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Objective and policy changes

Name Description Fund Range Effective Date
Lazard UK Smaller Companies Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Limited & Old Mutual Wealth Life & Pensions Limited 22 Jun 2020
Old objective

To achieve capital growth, over at least 5 years, net of fees at a rate greater than that of the Numis Smaller Companies Index.

New objective

To achieve capital growth, over a rolling 5 year period, net of fees at a rate greater than that of the Numis Smaller Companies ex Investment Companies Index.

Unicorn Outstanding British Companies, Unicorn UK Ethical Income, and Unicorn UK Income Objective change Old Mutual Wealth Limited, and Old Mutual Wealth Life & Pensions Limited 15 Jun 2020
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Stewart Investors Asia Pacific, and Stewart Investors Worldwide Select Name, Sector & Objective Change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited, and Old Mutual Wealth Life Assurance Limited 22 May 2020
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Carmignac Portfolio Commodities -U Name and Objective Change Old Mutual Wealth Limited, and Old Mutual Wealth Life & Pensions Limited 15 May 2020
Old Objective

To obtain long-term asset growth by managing a portfolio of investments in diversified business segments of the commodity sector.

New Objective

To outperform its reference indicator (MSCI AC World NR) over a recommended investment horizon of five years.

Exclamation
Please note: the name of this fund will also be changing to Carmignac Portfolio Green Gold -U
Vanguard SRI Global Stock -U Name & Objective Change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 13 May 2020
Old Objective

To provide long-term growth of capital by seeking to achieve the performance of a benchmark index that measures the performance of large and mid-sized common stocks of companies in developed countries.

New Objective

To provide long-term growth of capital by seeking to achieve the performance of the FTSE Developed All Cap ex Controversies / Non-Renewable Energy / Vice products / Weapons Index.

Threadneedle Managed (Various Funds) Objective Change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 07 May 2020
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Investec Fund Managers Limited ACD and Fund name change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Life Assurance Limited 27 Apr 2020
Current ACD Name

Investec Fund Managers Limited                        

New ACD Name

Ninety One Fund Managers UK Limited

OMW Carnegie Name and objective change Old Mutual Wealth Life Assurance Limited 23 Apr 2020
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Marlborough ETF Commodity Name and objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Life Assurance Limited 20 Mar 2020
Marlborough UK Multi-Cap Growth Name & Objective Change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Life Assurance Limited 06 Mar 2020
Old Objective

To provide medium to long term capital growth by investing in an actively managed portfolio of small, medium and large cap UK equities, principally in companies which are amongst the leading companies in their business sector.

New Objective

The aim of the fund is to provide capital growth, that is, to increase the value of your investment over a period of 5 or more years. The fund aims to deliver greater returns than the FTSE All-Share Index over any 3 year period, after any charges have been taken out of the fund. However there is no certainty this will be achieved. The fund will invest at least 80% in the shares of companies and investment trusts listed on the UK stock exchanges. This will include a range of small, medium and large companies.

Treasury Capital x3 Name and objective change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 06 Mar 2020
Old objective

TC Share Centre Multi Manager Adventurous -U: To achieve capital growth in excess of the IMA Flexible Investment Index, primarily through investment in a portfolio of Collective Investment Vehicles providing diversification across a range of underlying assets.

TC Share Centre Multi Manager Balanced -U: To achieve a combination of income distributions of approximately 2% per annum and capital growth in excess of the IMA Mixed Investment 40-85% Shares index, primarily through investment in a portfolio of Collective Investment Vehicles providing diversification across a range of underlying assets.

TC Share Centre Multi Manager Cautious -U:To achieve a combination of income distributions of approximately 4% per annum and capital growth in excess of the IMA Mixed Investment 20-60% Shares Index, primarily through investment in a portfolio of collective investment schemes, investment trusts and closed-ended investment companies (together, "Collective Investment Vehicles") providing diversification across a range of underlying assets.

 

New objective

TC Share Centre Multi Manager Adventurous -U: The fund aims to provide capital growth. The fund seeks to achieve its investment objective by investing at least 80% of its value in a portfolio of collective investment schemes (CIS’), that includes Open Ended Investment Companies (OEICs), Unit Trusts, Investment Trusts and Exchange Traded Products (ETPs).

TC Share Centre Multi Manager Balanced -U: The fund aims to provide investors with a combination of income, which is equal to or more than 1% above the official bank of England base rate after the deduction of all fees over a rolling 12 month period, (the “Benchmark”) and capital growth. The fund seeks to achieve its investment objective by investing at least 80% of its value in a portfolio of collective investment schemes (CIS’), that includes Open Ended Investment Companies (OEICs), Unit Trusts, Investment Trusts and Exchange Traded Products (ETPs).

TC Share Centre Multi Manager Cautious -U: The fund aims to provide investors with a combination of income, which is equal to or more than 2% above the official bank of England base rate after the deduction of all fees over a rolling 12 month period, (the “Benchmark”) and capital growth. The fund seeks to achieve its investment objective by investing at least 80% of its value in a portfolio of collective investment schemes (CIS’), that includes Open Ended Investment Companies (OEICs), Unit Trusts, Investment Trusts and Exchange Traded Products (ETPs).

