| Change Details | |
|---|---|
| Title | AXA Investment Managers UK Limited |
| Type | Other events |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 14 June 2024 |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | AXA Investment Managers UK Limited |
| Fund Name | AXA Framlington Managed Income (Gross) |
| Type of change | Name & Objective Change |
| Date change effective from | 14/06/2024 |
| Is the event subject to shareholder approval? | No |
| 2. Name change details | |
| Previous fund name | AXA Framlington Managed Income (Gross) |
| New fund name | AXA Managed Income (Gross) |
| 3. Fund objectives | |
| Previous fund objective | To produce a high income with potential for long-term growth of capital. The fund invests primarily in bonds issued by companies (principally UK companies) which the Manager believes will provide above-average income. The fund may also invest in bonds issued by governments and shares of companies. The Manager selects corporate bonds and shares based upon analysis of a company’s financial status, quality of its management, expected profitability and prospects for growth. The fund may also invest in other transferable securities and units in collective investment schemes. The fund may use derivatives for Efficient Portfolio Management. Use may be made of borrowing, cash holdings, hedging and other investment techniques permitted in the applicable Financial Conduct Authority rules. |
| New fund objective | To produce an income return with potential for long-term growth of capital (being a period of five years or more). The fund invests at least 80% in bonds issued in or hedged back to Sterling by companies and governments which the Manager believes will provide an income return. The fund may invest in investment grade bonds (meaning bonds with a rating of at least BBB- by Standard & Poor or equivalent rating by Moody’s or Fitch), or sub-investment grade bonds. The Manager selects bonds based upon analysis of an issuer’s financial status, quality of its management expected profitability and current value relative to other bonds in the market. The Manager seeks to reduce the risk of defaults through diversification and its analysis and selection of bonds. The fund may also invest in shares, other transferable securities (which could include unrated bonds) and units in collective investment schemes (including funds managed by the Manager and its associates). The fund may use derivatives for Efficient Portfolio Management (such as, interest rate futures and foreign exchange swaps). Use may be made of borrowing, cash holdings, hedging and other investment techniques permitted in the applicable Financial Conduct Authority rules. |