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

Share

Old Mutual Cirilium Strategic Income & Old Mutual Cirilium Strategic Income -U Merger details

1. Fund details  
Companies impacted Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Old Mutual Wealth Life Assurance Limited
Fund Group Old Mutual Investment Management Limited
Fund Name Old Mutual Cirilium Strategic Income
Type of change Merger
Date merger effective from 26 September 2016
Deadline for investors to switch out if appropriate 20 September 2016
Is the event subject to shareholder approval? Approved
2. Merger details  
Name of the new fund (the fund that the previous fund is being merged into) Old Mutual Generation Target 3
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 provide an income in excess of the yield of the FTSE All Share Index and with the prospect for some capital growth.
New fund objective The fund aims to achieve an annual return of 3% above the UK rate of inflation over the medium term through a combination of the returns on income and capital by gaining exposure to a diversified range of asset classes.  Notwithstanding the fact that the fund aims to achieve an “annual” return over rolling 5 year periods, any capital is in fact at risk and there is no guarantee that such return will be guaranteed over that specific time period or within another time period.
4. Charging structure  
Bundled Fund  
Previous AMC 1.50%
New AMC 1.35%
Previous TER 1.99%
New TER 1.93%
Previous Reimbursed Amount (Charge Basis 2) 0.50%
New Reimbursed Amount(Charge Basis 2) 0.50%
Previous Reimbursed Rebate Rate(Charge Basis 3) 0.75%
New Reimbursed Rebate Rate (Charge Basis 3) 0.80%
Unbundled Fund  
Previous AMC 0.75%
New AMC 0.60%
Previous TER 1.24%
New TER 1.18%
Previous Reimbursed Rebate Rate(Charge Basis 3) 0.00%
New Reimbursed Rebate Rate (Charge Basis 3) 0.05%
Old Mutual Wealth (OMW) Fund  
Previous TER 1.48%
New TER 1.45%

Copy client correspondence

Fund KIIDs

Financial Adviser Verification