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Objective and policy changes

Name Description Fund Range Effective Date
Carmignac Portfolio Euro Patrimoine GBP Hgd –U Objective Change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 26 Mar 2018
Current objective

To outperform its reference indicator, which comprises 50% Euro Stoxx 50 NR (EUR) Index and 50% EONIA Capitalization Index 7 D over a recommended investment period of at least 3 years, by investing in the equity markets of the European Union, Iceland and Norway, and other equity securities worldwide covering all sectors, bonds and money market instruments.

 

New objective

To outperform its reference indicator, comprising of 85% EONIA Capitalization Index 7 D and 15% Stoxx Europe 600 NR (EUR) Index, by building up a portfolio of both long and short positions on financial instruments eligible to the fund’s net assets.

The fund will invest at least 50% of its net assets in equities of small, mid and large capitalisation companies of the European Union, Switzerland, Iceland and Norway. Up to 50% of the fund’s net assets may also be invested in debt securities and money market instruments traded on European or foreign markets.

Exclamation
Please note: the fund is also changing its Name and Performance Related Fee.
M&G Short Dated Corporate Bond (-U) Objective Change and AMC Decrease Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual International Guernsey Limited 13 Mar 2018
Current objective

To provide income with stability of capital over a rolling three to five year period. There is no guarantee that the fund will achieve its objective over this, or any other period. The income distributions and the value of your investment may rise and fall and investors may not recoup the original amount they invested.

New objective

To provide a total return (the combination of capital growth and income). At least 80% of the fund is invested in investment grade corporate bonds (including variable rate securities and fixed income securities).

Exclamation
Please note: The objective change is subject to shareholder approval. The shareholder meeting is scheduled for Tuesday 27 February 2018. The AMC of the funds will also change.
Castlefield UK Opportunities (-U) Name & Objective Changes Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 01 Feb 2018

Current Objective 

To invest primarily for long-term capital growth from a portfolio of investments by actively investing in those companies, primarily within the UK, where the manager believes there are above-average opportunities for growth.


New Objective

To invest primarily for long-term capital growth from a portfolio of investments by actively investing in those companies, primarily within the UK, where the manager believes there are above-average opportunities for growth.

In seeking to achieve the stated investment objective, the Investment Adviser uses a responsible investment research process to identify the universe of securities from which the fund may invest.  The four criteria that need to be evidenced by each investment are reflected in the name of the fund where 'B.E.S.T' indicates Business & financial, Environmental & ecological, Social and Transparency & governance, however equal weighting may not be given to each element of these criteria when screening potential investments.

Current Name

Castlefield UK Opportunities (-U)


New Name

Castlefield B.E.S.T UK Opportunities (-U)

Castlefield UK Smaller Companies (-U) Name & Objective Changes Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 01 Feb 2018

Current Objective 

To achieve long-term capital growth by investing predominantly in the shares of quoted smaller UK companies including those listed on the Alternative Investment Market.


New Objective

To achieve long-term capital growth by investing predominantly in the shares of quoted smaller UK companies including those listed on the Alternative Investment Market.

In seeking to achieve the stated investment objective, the Investment Adviser uses a responsible investment research process to identify the universe of securities from which the fund may invest.  The four criteria that need to be evidenced by each investment are reflected in the name of the fund where 'B.E.S.T' indicates Business & financial, Environmental & ecological, Social and Transparency & governance, however equal weighting may not be given to each element of these criteria when screening potential investments. The Investment Adviser then supplements this research process by selecting only those investments which, by their nature, are considered to be sustainable in order to meet the investment objective. Sustainable activities are considered to be those necessary to ensure the long term continuity of an activity, system, society or enterprise.

Current Name

Castlefield UK Smaller Companies (-U)


New Name

Castlefield B.E.S.T Sustainable UK Smaller Companies (-U)

M&G Smaller Companies Objective change Old Mutual Wealth Limited, Old Mutual International Guernsey Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Life Assurance Limited 30 Jan 2018
Baillie Gifford American (-U) Objective change Old Mutual Wealth Limited, Old Mutual International Guernsey Limited and Old Mutual Wealth Life & Pensions Limited 02 Jan 2018
Current objective

To produce attractive returns over the long term principally through investment, whether direct or indirect, in any economic sector in the United States of America. From time to time, at the Authorised Corporate Director’s (ACD) sole discretion, investment, whether direct or indirect, may also be made in any economic sector in Canada.

New objective

To produce capital growth over the long term principally through investment in equities of companies which are listed, quoted, traded, incorporated, domiciled or conducting a significant portion of their business in the United States of America. Such investment may be direct or indirect and the portfolio will be concentrated.

JPM Unconstrained Bond (-U) Name and objective change Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Limited, Old Mutual International Guernsey Limited and Old Mutual Wealth Life & Pensions Limited 18 Dec 2017
Exclamation
Please note: the fund is also changing its name.
Janus Henderson (Various) Name and objective change Old Mutual Wealth Limited, Old Mutual International Guernsey Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Life Assurance Limited 15 Dec 2017
Exclamation
Please note: the fund names will also change.
BlackRock GF Asian Growth Leaders Investment policy change - Widening of Investment Powers Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 08 Dec 2017
Exclamation
Please note: the objective of this fund will not be changing.
BlackRock GF European Equity Income GBP Hdg Investment Policy Change - Widening of Investment Powers Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Limited 08 Dec 2017
Exclamation
Please note: the objective of this fund will not be changing.
M&G Global Basics (Various) Name & Objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited, Old Mutual Wealth Life Assurance Limited and Old Mutual International Guernsey Limited 17 Nov 2017
Old Mutual US Dividend (Various) Old Mutual Wealth Life Assurance Limited, Old Mutual International Guernsey Limited, Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 14 Nov 2017
Current Objective

To seek to achieve asset growth through investment in a diversified portfolio of equity and equity-related securities of issuers in the US emphasising larger companies which have dividend characteristics and which appear to be undervalued relative to their market value.

