On the 1st May 2025 we were informed by Ninety One Fund Managers (UK) that the Ninety One Multi-Asset Protector Fund would be merged with the Ninety One Diversified Income Fund on the 16th May 2025. As a result there will be a change to the fund customers currently hold.
Default replacement fund: OMR Ninety One Diversified Income Fund
Closing Fund IMC: 1.32%
Default Replacement Fund IMC: 0.94%
Objective of Default Replacement Fund:
The Fund aims to provide income with the opportunity for capital growth (to grow the value of your investment) over at least five years. The Fund seeks to limit volatility (the pace or amount of change in its value) to lower than 50% of that of shares of UK companies (measured using the FTSE All Share Index). The Fund invests in a broad range of assets around the world. These assets include bonds (or similar debt-based assets), shares of companies, listed property securities (such as real estate investment trusts) and other alternative assets (such as investment trusts in infrastructure). Investments may be held directly in the asset itself (excluding commodities and property) or indirectly (e.g. using derivatives (financial contracts whose value is linked to the price of an underlying asset), exchange traded products and/or funds). 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 16/05/2025, but these changes may not be visible until up to 2 weeks following this date.
We can confirm that we are expecting to receive a Fifth 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.
Default Replacement Fund: OMR AXA Framlington Global Thematics Fund
Closing Fund TER: 1.19%
Default Replacement Fund TER: 1.18%
Objective of Default Replacement Fund:
The aim of this Fund is to provide long-term capital growth over a period of 5 years or more. The Fund invests in shares of listed companies which are based anywhere in the world (including countries which the Manager considers to be emerging markets) and which the Manager believes will provide above-average returns. The Fund invests principally (meaning at least 80% of its assets) in large and medium-sized companies. The Manager selects shares based upon analysis of a company’s financial status, quality of its management, expected profitability and prospects for growth taking into account the company’s exposure to long-term themes influencing the global economy. The Manager has full discretion to select investments for the Fund in line with the above investment policy and in doing so may take into consideration the MSCI All Country World 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.
The merging fund will be suspended from 23/01/2025. Customers will be invested in the new fund from 24/01/2025, however their switches will not process until at least a week following the conversion.
Default Replacement Fund: AXA Framlington Global Thematics Fund
Closing Fund TER: 1.55%
Default Replacement Fund TER: 1.56%
Objective of Default Replacement Fund:
The aim of this Fund is to provide long-term capital growth over a period of 5 years or more. The Fund invests in shares of listed companies which are based anywhere in the world (including countries which the Manager considers to be emerging markets) and which the Manager believes will provide above-average returns. The Fund invests principally (meaning at least 80% of its assets) in large and medium-sized companies. The Manager selects shares based upon analysis of a company’s financial status, quality of its management, expected profitability and prospects for growth taking into account the company’s exposure to long-term themes influencing the global economy. The Manager has full discretion to select investments for the Fund in line with the above investment policy and in doing so may take into consideration the MSCI All Country World 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.
The merging fund will be suspended from 23/01/2025. Customers will be invested in the new fund from 24/01/2025, however their switches will not process until at least a week following the conversion.
The Fund Manager Aegon Asset Management has advised that they are closing the fund to all purchases with immediate effect whilst they complete the process of closing the fund. The decision to close the fund has been taken due to fund size having not grown as anticipated since the launch. The fund is still open for redemptions, so customers are still able to withdraw and switch out of the fund until valuation point 28/01/2025.
The fund will close on 31/01/2025. We will provide an update to customers invested shortly explaining what this means for them and what their options are.
We are expecting to receive a fourth 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.
We can confirm that we are expecting to receive a third 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.
Default Replacement Fund: OMR Nordea Swedish Bond Fund
Closing Fund TER: 0.71%
Default Replacement Fund TER: 0.87%
Objective of Default Replacement Fund:
The objective of the fund is to provide shareholders with investment growth in the medium to long term. The fund mainly invests in Swedish bonds. Specifically, the fund invests at least two thirds of total assets in debt securities that are issued by public authorities, or by companies that are domiciled or conduct the majority of their business in Sweden. The fund’s main currency exposure is to the base currency, although it may also be exposed (through investments or cash) to other currencies.
In actively managing the fund’s portfolio, the management team selects securities that appear to offer superior investment opportunities. The fund considers principal adverse impacts on sustainability factors. The fund partly invests in sustainable investments. The fund promotes environmental and/or social characteristics. 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.
Please note that the merging fund will be suspended from 05/09/2024.
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.
