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Significant fund changes

Important Information

Please read this important information regarding important changes we are making, and planning to make to our Fund Range.

For the Scheme of Arrangements, please note these changes do not impact GBP share classes.

Please note that the current KIID document and prospectuses have not been updated to reflect the changes listed below, so it is important that you read this information in addition to the KIID documents.

March 2020: Notice of temporary dealing suspension

Important information about the Threadneedle Property Unit Trust Luxembourg Feeder SA SICAV-SIF (“the Fund”).

To protect the interests of investors in the Fund, Columbia Threadneedle Investments has temporarily suspended calculation of the Net Asset Value and dealing in Threadneedle Property Unit Trust Luxembourg Feeder SA SICAV SIF (“the Fund”) with effect from 24 March 2020. This means shareholders are temporarily unable to buy or sell units in the Fund. Any requests to transact received following suspension coming in to effect will not been actioned and will not be accepted or queued. This decision has been taken by the Fund Board in consultation with the AIFM and Depositary. The Commission de Surveillance du Secteur Financier (CSSF) has been informed.

Columbia Threadneedle aims to ensure the fair treatment of all investors in our funds, whether they are transacting now or investing for the longer term.

Threadneedle Property Unit Trust Luxembourg Feeder SA SICAV SIF has been suspended due to the fact that calculation of the Net Asset Value and dealing has been suspended in Threadneedle Property Unit Trust (the “Master Fund”). The Fund is a feeder fund in to the Master Fund, which suspended on 24 March following its independent property valuer, CBRE, deploying a ‘market uncertainty clause’, which means that they are unable to provide an appropriate level of certainty regarding the valuation of the Master Fund’s assets in the current exceptional market environment. This is consistent with the approach being taken across the broader industry. In response, we have suspended Threadneedle Property Unit Trust Luxembourg Feeder SA SICAV SIF until such time that a more certain valuation can be ascertained.

The situation is being closely monitored and the decision to suspend will be reviewed regularly.

Arnold Spruit, Chairman of the Board of Directors, said: “We appreciate that suspending Threadneedle Property Unit Trust Luxembourg Feeder SA SICAV SIF may cause some inconvenience for our clients. However, our objective is to protect the interests of investors in the Fund by ensuring the fair treatment of all, whether they are transacting now or investing for the longer term. Our decision to suspend dealing will prevent any shareholders being disadvantaged as a result of those redeeming from the Fund or newly investing in it at an uncertain price. We believe this is an appropriate measure to take to manage the Fund during this period of exceptional uncertainty and we are committed to reviewing our decision regularly.”

Threadneedle Property Unit Trust Luxembourg Feeder SA SICAV SIF indirectly invests in physical UK commercial property. We continue to believe property should form a part of a balanced portfolio for a long-term investor.

We thank our clients for their understanding and patience and will keep them informed via our website www.columbiathreadneedle.com/changes.

Q&A

26 March 2020: Notice of temporary dealing suspension

Important information about the Low-Carbon Workplace (LCW) Fund.

To protect the interests of investors in the Fund, Columbia Threadneedle Investments has temporarily suspended dealing in the Low-Carbon Workplace LP and Threadneedle Low-Carbon Workplace Trust collectively (“the Fund”) with effect from 2pm on 24 March 2020. This decision has been taken by Threadneedle Portfolio Services Limited as manager of the LP (following consultation with the General Partner) and Threadneedle Investments (Channel Islands) Limited as manager of the Trust (following consultation with the trustee). The Jersey Financial Services Commission (JFSC) and the Financial Conduct Authority (FCA) have been informed.

Columbia Threadneedle aims to ensure the fair treatment of all investors in our funds, whether they are transacting now or investing for the longer term.

The Fund has been suspended due to the fact that our independent property valuer, JLL, has deployed a ‘market uncertainty clause’, which means that they are unable to provide an appropriate level of certainty regarding the valuation of the Fund’s assets in the current exceptional market environment. This is consistent with the approach being taken across the broader industry. In response, we have suspended dealings in the Fund until such time that a more certain valuation can be ascertained.

The situation is being closely monitored and the decision to suspend will be reviewed regularly.

Sandy Wilson, fund manager for the Low Carbon Workplace (LCW) Fund, said: “We appreciate that suspending dealings in the Low-Carbon Workplace LP and its feeder, Threadneedle Low-Carbon Workplace Trust, may cause some inconvenience for our clients. However, with the lack of certainty surrounding the valuation of the assets in the fund’s assets this decision means that no unitholders will be disadvantaged, and we can ensure the fair treatment of all. We believe this is an appropriate measure to take during this period of exceptional uncertainty and we will review this decision regularly.”

