| Change Details | |
|---|---|
| Title | abrdn Fund Managers Limited |
| Type | Mergers |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 27 September 2024 |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | abrdn Fund Managers Limited |
| Fund Names | abrdn Global Focused Equity |
| Type of change | Merger |
| Date merger effective from | 27.09.2024 |
| Date fund suspended | 26.09.2024 |
| Deadline for investors to switch out if appropriate (to avoid any costs) |
11:00am on 12.09.2024 |
| Deadline for investors to switch out if appropriate | 11:00am on 26.09.2024 |
| Is the event subject to shareholder approval? | Yes |
| 2. Fund details | |
| Current Fund | New Fund |
| abrdn Global Focused Equity | abrdn Global Equity |
| 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 generate growth over the long term (5 years or more) by investing in global equities (company shares). Performance Target: To achieve the return of the MSCI AC World Index plus 3% per annum over rolling five year periods (before charges). The Performance Target is the level of performance that the management team hopes to achieve for the fund. There is however no certainty or promise that they will achieve the Performance Target. The fund will invest at least 70% in equities and equity related securities of companies listed on global stock exchanges. |
| New objective | To generate growth over the long term (5 years or more) by investing in equities (company shares) worldwide. Performance Target: To achieve the return of the MSCI AC World Index plus 3% per annum over rolling three year periods (before charges). The Performance Target is the level of performance that the management team hopes to achieve for the fund. There is however no certainty or promise that they will achieve the Performance target. The fund will invest at least 80% in equities and equity related securities of companies listed on global stock exchanges. |
| 5. Charging structure | |
| Bundled Fund | |
| Previous AMC | 1.35% |
| New AMC | 1.20% |
| Previous TER | 1.36% |
| New TER | 1.29% |
| Previous Reimbursed Amount (Charge Basis 2) | 0.25% |
| New Reimbursed Amount(Charge Basis 2) | 0.35% |
| Previous Reimbursed Rebate Rate(Charge Basis 3) | 0.37% |
| New Reimbursed Rebate Rate (Charge Basis 3) | 0.69% |
| Unbundled Fund | |
| Previous AMC | 0.85% |
| New AMC | 0.75% |
| Previous TER | 0.99% |
| New TER | 0.84% |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | abrdn Fund Managers Limited |
| Fund Names | abrdn Investment Grade Corporate Bond |
| Type of change | Merger |
| Date merger effective from | 27.09.2024 |
| Date fund suspended | 26.09.2024 |
| Deadline for investors to switch out if appropriate (to avoid any costs) |
11:00am on 12.09.2024 |
| Deadline for investors to switch out if appropriate | 11:00am on 26.09.2024 |
| Is the event subject to shareholder approval? | Yes |
| 2. Fund details | |
| Current Fund | New Fund |
| abrdn Investment Grade Corporate Bond | abrdn Sterling Corporate Bond |
| 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 generate income and some growth over the long term (5 years or more) by investing in Sterling-denominated investment grade corporate bonds. Performance Target: To achieve the return of the Markit iBoxx Sterling Collateralized & Corporates Index plus 0.8% per annum (before charges). The Performance Target is the level of performance that the management team hopes to achieve for the fund. There is however no certainty or promise that they will achieve the Performance Target. The fund will invest at least 60% in Sterling denominated investment grade corporate bonds. |
| New objective | To generate income and some growth over the long term (5 years or more) by investing in Sterling-denominated investment grade corporate bonds. Performance Target: To exceed the IA Sterling Corporate bond Sector Average return (after charges) over 1 year and be top quartile over rolling three year periods. The Performance Target is the level of performance that the management team hopes to achieve for the fund. There is however no certainty or promise that they will achieve the Performance Target. The fund will invest at least 60% in Sterling denominated investment grade corporate bonds. |
| 5. Charging structure | |
| Bundled Fund | |
| Previous AMC | 1.00% |
| New AMC | 1.00% |
| Previous TER | 1.01% |
| New TER | 1.01% |
| Previous Reimbursed Amount (Charge Basis 2) | 0.25% |
| New Reimbursed Amount(Charge Basis 2) | 0.35% |
| Previous Reimbursed Rebate Rate(Charge Basis 3) | 0.37% |
| New Reimbursed Rebate Rate (Charge Basis 3) | 0.60% |
| Unbundled Fund (Share Class Institutional) | |
