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Objective and policy changes

Name Description Fund Range Effective Date
Threadneedle Ethical UK Equity -U Name and objective change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 01 Jul 2019
Current objective

To achieve a total return by way of income and capital growth by investing in companies that meet the ACD’s criteria for responsible and ethical practices. The investment policy is to invest predominantly in shares of UK companies that meet the fund’s ethical investment criteria as determined and published by the ACD from time to time.

New Objective

To achieve a return over the long term, consisting of capital growth and some income, achieved through investment in companies that are positively exposed to sustainable themes through their products and services, as well as those with strong or improving environmental, social and governance (ESG) characteristics.

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Please note: the fund is also changing it's name to Threadneedle UK Sustainable Equity -U
Quilter Investors Equity 2 Objective Change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Life Assurance Limited 18 Jun 2019
Old Objective

To provide long term total return from capital growth and income in a portfolio of predominantly UK equities.

New Objective

To achieve a combination of income and capital growth.

M&G Episode Macro (Share class T) -U Objective change Old Mutual Wealth Limited, and Old Mutual Wealth Life & Pensions Limited 14 Jun 2019
Old objective

To deliver a higher total return, with lower volatility on average, than global equities over a rolling three to five-year period. The fund will typically invest in a variety of equity index futures, currency forwards, interest rate swaps, and other highly-liquid derivatives.

New objective

To deliver a total return (the combination of capital growth and income) of at least 4-8% per annum above the 3-month LIBOR over any five-year period, after charges are taken. The fund typically uses derivatives to gain exposure to a range of asset classes including equities, fixed income securities, convertibles and currencies, from anywhere in the world.

Royal London Cash Plus Objective Change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 20 May 2019
Baillie Gifford Greater China Name & objective change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 02 May 2019
Old Objective

To produce capital growth over the long term by investing primarily in the shares of companies that are either domiciled, incorporated or conduct a significant portion of their operations in one or more of mainland China, Hong Kong or Taiwan.

New objective

To achieve long term capital growth by investing at least 90% in the shares of, or depositary receipts representing the shares of, Chinese companies.

Chinese companies are companies that have their headquarters or conduct a significant part of their operations in China and may be listed, quoted or traded on any market. Depositary receipts are transferable securities issued by a bank and which represent the shares of a company. Many Chinese companies are available for investment only through depositary receipts.  

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Please note: the fund is also changing it's name.
Royal London Duration Hedged Credit -U Objective & IA Sector Change Old Mutual Wealth Limited & Old Mutual Wealth Life & Pensions Limited 01 May 2019
Old objective

To achieve a positive absolute return over the medium (5 years) to long (7 years) term in all market conditions. The Fund does not offer any element of capital protection or guarantee that this return will be achieved. The fund will be actively managed, with the majority of assets in investment grade corporate bonds across a range of maturities.

New objective

To achieve a positive absolute return over rolling three year periods in all market conditions. The fund does not offer any element of capital protection or guarantee that this return will be achieved.The fund will be actively managed, with the majority of assets in investment grade corporate bonds across a range of maturities.

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Please note: the IA sector will change to IA Targeted Absolute Return.
Sarasin Sterling Bond -U Objective change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 01 May 2019
Current Objective

To achieve an income at a premium to the FTSE Gilts All Stocks Index and to achieve an overall return higher than that index over the medium term. The fund is expected to invest predominantly either directly or indirectly in fixed income assets with the majority invested either directly or indirectly in Pounds Sterling denominated government, corporate, asset-backed, index-linked, convertible and structured bonds.

New Objective

To achieve an income at a premium to the ICE BOAML UK Gilts All Stocks Index and to achieve an overall return higher than the fund’s benchmark of 50% ICE BOAML UK Gilts All Stocks Index and 50% ICE BOAML UK Sterling non-Gilt Index over the medium term. The fund is expected to invest predominantly either directly or indirectly in fixed income assets with the majority invested either directly or indirectly in Pounds Sterling denominated government, corporate, asset-backed, index-linked, convertible and structured bonds.

Vanguard (Ireland) Limited Objective change Old Mutual Wealth Limited Old Mutual Wealth Life & Pensions Limited 29 Apr 2019
Old objective

To provide returns consistent with the performance of the Index of the Bloomberg Barclays Global Aggregate Ex US MBS 1-5 Year Float Adjusted Bond index or any other similar index selected by the Directors. The Index is a market-weighted index of global government, government-related agencies, corporate and securitised bonds, excluding U.S. mortgage backed securities, with a maturity between 1 and 5 years.

New objective

To provide returns consistent with the performance of the Index of the Bloomberg Barclays Global Aggregate Ex US MBS 1-5 Year Float Adjusted and Scaled index or any other similar index selected by the Directors. The Index is a market-weighted index of global government, government-related agencies, corporate and securitised bonds, excluding U.S. mortgage backed securities, with a maturity between 1 and 5 years.

M&G Japan Smaller Companies Objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Life Assurance Limited 24 Apr 2019
Old objective

To achieve long term capital growth by investing wholly or predominantly in securities of smaller Japanese companies, the universe for which is the bottom third in terms of total market capitalisation of all publically listed equity in Japan. When not wholly invested as above, the fund may also invest in medium sized and larger companies in order to enhance its liquidity.

New objective

To provide a higher total return (the combination of capital growth and income), net of the ongoing charge figure, than that of the Russell/Nomura Mid-Small Cap Index over any five-year period. At least 80% of the fund will invest in equity securities and equity-related securities of smaller companies that are incorporated, domiciled or do most of their business in Japan.