Low-Carbon Workplace LP Fund invests in physical UK commercial property. We continue to believe property should form a part of a balanced portfolio for a long-term investor.

We thank our clients for their understanding and patience and will keep them informed via our website www.columbiathreadneedle.com/changes.

Q&A

26 March 2020: Notice of temporary dealing suspension

Important information about the Threadneedle Property Unit Trust (“the Fund”).

To protect the interests of investors in the Fund, Columbia Threadneedle Investments has temporarily suspended calculation of the Net Asset Value and dealing in Threadneedle Property Unit Trust (“the Fund”) with effect from 2pm on 24 March 2020. This means unitholders are temporarily unable to buy or sell units in the Fund. Any requests to transact received following suspension coming into effect will not been actioned and will not be accepted or queued. This decision has been taken by the Threadneedle Investments (Channel Islands) Board in consultation with the Trustees. The Jersey Financial Services Commission (JFSC) has been informed.

Columbia Threadneedle aims to ensure the fair treatment of all investors in our funds, whether they are transacting now or investing for the longer term.

Threadneedle Property Unit Trust has been suspended due to the fact that our independent property valuer, CBRE, has deployed a ‘market uncertainty clause’, which means that they are unable to provide an appropriate level of certainty regarding the valuation of the Fund’s assets in the current exceptional market environment. This is consistent with the approach being taken across the broader industry. In response, we have suspended Threadneedle Property Unit Trust until such time that a more certain valuation can be ascertained.

The situation is being closely monitored and the decision to suspend will be reviewed regularly.

Chris Morrogh, fund manager for the Threadneedle Property Unit Trust, said: “We appreciate that suspending Threadneedle Property Unit Trust may cause some inconvenience for our clients. However, our objective is to protect the interests of investors in the Fund by ensuring the fair treatment of all, whether they are transacting now or investing for the longer term. Our decision to suspend dealing will prevent any unitholders being disadvantaged as a result of those redeeming from the Fund or newly investing in it at an uncertain price. We believe this is an appropriate measure to take to manage the Fund during this period of exceptional uncertainty and we are committed to reviewing our decision regularly.”

Threadneedle Property Unit Trust invests in physical UK commercial property. We continue to believe property should form a part of a balanced portfolio for a long-term investor.

We thank our clients for their understanding and patience and will keep them informed via our website www.columbiathreadneedle.com/changes.

Q&A

20 March 2020: Notice of temporary dealing suspension

Important information about the TPEN Property Fund (“the Fund”).

To protect the interests of investors in the Fund, Columbia Threadneedle Investments has temporarily suspended dealing in the Threadneedle Pensions (TPEN) Property Fund (“the Fund”) from 12 noon on 20 March 2020. This means policyholders are temporarily unable to buy or sell shares in the Fund. Any requests to transact after the 11am dealing cut-off on 19 March have not been actioned and new requests will not be accepted. This decision has been taken by the TPEN Board. The Prudential Regulatory Authority (PRA) and the Financial Conduct Authority (FCA) have been informed.

Columbia Threadneedle aims to ensure the fair treatment of all investors in our funds, whether they are transacting now or investing for the longer term.

We have suspended the TPEN Property Fund due to the fact that our independent property valuer, CBRE, has deployed a ‘market uncertainty clause’, which means that they are unable to provide an accurate valuation of the Fund’s assets in the current exceptional market environment. This is consistent with the approach being taken across the broader industry. In response, we have suspended the TPEN Property Fund until such time that an accurate valuation can be ascertained.

We are monitoring the situation closely and will formally review this decision regularly.

Nathan Hargreaves, fund manager for the TPEN Property Fund, said: “We appreciate that suspending the TPEN Property Fund may cause some inconvenience for our pension clients. Our objective is to protect the interests of investors in the Fund by ensuring the fair treatment of all, whether they are transacting now or investing for the longer term. Our decision to suspend dealing will prevent any policyholders being disadvantaged as a result of those redeeming from the Fund or newly investing in it at an inaccurate price. We believe this is an appropriate measure to take to manage the Fund during this period of exceptional uncertainty and we are committed to reviewing our decision regularly.”

The TPEN Property Fund invests in physical UK commercial property. We continue to believe property should form a part of a balanced portfolio for a long-term investor.

We thank our clients for their understanding and patience and will keep them informed via our website www.columbiathreadneedle.com/changes.

