Corporate notifications

    Date   Type of action   What is happening? Our view
   
April 2022
Dimensional AMC & OCF Change - Dimensional   We have received notification from Dimensional that the AMC and OCF Charge for the below funds will be changed on 01.04.2022. |Dimensional UK Value Inc/Acc - Annual Management Charge changing from 0.30% to 0.27% - OCF Charge changing from 0.37% to 0.34%| |Dimensional UK Smll Cos Inc/Acc - Annual Management Charge changing from 0.45% to 0.40% - OCF Charge changing from 0.51% to 0.46%| |Dimensional Intl Value Inc/Acc - Annual Management Charge changing from 0.30% to 0.27% - OCF Charge changing from 0.36% to 0.33%| |Dimensional Emer Mkts Cr Eq Inc/Acc - Annual Management Charge changing from 0.38% to 0.36% - OCF Charge changing from 0.47% to 0.45%| |Dimensional Gbl Sht Date Bd Inc/Acc - Annual Management Charge changing from 0.22% to 0.21% - OCF Charge changing from 0.25% to 0.25%| |Dimensional UK Core Equity Inc/Acc - Annual Management Charge changing from 0.16% to 0.15% - OCF Charge changing from 0.21% to 0.20%| |Dimensional Europ Sm Cos C - Annual Management Charge changing from 0.45% to 0.40% - OCF Charge changing from 0.53% to 0.48%| |Dimensional US Small Cos C - Annual Management Charge changing from 0.33% to 0.28% - OCF Charge changing from 0.41% to 0.36%| |Dimensional Euro Sm Cos D - Annual Management Charge changing from 0.45% to 0.40% - OCF Charge changing from 0.53% to 0.48%| |Dimensional US Small Cos D - Annual Management Charge changing from 0.33% to 0.28% - OCF Charge changing from 0.41% to 0.36%| |Dimensional Pac Bas Sm Cos D - Annual Management Charge changing from 0.45% to 0.40% - OCF Charge changing from 0.59% to 0.54%| |Dimensional Emer Mkts Val C - Annual Management Charge changing from 0.44% to 0.41% - OCF Charge changing from 0.52% to 0.49%| |Dimensional Emer Mkts Val D - Annual Management Charge changing from 0.44% to 0.41% - OCF Charge changing from 0.52% to 0.49%| |Dimensional Euro Value D GBP - Annual Management Charge changing from 0.30% to 0.27% - OCF Charge changing from 0.38% to 0.35%| |Dimensional Gbl Targ Val C GBP & D GBP - Annual Management Charge changing from 0.45% to 0.40% - OCF Charge changing from 0.49% to 0.44%| |Dimensional Global Value A GBP & I GBP - Annual Management Charge changing from 0.30% to 0.27% - OCF Charge changing from 0.35% to 0.32%| |Dimensional Gbl Small Cos Inc/Acc - Annual Management Charge changing from 0.37% to 0.33% - OCF Charge changing from 0.42% to 0.38%| |Dimensional GblST InvGrdFxIn Acc/Inc - Annual Management Charge changing from 0.22% to 0.21% - OCF Charge changing from 0.26% to 0.25%| |Dimensional GblCreFxdInc Acc GBP - Annual Management Charge changing from 0.24% to 0.23% - OCF Charge changing from 0.28% to 0.27%| |Dimensional GblSust Fxd Inc AGBP - Annual Management Charge changing from 0.24% to 0.23% - OCF Charge changing from 0.29% to 0.28%| |Dimensional Gbl Sust Fxd Inc - Annual Management Charge changing from 0.24% to 0.23% - OCF Charge changing from 0.29% to 0.27%|  
   
April 2022
LF Majedie fund Range Name Change - LF Majedie fund Range   We have received a notification from LF Majedie informing us that the name of the below fund is changing as of 01.04.2022. |LF Majedie UK Focus X A changing to LF Liontrust UK Focus X A| |LF Majedie UK Income X I changing to LF Liontrust UK Income X I| |LF Majedie UK Income X A changing to LF Liontrust UK Income X A| |LF Majedie UK Focus X I changing to LF Liontrust UK Focus X I| |LF Majedie UK Equity X A changing to LF Liontrust UK Equity X A| |LF Majedie UK Equity X I changing to LF Liontrust UK Equity X I| |LF Majedie Global Equity X Acc changing to LF Liontrust Global Equity X Acc| |LF Majedie Global Focus X Acc changing to LF Liontrust Global Focus X Acc|  
   
April 2022
