, but these changes may not be visible until up to 2 weeks following this date.
On the 16th September 2024 we were informed by AXA that the AXA Framlington Monthly Income Fund would be merged with the AXA Framlington UK Equity Income Fund on the 20th September 2024. As a result there will be a change to the fund customers currently hold.
Default Replacement Fund: OMR AXA Framlington UK Equity Income Fund
Closing Fund TER: 1.2%
Default Replacement Fund TER: 1.15%
Objective of Default Replacement Fund: The aim of this Fund is to produce higher than average income with long-term growth of income and capital over a period of 5 years or more. The fund manager also intends to achieve a yield of distributable income in excess of 100% of the FTSE All Share yield at the Fund’s year end on a rolling 3 year basis, and in excess of 90% on an annual basis.
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 20/09/2024, but these changes may not be visible until up to 2 weeks following this date.
Default Replacement Fund: BNY MELLON GLOBAL EQUITY FUND
Closing Fund TER: 0.66%
Default Replacement Fund TER: 0.65%
Objective of Default Replacement Fund: The Sub-Fund aims to achieve capital growth over the long term (5 years or more).
The Sub-Fund is actively managed and invests at least 75% in global equities (company shares), including ordinary shares, preference shares and other equity-related securities. The Sub-Fund may also invest in collective investment schemes (including but not limited to another Sub-Fund or Sub-Funds of the Company or other BNY Mellon funds), money market instruments, deposits, cash and near cash. Any investment in collective investment schemes will not exceed 10% of the portfolio. Any use of derivatives will be for efficient portfolio management purposes and hedging only. It is not expected that the use of derivatives will materially affect the overall risk profile of the Sub-Fund.
Default Replacement Fund: OMR Nordea Swedish Bond Fund
Closing Fund TER: 0.71%
Default Replacement Fund TER: 0.87%
Objective of Default Replacement Fund:
The objective of the fund is to provide shareholders with investment growth in the medium to long term. The fund mainly invests in Swedish bonds. Specifically, the fund invests at least two thirds of total assets in debt securities that are issued by public authorities, or by companies that are domiciled or conduct the majority of their business in Sweden. The fund’s main currency exposure is to the base currency, although it may also be exposed (through investments or cash) to other currencies.
In actively managing the fund’s portfolio, the management team selects securities that appear to offer superior investment opportunities. The fund considers principal adverse impacts on sustainability factors. The fund partly invests in sustainable investments. The fund promotes environmental and/or social characteristics. 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.
Please note that the merging fund will be suspended from 05/09/2024.
Default Replacement Fund: OMR Fidelity Japan Fund
Closing Fund TER: 1.34%
Default Replacement Fund TER: 1.20%
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 Japanese companies (those domiciled, incorporated or having significant business in Japan and those which are listed in Japan) and is not restricted in terms of size or industry. The Fund is actively managed without reference to a benchmark.
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.
No new investments will be permitted in the merging fund after midday on 31/05/2024. Customers will be invested in the new fund from 07/06/2024, but these changes may not be visible until up to 2 weeks following this date.
Default Replacement Fund: OMR Prof Fidelity Japan Fund
Closing Fund TER: 1.34%
Default Replacement Fund TER: 1.20%
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 Japanese companies (those domiciled, incorporated or having significant business in Japan and those which are listed in Japan) and is not restricted in terms of size or industry. The Fund is actively managed without reference to a benchmark.
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.
No new investments will be permitted in the merging fund after midday on 31/05/2024. Customers will be invested in the new fund from 07/06/2024, but these changes may not be visible until up to 2 weeks following this date.
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.