Q&A

18 March 2020: Notice of temporary dealing suspension

Please note the suspension was last reviewed on 9 April 2020.

Important information about the Threadneedle UK Property Authorised Investment Fund (Threadneedle PAIF) and its Feeder Fund, Threadneedle UK Property Authorised Trust (Feeder Fund) (“the Fund”).

To protect the interests of investors in the funds, Columbia Threadneedle Investments has temporarily suspended dealing in the Threadneedle UK Property Authorised Investment Fund (Threadneedle PAIF) and the Threadneedle UK Property Authorised Trust (Feeder Fund) from 12 noon on 18 March 2020. This means investors are temporarily unable to buy or sell shares in the Threadneedle PAIF or its Feeder Fund. Any requests to transact after 12 noon on 17 March have not been actioned and new requests will not be accepted. We have taken this action following discussions with the funds’ depositary, Citibank Europe Plc, UK Branch. The Financial Conduct Authority (FCA) has been notified.

Columbia Threadneedle aims to ensure the fair treatment of all investors in our funds, whether they are transacting now or investing for the longer-term. The suspension of the Threadneedle PAIF is consistent with the FCA’s upcoming rules which require a fund to suspend if more than 20% of its assets cannot be accurately valued.

The Threadneedle PAIF’s independent property valuer, CBRE, has deployed a ‘market uncertainty clause’ which means that they are unable to provide an accurate valuation of the PAIF’s assets in the current exceptional market environment. This is consistent with the approach being taken across the broader industry. In response, we have suspended the Threadneedle PAIF and its Feeder Fund until such time that an accurate valuation can be ascertained. We are monitoring the situation closely and will formally review this decision every 28 days with our depositary.

Gerry Frewin, fund manager for the Threadneedle UK Property Authorised Investment Fund, said: “Our objective is to protect the interests of investors in the fund, by always ensuring the fair treatment of all investors, whether they are transacting now or investing for the longer-term. While we appreciate this may cause some inconvenience, our decision to suspend dealing will prevent any investors being disadvantaged as a result of those redeeming from the fund or investing new money into the fund at an inaccurate price. Consistent with FCA guidance, we believe this is an appropriate measure to take to manage the fund during this period of exceptional uncertainty. We thank our investors for their patience and will continue to provide updates to keep you informed.”

The Threadneedle PAIF and its Feeder Fund invest in physical UK commercial property such as warehouses, shopping centres, high street shops and offices around the UK. We continue to believe property should form a part of a balanced portfolio for a long term investor.

We thank our clients for their understanding and patience and will keep them informed via our website www.columbiathreadneedle.com/paif.

Q&A

Managed Funds Range Changes: New composite indices, Reduction of fees & Compulsory conversion clause

From 7 May 2020 we will be making changes to the following funds (“Funds”):

  • Threadneedle Managed Bond Fund
  • Threadneedle Managed Bond Focused Fund
  • Threadneedle Managed Equity & Bond Fund
  • Threadneedle Managed Equity Focused Fund
  • Threadneedle Managed Equity Fund

New composite indices – The changes include enhancing the Funds’ investment objective by including a benchmark index within each Fund’s investment objective. Reduction of fees – Following a review of the fees and charges that apply to the Funds, we will reduce the annual management fees on some unit classes and reduce the ongoing charges figure across all unit classes as set out in the appendix ‘Schedule of Fees’. Compulsory conversion clause – We have decided to include a compulsory conversion clause in the prospectus with effect from 1 March 2020. This will allow us to convert unit holdings from one unit class to another unit class in the same fund, where it is in investors’ best interests. Please refer to the other relevant Q&A’s for further information on Compulsory Conversion clause, Transfer to cheaper share class and Withdrawal of Loyalty Bonus arrangements.

Corporate letter

Q&A

Prospectus Changes: Compulsory Conversion Clause

We have decided to include a compulsory conversion clause in the prospectus of the Threadneedle Managed Funds and the Threadneedle UK Property Authorised Trust with effect from 1 March 2020. This will allow us to convert unit holdings from one unit class to another unit class in the same fund, where it is in investors’ best interests.