FFP Octopus Merger - FFP Octopus   We have received a notification from FP Octopus informing us of a Merger involving the funds listed below. The effective date of the Merger is 14.04.2022. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 07.04.2022. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |FP Octopus UK Eq B Acc| |FP Octopus Fixed Inc B Acc changing to Volare Defensive A Acc| |FP Octopus Dyn Mixed B Acc changing to Volare Defensive A Acc| |FP Octopus Intnl Eq B Acc| |FP Octopus Global Growth B| |FP Octopus Gbl Strat B changing to Volare Defensive A Acc|  
   
April 2022
M&G Japan Fund and Japan Smaller Companies Fund OCF Change - M&G Japan Fund and Japan Smaller Companies Fund   We have received a notification from M&G that the OCF charge for the below funds will be changed from 27.04.2022. |M&G Japan Smaller Cos I Inc - OCF changing from 0.90% to 0.70%| |M&G Japan I Inc - OCF changing from 0.90% to 0.55%| |M&G Japan I Acc - OCF changing from 0.90% to 0.55%| |M&G Japan Smaller Cos I Acc - OCF changing from 0.90% to 0.70%|  
   
April 2022
Trojan Ethical Income Fund O Acc (GB00BYMLFK38) Investment Policy and Objective Change   Troy Asset Management Limited, the investment manager of the Fund, is to implement a climate change motigation policy, whereby the investment Manager must consider the greenhouse gas emissions and asspociated mitigation straegies of the Fund's investee companies.   
   
April 2022
Trojan Income Fund (GB00BZ6CQ176) Fund Changes   To implement a climate change mitigation policy. It will bind the fund to a process whereby the manager must consider the GHG emissions, and also will seek to drive changes in the behaviour of investee companies through stewardship, inclusing voting and engagement.   
   
April 2022
M&G Japan Fund and Japan Smaller Companies Fund OCF Change - M&G Japan Fund and Japan Smaller Companies Fund   We have received a notification from M&G that the OCF charge for the below funds will be changed from 27.04.2022. |M&G Japan Smaller Cos I Inc - OCF changing from 0.90% to 0.70%| |M&G Japan I Inc - OCF changing from 0.90% to 0.55%| |M&G Japan I Acc - OCF changing from 0.90% to 0.55%| |M&G Japan Smaller Cos I Acc - OCF changing from 0.90% to 0.70%|  
   
April 2022
BlackRock European Opportunities Extension Fund Lifting of Soft-Closure - BlackRock European Opportunities Extension Fund   We have received a notification from Blackrock that they have decided to lift the soft closure for the below fund. This means that as of the Effective Date, requests to subscribe for, and/or convert from another fund into, shares of the Fund by a Shareholder (and any new investor) will be permitted. |BlackRock SF Eur Opp Ext D4| Please note this will impact model portfolios and the fund has been fully opened.  
   
April 2022
JPM Global Macro Fund C Net Acc (GB00B235HC61) Name Change and Fund Change   The ACD believes a sustainable investment approach that seeks to provide the majority of its returns by investing in a portfolio of Sustainable Securities may offer better prospects for growth as demand for sustainable products continues to grow. This growth can lead to economies of scale with the potential for lower fund expenses.  
   
April 2022
Clinigen Group PLC Fund Fund Closure - Clinigen Group PLC Fund   We have received a notification from Winterfloods informing us that on 05.04.2022 they closed the Clinigen Group Plc Fund. All holdings on the effective date will be compulsorily redeemed. |ClinigenGroupPLCOrd0.1P| Please note, the funds have been closed to buys and sells with immediate effect. Any model portfolios that contain the Fund will become invalid and need to be updated.  
   
April 2022
Winterflood - International Public Partnership Open Offer - Winterflood - International Public Partnership   We have received a notification from Winterflood informing us that the below asset will be going through an Open Offer. The terms are 1 new ordinary share of GBP0.0001 for every 12 existing shares held at GBP1.595 per share. Excess applications may be subject to scale back. Please note that this is only applicable if the offer was taken up. If the offer was taken up, a compulsory purchase of units will be carried out. |Intl Public Ord 0.01p| Please note this will impact model portfolios.  
