| Change Details | |
|---|---|
| Title | Seven Investment Management LLP |
| Type | Mergers |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 22 March 2024 |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | Seven Investment Management LLP |
| Fund Name | 7IM Personal Injury |
| Type of change | Fund Merger |
| Date merger effective from | 22 March 2024 |
| Deadline for investors to switch out if appropriate | 21 March 2024 |
| Is the event subject to shareholder approval? | Yes |
| 2. Merger details | |
| Name of the new fund (the fund that the previous fund is being merged into) | 7IM AAP Cautious |
| 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 | To provide a long-term total return (over at least 5 years) from investment in a range of asset classes. The fund has been designed to be potentially suitable for investment by or on behalf of individuals who have been granted personal injury awards but is not restricted to such persons. The fund invests at least 80% of its assets in a range of collective investment vehicles and securities, which will give an exposure to a range of asset classes, including (but not limited to) UK and overseas equities, government and corporate bonds and warrants and an indirect exposure to asset classes (including but not limited to) hedge funds, currency and property and also by the use of futures contracts which require cover to be held (typically in the form of money market funds and money market instruments). |
| New fund objective | To provide a long-term total return (over at least 5 years) by way of income with some capital growth by investing at least 80% of its assets in a range of collective investment vehicles and securities directly and indirectly, which will give an exposure to a range of asset classes, including (but not limited to) UK and overseas equities, government and corporate bonds and warrants and an indirect exposure to asset classes (including but not limited to) hedge fund strategies, currency and property and also by the use of futures contracts which require cover to be held (typically in the form of money market funds and money market instruments). This exposure is, for the most part, obtained through passive strategies (that is, strategies designed to track the performance of particular indices, market sectors or asset classes). |
| 4. Charging structure | |
| Bundled Fund | |
| Previous AMC | 1.40% |
| New AMC | 0.50% |
| Previous TER | 1.64% |
| New TER | 0.72% |
| Previous Reimbursed Amount (Charge Basis 2) | 0.50% |
| New Reimbursed Amount(Charge Basis 2) | 0.00% |
| Previous Reimbursed Rebate Rate(Charge Basis 3) | 0.90% |
| New Reimbursed Rebate Rate (Charge Basis 3) | 0.00% |
| Unbundled Fund | |
| Previous AMC | 0.50% |
| New AMC | 0.50% |
| Previous TER | 0.74% |
| New TER | 0.72% |
Client correspondence
- 7IM Cautious - Merger - Unbundled clients - CB3 - SAMPLE
- 7IM Cautious Merger - Adviser model - SAMPLE
- 7IM Personal Injury - Merger - Adviser model - SAMPLE
- 7IM Personal Injury - Merger - Bundled clients - CB123 - SAMPLE
- 7IM Personal Injury - Merger - Unbundled clients - CB3 - SAMPLE
- Key Investor Information AAP CAUTIOUS FUND C ACC
- Key Investor Information AAP CAUTIOUS FUND C INC