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.
New Objective:
The Fund aims to increase the value of your investment over a period of 5 years or more. The Fund will invest at least 70% in equities (and their related securities) of US companies (those domiciled, incorporated or having significant business in the US and those which are listed in the US) and aims to hold a concentrated portfolio of 30-55 securities. 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 Objective:
The Fund aims to increase the value of your investment over a period of 5 years or more. The Fund will invest at least 70% in equities (and their related securities) of US companies (those domiciled, incorporated or having significant business in the US and those which are listed in the US) and aims to hold a concentrated portfolio of 30-55 securities. 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.
Current TER: 1.24%
New TER: 1.22%
New Investment Objective:
The Fund aims to achieve income with prospects for capital growth over the long term (at least 5 years). It looks to provide a distributable income yield higher than the FTSE All-Share Index over rolling 3-year periods.
New Investment Objective:
The Fund aims to achieve capital growth, with some income, over the long term (at least 5 years). The Fund also looks to outperform the FTSE All-Share Index over rolling 5-year periods, after the deduction of charges.
Default Replacement Fund: L&G Schroder Prime UK Equity Fund
Closing Fund TER: 0.84%
Default Replacement Fund TER: 0.41%
Objective of Default Replacement Fund:
The Fund aims to provide capital growth in excess of the FTSE All Share (Gross Total Return) index (after fees have been deducted) over a three to five year period by investing in equity and equity related securities of UK companies. The Fund is actively managed and invests at least 80% of its assets in equity and equity related securities of UK companies. These are companies that are incorporated, headquartered or have their principal business activities in the UK. The Fund may also invest directly or indirectly in other securities (including in other asset classes), countries, regions, industries or currencies, collective investment schemes (including Schroder funds), warrants and money market instruments, and hold cash. The Fund may use derivatives with the aim of achieving investment gains, reducing risk or managing the Fund more efficiently. The merging fund will be suspended from 10/06/2025.
Default Replacement Fund: L&G Schroder Prime UK Equity Fund
Closing Fund TER: 0.84%
Default Replacement Fund TER: 0.41%
Objective of Default Replacement Fund:
The Fund aims to provide capital growth in excess of the FTSE All Share (Gross Total Return) index (after fees have been deducted) over a three to five year period by investing in equity and equity related securities of UK companies. The Fund is actively managed and invests at least 80% of its assets in equity and equity related securities of UK companies. These are companies that are incorporated, headquartered or have their principal business activities in the UK. The Fund may also invest directly or indirectly in other securities (including in other asset classes), countries, regions, industries or currencies, collective investment schemes (including Schroder funds), warrants and money market instruments, and hold cash. The Fund may use derivatives with the aim of achieving investment gains, reducing risk or managing the Fund more efficiently. The merging fund will be suspended from 10/06/2025.