   
April 2022
Japanese Golden Week Temporary Suspension Japanese Golden Week Temporary Suspension   Various notifications have been received in relation to the Japanese Golden Week holiday which has been declared in Japan. As a result of this, Japanese stock markets will be closed throughout the period and a number of funds are subsequently being temporarily suspended from 29/04/2022 to the 05/05/2022. Please note this will impact model portfolios.  
    March 2022 Kibo Energy Plc Ord Shares EUR 0.001 (IE00B97C0C31) Suspension   Document not available  
    March 2022 Artemis European Sustainable Growth Fund I Acc GBP (GB00B6WFCR53) Name Change and Fund Change   Other than the name change and introduction of exclusions as part of the investment process, the investment strategy and key features of the Fund will not be changing as a result.  
    March 2022 Legal & General Asia Pacific Equity Income I Acc (GB00B409KQ03) Name Change   The changes are being made following an internal review of the Fund and are designed to deliver clearer fund objectives and outcomes for our investors, in order to enhance the investment experience for both existing and prospective unitholders  
    March 2022 Premier Miton Diversified Sustainable Growth Fund B Acc Name Change and Fund Change   With effect from 01 March 2022, we will be making a change to the fund’s name and updating the investment policy and strategy within the prospectus.  
    March 2022 Invesco Latin American Fund Name Change - Invesco Latin American Fund   We have received a notification from Invesco informing us that the name of the below funds are changing as of 31.03.2022. |Invesco Latin America Z Acc changing to Invesco Emerging Markets ex China Z Acc| |Invesco Latin America Z Inc changing to Invesco Emerging Markets ex China Z Inc|  
    March 2022 L&G UK Special Situations Trust Merger - L&G UK Special Situations Trust   We have received a notification from Legal & General informing us of a Merger involving the funds listed below. The effective date of the Merger is 25.03.2022. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 18.03.2022. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |L&G UK Special Sits Inst Acc changing to L&G UK Select Equity I Acc|  
    March 2022 Fidelity Emerging Europe, Middle East and Africa Fund Name Change - Fidelity Emerging Europe, Middle East and Africa Fund   We have received a notification from Fidelity informing us that the name of the below funds are changing as of 23.03.2022. |Fidelity Emg Eur Mid East & Africa changing to Fidelity Sus Emg Markts A Acc| |Fidelity EmEur Md Et Af W Acc changing to Fidelity Sus Emg Markts W Acc|  
    March 2022 Fidelity Soft Closure - Fidelity   We have received a notification from Fidelity stating that they have decided to soft close the below fund on 22.03.2022. They are doing so because the war in Ukraine has had a significant impact on market trading and liquidity conditions for Russian securities across some of their portfolios. |Fidelity EmEur Md Et Af W Acc|  
    March 2022 Marlborough Global Innovation AMC Change - Marlborough Global Innovation   We have received notification from IFSL Marlborough that the annual management charge for the below funds will change on 21.03.2022. |IFSL Marlborough Global Innovation Fund P Acc - AMC Changing from 0.85% to 0.75%|  
    March 2022 L&G Asian Income Trust Name Change - L&G Asian Income Trust   We have received a notification from Legal & General to advise that the name for the below funds will change on 17.03.2022. |L & G Asian Income R Dist changing to L&G Asian Pac Equty Inc R Dist| |L & G Asian Income R Acc changing to L&G Asian Pac Equty Inc R Acc| |L&G Asian Income I Acc changing to L&G Asian Pac Equty Inc I Acc| |L&G Asian Income I Inc changing to L&G Asian Pac Equty Inc I Inc|  
