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Objective and policy changes

Name Description Fund Range Effective Date
BlackRock Fixed Income Global Opportunities (-U) Investment Policy Change - Widening of Investment Powers Old Mutual Wealth Limited, Old Mutual International Guernsey Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Life Assurance Limited 30 May 2018
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Please note: the change is subject to shareholder approval. The shareholder meeting is scheduled for Wednesday 28 March 2018.
M&G European Smaller Companies (-U) Name and objective change Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual International Guernsey Limited 25 May 2018
Current objective

To achieve long term capital growth by investment in smaller companies in Europe. It will invest wholly or mainly in securities of European companies which constitute the bottom third in terms of total market capitalisation of all publicly listed equity in Europe. When not wholly invested as above, the fund may only invest in medium and larger capitalised companies in order to enhance the liquidity of the fund.

New objective

To provide a higher total return (the combination of capital growth and income) than that of the EMIX Smaller European Companies Index, net of the Ongoing Charges Figure, over any five-year period. The Fund will invest at least 80% in the equities of European smaller companies, from the bottom third (by total market capitalisation) of all publicly listed equities in Europe including the UK.

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Please note: the fund is also changing name.
Schroder Strategic Credit (-U2) Objective change Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual International Guernsey Limited 25 May 2018
AXA Framlington Global Opportunities (-U) Name and investment policy change Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual International Guernsey Limited 14 May 2018
Current investment policy

The Fund invests in shares of listed companies which are based anywhere in the world (including countries which the Manager considers to be emerging markets) and which the Manager believes will provide above-average returns. The Fund invests principally in large and medium-sized companies. The Manager selects shares based upon analysis of a company’s financial status, quality of its management, expected profitability and prospects for growth.

New investment policy

The Fund invests in shares of listed companies which are based anywhere in the world (including countries which the Manager considers to be emerging markets) and which the Manager believes will provide above average returns. The Fund invests principally in large and medium-sized companies. The Manager selects shares based upon analysis of a company’s financial status, quality of its management, expected profitability and prospects for growth, taking into account the company’s exposure to long-term themes influencing the global economy.

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Please note: the funds are also changing name.
Baillie Gifford Corporate Bond (-U) Name and objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual International Guernsey Limited 01 May 2018
Current objective

To produce a high level of monthly income by investing primarily in a diversified portfolio of investment grade and sub-investment grade fixed interest securities denominated in sterling or denominated in currencies other than sterling and hedged back to sterling.

New objective

To produce monthly income through active management of bond selection and strategic asset allocation. The fund will invest primarily in a diversified portfolio of fixed interest securities denominated in sterling or denominated in currencies other than sterling and hedged back to sterling. Such securities include investment grade and sub-investment grade bonds issued by companies worldwide. Subject to prevailing market conditions, potential capital growth is also sought. 

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Please note: the fund is also changing name.
OMW Distribution (SDB) Objective Change Old Mutual Wealth Life Assurance Limited 27 Apr 2018
Current objective

The OMW Distribution Fund aims to outperform the median fund in the Distribution Funds Sector over the medium to long term. It invests in a well-diversified portfolio with a long term asset allocation of global equities, fixed interest securities, property and cash, with a bias towards the UK. The Fund makes quarterly distributions of income on 17 February, May, August and November each year.

OMW has appointed specialist managers to manage assets in each market and continuously monitors these appointments. Investment may be made through collective investment schemes or through directly invested portfolios.

New objective

The OMW Distribution (SDB) Fund aims to achieve an annual return of 4% 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, there is no guarantee that such return will be guaranteed over that time period or within another time period. The Fund makes quarterly distributions of income on 17 February, May, August and November each year.

 

OMW has appointed specialist managers to manage assets in each market and continuously monitors these appointments. Investment may be made through collective investment schemes or through directly invested portfolios.

JPM Portfolio (-U) Name, Objective and Annual Management Charge change. Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual International Guernsey Limited 13 Apr 2018
Old objective

To invest in a portfolio of regulated collective investment schemes operated or managed by JPMorgan. The fund aims to provide capital growth over the long term.

New objective

To provide long term capital growth by investing in a diversified mix of asset classes. As a result of its diversified portfolio, the fund is expected to have a lower level of volatility than equity markets as represented by the MSCI World Index. The fund may invest either directly or via collective investment schemes, which may be managed by the Investment Adviser or any other member of JPMorgan Chase and Co.

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Please note: The name and Annual Management Charge of the funds will also be changing. The changes are subject to shareholder approval.
Allianz Total Return Asian Equity (–U) Objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual International Guernsey Limited 11 Apr 2018
Current objective

To maximise total return through dividend yield and capital appreciation by investing in high yielding or undervalued securities of companies in Asia, excluding Japan.

New objective

To maximise total return through long-term capital growth and income by investing in the equity markets of Asian countries excluding Japan. Up to 30% of the fund’s assets may be invested into the Chinese A-Shares market either directly via Stock Connect or indirectly through all eligible instruments as set out in the fund’s investment policy.

 

BlackRock Fund Managers Limited (Various) Investment Policy Changes - Widening of Investment Powers Old Mutual Wealth Limited, Old Mutual International Guernsey Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Life Assurance Limited 06 Apr 2018
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Please note: this event has received shareholder approval.
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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.

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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).

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Please note: 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
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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
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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
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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
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