| Change Details | |
|---|---|
| Title | BNY Mellon Fund Managers Limited |
| Type | Mergers |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 07 September 2024 |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | BNY Mellon Fund Managers Limited |
| Fund Name | BNY Mellon US Opportunities |
| Type of change | Merger |
| Date merger effective from | 7 September 2024 |
| Date fund suspended | 5 September 2024 |
| Deadline for investors to switch out if appropriate | 11:00 am on 5 September 2024 |
| Is the event subject to shareholder approval? | Yes - Approved |
| 2. Fund details | |
| Current Fund | New Fund |
| BNY Mellon US Opportunities | BNY Mellon US 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 achieve capital growth over the long term (5 years or more) by investing at least 80% in equity (company shares) and equity-related securities (such as common and preferred stock, American depositary receipts, global depository receipts) and real estate investment trusts (“REIT”s) listed or traded on Eligible Markets located in the United States. The fund may also invest up to 10% of the portfolio in exchange traded funds (ETFs) listed or traded on Eligible Markets located worldwide in order to provide exposure to equity markets. The fund may invest up to 20% of the portfolio in equity or equity-related securities of companies (which will be listed or traded on Eligible Markets) which are neither located in the United States nor exercising a significant part of their activities in the United States, including up to 5% of the portfolio in issuers located in emerging market countries. |
| New objective | To achieve income and capital growth over the long term (5 years or more) by investing at least 70% in equity (company shares) and equity-related securities (such as common and preferred stock, American depositary receipts and global depository receipts), listed real estate investment trusts (“REIT”s) and master limited partnerships (“MLP’s”), issued by large capitalisation companies located in the US. This includes securities of companies which at the time of purchase have a market capitalisation of US$2 billion or above. The fund may invest up to 30% of the portfolio in equity or equity-related securities of companies (which will be listed or traded on Eligible Markets) located in the US which are smaller in capitalisation or in equity or equity-related securities or companies which either have their registered office in the US nor carry out a predominant part of their economic activities in the US. |
| 5. Charging structure | |
| Bundled Fund | |
| Previous AMC | 1.50% |
| New AMC | 1.50% |
| Previous TER | 1.65% |
| New TER | 1.57% |
| Previous Reimbursed Amount (Charge Basis 2) | 0.50% |
| New Reimbursed Amount(Charge Basis 2) | 0.50% |
| Previous Reimbursed Rebate Rate(Charge Basis 3) | 0.83% |
| New Reimbursed Rebate Rate (Charge Basis 3) | 0.83% |
| Unbundled Fund | |
| Previous AMC | 0.75% |
| New AMC | 0.75% |
| Previous TER | 0.86% |
| New TER | 0.82% |
| Previous Reimbursed Rebate Rate(Charge Basis 3) | 0.08% |
| New Reimbursed Rebate Rate (Charge Basis 3) | 0.08% |
Client correspondence
- BNY Mellon US Opportunities - Fund Mergers - Adviser model SAMPLE
- BNY Mellon US Opportunities - Fund Mergers - Bundled clients - CB123 SAMPLE
- BNY Mellon US Opportunities - Fund Mergers - Post SAMPLE
- KIID GB00BGV53H32
- KIID GB00BGV53J55
- KIID GB00BRT6ZX55
- BNY Mellon US Opportunities - Fund Mergers - Unbundled clients - CB3 SAMPLE