    March 2022 Winterflood - Strategic Equity Capital plc Tender Offer - Winterflood   We have received a notification from Winterfloods informing the below asset will be going through a Tender Offer. The company is proposing a tender offer for up to 10% of the company’s share capital at a price of the NAV less costs. Holders can tender all or any of their shares with a basic entitlement of 10% of their holding. Excess applications may be subject to scale back. Please note that this is only applicable is the offer was taken up. If the offer was taken up, compulsory redemption of units will be carried out. |Strategic Equity Capital plc|  
    March 2022 Royal London Cash Plus Name Change - Royal London Cash Plus   We have received a notification from Royal London to advise that the name for the below funds will change on 14.03.2022. |Royal London Cash Plus M Inc changing to RL Shrt Trm Fxd Inc M Inc| |Royal London Cash Plus Y Inc changing to RL Shrt Trm Fxd Inc Y Inc| |Royal London Cash Plus Y Acc changing to RL Shrt Trm Fxd Inc Y Acc| |Royal London Enhncd Csh + Y Acc changing to RL Shrt Trm Fxd Inc Enh Y Acc| |Royal London Enhncd Csh Y Inc changing to RL Shrt Trm Fxd Inc Enh Y Inc|  
    March 2022 Invesco Emerging European (UK) Fund Closure - Invesco Emerging European (UK)   We have received a notification from Invesco informing us that on 11.03.2022 they will be closing the Invesco Emerging European (UK) fund. All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to Buys and Sells on 04.03.2022. Any model portfolios that contain the Fund will become invalid and need to be updated. |Invesco Emerging Eurpn Z Acc| |Invesco Emerging Eurpn Z Inc|  
    March 2022 Artemis Name Change - Artemis   We have received notification from Artemis that the name for the below funds will be changing. |Artemis European Opps I Acc changing to Artemis European Sus Grwth I Acc| |Artemis European Opps I Hedge Acc changing to Artemis European Sus Grwth I Hedge Acc| |Artemis European Opps I Inc changing to Artemis European Sus Grwth I Inc|  
    March 2022 Janus Henderson UK Property PAIF Suspension and Fund Closure - Janus Henderson UK Property PAIF   A notification has been received from Janus Henderson informing us that the UK Property PAIF Funds have been temporarily suspended from trading. This is so that they can close the fund in the near future. The suspension is effective immediately and as a result the funds have been closed to buys and sells from today. Any model portfolios which contain the Fund will be impacted. We have been notified that Janus Henderson are expecting the sale of the fund’s assets to be sold by the end of April 2022. Updates will be provided as they are received. |Janus Henderson UKPrpPAIFFd I I| |Janus Henderson UKPrpPAIFFd I A| |Janus Henderson UKPrpPAIFFd U2 A|  
    March 2022 iShares MSCIRusADRGDRUETF Suspension - iShares MSCIRusADRGDRUETF   A notification has been received from iShares informing us that the MSCI Russia ETF has been temporarily suspended from trading due to the escalating conflict between Russia and the Ukraine. The suspension is effective immediately and as a result the funds have been closed to buys and sells from today. Any model portfolios which contain the Fund will be impacted. At this time we have not been given any indication of when the suspension may be lifted, however updates will be provided as they are received. |iShares MSCIRusADR/GDRUETF|  
    March 2022 Xtrackers MSCI Russia ETF Fund Suspension of Dealing - Xtrackers MSCI Russia ETF Fund   A notification has been received stating the Xtrackers MSCI Russia ETF Fund is currently suspended for dealing. As a result the funds have been closed to buys and sells with immediate effect. Any model portfolios which contain the Fund will be impacted. As yet, we have not been given any indication of when the suspension may be lifted, however updates will be provided as they are received.  
