| Change Details | |
|---|---|
| Title | FIL Investment Services (UK) Limited |
| Type | Other events |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 20 March 2025 |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | FIL Investment Services (UK) Limited |
| Fund Names | Fidelity Sustainable Asia Equity Fidelity Sustainable Emerging Markets Equity Fidelity Sustainable Global Equity Income Fidelity Sustainable MoneyBuilder Income |
| Type of change | Name objective & investment policy Changes |
| Date change effective from | 20/03/2025 |
| Is the event subject to shareholder approval? | No |
| 2. Name, objective & investment policy change details | |
| Current Fund Name | New Fund Name |
| Fidelity Sustainable Asia Equity | Fidelity Responsible Asia Equity |
| Previous objective & investment policy | New objective & investment policy |
| The fund aims to increase the value of your investment over a period of 5 years or more. The fund will invest at least 70% in shares of Asian companies, excluding Japan, which maintain sustainable characteristics. The companies will be either listed, incorporated, domiciled, or have significant business activities in the region. Companies with sustainable characteristics are those which the Investment Manager believes have effective governance and management of environmental and social issues. The remainder will be invested in Asian companies which demonstrate improving sustainable characteristics and may also invest in other investment types such as cash and derivatives. The fund may also use derivatives with the aim of achieving the investment objective. |
The fund aims to increase the value of your investment over 5 years or more. At least 70 % of the fund’s assets are invested in equities of companies listed, headquartered or doing most of their business in Asia* (excluding Japan). This could include investments in countries that are considered emerging markets. The fund may also hold other transferable securities, collective investment schemes, money market instruments, cash & deposits & derivatives for efficient portfolio management purposes. The fund invests at least 80% of its assets in securities of issuers with high ESG ratings. The fund may invest in securities of issuers with low but improving sustainability characteristics. High ESG ratings are those with Fidelity ESG ratings of B or above or in the absence of such rating an MSCI ESG rating of A or above. |
| Current Fund Name | New Fund Name |
| Fidelity Sustainable Emerging Markets Equity | Fidelity Responsible Emerging Markets Equity |
| Previous objective & investment policy | New objective & investment policy |
| The fund aims to increase the value of your investment over a period of 5 years or more. The fund is part of the Fidelity Sustainable Family of funds and adheres to the Fidelity Sustainable Family Framework under which at least 70% of the fund’s net assets will be invested in companies deemed to maintain sustainable characteristics. The fund will invest at least 70% in companies with their head office, or exercising a predominant part of their activity, in Emerging Markets globally including Asia, Latin America, Europe Middle East and Africa according to the MSCI Emerging Markets (Net Total Return) Index and which maintain sustainable characteristics. Companies with sustainable characteristics are those which the Investment Manager believes have effective governance and management of environmental and social issues. Less developed/emerging markets means countries progressing toward becoming advanced, usually shown by some development in financial markets, the existence of some form of stock exchange and a regulatory body. The companies will be either listed, incorporated, domiciled, or have significant business activities in the region. The fund may also obtain exposure to companies which demonstrate improving sustainable characteristics and may also invest in other investment types such as cash and derivatives. The fund aims to hold a concentrated portfolio within a range of 30 - 50 securities. This means that a smaller number of holdings make up a larger percentage of the total fund. A change in the value of any of these holdings may impact the fund and the value of your investment more extensively than if the fund was made up of a larger number of holdings. The fund may also use derivatives with the aim of achieving the investment objective. |
The fund aims to increase the value of your investment over 5 years or more. At least 70% of the fund’s assets are invested in equities (& their related securities) of companies having their head office or exercising a predominant part of their activity in emerging markets globally including Asia, Latin America, Europe, Middle East & Africa according to the MSCI Emerging Markets (Net Total Return) Index. The fund aims to achieve an ESG score for its portfolio greater than the benchmark index (MSCI Emerging Markets (Net Total Return) Index) after the exclusion of the 20% of securities in the benchmark with the lowest ESG ratings. The fund may invest in securities of issuers with lower ESG ratings, including those with low but improving ESG characteristics. The Investment Manager aims to ensure companies held within the fund follow good governance practices. The fund aims to hold a concentrated portfolio of 30-50 companies or other types of investment. The fund may also hold other transferable securities, collective investment schemes, money market instruments, cash & deposits & derivatives for efficient portfolio management purposes. The fund is actively managed. The Investment Manager will consider the MSCI Emerging Markets (Net Total Return) Index for the purposes of selecting investments & monitoring risk, however the Investment Manager has a wide degree of freedom to invest outside the index or take larger or smaller positions relative to it. The Investment Manager takes steps to prevent the fund’s investments from conflicting with the sustainability characteristics by ensuring all assets comply with the Investment Manager’s exclusion framework. Exclusions include exposure to controversial weapons, conventional weapons, semi-automatic-weapons, tobacco, thermal coal, arctic oil & gas, oil s&s, as well as those relating to international norms, such as human rights. Revenue thresholds & transition criteria apply. fund specific exclusions may also be applied. |
| Current Fund Name | New Fund Name |
| Fidelity Sustainable Global Equity Income | Fidelity Responsible Global Equity Income |
| Previous objective & investment policy | New objective & investment policy |
