| Change Details | |
|---|---|
| Title | Federated Hermes Multi-Strategy Credit |
| Type | Mergers |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 25 June 2024 |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | Hermes Fund Managers Ireland Limited |
| Fund Name | Federated Hermes Multi-Strategy Credit |
| Type of change | Merger |
| Date merger effective from | 25 June 2024 |
| Deadline for investors to switch out if appropriate | 16:00 on 21 June 2024 |
| Is the event subject to shareholder approval? | Yes - approved |
| 2. Merger details | |
| Name of the new fund (the fund that the previous fund is being merged into) | Federated Hermes Unconstrained Credit |
| 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 |
| 3. Fund objectives | |
| Previous fund objective | The investment objective of the fund is to generate a high level of income targeting a high proportion of high yield returns while exhibiting lower volatility relative to the global high yield market. The fund will seek to achieve its objective over a rolling period of any five years, by investing at least 80% in a diversified portfolio of debt securities. |
| New fund objective | The investment objective of the fund is to generate capital growth and a high level of income over the long term. The fund will seek to achieve its objective over a rolling period of any five years, by investing at least 80% in a diversified portfolio of debt securities. |
| 4. Charging structure | |
| Unbundled Fund | |
| Previous AMC | 0.65% |
| New AMC | 0.65% |
| Previous TER | 0.77% |
| New TER | 0.75% |