Q&A

Discontinuation of Performance Fees

Effective from 1 January 2020, we have discontinued charging performance fees on the following funds (“the Funds”):

  • Threadneedle UK Absolute Alpha Fund
  • Threadneedle American Extended Alpha Fund
  • Threadneedle Global Extended Alpha Fund
  • Threadneedle UK Extended Alpha Fund
  • Threadneedle (Lux) American Extended Alpha
  • Threadneedle (Lux) Global Extended Alpha

Q&A

Investment objective and policy updates

We have recently reviewed the information available to investors about our UK-based OEIC (open-ended investment company) funds and, as a result, we’re updating a number of our fund investment objectives and policies. This will provide investors with additional information regarding our investment approach. These updates will take effect from 7 August 2019.

Corporate letter

Q&A

Important changes to the Threadneedle UK Corporate Bond Fund

From 31 August 2019, we are making changes to the name and investment objective and policy of the Threadneedle UK Corporate Bond Fund. The changes include:

  • Changing its name to Threadneedle Sterling Corporate Bond Fund
  • Broadening and clarifying the wording used to describe the investment objective and policy

Corporate letter

Q&A

Important changes to the Threadneedle Dynamic Real Return Fund

From 1 August 2019, we are making changes to the Threadneedle Dynamic Real Return Fund. The changes include broadening and clarifying the wording used to describe the investment objective and policy of the Fund.

Corporate letter

Q&A

Changes to the Threadneedle Managed Funds range

From the 5 August 2019, we are making changes to the Threadneedle Managed Funds range:

  • Threadneedle Managed Bond Fund
  • Threadneedle Managed Bond Focused Fund
  • Threadneedle Managed Equity & Bond Fund
  • Threadneedle Managed Equity Focused Fund
  • Threadneedle Managed Equity Fund

The change involves some amendments to the wording of the objective and policy of the Funds to provide more clarity of how the funds are invested. Also, each of the Funds will show comparator benchmarks that can be used to measure their performance.

Corporate letter

Q&A

Significant Fund Changes: Absolute Return Bond Fund

We are closing the Threadneedle Absolute Return Bond Fund on the 26 July 2019.

The Fund is being closed due to its relatively small size. The Fund’s assets have fallen to a level which makes it economically unviable to manage. We believe the closure is in the best interests of investors. To this end, we will be closing the fund on the 26 July 2019 (the Effective Date) and dealing in the Fund will be suspended from 12.01pm on 23 July 2019.

Please see the Shareholder Notification and Q&A for further details.

Corporate letter

Q&A

Significant Fund Changes: Ethical UK Equity Fund

From the 1 July 2019, we are making changes to the Ethical UK Equity Fund. The changes are:

  • An amendment to the investment objective and policy to reflect the Fund’s positive focus on sustainability and to clarify how the Fund is managed;
  • Change of Fund name to “UK Sustainable Equity Fund” to reflect the changes to the objective and policy;
  • Change of benchmark to the FTSE All Share index.

Corporate letter

Brochure

Sustainable Investment Guidelines

Significant Fund Changes: UK Overseas Earnings Fund

From the 1 July 2019, we are making changes to the name and the investment objective and policy of the UK Overseas Earnings Fund. The changes include:

  • Changing its name to UK Equity Opportunities Fund
  • Broadening and clarifying the wording used to describe the investment objective and policy and includes the addition of the performance benchmark for the purposes of performance comparison.

Corporate letter

Q&A

Important changes to the Threadneedle UK Property Authorised Investment Fund and the Threadneedle UK Property Authorised Trust

We have written to investors in the Threadneedle UK Property Authorised Investment Fund and the Threadneedle UK Property Authorised Trust, to let them know that with effect from 12/04/2019, the Funds will change from being dual priced on a quoted-spread basis to being dual priced on a full-spread basis. Further information can be found below.

Corporate letter

Property Pricing Explained

Important information about the Threadneedle Japan Fund

We would like to inform you that due to a ten-day ‘Golden Week’ holiday period in Japan this year, non-dealing days will be declared on the Threadneedle Japan Fund from Friday 26 April until Monday 6 May 2019 inclusive. This means that investors will be unable to buy, sell, ISA transfer or switch shares in the Fund during this period until it reopens for dealing on Tuesday 7 May 2019. Further information can be found below.

Corporate letter

Co-management and Delegation Arrangements

From the 21 May 2019, we are making changes to the TIF Asia Fund, TSIF China Opportunities Fund and TSIF Global Emerging Markets Equity Fund.

