This site is for financial advisers only, Click here for the consumer site.

Share

F&C Merger details

1. Fund details  
Companies impacted Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Fund Group F&C Fund Management Ltd
Fund Name F&C UK Property
Type of change Merger
Date merger effective from 1 September 2015
Deadline for investors to switch out if appropriate 28 August 2015
Is the event subject to shareholder approval? Yes
Will the event result in a Charge Basis change for CIA and ISA clients on Charge Basis 1 or 2? No
2. Merger details  
Name of the new fund (the fund that the previous fund is being merged into) F&C 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? Yes
Will ongoing direct debit payments automatically be redirected into the new fund? Yes
3. Fund objectives  
Previous fund objective To maximise return combining capital and income through investment mainly in a diversified portfolio of UK commercial property, seeking to add value through strategic asset allocation, stock selection and asset management.
New fund objective To provide a return from capital appreciation and income over the longer term by investing all or substantially all of its capital in the feeder accumulation shares of the F&C UK Property Fund ICVC. To the extent the trust is not fully invested in the F&C UK Property Fund ICVC, the trust will hold its remaining assets in cash.
4. Charging structure  
Bundled Fund  
Previous AMC 1.50
New AMC 1.50
Previous TER 1.56 (Acc) / 2.05 (Inc)
New TER 1.61
Previous Reimbursed Amount (Charge Basis 2) 0.50
New Reimbursed Amount(Charge Basis 2) TBC
Previous Reimbursed Rebate Rate(Charge Basis 3) 0.87
New Reimbursed Rebate Rate (Charge Basis 3) TBC
Unbundled Fund  
Previous AMC 0.75
New AMC 0.75
Previous TER 0.81
New TER 0.86
Previous Reimbursed Rebate Rate(Charge Basis 3) 0.12
New Reimbursed Rebate Rate (Charge Basis 3) TBC
Old Mutual Wealth (OMW) Fund  
Previous TER N/A
New TER N/A

Copy Client Correspondence

Financial Adviser Verification