Threadneedle American Select Objective Change Old Mutual Wealth Life Assurance Limited, Old Mutual International Guernsey Limited, Old Mutual Wealth Limited, and Old Mutual Wealth Life & Pensions Limited 15 Apr 2019
Old objective

To achieve above-average capital growth through investing 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. There will be no particular sector specialisation.

New objective

To achieve above average capital growth over the long term by looking to outperform the S&P 500 Index after charges, when measured over rolling 3-year periods. The fund is actively managed and invests at least 75% of its assets in a concentrated portfolio of shares of companies domiciled in the United States of America (US), or which have significant US business operations.

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Please note: there will be no changes to the IA sector, TW sector or Fund Type for Illustrations.
Standard Life MyFolio Market (various) Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 10 Apr 2019
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Standard Life MyFolio Managed (various) Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 10 Apr 2019
For information:Orange arrowview change details
Standard Life MyFolio Multi-Manager (various) Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 10 Apr 2019
For information:Orange arrowview change details
HSBC Balanced Objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual International Guernsey Limited 25 Mar 2019
Old objective

To obtain capital growth in the longer term together with income by investing in a diverse portfolio of equities and bonds in the UK and overseas, together with money market instruments.

New objective

To obtain capital growth in the longer term together with income by investing in a range of asset classes including equities, bonds, fixed interest securities, alternative asset classes and derivatives.

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Jupiter Monthly Income Name, investment objective & policy and the IA sector change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited & Old Mutual International Guernsey Limited 19 Mar 2019
Old objective

To achieve a high level of sustainable income with prospects of capital growth by investing principally in the UK, principally in equities via various classes of investment trust securities, with some exposure to fixed interest securities.

New objective

To achieve a high level of sustainable income with prospects of capital growth by investing at least 70% of its Net Asset Value in UK- listed closed-ended funds including investment trusts.

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Please note: the fund is also changing the name and the IA sector. The ‘TW Sector’ and ‘Fund Type for Illustrations’ will not change.
M&G (Various) Objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited, Old Mutual International Guernsey Limited & Old Mutual Wealth Life Assurance Limited 01 Mar 2019
For information:Orange arrowview change details.
AXA Framlington Financial Objective and Investment Policy change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited, Old Mutual International Guernsey Limited & Old Mutual Wealth Life Assurance Limited 12 Feb 2019
Old objective

The aim of this Fund is to provide long-term capital growth. The Fund invests in shares of listed companies, principally in the financial services sector (e.g. banks, insurance companies and investment related companies), which the Manager believes will provide above-average returns. The Fund invests in companies of any size and based anywhere in the world.

New objective

The aim of this Fund is to provide long-term capital growth. The Fund invests in shares of listed companies, principally companies providing financial services (e.g. banking, insurance, payment and investment related solutions) and companies providing technological applications throughout the financial services supply chain. The Fund invests in companies of any size and based anywhere in the world.

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Please note: the fund is also changing it's name to AXA Framlington FinTech.
Allianz various Objective change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 07 Feb 2019
Old Objective

Allianz RiskMaster Conservative Multi Asset -U

To achieve long term capital growth by maintaining a balance between investments which are considered lower to medium risk and those which are considered higher risk.

Allianz RiskMaster Growth Multi Asset -U

To achieve long term capital growth by investing in investments which are considered higher risk but may, on an ancillary basis, invest in investment considered lower to medium risk.

Allianz RiskMaster Moderate Multi Asset -U

To achieve long term capital growth by maintaining a bias towards investments which are considered higher risk but may invest, to lesser degree, in investments considered lower to medium risk.

New Objective

Allianz RiskMaster Conservative Multi Asset -U

To achieve long term capital growth. The level of risk is expected to be approximately 50% of the volatility of global equities defined as the MSCI World Index GBP, based on monthly data over a rolling 5 year period. This volatility level may fluctuate in the short term, and this target is not guaranteed.

Allianz RiskMaster Growth Multi Asset -U

To achieve long term capital growth. The level of risk is expected to be approximately 80% of the volatility of global equities defined as the MSCI World Index GBP, based on monthly data over a rolling 5 year period. This volatility level may fluctuate in the short term, and this target is not guaranteed.

Allianz RiskMaster Moderate Multi Asset -U

To achieve long term capital growth. The level of risk is expected to be approximately 65% of the volatility of global equities defined as the MSCI World Index GBP, based on monthly data over a rolling 5 year period. This volatility level may fluctuate in the short term, and this target is not guaranteed.

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Please note: there will be no changes to the IA sector, TW sector or Fund Type for Illustrations.
Quilter Investors Equity 2 Investment Objective Change Old Mutual Wealth Life Assurance Limited, Old Mutual International Guernsey Limited, Old Mutual Wealth Limited, and Old Mutual Wealth Life & Pensions Limited 04 Feb 2019
Old Objective

To provide long term total return from capital growth and income in a portfolio of predominantly UK equities.

New Objective

To achieve a combination of income and capital growth by primarily investing, directly and indirectly, in shares of UK companies

Exclamation
Please note: there will be no changes to the IA sector, TW sector or the Fund Type for Illustrations.
LF Prudential Dynamic (Various) Name, Objective and AMC change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 21 Jan 2019
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Please note: the fund is also changing it's Name and Annual Management Charge.
For information:Orange arrowview change details.
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