    March 2022 Jupiter Emerging Europe Opportunities Suspension - Jupiter Emerging Europe Opportunities   A notification has been received from Jupiter informing us that the Emerging Europe Opportunities Funds have been temporarily suspended from trading due to the escalating conflict between Russia and the Ukraine. The suspension is effective immediately and as a result the funds have been closed to buys and sells from today. Any model portfolios which contain the Fund will be impacted. At this time we have not been given any indication of when the suspension may be lifted, however updates will be provided as they are received. |Jupiter Emerging Euro Opps I Acc|  
    March 2022 Invesco Emerging Europe Fund Suspension - Invesco Emerging Europe Fund   A notification has been received from Invesco informing us that the Emerging Europe Funds have been temporarily suspended from trading due to the escalating conflict between Russia and the Ukraine. The suspension is effective immediately and as a result the funds have been closed to buys and sells from today. Any model portfolios which contain the Fund will be impacted. At this time we have not been given any indication of when the suspension may be lifted, however updates will be provided as they are received. |Invesco Emerging Eurpn Z Acc|  
    March 2022 HSBC GIF Russia Equity HSBC GIF Russia Equity   A notification has been received from HSBC GIF informing us that the Russia Equity Funds have been temporarily suspended from trading due to the escalating conflict between Russia and the Ukraine. The suspension is effective immediately and as a result the funds have been closed to buys and sells from today. Any model portfolios which contain the Fund will be impacted. At this time we have not been given any indication of when the suspension may be lifted, however updates will be provided as they are received. |HSBC GIF Russia Equity BC|  
    March 2022 BlackRock Emerging Europe Fund Suspension - BlackRock Emerging Europe Fund   A notification has been received from BlackRock informing us that the Emerging Europe Funds have been temporarily suspended from trading due to the escalating conflict between Russia and the Ukraine. The suspension is effective immediately and as a result the funds have been closed to buys and sells from today. Any model portfolios which contain the Fund will be impacted. At this time we have not been given any indication of when the suspension may be lifted, however updates will be provided as they are received. |BlackRock GF Emg Europe D4|  
    March 2022 Barings Eastern Europe Fund Suspension - Barings Eastern Europe Fund   A notification has been received from Barings informing us that the Eastern Europe Fund has been temporarily suspended from trading due to the escalating conflict between Russia and the Ukraine. The suspension is effective immediately and as a result the funds have been closed to buys and sells from today. Any model portfolios which contain the Fund will be impacted. At this time we have not been given any indication of when the suspension may be lifted, however updates will be provided as they are received. |Barings Eastern Europe I Acc|  
    March 2022 Premier Miton Balanced Multi Asset Fund Name Change - Premier Miton Balanced Multi Asset Fund   We have received a notification from Premier Miton informing us that the name of the below funds are changing as of 01.03.2022. |Premier Miton Bal Multi Asset F Acc changing to Premier Miton Div Sus Growth F Acc|  
    March 2022 Liontrust Russia Fund Suspension - Liontrust Russia   We have received a notification from Premier Miton informing us that the name of the below funds are changing as of 01.03.2022. |Premier Miton Bal Multi Asset F Acc changing to Premier Miton Div Sus Growth F Acc|  
    March 2022 Aviva Corporate Bond Fund and Monthly Income Plus Fund Charge Changes - Aviva Corporate Bond Fund and Monthly Income Plus Fund   We have received a notification from Aviva Investors to advise that the OCF charge for the below funds will be changed on 01.03.2022. |Aviva Inv Corporate Bond 2 - OCF changing from 0.62% to 0.52%| |Aviva Inv Monthly Inc Plus 2 Acc - OCF changing from 0.63% to 0.55%|  
    February 2022 JPM Emerging Europe Equity C Net Acc (GB00B8DLLD51) Notification - Suspension   Document not available  
    February 2022 Pictet - Russian Equities I Acc GBP (LU0859479239) Notification - Suspension   Document not available  
    February 2022 Liontrust Russia Fund C Acc GBP (GB00B86WB793) Notification - Suspension   Document not available  
    February 2022 Henderson Diversified Inc Trust Plc Ord Shares 1p!/ (GB00BF03YC36) Notification - Name Change   Investment Policy and Objective Change  
    February 2022 Evraz Plc Ordinary Shares USD 0.05 (GB00B71N6K86) Notification - Invalid Asset (All Products)   Demerger. Document not available  
    February 2022 Schroder Digital Infrastructure Fund Z Acc GBP Notification - Name Change   Name Change and Fund Change  
    February 2022 L&G Active Sterling Corporate Bond I Inc!/ (GB00B0CNHC71) Notification - Name Change   Document not available  
    February 2022 L&G Active Sterling Corporate Bond I Acc (GB00B0CNHD88) Notification - Name Change   The changes are designed to deliver clearer fund objectives, policies and outcomes for the investors.   
