New name: OMR Jupiter Global Macro Bd
New Objective: 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.
New Name: OMR T. Bailey Global Thematic Equity Fund
New objective:
The Fund aims to provide capital growth in excess of the IA Global Sector average over Rolling Periods of 5 years (after charges).
Typically, at least 80% of the Fund will be invested in other collective investment vehicles, such as open-ended collective investment schemes, unit trusts, investment trusts (“funds”) and exchange-traded products (“ETPs”) which provide indirect exposure to global equities. Such funds may include those managed or operated by the Manager and its associates.
Through its investments in other funds and ETPs, the Fund may also be exposed to a range of other asset classes such as government and corporate debt, money market instruments, currencies, property, commodities, infrastructure, deposits, cash and near cash anywhere in the world.
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.
New name: OMR T. Bailey Multi-Asset Dynamic Fund
New objective:
The Fund aims to outperform the Consumer Prices Index plus 3% per annum over Rolling Periods of 5 years (after charges). Although the Fund aims to outperform the Consumer Prices Index plus 3% per annum over Rolling Periods of 5 years, capital invested is, in fact, at risk and there is no guarantee that a positive return will be generated over that time period or any other time period.
Typically at least 80% of the Fund will be invested in a range of other collective investment vehicles, such as open-ended collective investment schemes, unit trusts, investment trusts (“funds”) and exchange-traded products (“ETPs”). The funds may include those managed or operated by the Manager and its associates.
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.
New Name: OMR BlackRock Natural Resources Fund
New objective: The Fund aims to provide a return on your investment (generated through an increase in the value of the assets held by the Fund and/or income received from those assets) (gross of fees). Although the Fund aims to achieve its investment objective, there is no guarantee that this will be achieved. The Fund’s capital is at risk meaning that the Fund could suffer a decrease in value and the value of your investment would decrease as a result. In seeking to achieve its investment objective, the Fund will invest at least 70% of its total assets in the equity securities (i.e. shares) and equity-related investments (i.e. other investments whose value is related to equities) of companies whose predominant economic activity is in the natural resources sector which includes, but is not limited to, mining, agriculture and energy. 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.
New Name:Jupiter Merlin Conservative Select
New objective:
The objective of the Fund is to provide a return, through a combination of capital growth and income, net of fees, over the long term (at least five years). At least 70% of the Fund is invested in collective investment schemes, with typically between 40% to 70% and at least 25% in funds managed or operated by Jupiter or an associate of Jupiter. Up to 30% of the Fund may be invested in other transferable securities, cash and near cash. The Fund will have exposure (direct and/or indirect) of: (i) at least 60% to fixed interest securities; and (ii) up to 35% to shares of companies. The Fund will aim to achieve it’s investment objective by investing at least 70% of the Fund in collective investment schemes (such as unit trusts, OEICs, SICAVs, exchange traded funds (ETFs) and closed or open-ended funds) which may have exposure to shares of companies globally, fixed interest securities, derivatives (including for investment purposes), commodities or property.
New name: Jupiter Merlin Income and Growth Select
New objective:
The objective of the Fund is to provide a return, through a combination of income and capital growth, net of fees, over the
long term (at least five years). At least 70% of the Fund is invested in collective investment schemes, with typically between 40% to 70% and at least 25% in funds managed or operated by Jupiter or an associate of Jupiter. Up to 30% of the Fund may be invested in other transferable securities, cash and near cash. The Fund will have exposure (direct and/or indirect) of 40% to 85% (typically between 65% to 75%) to shares of companies. At least 25% of the Fund will (in aggregate) be invested directly or indirectly in i) shares issued by companies based in the UK and/or funds investing in such companies; and/or ii) transferable securities which are sterling-denominated or hedged back to sterling. The Fund may use derivative transactions for investment purposes. The Fund will aim to achieve it’s investment objective by investing at least 70% of the Fund globally in collective investment schemes and, exchange traded funds (ETFs) which give exposure to shares of companies, fixed interest debt securities, money market instruments, deposits and cash.
New name: OMR Jupiter Merlin Income and Growth Select
New objective:
The objective of the Fund is to provide a return, through a combination of income and capital growth, net of fees, over the long term (at least five years). At least 70% of the Fund is invested in collective investment schemes, with typically between 40% to 70% and at least 25% in funds managed or operated by Jupiter or an associate of Jupiter. Up to 30% of the Fund may be invested in other transferable securities, cash and near cash. The Fund will have exposure (direct and/or indirect) of 40% to 85% (typically between 65% to 75%) to shares of companies. At least 25% of the Fund will (in aggregate) be invested directly or indirectly in i) shares issued by companies based in the UK and/or funds investing in such companies; and/or ii) transferable securities which are sterling-denominated or hedged back to sterling. The Fund may use derivative transactions for investment purposes. The Fund will aim to achieve it’s investment objective by investing at least 70% of the Fund globally in collective investment schemes and, exchange traded funds (ETFs) which give exposure to shares of companies, fixed interest debt securities, money market instruments, deposits and cash. 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 OMR Fidelity Emerging Europe Middle East & Africa fund invests in the Fidelity Emerging Europe Middle East & Africa, managed by Fidelity International (the Fund Manager). We previously notified investors in the OMR fund that this was suspended to purchases/new business last year as a result of the Ukraine and Russia conflict.
The Fund Manager has now advised us that they plan to re-open the non-Russia linked underlying assets of the fund fully. In order to do this, they will be setting up a new share class called the Fidelity Sustainable Emerging Markets Equity Fund, which will hold the non-Russian linked liquid assets. For investors in the OMR Fidelity Emerging Europe Middle East & Africa fund currently, this will mean that the fund you hold will change name to the OMR Fidelity Sustainable Emerging Markets Equity fund on or shortly after 29/03/2023. Additionally, the fund will be made fully open to purchases and sales at the same time. There will be no customer switch reflected on plans as the result of this change in underlying asset.
Following the conversion date policyholders will not be able to buy or sell shares in the Russian linked illiquid assets, as Fidelity International will take the necessary steps to close the underlying fund and sell these remaining assets when possible. In the current environment it is not possible to estimate how long this process might take to complete, or what the eventual value might be. Given that the Fund Manager is unable to accurately reflect a value of these assets currently, plans will not show any value held within these assets following the changes above.
A further letter to the policyholders will be issued shortly explaining what this means for them and what their options are.
Findlay Park Funds (the Fund Manager) will be changing the name of the shareclass that the Findlay Park American fund invests in.
Old Shareclass name: Findlay Park American Stg Unhgd GBP
New Shareclass name: Findlay Park American Class I GBP
New Name: OMR Jupiter Asia Pacific Income Fund (IRL)
New Objective: The objective of the Fund is to seek to achieve long term capital growth and income. Investors should be aware that there is no guarantee that the Fund will achieve its investment objective. The Fund will aim to achieve its investment objective by investing not less than 70 % of the Net Asset Value of the Fund in equity and equity related securities (“Equity and Equity Related Securities”) of issuers which (i) are incorporated, headquartered, listed or have their registered office in the Asia Pacific region (excluding Japan); or (ii) which have a predominant proportion of their assets or business operations in the Asia Pacific region (excluding Japan).
The Fund has no restrictions as to the proportion of assets allocated to emerging markets, companies of any particular market capitalisation and may invest across a range of economic sectors. Equity and Equity Related Securities shall include equities, depositary receipts, preference shares, equity linked notes (unleveraged debt securities linked to the performance of equities), warrants (not more than 5% of the Fund’s Net Asset Value), convertible securities (such as convertible preference shares, share purchase rights and bonds convertible into common or preferred shares).
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.
