Following full withdrawal of UK customers from OMR Carnegie Strategifond Fund we will be closing this fund with effect from 01/09/2023.
No investments in the Fund will be permitted from this date for UK customers.
On 15th August 2023, Liontrust announced a proposal to merge underlying Liontrust China Fund Fund with another one of their funds – Liontrust Emerging Markets Fund. This is due to be voted on at Extraordinary General Meeting scheduled for 01/09/2023. If the Extraordinary Resolution is passed., the merging fund will be suspended from 04/09/2023 and the merger will become effective on 08/09/2023. The decision to merge the fund has been taken by Liontrust due the size of the merging fund which has reduced to a level which is uneconomical to run as standalone entity.
We don’t feel the above replacement fund would offer the same investment characteristics as investing specifically in Chinese assets. A significant proportion of the replacement fund that Liontrust chose is invested in assets listed on other emerging markets, which we feel contradicts the strategy of the closing fund.
We feel the First State Greater China Growth fund is a better choice for our customers as it retains those investment characteristics.
Therefore, if the merger resolution is passed, customers will be invested in the OMR First State Greater China Growth from 04/09/2023, however our systems may not show this change until at least a week following the conversion.
We will provide an update to customers invested shortly explaining what this means for them and what their options are.
Following notification from the manager of the underlying fund, the OMR QI Equity 2 will be closed to new business and switches in from 31 August 2023.
Existing investors in the Fund with regular premiums set up will be able to continue, however new investments in the Fund will no longer be permitted from this date.
New objective:
The Fund has three aims:
– To deliver an income stream that increases every year.
– To deliver a yield above that available from the MSCI ACWI Index over any fiveyear period.
– To deliver a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than that of the MSCI ACWI Index over any five year period.
New objective:
The Fund has three aims:
– To deliver an income stream that increases every year.
– To deliver a yield above that available from the MSCI ACWI Index over any fiveyear period.
– To deliver a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than that of the MSCI ACWI Index over any five year period.
New objective:
The Fund has three aims:
– To deliver an income stream that increases every year.
– To deliver a yield above that available from the MSCI ACWI Index over any fiveyear period.
– To deliver a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than that of the MSCI ACWI Index over any five year period.
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 provide:
– a growing level of income over any three year period; and
– capital growth of 2-4% per annum, net of the Ongoing Charge Figure, over any three year period.
There is no guarantee that the Fund will achieve its objective over this, or any other, period. The income distributions and the value of your investment may rise and fall and investors may not recoup the original amount they invested. 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 AXA ACT Framlington Clean Economy Fund
New name: AXA ACT Framlington Clean Economy Fund
New objective:
The Sub-Fund seeks to deliver positive returns on an annual basis after fees. The Sub-Fund aims to deliver returns before fees within a range of cash (SONIA (90-day compounded)) on a rolling 12-month basis and cash (SONIA (90-day compounded)) + 4% per annum on a rolling annualised five year basis. However a positive return is not guaranteed and a capital loss may occur.
The policy of the sub-Fund is to gain exposure through a dynamic allocation strategy to a range of asset classes including cash, near cash and deposits, fixed interest securities, equities, property, commodities and infrastructure. Exposure to these assets will be achieved through investment in transferable securities, derivatives, money market instruments, deposits, and collective investment schemes. Investment in property, commodities and infrastructure will be indirect. The Sub-Fund may also use derivatives to obtain long and short exposures. Subject to FCA Regulations, the relative exposure between these asset classes will be actively managed and will be varied as deemed necessary in order to achieve the investment objective, which may result in the Sub-Fund having no exposure to particular asset classes.
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.
