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Aviva Investors Property Trust Merger 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
Professional Life Assurance Company Limited
Fund Group Aviva Investors
Fund Name Aviva Investors Property Trust
Type of change Merger
Date merger effective from 18 July 2016
Deadline for investors to switch out if appropriate 14 July 2016
Is the event subject to shareholder approval? No
2. Merger details  
Name of the new fund (the fund that the previous fund is being merged into) Aviva Investors UK Property Feeder
Will the phasing option automatically continue with the new fund replacing the previous fund? Yes
Will the rebalancing option automatically continue with the new fund replacing the previous fund? Rebalancing will not happen in July. Rebalancing will be redirected into the continuing fund from August onwards.
Will ongoing direct debit payments automatically be redirected into the new fund? Direct Debits due on 20 July 2016 will be redirected to Cash. Direct Debits due after 20 July will be redirected into the continuing fund.
3. Fund objectives  
Previous fund objective To obtain optimum returns compatible with security via income and capital appreciation primarily through investment in certain kinds of real property, property related securities, government and other public securities and units in collective investment schemes.
New fund objective To obtain returns via income and capital appreciation by investing solely in the Aviva Investors UK Property Fund with the exception of cash balances which may also be held for the purposes of maintaining sufficient liquidity to enable the funds to meet their commitments, such as expenses and redemptions.
4. Charging structure  
Bundled Fund  
Previous AMC 1.25%
New AMC 1.25%
Previous TER 2.05% (including 0.68% Property Expense Ratio)
New TER 2.05% (including 0.68% Property Expense Ratio)
Previous Reimbursed Amount (Charge Basis 2) 0.35%
New Reimbursed Amount(Charge Basis 2) 0.35%
Previous Reimbursed Rebate Rate(Charge Basis 3) 0.63%
New Reimbursed Rebate Rate (Charge Basis 3) 0.63%
Unbundled Fund  
Previous AMC 0.62%
New AMC 0.62%
Previous TER 1.42% (including 0.68% Property Expense Ratio)
New TER 1.42% (including 0.68% Property Expense Ratio)
Previous Reimbursed Rebate Rate(Charge Basis 3) 0.00%
New Reimbursed Rebate Rate (Charge Basis 3) 0.00%
Old Mutual Wealth (OMW) Fund  
Previous TER 1.69%
New TER 1.69%

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