| Change Details | |
|---|---|
| Title | Thesis Unit Trust Management Limited |
| Type | Mergers |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 19 July 2024 |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | Thesis Unit Trust Management Limited |
| Fund Name | TM CRUX European |
| Type of change | Merger |
| Date merger effective from | 19/07/2024 |
| Date fund closed to all purchases | 04/07/2024 |
| Date fund suspended | 19/07/2024 |
| Deadline for investors to switch out if appropriate | 11:00 on 19/07/2024 |
| Is the event subject to shareholder approval? | Yes |
| 2. Fund details | |
| Current Fund | New Fund |
| TM CRUX European | TM Lansdowne European Special Situations |
| 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 long-term capital growth by investing primarily in equities of European companies. The fund will achieve the investment objective by primarily investing in European (excluding UK) domiciled companies listed on regulated European stock exchanges. The investments will be ordinary shares and other transferable securities including, but not limited to, preference shares and debt securities convertible into ordinary stocks and shares. The fund may also invest in cash, money-market instruments and deposits. The fund will be managed on a concentrated basis in Europe and may also invest outside of Europe if the Investment Manager believes that it should be beneficial for the fund. |
| New objective | To achieve capital growth, net of fees, over 5 year rolling periods by investing in equities of European (excluding the UK) companies in special situations (which may also provide an element of income). The fund aims to achieve the investment objective by investing 80% or more in European listed equities ((ordinary or preference shares) of which up to 5% may be in UK companies (defined as companies incorporated or domiciled in the UK) and which are in special situations). The fund may also invest in debt securities convertible into ordinary stocks and shares, cash, near cash, money-market instruments and deposits. The exposure to European listed equities may fall below 80% under difficult market conditions in which the Investment Manager believes that markets are expensive or when higher volatility is anticipated. This could include (but is not limited to) markets resulting from, or anticipating, extreme events (for example, the 2008 global financial crisis). The fund’s portfolio will be managed on a concentrated basis, meaning the fund will hold typically between 20-40 holdings. The fund will be able to invest without restriction by market cap or sector. |
| 5. Charging structure | |
| Unbundled Fund | |
| Previous AMC | 0.75% |
| New AMC | 0.75% |
| Previous TER | 0.94% |
| New TER | 0.89% |