Old Share Class: A Acc
Old TER: 2.02%
New Share Class: C Acc
New TER: 1.54%
Old Share Class: A Acc
Old TER: 1.83%
New Share Class: C Acc
New TER: 1.45%
Allianz Global Investors are changing the investment policy of Allianz Gilt Yield Fund to allow it to invest in bonds issued by government owned and / or government sponsored entities. Such investment will be included in the maximum 20% of the Fund which may be invested in non-UK Government bonds. The Fund’s minimum 80% investment in gilts (UK Government bonds) will remain unchanged. By implementing this change to investment policy Allianz will enlarge the investment universe for the Fund and potentially enhance returns, with no additional credit risk – given that any investment in such bonds is subject to the same minimum rating requirements as non-UK government bonds stated in the Fund’s investment policy (i.e. “a rating the same or higher than bonds issued by the United Kingdom Government”).
Allianz Global Investors are changing the investment policy of Allianz Gilt Yield Fund to allow it to invest in bonds issued by government owned and / or government sponsored entities. Such investment will be included in the maximum 20% of the Fund which may be invested in non-UK Government bonds. The Fund’s minimum 80% investment in gilts (UK Government bonds) will remain unchanged. By implementing this change to investment policy Allianz will enlarge the investment universe for the Fund and potentially enhance returns, with no additional credit risk – given that any investment in such bonds is subject to the same minimum rating requirements as non-UK government bonds stated in the Fund’s investment policy (i.e. “a rating the same or higher than bonds issued by the United Kingdom Government”).
New Name: OMR AXA Mgd Income (Grs) Fund
New Objective :
The aim of this Fund is to produce an income return with potential for long-term growth of capital (being a period of five years or more). The Fund invests at least 80% in bonds issued in or hedged back to Sterling by companies and governments which the Manager believes will provide an income return. The Fund may invest in
investment grade bonds (meaning bonds with a rating of at least BBB- by Standard & Poor or equivalent rating by Moody’s or Fitch), or sub-investment grade bonds. The Manager selects bonds based upon analysis of an issuer’s financial status, quality of its management expected profitability and current value relative to other bonds in the 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.
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: OMR Schroder Global Cities Real Estate Fund
Closing Fund TER: 1.33%
Default Replacement Fund TER: 1.31%
Objective of Default Replacement Fund:
The Fund aims to provide income and capital growth in excess of inflation (as measured by the UK Consumer Price Index) plus 3% per annum (after fees have been deducted) over a 3 to 5 year period by investing in equity and equity related securities of real estate companies worldwide. The Fund is actively managed and invests at least 80% of its assets in equity and equity related securities of real estate companies worldwide which generate the majority of their earnings from real estate investment related activities. The Fund may invest in real estate investment trusts.
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 Schroder Global Cities Real Estate Fund from 31/05/2024, but please note these changes may not be visible until up to 2 weeks following this date.
Default Replacement Fund: OMR M&G Episode Allocation fund
Closing Fund TER: 1.22%
Default Replacement Fund TER: 0.87%
Objective of Default Replacement Fund:
The fund aims to deliver a total return (the combination of capital growth and income) of at least 5% per annum above the Sterling Overnight Index Average (SONIA), before any charges are taken, over any five-year period. The Fund is a multi-asset fund that invests across a range of asset classes, including equities, fixed income securities, convertibles, cash and near cash. Exposure to these assets may be gained either directly or indirectly via collective investment schemes or derivatives. The Fund may also invest indirectly via collective investment schemes or derivatives in other asset classes such as property and gold.
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 M&G Episode Allocation Fund from 31/05/2024, but please note these changes may not be visible until up to 2 weeks following this date.
We can confirm that we are expecting to receive a second 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.
