We’re updating customers on a change to some of the replacement funds previously communicated in relation to the Aviva Investors UK Property Feeder payments. We will not use the Deposit fund or abrdn Real Estate fund previously communicated for the OMR funds.
The replacement funds will be as follows:
• OMR Aviva UK Property Feeder → OMR L&G Property Feeder
• OMR Prof Aviva UK Property Feeder → OMR Prof L&G Property Feeder
• Aviva Investors UK Property Feeder (Life & Pension) → L&G Property Feeder.
Any forthcoming payment received from Aviva will be added to customers’ plans using the replacement funds above. No action is required. Customers will receive a letter once units have been added to their plans. This will then close the above Aviva Funds.
New Fund Objective:
The Fund aims to achieve a combination of income and capital growth and to outperform the Bloomberg Multiverse ex Treasuries A+ to B- GBP Hedged Index, net of charges, over rolling five-year periods.
The Fund invests at least 80% of the value of its property in a diversified range of Sterling-denominated (or hedged back to Sterling) investment grade and subinvestment grade debt securities issued by companies, banks, public entities and governments located in developed and emerging markets anywhere in the world. Investment may be direct or indirect (e.g. through collective investment schemes or derivatives). The Fund may hold up to 20% in contingent convertible bonds (CoCos).
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.
Old TER: 0.80%
New TER: 0.69%
Old TER: 1.24%
New TER: 0.92%
Old TER: 0.11%
New TER: 0.12%
Old TER: 0.11%
New TER: 0.12%
Old TER: 0.11%
New TER: 0.12%
Old TER: 0.11%
New TER: 0.12%
Old TER: 0.11%
New TER: 0.12%
Default Replacement Fund: OMR Emerging Market Debt Unconstrained
Closing Fund TER: 1.26%
Default Replacement Fund TER: 0.37%
Objective of Default Replacement Fund: The OMR Emerging Market Debt Unconstrained invests in the PUTM Bothwell Emerging Market Debt Unconstrained Fund (the ‘Fund’) which aims to provide returns from capital appreciation and foreign currency movements by outperforming the benchmark (before fees) by 1.5% to 2.5% per annum over any given 3 year period. The benchmark is 50% JPM EMBI Global Diversified (US$) (EMD) and 50% JPM GBI-EM Global Diversified (US$) (EM LC D) (the “Composite 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. Customers will be invested in the new fund from 19/01/2025, but these changes may not be visible until up to two weeks following this date.
