| Change Details | |
|---|---|
| Title | 7IM AAP Income |
| Type | Mergers |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 14 June 2024 |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | Seven Investment Management LLP |
| Fund Name | 7IM AAP Income |
| Type of change | Merger |
| Date merger effective from | 14 June 2024 |
| Date fund suspended | 13 June 2024 |
| Deadline for investors to switch out if appropriate | 11: 00 am 13 June 2024 |
| Is the event subject to shareholder approval? | Yes - Approved on 11 June 2024 |
| 2. Fund details | |
| Current Fund | New Fund |
| 7IM AAP Income | 7IM AAP Moderately Cautious |
| 3. Merger details | |
| Will the phasing option automatically continue? | Yes |
| Will the rebalancing option automatically continue? | Yes |
| Will ongoing direct debit payments automatically be redirected into the new fund? | Yes |
| 4. Investment objectives | |
| Previous objective | To provide income, while seeking to maintain capital over the long term (5 years or more) by investing directly and indirectly to achieve exposure of at least 80% to fixed interest and equity instruments. This exposure is, for the most part, obtained through passive strategies but may also be achieved through the use of futures contracts which require cover to be held. The fund will also invest in other asset classes such as property, commodities and private equity, indirectly through holdings in equities including investment trusts, exchange traded funds or other funds. The asset allocation for the entire portfolio will be actively managed. |
| New objective | To provide a return by way of income with some capital growth by investing directly and indirectly, to achieve exposure of at least 80% to fixed interest and equity instruments. This exposure is, for the most part, obtained through passive strategies but may also be achieved through the use of futures contracts which require cover to be held. The fund will also invest in other asset classes such as property, commodities and private equity indirectly through holdings in equities including investment trusts, exchange traded funds or other funds. The asset allocation for the entire portfolio will be actively managed. |
| 5. Charging structure | |
| Bundled Fund | |
| Previous AMC | 1.55% |
| New AMC | 1.40% |
| Previous TER | 1.90% |
| New TER | 1.56% |
| Previous Reimbursed Amount (Charge Basis 2) | 0.50% |
| New Reimbursed Amount(Charge Basis 2) | 0.50% |
| Previous Reimbursed Rebate Rate(Charge Basis 3) | 1.05% |
| New Reimbursed Rebate Rate (Charge Basis 3) | 0.90% |
| Unbundled Fund | |
| Previous AMC | 0.50% |
| New AMC | 0.50% |
| Previous TER | 0.85% |
| New TER | 0.66% |
Client Correspondence
- 7IM AAP Income - Merger - Unbundled clients - SAMPLE
- 7IM AAP Income - Merger - Adviser model SAMPLE
- 7IM AAP Income - Merger - Bundled - SAMPLE
- 7IM AAP Moderately Cautious C Inc - KIID
- 7IM AAP Moderately Cautious D Acc - KIID
- 7IM AAP Moderately Cautious D Inc - KIID
- 7IM AAP Moderately Cautious C Acc - KIID