Old Share Class: A Inc
New Share Class: P Inc
Old Share Class: A Acc
New Share Class: P Acc
Old Share Class: A Acc
New Share Class: P Acc
Old Share Class: A Acc
New Share Class: P Acc
Old Share Class: A Acc
New Share Class: P Acc
New Share Class: Threadneedle Lux – European High Yield Bond 3G (GBP ACC)
Old TER: 0.97%
New TER: 0.79%
The OMR Fidelity Emerging Europe Middle East & Africa fund invests in the Fidelity Emerging Europe Middle East & Africa, managed by Fidelity International (the Fund Manager). We previously notified investors in the OMR fund that this was suspended to purchases/new business last year as a result of the Ukraine and Russia conflict.
The Fund Manager has now advised us that they plan to re-open the non-Russia linked underlying assets of the fund fully. In order to do this, they will be setting up a new share class called the Fidelity Sustainable Emerging Markets Equity Fund, which will hold the non-Russian linked liquid assets. For investors in the OMR Fidelity Emerging Europe Middle East & Africa fund currently, this will mean that the fund you hold will change name to the OMR Fidelity Sustainable Emerging Markets Equity fund on or shortly after 29/03/2023. Additionally, the fund will be made fully open to purchases and sales at the same time. There will be no customer switch reflected on plans as the result of this change in underlying asset.
Following the conversion date policyholders will not be able to buy or sell shares in the Russian linked illiquid assets, as Fidelity International will take the necessary steps to close the underlying fund and sell these remaining assets when possible. In the current environment it is not possible to estimate how long this process might take to complete, or what the eventual value might be. Given that the Fund Manager is unable to accurately reflect a value of these assets currently, plans will not show any value held within these assets following the changes above.
A further letter to the policyholders will be issued shortly explaining what this means for them and what their options are.
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%
