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IWI Merger details

Merging Fund

Receiving Fund

IWI Balanced Portfolio

City Financial Multi-Asset Balanced

IWI Balanced Portfolio -U

City Financial Multi-Asset Balanced –U

IWI Cautious Portfolio

City Financial Multi-Asset Balanced

IWI Cautious Portfolio -U

City Financial Multi-Asset Balanced –U

IWI Global Thematic Portfolio

City Financial Multi-Asset Dynamic

IWI Global Thematic Portfolio -U

City Financial Multi-Asset Dynamic –U

IWI Growth Portfolio

City Financial Multi-Asset Dynamic

IWI Growth Portfolio -U

City Financial Multi-Asset Dynamic –U



1. Fund details        
Companies impacted Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Old Mutual International Guernsey Limited
Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Old Mutual International Guernsey Limited
Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Old Mutual International Guernsey Limited
Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Old Mutual International Guernsey Limited
Fund Group IWI Fund Management Limited IWI Fund Management Limited IWI Fund Management Limited IWI Fund Management Limited
Fund Name IWI Balanced Portfolio IWI Cautious Portfolio IWI Global Thematic Portfolio IWI Growth Portfolio
Type of change Merger Merger Merger Merger
Date merger effective from 1 February 2016 1 February 2016 1 February 2016 1 February 2016
Deadline for investors to switch out if appropriate 28 January 2016 28 January 2016 28 January 2016 28 January 2016
Is the event subject to shareholder approval? Approved Approved Approved Approved
2. Merger details        
Name of the new fund (the fund that the previous fund is being merged into) City Financial Multi Asset Balanced City Financial Multi Asset Balanced City Financial Multi Asset Dynamic City Financial Multi Asset Dynamic
Will the phasing option automatically continue with the new fund replacing the previous fund? Yes Yes Yes Yes
Will the rebalancing option automatically continue with the new fund replacing the previous fund? Yes Yes Yes Yes
Will ongoing direct debit payments automatically be redirected into the new fund? Yes Yes Yes Yes
3. Fund objectives        
Previous fund objective To provide a return in the form of both income and capital appreciation by investing in a diversified portfolio of primarily unit trusts, OEICs, exchange traded funds and other collective investment vehicles, including investment trusts and permitted investment companies. To achieve long-term returns, by a combination of capital growth and income generation, without the level of risk generally associated with a fully equity-based portfolio. The fund invests in a diversified portfolio of primarily unit trusts, OEICs, exchange traded funds and other collective investment vehicles, including investment trusts and permitted investment companies. To achieve long-term capital growth from a managed portfolio of international investment funds. The fund invests in a diversified portfolio of primarily unit trusts, OEICs, exchange traded funds and other collective investment vehicles, including investment trusts and permitted investment companies. To achieve capital appreciation. The fund will not be managed to generate any distributable income. The fund invests in a diversified portfolio of primarily unit trusts, OEICs, exchange traded funds and other collective investment vehicles, including investment trusts and permitted investment companies.
New fund objective To achieve consistent long term returns
from both capital and income by investing
across a balanced global portfolio of assets. The investment manager uses a global asset allocation framework to invest across a balanced range of asset classes, geographies, sectors and
investment styles. The portfolio invests in a combination of specialist funds, ETFs, listed investment vehicles, individual securities and cash, and uses derivatives for hedging and investment purposes to both reduce market risk and enhance returns.
To achieve consistent long term returns
from both capital and income by investing
across a balanced global portfolio of assets. The investment manager uses a global asset allocation framework to invest across a balanced range of asset classes, geographies, sectors and
investment styles. The portfolio invests in a combination of specialist funds, ETFs, listed investment vehicles, individual securities and cash, and uses derivatives for hedging and investment purposes to both reduce market risk and enhance returns.
To achieve consistent long term returns from both capital and income by dynamically investing across a global portfolio of assets. The Investment Manager uses a global asset allocation framework to dynamically invest across a range of asset classes, geographies, sectors and investment styles. The portfolio invests in a combination of specialist funds, ETFs, listed investment vehicles, individual securities and cash, and uses derivatives for hedging and investment purposes to both reduce market risk and enhance returns. To achieve consistent long term returns from both capital and income by dynamically investing across a global portfolio of assets. The Investment Manager uses a global asset allocation framework to dynamically invest across a range of asset classes, geographies, sectors and investment styles. The portfolio invests in a combination of specialist funds, ETFs, listed investment vehicles, individual securities and cash, and uses derivatives for hedging and investment purposes to both reduce market risk and enhance returns.
4. Charging structure        
Bundled Fund        
Previous AMC 1.50% 1.50% 1.50% 1.50%
New AMC 1.50% 1.50% 1.50% 1.50%
Previous TER 2.60% 2.37% 3.32% 2.59%
New TER 2.33% 2.33% 2.44% 2.44%
Previous Reimbursed Amount (Charge Basis 2) 0.50% 0.50% 0.50% 0.50%
New Reimbursed Amount(Charge Basis 2) TBC TBC TBC TBC
Previous Reimbursed Rebate Rate(Charge Basis 3) 0.75% 0.75% 0.75% 0.75%
New Reimbursed Rebate Rate (Charge Basis 3) TBC TBC TBC TBC
Unbundled Fund        
Previous AMC 0.75% 0.75% 0.75% 0.75%
New AMC 0.75% 0.75% 0.75% 0.75%
Previous TER 1.85% 1.62% 2.58% 1.84%
New TER 1.42% 1.42% 1.53% 1.53%
Previous Reimbursed Rebate Rate(Charge Basis 3) 0.00% 0.00% 0.00% 0.00%
New Reimbursed Rebate Rate (Charge Basis 3) TBC TBC TBC TBC
Old Mutual Wealth (OMW) Fund        
Previous TER N/A N/A N/A N/A
New TER N/A N/A N/A N/A

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