| Change Details | |
|---|---|
| Title | TM CRUX European Special Situations |
| Type | Objective and policy changes |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 18 March 2024 |
| Change Details | Name & objective change |
| 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 Special Situations |
| Type of change | Name & Objective Change |
| Date change effective from | 18/03/2024 |
| Is the event subject to shareholder approval? | No |
| 2. Name change details | |
| Previous fund name | TM CRUX European Special Situations |
| New fund name | TM Lansdowne European Special Situations |
| 3. Fund objectives | |
| Previous fund objective | To achieve long term capital growth by investing in European (excluding the UK) equities of companies in special situations. The fund aims to achieve its objective primarily through investment in equity securities of European companies in special situations where it is believed the company is considered undervalued. The fund’s portfolio will be managed on a concentrated basis. The fund will be able to invest without restriction by market cap or sector. The fund may also invest in other transferable securities money market instruments, cash and near cash and deposits. The use of derivatives is permitted by the fund for efficient portfolio management purposes (including hedging), and borrowing will be permitted under the terms of the Regulations. On giving 60 days' notice to shareholders, the fund may, in addition to its other investments powers, use derivatives and forward transaction for investment purposes. It is not intended that the use of derivatives in this way will change the risk profile of the fund. Investors should note that while the investment objective of the fund is to achieve long term capital growth there may be situations in which an income return is also achieved. |
| New fund 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 (as defined in the investment strategy below)). 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. The fund may also invest up to 20% outside of Europe if the Investment Manager believes that it should be beneficial for the fund. The use of derivatives is permitted by the fund for efficient portfolio management purposes (including hedging), and borrowing will be permitted under the terms of the Regulations. It is not intended that the use of derivatives in this way will change the risk profile of the fund. The fund’s use of derivatives is expected to be limited. |