| The fund aims to provide income and long-term capital growth over a period of 5 years or more The fund is part of the Fidelity Sustainable Family of funds and adheres to the Fidelity Sustainable Family Framework under which at least 70% of the fund’s net assets will be invested in issuers deemed to maintain sustainable characteristics. The fund will also adhere to the Fidelity Sustainable Family exclusion policy. The fund will invest at least 70% in the shares of companies globally, which maintain sustainable characteristics. This could include investment in countries considered to be emerging markets as determined by the Investment Manager at its sole discretion. The Investment Manager will choose investments which it believes offer attractive dividend yields in addition to price appreciation. The Investment Manager seeks to identify and select companies with an attractive, sustainable dividend income and/or sustainable income growth. Emerging markets are countries progressing toward becoming advanced, usually shown by some development in financial markets, the existence of some form of stock exchange and a regulatory body. Companies with sustainable characteristics are those which the Investment Manager believes have effective governance and management of environmental and social issues. The fund may also obtain exposure to companies globally which demonstrate improving sustainable characteristics and other transferable securities, collective investment schemes, money market instruments, cash and deposits and is also able to use derivatives for efficient portfolio management (but not on any significant basis). Such investments will be made to take advantage of investment opportunities consistent with the income and growth objectives of the fund. The fund may also take positions which enable it to benefit from falling asset prices. The fund aims to hold a concentrated portfolio, investing in 30-50 companies or other types of investment. |
The fund aims to increase the value of your investment over 5 years or more. At least 70 % of the fund’s assets are invested in equities of companies globally. This could include investments in countries that are considered emerging markets. The fund may also hold other transferable securities, collective investment schemes, money market instruments, cash & deposits & derivatives for efficient portfolio management purposes (but not on any significant basis). The fund invests at least 80% of its assets in securities of issuers with high ESG ratings. The fund may invest in securities of issuers with low but improving sustainability characteristics. High ESG ratings are those with Fidelity ESG ratings of B or above or in the absence of such rating an MSCI ESG rating of A or above. The fund aims to hold a concentrated portfolio of 30-50 securities. The fund aims to have a lower carbon footprint compared to that of the MSCI All Country World Index. The Investment Manager aims to ensure companies held within the fund follow good governance practices. The fund is actively managed. The Investment Manager will consider the MSCI All Country World Index for the purposes of selecting investments & monitoring risk, however the Investment Manager has a wide degree of freedom to invest outside the Index or take larger or smaller positions relative to it. The Investment Manager takes steps to prevent the fund’s investments from conflicting with the sustainability characteristics by ensuring all assets comply with the Investment Manager’s exclusion framework. Exclusions include exposure to controversial weapons, conventional weapons, semi-automatic-weapons, tobacco, thermal coal, arctic oil & gas, oil s&s, as well as those relating to international norms, such as human rights. Revenue thresholds & transition criteria apply. fund specific exclusions may also be applied. The Investment Manager regularly monitors the fund’s holdings to verify compliance with the investment policy & exclusions & reviews the following metrics: (i) The percentage of the fund invested in securities of issuers with high ESG ratings; (ii) There is no exposure to investments that undertake activities that are excluded completely or at a company revenue threshold in accordance with the fund’s investment policy. |
| Current Fund Name | New Fund Name |
| Fidelity Sustainable MoneyBuilder Income | Fidelity MoneyBuilder Corporate Bond |
| Previous objective & investment policy | New objective & investment policy |
| The fund aims to deliver an income with the potential to increase the value of your investment. The fund is part of the Fidelity Sustainable Family of funds and adheres to the Fidelity Sustainable Family Framework under which at least 70% of the fund’s net assets will be invested in issuers deemed to maintain sustainable characteristics. The fund will also adhere to the Fidelity Sustainable Family exclusion policy. Investments may be made in relation to debt instruments issued in currencies other than sterling. Hedging back to sterling aims to reduce the risk of exposure to other currencies. Investments with sustainable characteristics are those which the Investment Manager believes have effective governance and management of environmental and social issues and deliver long term sustainable outcomes through positive societal impact. Such investments are identified through Fidelity’s Sustainable Investing Process, which is built on three related elements; integrated environmental, social and governance ('ESG') analysis, engagement, and collaboration. Sustainable characteristics based on ESG considerations are analysed by Fidelity and principally assessed based on criteria such as but not limited to, climate change mitigation and adaptation, water and waste management and biodiversity, product safety, supply chain, health and safety and human rights. The fund will be at least 70% exposed to sterling denominated (or hedged back to sterling) investment grade debt instruments (e.g. bonds with a rating of BBB-/Baa or higher from an internationally recognised rating agency), has a bias towards corporate bonds, but may also include securitised bonds. The fund may obtain exposure to companies which demonstrate improving sustainable characteristics and may also invest in other investment types such as cash and derivatives. |
The fund aims to deliver an income with the potential to increase the value of your investment. The fund will be at least 70% exposed to sterling-denominated (or hedged back to sterling) investment grade debt instruments. The fund is actively managed. The Investment Manager identifies suitable opportunities for the fund utilising in-house research & investment capabilities. The Investment Manager will, when selecting investments for the fund & for the purposes of monitoring risk, consider the ICE Bank of America Merrill Lynch Euro-Sterling Index. However, the Investment Manager has a wide degree of freedom relative to the index & may invest in issuers, sectors, countries & security types not included in the index in order to take advantage of investment opportunities. This means the fund’s investments & therefore performance may vary significantly from the index. The fund may also obtain exposure to transferable securities, money market instruments, collective investment schemes, cash & near cash & deposits. Derivatives may be used for efficient portfolio management & investment purposes & may include (but are not limited to) derivatives on exchange rates, interest rates, inflation & credit. The fund may also take positions which enable it to benefit from falling asset prices. |