Updated effective date: The effective date for the changes from the fund manager is now 24th September 2024.
To achieve its objective, the Fund will invest at least 90% of its value in listed infrastructure securities and listed property-related securities. There will be no geographical restrictions.
The Fund may invest up to 10% of its value in depository receipts and other assets that provide indirect exposure to listed infrastructure securities and listed property-related securities. The Fund may invest up to 10% of its value in collective investment schemes, which in turn invest in listed infrastructure securities, listed property related securities and/or other assets. The collective investment schemes may be managed or operated by the HSBC Group. To manage day-to-day cash flow requirements, the Fund may also invest in money market instruments, deposits and cash. The Fund may invest in derivatives for efficient portfolio management purposes, including hedging. This means investment techniques that aim to reduce risks, reduce costs or generate growth and income. On giving 60 days’ notice to Shareholders the Fund may also use derivatives for broader investment purposes to help the Fund meet its objective. The Fund does not intend to use derivatives extensively and their use will be consistent with the risk profile of the Fund.
New name: Global Listed Real Assets Fund
New objective:
To achieve its objective, the Fund will invest at least 90% of its value in listed infrastructure securities and listed property-related securities. There will be no geographical restrictions.
The Fund may invest up to 10% of its value in depositary receipts and other assets that provide indirect exposure to listed infrastructure securities and listed property-related securities. The Fund may invest up to 10% of its value in collective investment schemes, which in turn invest in listed infrastructure securities, listed property related securities and/or other assets. The collective investment schemes may be managed or operated by the HSBC Group. To manage day-to-day cash flow requirements, the Fund may also invest in money market instruments, deposits and cash.
The Fund may invest in derivatives for efficient portfolio management purposes, including hedging. This means investment techniques that aim to reduce risks, reduce costs or generate growth and income. On giving 60 days’ notice to Shareholders the Fund may also use derivatives for broader investment purposes to help the Fund meet its objective. The Fund does not intend to use derivatives extensively and their use will be consistent with the risk profile of the 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.
In March 2023 we were advised by L&G of minor changes to the objectives of the underlying assets held by the below funds. Unfortunately during the process of updating our systems an error was made and an incorrect objective was updated. We have now corrected the objective and that will be reflected in the fund factsheet and annual statements.
The objective of the fund is to invest in the L&G Future World Sustainable UK Equity Focus Fund. The underlying fund aims to outperform the FTSE All-Share Index GBP (the benchmark) after the deduction of all fees and charges.
The fund is permitted to hold a maximum of 0.5% of its exposure to net cash (including LGIM Liquidity Funds and accruals) and a minimum of 99.5% to the L&G Future World Sustainable UK Equity Focus Fund.
In March 2023 we were advised by L&G of minor changes to the objectives of the underlying assets held by the below funds. Unfortunately during the process of updating our systems an error was made and an incorrect objective was updated. We have now corrected the objective and that will be reflected in the fund factsheet and annual statements.
The objective of the fund is to invest in the Legal & General Active Global High Yield Bond fund. The underlying fund aims to outperform the ICE BofA BB-B Global High Yield Non-Financial 2% Constrained Total Return Index (the benchmark) after the deduction of all fees and charges. The fund is permitted to hold a maximum of 0.5% of its exposure to net cash (including LGIM Liquidity Funds and accruals) and a minimum of 99.5% to the L&G Active Global High Yield Bond Fund.
In March 2023 we were advised by L&G of minor changes to the objectives of the underlying assets held by the below funds. Unfortunately during the process of updating our systems an error was made and an incorrect objective was updated. We have now corrected the objective and that will be reflected in the fund factsheet and annual statements.
The objective of the fund is to invest in the Legal & General Future World Sustainable UK Equity Fund. The underlying fund aims to outperform the FTSE All-Share Index GBP (the benchmark) after the deduction of all fees and charges.
The fund is permitted to hold a maximum of 0.5% of its exposure to net cash (including LGIM Liquidity Funds and accruals) and a minimum of 99.5% to the Legal & General Future World Sustainable UK Equity Fund.
In March 2023 we were advised by L&G of minor changes to the objectives of the underlying assets held by the below funds. Unfortunately during the process of updating our systems an error was made and an incorrect objective was updated. We have now corrected the objective and that will be reflected in the fund factsheet and annual statements.
The objective of the fund is to invest in the L&G UK Smaller Companies Trust. The underlying fund aims to outperform the Numis Smaller Companies Index excluding (Investment Companies) (the benchmark) after the deduction of all fees and charges.
The fund is permitted to hold a maximum of 0.5% of its exposure to net cash (including LGIM Liquidity Funds and accruals) and a minimum of 99.5% to the L&G UK Smaller Companies Trust.
Old TER: 0.81%
New TER: 0.77%
Default Replacement Fund: OMR Aegon Strategic Bond Fund
Closing Fund TER: 0.67%
Default Replacement Fund TER: 0.60%
Objective of Default Replacement Fund:
The investment objective is to provide a combination of income and capital growth over any 7 year period. At least 80% of the Fund will be invested in a diverse portfolio of corporate bonds and government and public securities issued anywhere in the world and denominated in any currency. 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 OMR Aegon Strategic Bond from 30/08/2024, but please note these changes may not be visible until up to 2 weeks following this date.
Old TER: 0.88%
New TER: 0.83%