Man GLG Strategic Bond various Bond objective change Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 19 Feb 2020
Old objective

To achieve an above average level of return, through income and capital appreciation, investing primarily in debt securities, global currencies, money market instruments, time deposits, and any associated derivatives.

New objective

To achieve a total return (a combination of income and capital growth) by investing globally in government bonds, corporate bonds and other bond securities.

Man GLG UK Absolute Value -U Name & objective change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 19 Feb 2020
Old objective

To deliver absolute returns in any market conditions on a rolling 3 year timeframe. The assets of the fund are subject to market fluctuations and the usual investment risks. The value of the assets of the fund and income derived from them may fall as well as rise. Consequently, whilst the fund seeks to provide absolute returns in all market conditions on a rolling 3 year timeframe, absolute returns may not be guaranteed over this time period, or any other time period, and the fund’s capital is at risk.

New objective

To provide a return from an actively managed portfolio in all market conditions (net of fees) in excess of 3-Month GBP LIBOR (over one year calendar periods). The assets of the fund are subject to market fluctuations and the usual investment risks. The value of the assets of the fund and income derived from them may fall as well as rise. Consequently, whilst the fund seeks to provide absolute returns in all market conditions over one year calendar periods, absolute returns may not be guaranteed over this time period, or any other time period, and the fund’s capital is at risk.

Liontrust Sustainable Future Absolute Growth -U Name & Objective Change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 10 Feb 2020
Old objective

To achieve long term capital appreciation by selective investment, principally in global equities based on price and prospects of above average earnings growth.

New objective

To deliver capital growth over the long term (5 years or more), by investing globally. All investments will be expected to conform to Liontrust’s social and environmental criteria.

JPM UK Strategic Equity Income Name & Objective Change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Life Assurance Limited 28 Jan 2020
Old objective

To provide long-term capital growth and income through investment in a value style biased portfolio of UK companies

New objective

To provide capital growth over the long-term (5-10 years) through investment in a value style biased portfolio of UK companies

LF Woodford Income Focus Name and objective change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 23 Jan 2020
Old objective

To provide a high level of income (*) together with capital growth.*The fund manager will aim to deliver an income of 5p per share per annum. Investors should be aware that there is no guarantee that any specific level of dividend or yield will be achieved over any given time period.

New objective

To provide a high level of income (*) together with capital growth.*The fund manager will aim to achieve a yield higher than the average yield of the FTSE All Share Index over a 3 year rolling period. Investors should be aware that there is no guarantee that any specific level of dividend or yield will be achieved over any given time period.

Legg Mason IF Martin Currie North American various Name and objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Life Assurance Limited 20 Dec 2019
Old objective

To achieve capital growth through investment in the United States of America and Canada and to outperform the MSCI North America Net Dividends Index over rolling 3-year periods (net of fees).

New objective

To achieve capital growth over periods of five or more years, through investment of at least 80% of the net asset value of the Fund in a portfolio of US equities.

M&G UK Inflation Linked Corporate Bond Objective Change Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Limited, and Old Mutual Wealth Life & Pensions Limited 16 Dec 2019
Old Objective

The Fund aims to protect the value of capital and income from inflation by generating a return consistent with or greater than UK inflation 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.

 

The Fund invests mainly in investment grade corporate bonds, including inflation-linked corporate bonds, floating rate notes (including asset backed securities) and other fixed income instruments (including bonds not linked to inflation).

New Objective

The Fund aims to protect the value of capital and income from inflation by providing a total return (the combination of capital growth and income), net of the Ongoing Charge Figure, that is consistent with or higher than UK inflation (as measured by the UK Consumer Prices Index), over any three-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.

 

At least 70% of the Fund is invested, directly or indirectly, in investment grade corporate debt securities (typically inflation-linked corporate bonds and floating rate notes), denominated in Sterling or hedged back to Sterling. These securities can be issued by companies from anywhere in the world, including emerging markets.

Castlefield BEST UK Opportunities -U Name and objective change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 01 Nov 2019
Old 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.

New objective

To invest primarily
for long term capital growth from a portfolio of investments which is superior
to the median performance of all the funds forming the official peer group of
which the fund is a part. ‘Peer group’ is defined as being the Investment Association
sector to which the fund has been allocated (currently being the UK All
companies Sector) or to which it may be allocated in the future, as determined
by that body.

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Invesco Hong Kong & China (UK) various Name and objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions Limited and Old Mutual Wealth Life Assurance Limited 31 Oct 2019
Old objective

To achieve long-term (5 years plus) capital growth by investing at least 80% of its assets in shares or other equity related securities of companies incorporated, domiciled or carrying out the main part of their economic activity in China, including Hong Kong. Exposure to China will be largely obtained through investment in securities traded on Hong Kong exchanges and other markets.

New objective

To achieve long-term (5 years plus) capital growth by investing at least 80% of its assets in shares or other equity related securities of companies incorporated, domiciled or carrying out the main part of their economic activity in China, including Hong Kong. Exposure to China will be accessed by investing in securities listed on Hong Kong and other relevant exchanges and China A shares listed on the Shanghai and Shenzhen Stock Exchanges via Stock Connect.

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