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Objective and policy changes

Name Description Fund Range Effective Date
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
Rathbone Recovery Objective change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions 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.
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.

Old Mutual Threadneedle American Select Name and Objective Change Old Mutual Life Assurance Limited 08 Jun 2017

Current Fund Name

OMW Old Mutual Threadneedle American Select

Current Objective

To achieve capital growth by investing the assets of the Fund in companies domiciled in North America or which have significant North American operations. These include smaller and emerging growth companies, those with potential for merger or takeover, those with new management recovery situations and exploration companies.

New Fund Name

OMW Old Mutual JPM US Growth Advantage

New Objective

To achieve capital growth by investing primarily in shares of US companies. US companies are companies that are incorporated under the laws of, and have their registered office in, the US, or that derive the predominant part of their economic activity from the US, even if listed elsewhere. The Fund invests in shares which are believed to have above average growth.

M&G funds Various Old Mutual Wealth Limited, Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual International Guernsey Limited 25 May 2017
Sarasin (Various) Objective Changes Old Mutual Wealth Limited, Old Mutual Life & Pensions Limited, Old Mutual Life Assurance Limited and Old Mutual International Limited 28 Apr 2017
Investec UK Alpha Objective Change Old Mutual Wealth Limited, Old Mutual Life & Pensions Limited and Old Mutual International Guernsey Limited 07 Apr 2017

Current Objective 

To achieve long term capital growth primarily through investment in a concentrated portfolio of equities issued by UK companies and in derivatives the underlying assets of which are equities issued by UK companies. The fund will be managed actively with a long term investment horizon. 

New Objective 

To achieve long term capital growth and provide income primarily through investment in a portfolio of equities issued by UK companies. The fund will be managed actively with a long term investment horizon and will focus on stocks believed to offer above average opportunities for total returns.

Investec UK Alpha Objective Change Old Mutual Wealth Limited, Old Mutual Life & Pensions Limited and Old Mutual International Guernsey Limited 07 Apr 2017

Current Objective 

To achieve long term capital growth primarily through investment in a concentrated portfolio of equities issued by UK companies and in derivatives the underlying assets of which are equities issued by UK companies. The fund will be managed actively with a long term investment horizon. 

New Objective 

To achieve long term capital growth and provide income primarily through investment in a portfolio of equities issued by UK companies. The fund will be managed actively with a long term investment horizon and will focus on stocks believed to offer above average opportunities for total returns.

Fidelity Multi Asset Open funds (Various) Objective Change Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions and Old Mutual International Guernsey Limited 14 Mar 2017
Schroder Monthly High Income Name & Objective Change Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions and Old Mutual International Guernsey 17 Feb 2017

Current Objective
To achieve a high level of income from a diversified portfolio of debt securities. The full spectrum of available securities, including unrated issues and those of non-investment grade, will be utilised.

New Objective
To provide income by investing in fixed and floating rate securities worldwide. The Fund also aims to provide capital growth.

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Please Note: this fund will also be changing it's name to Schroder High Yield Opportunities
Fidelity (Various) Objective Change Old Mutual Wealth Limited, Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Life & Pensions, Professional Life Assurance Company Limited and Old Mutual International Guernsey Limited 15 Feb 2017
Allianz UK Growth Objective change Old Mutual International Guernsey Limited, Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions 13 Jan 2017
Current Objective

The Fund aims to achieve capital growth by investing in all economic sectors of the United Kingdom though it may invest internationally.

New Objective

The Fund aims to achieve capital growth, by investing in all economic sectors of the United Kingdom though it may invest internationally. The ACD will not follow any particular style bias and it will seek to take advantage of opportunities across the UK and other international markets to achieve capital growth. The Authorised Corporate Director (ACD) will predominantly invest into stocks.

There will be no change to the IMA sector, TW sector or Fund Type for Illustrations.

Exclamation
Please note: this fund will also be changing name to Allianz UK Opportunities.
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