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Neptune fund closure details

1. Fund details  
Companies impacted Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Old Mutual International Guernsey Limited
Old Mutual Wealth Life Assurance Limited
Fund Group Neptune Investment Management
Fund Name Neptune India
Type of change Closure
Date fund closed to new business 24 June 2016
Deadline for investors to provide revised fund choice 27 July 2016
Date closure effective from 29 July 2016
Default fund if no revised fund choice provided Cash Deposit (ISA, ISA formerly PEP, CIA)
BlackRock Cash (CRA, CIB, OCIB)
OMW Deposit (Old Mutual Wealth Life Assurance Limited)
Is the event subject to FCA approval? No
2. Closure details  
Will the phasing/rebalancing options automatically continue with the new fund replacing the closing fund? No
3. Fund objective  
Current fund objective To generate capital growth from investment predominantly in Indian securities, or securities issued by companies transacting a significant proportion of their business in India.
4. Charging structure  
Bundled Fund  
Current AMC 1.75
Old Mutual Wealth (OMW) Fund  
Current TER 1.92

 

1. Fund details  
Companies impacted Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Old Mutual International Guernsey Limited
Fund Group Neptune Investment Management
Fund Name Neptune Latin America
Type of change Closure
Date fund closed to new business 24 June 2016
Deadline for investors to provide revised fund choice 27 July 2016
Date closure effective from 29 July 2016
Default fund if no revised fund choice provided Cash Deposit (ISA, ISA formerly PEP, CIA)
BlackRock Cash (CRA, CIB, OCIB)
Is the event subject to FCA approval? No
2. Closure details  
Will the phasing/rebalancing options automatically continue with the new fund replacing the closing fund? No
3. Fund objective  
Current fund objective To generate capital growth from investment predominantly in Latin American securities, or in the securities issued by companies transacting a significant proportion of their business in Latin America.
4. Charging structure  
Bundled Fund  
Current AMC 1.75
   

 

1. Fund details  
Companies impacted Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Old Mutual International Guernsey Limited
Fund Group Neptune Investment Management
Fund Name Neptune US Income
Type of change Closure
Date fund closed to new business 24 June 2016
Deadline for investors to provide revised fund choice 27 July 2016
Date closure effective from 29 July 2016
Default fund if no revised fund choice provided Cash Deposit (ISA, ISA formerly PEP, CIA)
BlackRock Cash (CRA, CIB, OCIB)
Is the event subject to FCA approval? No
2. Closure details  
Will the phasing/rebalancing options automatically continue with the new fund replacing the closing fund? No
3. Fund objective  
Current fund objective The fund aims to generate rising levels of income with the potential of capital growth by investing predominantly in a portfolio of North American securities, which may include Canada as well as the USA or overseas companies that derive a significant proportion of their profits or turnover from the USA and /or Canada, with a view to attaining consistent top quartile performance within the appropriate peer group.
4. Charging structure  
Bundled Fund  
Current AMC 1.75

 

1. Fund details  
Companies impacted Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Old Mutual International Guernsey Limited
Fund Group Neptune Investment Management
Fund Name Neptune Emerging Markets
Type of change Closure
Date fund closed to new business 24 June 2016
Deadline for investors to provide revised fund choice 27 July 2016
Date closure effective from 29 July 2016
Default fund if no revised fund choice provided Cash Deposit (ISA, ISA formerly PEP, CIA)
BlackRock Cash (CRA, CIB, OCIB)
Is the event subject to FCA approval? No
2. Closure details  
Will the phasing/rebalancing options automatically continue with the new fund replacing the closing fund? No
3. Fund objective  
Current fund objective To generate capital growth with the potential for Income by investing predominantly in emerging market securities or securities that derive a significant proportion of their income or economic activity from emerging market, with a view to attaining top quartile performance within the appropriate peer group.
4. Charging structure  
Bundled Fund  
Current AMC 1.75

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