| Previous AMC | 0.50% |
| New AMC | 0.50% |
| Previous TER | 0.59% |
| New TER | 0.59% |
| Previous Reimbursed Rebate Rate(Charge Basis 3) | 0.00% |
| New Reimbursed Rebate Rate (Charge Basis 3) | 0.10% |
| Unbundled Fund (Share Class Platform 1) | |
| Previous AMC | 0.50% |
| New AMC | 0.50% |
| Previous TER | 0.64% |
| New TER | 0.59% |
| Previous Reimbursed Rebate Rate(Charge Basis 3) | 0.00% |
| New Reimbursed Rebate Rate (Charge Basis 3) | 0.10% |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | abrdn Fund Managers Limited |
| Fund Names | abrdn UK Income Unconstrained Equity |
| Type of change | Merger |
| Date merger effective from | 27.09.2024 |
| Date fund suspended | 26.09.2024 |
| Deadline for investors to switch out if appropriate (to avoid any costs) |
11:00am on 12.09.2024 |
| Deadline for investors to switch out if appropriate | 11:00am on 26.09.2024 |
| Is the event subject to shareholder approval? | Yes |
| 2. Fund details | |
| Current Fund | New Fund |
| abrdn UK Income Unconstrained Equity | abrdn UK Income Equity |
| 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 generate income and some growth over the long term (5 years or more) by investing in UK equities (company shares). Performance Target: To deliver a yield greater than that of the FTSE All Share Index over a rolling five year period (before charges) and achieve a return in excess of the FTSE All Share Index over a rolling five year period (before charges). The Performance Target is the level of performance that the management team hopes to achieve for the fund. There is however no certainty or promise that they will achieve the Performance Target. Performance Comparator: IA UK Equity Income sector average. The ACD believes this is an appropriate target/comparator for the fund based on the investment policy of the fund and the constituents of the index/sector. The fund will invest at least 70% in equities and equity related securities of companies incorporated or domiciled in the UK or having significant operations and/or exposure to the UK. |
| New objective | To generate income and some capital over the long term (5 years or more) by investing in UK equities (company shares). Performance Target: To deliver a yield greater than that of the FTSE All Share Index over a rolling five year period (before charges) and achieve a return in excess of the FTSE All Share Index over a rolling five year period (before charges). The Performance Target is the level of performance that the management team hopes to achieve for the fund. There is however no certainty or promise that they will achieve the Performance Target. Performance Comparator: IA UK Equity Income sector average. The ACD believes this is an appropriate target/comparator for the fund based on the investment policy of the fund and the constituents of the index. The fund will invest at least 70% in equities and equity related securities of companies incorporated or domiciled in the UK or having significant operations and/or exposure to the UK. |
| 5. Charging structure | |
| Bundled Fund | |
| Previous AMC | 1.50% |
| New AMC | 1.20% |
| Previous TER | 1.50% |
| New TER | 1.29% |
| Previous Reimbursed Amount (Charge Basis 2) | 0.25% |
| New Reimbursed Amount(Charge Basis 2) | 0.50% |
| Previous Reimbursed Rebate Rate(Charge Basis 3) | 0.37% |
| New Reimbursed Rebate Rate (Charge Basis 3) | 0.60% |
| Unbundled Fund | |
| Previous AMC | 1.00% |
| New AMC | 0.75% |
| Previous TER | 1.13% |
| New TER | 0.84% |
| Previous Reimbursed Rebate Rate(Charge Basis 3) | 0.00% |
| New Reimbursed Rebate Rate (Charge Basis 3) | 0.19% |
Client Correspondence
- abrdn Global Focused Equity - Adviser Model - GB00B6915J97 GB0004483540 SAMPLE
- abrdn Global Focused Equity - Bundled clients SAMPLE - CB123 GB0004483540
- abrdn Global Focused Equity - Unbundled clients SAMPLE - CB3 GB00B6915J97
- abrdn Investment Grade Corporate Bond - Adviser model SAMPLE GB0004330048 GB00B6TRYW36
- abrdn Investment Grade Corporate Bond Bundled - SAMPLE CB123 GB0004330048 GB0004329826
- abrdn Investment Grade Corporate Bond Unbundled clients - CB3 SAMPLE GB00B6TRYW36 GB00B76CD438
- abrdn Investment Grade Corporate Bond Unbundled SAMPLE - CB3 GB0004331459
- abrdn UK Income Unconstrained Equity - Bundled clients SAMPLE - CB123 GB00B1LBSR16
- abrdn UK Income Unconstrained Equity Adviser model SAMPLE-GB00B7G8Q193 GB00B79X9673 GB00B1LBSR16
- abrdn UK Income Unconstrained Equity- Unbundled SAMPLE - CB3 GB00B79X9673 GB00B7G8Q193
- G00BYMMJL57
- GB00B0XWN705
- GB00B0XWN929
- B00B0XWNB45
- GB00BYMMK898
- GB00BYYR0W60
- GB00BYYR0X77
- GB0031682403
- GB0031682734