    February 2022 Aberdeen Standard Asia Focus Plc Ordinary Shares 25p Subdivision - Stock Split   We have received a notification from Winterfloods informing us of a Subdivision involving the funds listed below. The effective date of the conversion was the 04.02.2022. This was a mandatory event, Holders received 5 new ordinary shares for each ordinary share previously held. Please note, the fund has been closed to buys and sells with immediate effect. All model portfolios and holdings will be repointed to the receiving fund when the subdivision is processed. |AbStdAsFc O25p changing to Abrdn Stndrd  
    February 2022 Pictet Russian Equities Suspension - Pictet Russian Equities   A notification has been received from Pictet informing us that the Russian Equities Funds have been temporarily suspended from trading due to the escalating conflict between Russia and the Ukraine. The suspension is effective as of 28.02.2022 and as a result the funds have been closed to buys and sells from today. Apologies, we were late to be notified of this. Any model portfolios which contain the Fund will be impacted. At this time we have not been given any indication of when the suspension may be lifted, however updates will be provided as they are received. |Pictet Russian Equities I GBP|  
    February 2022 JPMorgan Emerging Europe Equity Fund Suspension - JPMorgan Emerging Europe Equity Fund   A notification has been received from JPMorgan informing us that the Emerging Europe Equity Funds have been temporarily suspended from trading due to the escalating conflict between Russia and the Ukraine. The suspension is effective immediately and as a result the funds have been closed to buys and sells from today. Any model portfolios which contain the Fund will be impacted. At this time we have not been given any indication of when the suspension may be lifted, however updates will be provided as they are received. |JPM Emg Eur Eq C Inc| |JPM Emg Eur Eq C Acc|  
    February 2022 ASI Eastern European Equity Fund Suspension - ASI Eastern European Equity Fund   A notification has been received from Aberdeen Standard informing us that the Eastern European Equity Fund has been temporarily suspended from trading due to the escalating conflict between Russia and the Ukraine. The suspension is effective immediately and as a result the funds have been closed to buys and sells from today. Any model portfolios which contain the Fund will be impacted. At this time we have not been given any indication of when the suspension may be lifted, however updates will be provided as they are received. |ASI Estrn Eurpn Equty A Acc| |ASI Estrn Eurpn Equty I Acc|  
    February 2022 Schroder UK Opportunities Fund Merger - Schroder UK Opportunities Fund   We have received a notification from Schroder informing us of a Merger involving the funds listed below. The effective date of the Merger is the 28.02.2022. Model portfolios will be affected until the merger has completed. Please note, the funds have been closed to buys and sells with immediate effect. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Schroder UK Opportunities Z Acc changing to Schroder UK Alpha Plus Z Acc| |Schroder UK Opportunities Z Inc changing to Schroder UK Alpha Plus Z Inc|  
    February 2022 Schroder UK Equity Fund Merger - Schroder UK Equity Fund   We have received a notification from Schroder informing us of a Merger involving the funds listed below. The effective date of the Merger is 28.02.2022. Model portfolios will be affected until the merger has completed. Please note, the funds have been closed to buys and sells with immediate effect. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Schroder UK Equity Z Acc changing to Schroder UK Alpha Plus Z Acc| |Schroder UK Equity Z Inc changing to Schroder UK Alpha Plus Z Inc|  
    February 2022 Santander Sterling Government Bond Fund Fund Closure - Santander Sterling Government Bond Fund   We have received a notification from Santander informing us that on 28.02.2022 they will be closing the Santander Sterling Government Bond Fund. All holdings on the effective date will be compulsorily redeemed. |Santander Sterling Governmt Bd II| |Santander Sterling Governmt Bd IA| Please note, the funds have been closed to buys and sells with immediate effect. Any model portfolios that contain the Fund will become invalid and need to be updated.  