New Objective

To seek to achieve asset growth through investment in a diversified portfolio of equity and equity-related securities.

Exclamation
Please note: this is also a name change
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Rathbone Recovery (-U) Objective change Old Mutual Wealth Limited 23 Oct 2017
Old objective

To achieve capital growth by buying shares in companies whose recovery potential is not appreciated by the market and to sell them when this potential is recognised. The nature of unrecognised recovery potential may be based on macro economic, industry, sector specific or stock specific issues.

New objective

To achieve capital growth by buying shares in companies whose potential is not appreciated by the market and to sell them when this potential is recognised. The nature of unrecognised potential may be macro, industry, sector or stock specific.

Exclamation
Please note: this fund is also changing its name and AMC.
JPM Asia (-U) Name & Objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual International Guernsey 29 Sep 2017

Current Name 

JPM Asia
JPM Asia -U

Current Objective  

To provide long-term capital growth from investment primarily in the securities of companies quoted or trading in Asia (excluding Japan).

New Name 

JPM Asia Growth
JPM Asia Growth -U

New Objective  

To provide long-term capital growth from investment primarily in a growth biased portfolio of companies in Asia (excluding Japan). 

TM Cavendish Worldwide -U Name & Objective change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 18 Sep 2017

Current Name

TM Cavendish Worldwide -U

Current Objective

To achieve long-term capital growth. The Fund shall invest mainly in equity securities of companies listed on stock exchanges anywhere in the world, that the fund manager determines offer good growth prospects and/or offer reasonable value in the medium term to long term. There will be no restrictions on the countries or industrial sectors invested in.

New Name

TM Cavendish International -U

New Objective

To achieve long-term capital growth. The Fund shall invest mainly in equity securities of companies listed on stock exchanges anywhere in the world. There will be no restrictions on the countries, regions or industrial sectors in which invested. Equally there will be no presumption or expectation that the Fund will maintain asset allocation across all countries, regions or industrial sectors on an ongoing basis. The Fund will be free to invest globally, but there may be a bias towards one or more countries, regions or industrial sectors to the exclusion of other countries, regions or industrial sectors.

Old Mutual Global Bond Name and Objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited, Old Mutual Wealth Life Assurance Limited & Old Mutual International Guernsey Limited 22 Aug 2017

Current fund name

OMW Old Mutual Global Bond
Old Mutual Global Bond
Old Mutual Global Bond –U2

Current objective

To seek to achieve asset growth through worldwide investment in a well-diversified portfolio of fixed and variable rate debt securities.

New fund name

OMW Old Mutual Global Strategic Bond (IRL)
Old Mutual Global Strategic Bond (IRL)
Old Mutual Global Strategic Bond (IRL) –U2

New objective

To seek to achieve total return through worldwide investment primarily in a diversified portfolio of fixed and variable rate debt securities.

Investec Managed Growth -U Name and Objective change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 07 Jul 2017

Current Name 

Investec Managed Growth -U

Current Objective

To achieve a combination of income and capital growth primarily through investment in the shares of investment companies and other collective investment schemes and in derivatives, the underlying assets of which are shares of investment companies and other collective investment schemes.

New Name 

Investec Global Multi-Asset Total Return -U

New Objective

To achieve long-term returns comprised of income and capital growth primarily through investment in a diversified portfolio of global assets and related derivatives. These assets may include, but are not limited to, equities, fixed interest instruments, commodities, property and other alternative assets (such as hedge funds, infrastructure funds and private equity funds). 

Old Mutual Spectrum 3, 4, 6 & 7 Name, objective and Annual Management Charge change Old Mutual Wealth Limited, Old Mutual Life Assurance Limited, Old Mutual Life & Pensions Limited and Old Mutual Internaitonal Guernsey Limited 01 Jul 2017
M&G funds (Various) Objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited, Old Mutual Wealth Life Assurance Limited and Old Mutual International Guernsey Limited 26 Jun 2017
Exclamation
Please Note: the proposed changes to the fund objective of the M&G Smaller Companies fund has now been withdrawn and will no longer go ahead. Please ignore previous correspondence.
BlackRock Balanced Growth Portfolio Objective Change Old Mutual Wealth Limited, Old Mutual Life Assurance Limited, Old Mutual Life & Pensions Limited and Old Mutual International Guernsey Limted 12 Jun 2017

Current Objective:

To achieve capital growth with the opportunity for additional income generation depending on market conditions.  Investment may be made in a global portfolio of equities and fixed income securities, as well as collective investment schemes, cash in sterling or other currencies (in the form of deposits and / or forward contracts) and money market instruments. Investment may be made in any and all economic sectors, although under normal market conditions there will be an emphasis on the UK.

New Objective:

To achieve capital growth with the opportunity for additional income generation depending on market conditions.  Investment may be made in a global portfolio of equities and fixed income securities, as well as collective investment schemes, cash in sterling or other currencies (in the form of deposits and / or forward contracts) and money market instruments. Investment may be made in any and all economic sectors.

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