The Fund Manager (Columbia Threadneedle) has advised that they have suspended the underlying fund that is held by the OMR CT (Threadneedle) UK Property Auth Trust. As a result, we have suspended the OMR fund until further notice.
The suspension has been put in place on the underlying holding due to the level of cash in the Fund reducing to a level where future redemption requests would not be able to be met until an orderly sale of assets has completed. There has been no indication when the suspension will be lifted.
We will shortly be issuing a letter to all investors in the fund providing further information about the action we have taken and how this suspension will impact them.
New Fund Objective: The Fund Manager seeks to grow the Fund (through increases in investment value and income) in real terms over a rolling 5-year period after deducting fees and costs. To grow in real terms, the Fund must increase in value after outperforming the rate of inflation. We measure inflation using the Consumer Prices Index (CPI). There is no guarantee that the Fund will grow in real terms over 5-year rolling periods, or over any period, and there is a risk of loss. 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 FTF Martin Currie UK Equity Income
New Fund Objective: The Fund aims to provide capital growth over the long term (5 years or more) by investing in companies whose products and services are considered by the Investment Manager as contributing to positive environmental or social change and thereby have an impact on the development of a sustainable global economy. 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 Premier Monthly Income
Closing Fund TER: 1.16%
Default Replacement Fund TER: 1.19%
Objective of Default Replacement Fund: The objective of the fund is to provide an income together with capital growth over the long term, being five years or more. Five years is also the minimum recommended term for holding shares in this fund. This does not mean that the fund will achieve the objective over this, or any other, specific time period and there is a risk of loss to the original capital invested.
Default Replacement Fund: L&G Mixed Investment 0-35% Fund
Closing Fund TER: 0.09%
Default Replacement Fund TER: 0.07%
Objective of Default Replacement Fund: The aim of the fund is to provide growth. The Fund aims to achieve capital growth in excess of the Bank of England base interest rate per annum, the “Benchmark”, before deduction of any charges over rolling three year periods. There is no guarantee that the manager will outperform the Benchmark in any period and capital invested in the Fund is at risk.
New Share Class: W Accumulation
Old TER: 1.02%
New TER: 1.02%
New Name: OMR FTF Martin Currie Global Unconstrained
New Share Class: W Accumulation
Old TER: 0.99%
New TER: 0.99%
New Share Class: W Accumulation
Old TER: 1.07%
New TER: 1.07%
New Share Class: W Accumulation
Old TER: 0.96%
New TER: 0.96%
