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Objective and policy changes

Name Description Fund Range Effective Date
Threadneedle Managed (Various Funds) Objective Change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 07 May 2020
For information:Orange arrowview change details
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

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.

For information:Orange arrowview change details
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.

HSBC Global Asset Management (UK) Limited Objective Change Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 01 Oct 2019
Old Objective

HSBC Corporate Bond

To provide a regular and competitive level of income from an underlying portfolio of predominantly sterling corporate bonds.

HSBC Gilt & Fixed Interest

To provide a regular and competitive level of income from an underlying portfolio of gilts and other highly rated fixed interest securities through investment predominantly in British Government stocks and other fixed interest stock whether issued in Great Britain or any other country in the world.

New Objective

HSBC Corporate Bond

To provide higher returns, before charges and tax are deducted from the fund, than the Markit iBoxx GBP Corporates Index plus 1% per year over three-year periods.

HSBC Gilt & Fixed Interest

To provide higher returns, before charges and tax are deducted from the fund, than the FTSE Actuaries UK Conventional Gilts All Stocks Index plus 0.75% per year over three-year periods.

AXA Framlington Blue Chip Equity Income Name and Objective Change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 09 Sep 2019
Current Objective

To produce higher than average income with long-term growth of income and capital by investing in shares of companies, primarily listed in the UK, which the manager believes are leading companies within their sector and will provide above-average returns.

 

New Objective

To produce higher than average income with long-term growth of income and capital. The manager also intends to achieve a yield of distributable income in excess of 100% of the FTSE All Share yield at the funds year end on a rolling 3 year basis, and in excess of 90% on an annual basis.

Exclamation
Please note: The Fund is also changing its name to AXA Framlington UK Equity Income
Schroder Mixed Distribution Name and Objective Change Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 02 Sep 2019
Old Objective

To provide monthly income through a diversified investment in collective investment schemes invested in equity, equity-related securities, real estate securities and debt or fixed interest securities of companies worldwide.

 

New Objective

To provide monthly income equal to 5% per annum by investing in a diversified range of assets and markets worldwide. This cannot be guaranteed and your capital is at risk. The fund invests at least 80% of its assets directly, or indirectly through collective investment schemes, exchange traded funds, real estate investment trusts or closed end funds, in equity and equity related securities, fixed and floating rate securities and alternative assets worldwide.

Exclamation
Please note: The fund is also changing its name to Schroder Monthly Income.
Threadneedle UK Corporate Bond Name and objective change Old Mutual Wealth Life Assurance Limited, Old Mutual Wealth Limited and Old Mutual Wealth Life & Pensions Limited 31 Aug 2019
Current Objective

To achieve a high level of income by investing primarily in fixed interest investments in the UK and Continental Europe.

New Objective

To provide income, with the prospect of some capital growth over the long term (5 years or more), by investing at least two-thirds of its assets in investment grade corporate bonds that are denominated in sterling (or hedged back to sterling, if a different currency), issued by UK companies and companies worldwide.

Neptune Russia and Greater Russia Name & objective change Old Mutual Wealth Limited, Old Mutual Wealth Life & Pensions and Limited Old Mutual Wealth Life Assurance Limited 07 Aug 2019
Current Objective:

To generate capital growth from investment predominantly in Russian and Greater Russian securities or securities issued by companies transacting a significant proportion of their business in Russia and Greater Russia.

New Objective:

To generate long term (5 years or more) capital growth. The fund invests at least 80% in shares of Russian companies. These are companies which, at the time of purchase, are incorporated, domiciled, listed or conduct significant business in Russia.

Exclamation
Please note: The fund is also changing it's name to Neptune Russia
Aviva Investors (various funds x7) Objective Change Old Mutual Wealth Limited, and Old Mutual Wealth Life & Pensions Limited 07 Aug 2019
For information: Orange arrowview change details
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