    February 2022 Aegon Short Dated High Yield Global Bond Fund Closure - Aegon Short Dated High Yield Global Bond   We have received a notification from Aegon informing us that on 28.02.2022 they will be closing the Short Dated High Yield Global Bond fund. All holdings on the effective date will be compulsorily redeemed. The funds will be closed to Buys and Sells on 21.02.2022. Any model portfolios that contain the Fund will become invalid and need to be updated. |Aegon ShrtDatdHghYldGlBd B Inc|  
    February 2022 RWC Fund Range Name Change - RWC Fund Range   We have received a notification from RWC (Soon to be renamed Redwheel) informing us that the name of the below funds are changing as of 21.02.2022. |RWC Asia Convertibles B changing to Redwheel Asia Convertibles B | RWC Enhanced Income A Dis changing to Redwheel Enhanced Income A Dis | RWC Enhanced Income B Dis changing to Redwheel Enhanced Income B Dis | RWC UK Value B Dis changing to Redwheel UK Value B Dis | RWC Enhanced Income A changing to Redwheel Enhanced Income A | RWC GLOBAL CONVERTIBLES B DIS changing to Redwheel GLOBAL CONVERTIBLES B DIS | RWC Global Horizon A changing to Redwheel Global Horizon A | RWC Global Horizon B changing to Redwheel Global Horizon B | RWC Nissay Japan Focus R GBP changing to Redwheel Nissay Japan Focus R GBP | RWC Nissay Japan Focus B Hgd changing to Redwheel Nissay Japan Focus B Hgd | RWC Gbl Emerging Mkts B Acc changing to Redwheel Gbl Emerging Mkts B Acc | RWC Gbl Emerging Mkts S GBP changing to Redwheel Gbl Emerging Mkts S GBP | RWC Next Gen Emg Mkts Eq I I changing to Redwheel Next Gen Emg Mkts Eq I I |  
    February 2022 L&G Growth Trust, European Trust and UK Select Equity Fund Name Change - L&G Growth Trust, European Trust and UK Select Equity Fund   We have received a notification from Legal & General informing us that the name of the below funds are changing as of 15.02.2022. |L&G UK Select Equity A Acc changing to L&G Future World Sustainable UK Equity A Acc| |L & G European R Acc changing to L&G Future World Sustainable European Equity Focus R Acc| |L & G Growth R Dist changing to L&G Future World Sustainable UK Equity Focus R Dist| |L & G Growth R Acc changing to L&G Future World Sustainable UK Equity Focus R Acc| |L & G Growth I Acc changing to L&G Future World Sustainable UK Equity Focus I Acc| |L&G European I Inc changing to L&G Future World Sustainable European Equity Focus I Inc| |L&G European I Acc changing to L&G Future World Sustainable European Equity Focus I Acc| |L&G UK Select Equity I Inc changing to L&G Future World Sustainable UK Equity I Inc| |L&G UK Select Equity I Acc changing to L&G Future World Sustainable UK Equity I Acc|  
    February 2022 Lyxor DJ Global Titans 50 Compulsory Redemption - Lyxor DJ Global Titans 50   We have received a notification from Winterfloods informing us that following fund was delisted from the London Stock exchange on 20.12.2021, this therefore means Novia Financial are no longer able to facilitate this fund on the platform and any holdings still held in in Lyxor DJ Global Titans 50 fund on 15.02.2022 will be compulsorily redeemed. |Lyxor UETF DJ GblTtns50 D GBP| The funds will be closed to Sells on 08.02.2022. Any model portfolios that contain the funds will become invalid and need to be updated.  
