Summary of Share Class Conversion Process

Day 1

Old Mutual Wealth submits the units due for conversion to the relevant fund manager. At this point your holdings in the converting fund are locked down and cannot be traded until the conversion is complete.

Day 2/3

Depending on the fund manager’s conversion process, the conversion will be confirmed by the fund manager on day two or three, at this point a conversion factor will be applied to your holdings. The conversion factor tells Old Mutual Wealth how many units in the unbundled fund should be applied for each unit of the converting fund, the correct number of unbundled units is then applied to your account.

For Example:

An investor holds 100 units of ‘ABC Bundled Fund’ which will be converting to ‘ABC Unbundled Fund’

The Fund Manager confirms the conversion factor as 1:2

100 units of the bundled fund are converted to 200 unbundled units (2 x 100) and are subsequently applied to the investors account, ensuring the value of the investment remains the same as it would have been if the investor had retained the bundled fund.

Day 3/4 

The new fund holding will be visible on your account the day after the conversion completes.