| Change Details | |
|---|---|
| Title | AXA Framlington Monthly Income |
| Type | Mergers |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 20 September 2024 |
Please note that the receiving funds will be new to market and there are currently no KIIDs available to date.
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | AXA Investment Managers UK Limited |
| Fund Name | AXA Framlington Monthly Income |
| Type of change | Merger |
| Date merger effective from | 20 September 2024 |
| Date fund suspended | 19 September 2024 |
| Deadline for investors to switch out if appropriate | 11:00am on 19 September 2024 |
| Is the event subject to shareholder approval? | Yes |
| 2. Fund details | |
| Current Fund | New Fund |
| AXA Framlington Monthly Income | AXA Framlington UK Equity Income |
| 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 a monthly income with potential for long-term growth of capital. The Manager intends to achieve a yield of distributable income in excess of 100% of the FTSE All Share yield at the fund’s year end on a rolling 3 year basis, and in excess of 90% on an annual basis. The fund invests primarily in shares of UK listed companies which the Manager believes will provide above-average income and capital growth and will invest in companies of any size. |
| 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 fund’s year end on a rolling 3 year basis, and in excess of 90% on an annual basis. The fund has at least 70% of its investments in shares of companies domiciled, incorporated or having significant business in the UK, which the Manager believes are leading companies within their sector and will provide above-average returns. The fund has at least 51% of its investments in large companies which are in the FTSE 100 index. |
| 5. Charging structure | |
| Bundled Fund | |
| Previous AMC | 1.50% |
| New AMC | 1.50% |
| Previous TER | 1.63% |
| New TER | 1.61% |
| Previous Reimbursed Amount (Charge Basis 2) | 0.50% |
| New Reimbursed Amount(Charge Basis 2) | 0.50% |
| Previous Reimbursed Rebate Rate(Charge Basis 3) | 0.75% |
| New Reimbursed Rebate Rate (Charge Basis 3) | 0.75% |
| Unbundled Fund | |
| Previous AMC | 0.75% |
| New AMC | 0.75% |
| Previous TER | 0.88% |
| New TER | 0.86% |