The Funds are currently managed by Threadneedle Asset Management Limited (TAML), the investment manager of the Funds. The changes are as follows:

  • Threadneedle Asia Fund and Threadneedle China Opportunities Fund (co-management) TAML will delegate some of its investment decisions to Threadneedle Investments Singapore (Pte.) Limited (TIS) for the Threadneedle Asia Fund and Threadneedle China Opportunities Fund. This will allow both co-managers and deputy managers from the Singapore office for these funds working in collaboration with TAML appointed fund managers.
  • Threadneedle Global Emerging Markets Equity Fund Columbia Management Investment Advisers, LLC (CMIA) will become the investment manager for the Threadneedle Global Emerging Markets Equity Fund. TAML will no longer be the investment manager but will continue to provide investment advice and recommendations in relation to the Fund. This change will allow both lead and deputy managers from the US offices for this Fund.

Corporate letter

Q&A

Important changes to the threadneedle sterling fund

In accordance with new European regulations, we have received authorisation from the Financial Conduct Authority, for the Threadneedle Sterling Fund to be categorised as a Short-Term VNAV Money Market Fund. To reflect the Fund’s new status, we will be making the following changes to the Fund, with effect from 1 May 2019.

  • Changing its name to “Threadneedle Sterling Short-Term Money Market Fund”.
  • Broadening and clarifying the wording used to describe the investment policy; including addition of the performance benchmark for the purposes of performance comparison.

Corporate letter

Q&A

Threadneedle American Select Fund OEIC

From the 15 April 2019, we are making changes to the investment objective and policy of the Threadneedle American Select Fund. The new wording will make clear that at least 75% of the Fund will be invested in companies based specifically in the United States (US), or with significant US business operations. At the same time, the management team will be able to invest up to 25% of the Fund in companies outside the US.

Corporate letter

Q&A

Scheme of arrangement: The C429

We recently informed you that we will transfer the assets of certain share classes of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range. Please note these changes do not impact GBP share classes.

  • American Extended Alpha Fund
  • Asia Fund
  • Global Extended Alpha Fund
  • Global Select Fund
  • UK Absolute Alpha Fund

We are pleased to confirm that the transfers have now been successfully completed. Further information can be found below.

Investor letter

Q&A

Property pricing change

On 13 December 2018, Columbia Threadneedle Investments changed the pricing of the dual-priced Threadneedle UK Property Authorised Investment Fund and the Threadneedle UK Property Authorised Investment Trust from being priced on an offer basis to being priced on a bid basis.

This is to reflect the impact of transaction costs given market uncertainty and ensures the fair treatment of all our clients.

Scheme of arrangement: The Lux funds

We recently informed you that we will transfer the assets of certain share classes of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range. Please note these changes do not impact GBP share classes.

  • American Smaller Companies Fund (US)
  • European Smaller Companies Fund
  • Global Emerging Markets Equity Fund
  • Global Equity Income Fund

We are pleased to confirm that the transfers have now been successfully completed. Further information can be found below.

Corporate letter

Q&A

Scheme or arrangement EGM update

We recently informed you of our proposal to transfer the assets of certain share classes of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range. Following the shareholder vote at the extraordinary general meetings held on 12 December 2018, we can confirm that the proposed transfers have now been approved.

  • American Extended Alpha Fund
  • Asia Fund
  • Global Extended Alpha Fund
  • Global Select Fund
  • UK Absolute Alpha Fund

We are pleased to confirm that the transfers have now been successfully completed. Further information can be found below.

Corporate letter

Q&A

Scheme of arrangement: The Lux funds

We recently informed you that we will transfer the assets of certain share classes of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range. Please note these changes do not impact GBP share classes.

  • American Smaller Companies Fund (US)
  • European Smaller Companies Fund
  • Global Emerging Markets Equity Fund
  • Global Equity Income Fund

We are pleased to confirm that the transfers have now been successfully completed. Further information can be found below.

Corporate letter

Q&A

Scheme of arrangement: The Lux funds

We recently informed you that we will transfer the assets of certain share classes of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range. Please note these changes do not impact GBP share classes.

  • American Fund
  • American Select Fund
  • European Select Fund
  • UK Equity Income Fund
  • UK Fund

We are pleased to confirm that the transfers have now been successfully completed. Further information can be found below.

Corporate letter

Q&A

Transfer of customer assets (Scheme of arrangement)

We have written to investors about a proposed change to the following funds.

  • American Extended Alpha Fund
  • Asia Fund
  • Global Extended Alpha Fund
  • Global Select Fund
  • UK Absolute Alpha Fund

We are planning to transfer the assets of investors in certain share classes of each fund listed above into an equivalent share class within our established Luxembourg fund range. Please note these changes do not impact GBP share classes. The transfers will be made by a process called a scheme of arrangement.

Find out more

Scheme of Arrangement EGM update

We recently informed you of our proposal to transfer the assets of certain share classes of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range. Please note these changes do not impact GBP share classes.

  • American Smaller Companies Fund (US)
  • European Smaller Companies Fund
  • Global Emerging Markets Equity Fund
  • Global Equity Income Fund

Following the shareholder vote at the extraordinary general meetings, the results of the vote are detailed in the investor letter below.

Corporate Letter

Q&A

Cross-border Mergers: Threadneedle Credit Opportunities Fund

We recently informed you that we will transfer the assets of the Threadneedle Credit Opportunities Fund into Threadneedle (Lux) – Credit Opportunities, an equivalent fund within our established Luxembourg fund range. We are pleased to confirm that the transfer was successfully completed on 20 October 2018. Further information can be found below.

Corporate Letter

Q&A

Scheme of Arrangement EGM update

We recently informed you of our proposal to transfer the assets of certain share classes of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range. Please note these changes do not impact GBP share classes. Following the shareholder vote at the extraordinary general meetings held on 10 October 2018, we can confirm that the proposed transfers have now been approved.

  • American Fund
  • American Select Fund
  • European Select Fund
  • UK Equity Income Fund
  • UK Fund

We will be communicating with all impacted clients and outlining the options available to them ahead of the merger date.

Corporate Letter

Q&A

Cross-border Mergers: The Lux Funds

We recently informed you that we will transfer the assets of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range (the “Lux Funds”). We are pleased to confirm that the transfers have now been successfully completed.

  • European Corporate Bond Fund
  • European High Yield Bond Fund
  • Pan European Fund
  • Pan European Smaller Companies Fund
  • Pan European Equity Dividend Fund

Further information can be found below.

Corporate Letter

Q&A

Proposed closure of Threadneedle Global Opportunities Bond Fund

The FCA has authorised the closure of the Threadneedle Global Opportunities Bond Fund. The Fund has fallen to a value that means it is no longer viable to manage. As a result, we believe the closure of the Fund is in the best interests of investors. The Fund will close on 9 January 2019.

Corporate Letter

Q&A

Transfer of customer assets (Scheme of arrangement)

We have written to investors about a proposed change to the following funds.

  • American Smaller Companies Fund (US)
  • European Smaller Companies Fund
  • Global Emerging Markets Equity Fund
  • Global Equity Income Fund

We are planning to transfer the assets of investors in certain share classes of each fund listed above into an equivalent share class within our established Luxembourg fund range. Please note these changes do not impact GBP share classes. The transfers will be made by a process called a scheme of arrangement.

Find out more

Transfer of customer assets (Scheme of arrangement)

We have written to investors about a proposed change to the following funds.

  • American Fund
  • American Select Fund
  • European Select Fund
  • UK Equity Income Fund
  • UK Fund

We are planning to transfer the assets of investors in certain share classes of each fund listed above into an equivalent share class within our established Luxembourg fund range. Please note these changes do not impact GBP share classes. The transfers will be made by a process called a scheme of arrangement.

Find out more

Cross-border merger EGM update

We recently informed investors of our proposal to transfer the assets of each fund listed below (the “Existing Funds”) into an equivalent fund within our established Luxembourg fund range (the “Lux Funds”). Following the shareholder vote at the extraordinary general meetings (EGMs) held on 24 August 2018, we can confirm that the transfers have been approved for all the affected funds.

  • European Corporate Bond Fund
  • European High Yield Bond Fund
  • Pan European Fund
  • Pan European Smaller Companies Fund
  • Pan European Equity Dividend Fund
  • Credit Opportunities Fund

We will be communicating with all impacted clients and outlining the options available to them ahead of the merger date.

Corporate letter

Q&A

Transfer of customer assets (Cross-border merger)

We recently informed investors of our proposal to transfer the assets of each fund listed below (the “Existing Funds”) into an equivalent fund within our established Luxembourg fund range (the “Lux Funds”). Following the shareholder vote at the extraordinary general meetings (EGMs) held on 24 August 2018, we can confirm that the transfers have been approved for all the affected funds.

  • European Corporate Bond Fund
  • European High Yield Bond Fund
  • Pan European Fund
  • Pan European Smaller Companies Fund
  • Pan European Equity Dividend Fund
  • Credit Opportunities Fund

We are planning to transfer the assets of each fund listed above into an equivalent fund within our established Luxembourg fund range. The transfer will be made by a process called a ‘cross-border merger’.

Find out more