    February 2022 LF Handelsbanken Compulsory Redemption - LF Handelsbanken   We have received a further notification from Handelsbanken informing us that following the Transfer Agent change in November 2021, they no longer wish to engage in legal agreements with any Platforms. Consequently, Novia Financial are no longer able to facilitate these funds on the platform and any holdings still held in in Handelsbanken funds on 14.02.2022 will be compulsorily redeemed. The funds will be closed to Sells on 07.02.2022. Any model portfolios that contain the funds will become invalid and need to be updated. |Handelsbanken Gth MltAs I Acc| |Handelsbanken Bal MutAs I Inc| |Handelsbanken Cau MtiAs I Acc| |Handelsbanken I Plus MA I Inc| |Handelsbanken Bal MulAs I Acc| |Handelsbanken DfnMltiAs I Acc| |Handelsbanken CauMltiAs D Acc| |Handelsbanken GthSus MlAs I A| |Handelsbanken CauSus MlAs I A| |Handelsbanken BalSustMlAs I A|  
    February 2022 Royal London Fund FMF Change - Royal London   We have received notification from Montanaro that the Fund Management Fee for the below fund will change on 10.02.2022. |Royal Ldn EmgMktESGLdsEqTk Z Acc - AMC changing from 0.35% to 0.25%|  
    February 2022 L&G Fixed Interest Name Change - L&G Fixed Interest   We have received a notification from Legal & General informing us that the name of the below funds are changing as of 07.02.2022. |L & G Fixed Interest I Acc changing to L&G Active Strlng Corp Bnd I Acc| |L & G Fixed Interest I Inc changing to L&G Active Strlng Corp Bnd I Inc|  
    February 2022 Lowland Investment Co Subdivision - Lowland Investment Co   We have received a notification from Winterfloods informing us of a Subdivision involving the funds listed below. The effective date of the conversion was 04.02.2022. This was a mandatory event, Holders will receive 10 new ordinary shares of GBP0.025 for each existing ordinary share of GBP0.25 held. All model portfolios and holdings have been repointed to the receiving fund. |Lowland Investment Company Ord changing to Lowland Investment Company Ord|  
    February 2022 Franklin Templeton Western Asset Retirement Income Bond Fund Closure - Franklin Templeton Western Asset Retirement Income Bond   We have received a notification from Franklin Templeton informing us that on 04.02.2022 they will be closing the FTF Western Asset Retirement Income Bond fund. All holdings on the effective date will be compulsorily redeemed. |FTF WstrnAs Retirement IncBd X| The Fund will be closed to Buys and Sells on 28.01.2022. Any model portfolios that contain the Fund will become invalid and need to be updated.  
    February 2022 L&G Future World OCF Change - L&G Future World   We have received a notification from Legal & General that the OCF charge for the below funds will be changed on 01.02.2022. |L&G Future World ESG UK Index I Acc - OCF changing from 0.22% to 0.15%| |L&G Future World ESG Developed Index I Acc - OCF changing from 0.25% to 0.20%|  
    February 2022 AXA Global Distribution Name Change - AXA Global Distribution   We have received notification from AXA that the name for the below funds will change on 01.02.2022. |AXA Global Distribution Z Inc changing to AXA Gbl Sus Distribution Z Inc| |AXA Global Distribution Z Acc changing to AXA Gbl Sus Distribution Z Acc| |AXA Global Dist Ret Inc changing to AXA Global Sus Dist Ret Inc| |AXA Global Dist Ret Acc changing to AXA Global Sus Dist Ret Acc|  
    February 2022 Chinese fund range Lunar New Year holiday - Hong Kong   Non-dealing days will be in place for a number of funds on platform from 31.01.2022 to 03.02.2022. This is due to the three day ‘Lunar New Year’ holiday in Hong Kong which will see stock markets and banks closed.  
    February 2022 Allianz Total Return Asian Equity Fund AMC Change - Allianz Total Return Asian Equity Fund   We have received notification from Allianz that the annual management charge for the below funds will change on 01.02.2022. |Allianz TR Asian Equity C Inc - Fund Management Fee changing from 0.88% to 0.75%| |Allianz TR Asian Equity C Acc - Fund Management Fee changing from 0.88% to 0.75%|  
    January 2022 Goodbody Health Inc Common Stock NPV!/ (CA80403E1043) Notification - Name Change   Document not available  
    January 2022 BlackRock Gbl Uncon Eq (UK) Z AccGBP (GB00BFK3MN00) Notification - Fund Changes   Document not available  
    January 2022 Daily Mail & General Trust A Ord NV Shs 12.5p (GB00BJQZC279) Notification - Invalid Asset (All Products)   DMGT A Shareholders who have already validly accepted (and not validly withdrawn their acceptance) of the Original Offer are not required to take any further action in respect of the Final Offer.  
    January 2022 Royal Dutch Shell Plc A Ordinary Shares EUR 0.07 (GB00B03MLX29) Notification - Name Change   Document not available  
    January 2022 Royal Dutch Shell Plc B Ordinary Shares EUR 0.07 (GB00B03MM408) Notification - Name Change   Document not available  
    January 2022 Legal & General Fixed Interest Trust I Acc (GB00B0CNHD88) Notification - Name Change   Document not available  
    January 2022 Electra Private Equity Plc Ordinary Shares 25p (GB0003085445) Notification - Name Change   Document not available  
    January 2022 Napster Group Plc Ord Shares 1p (GB00BD2YHN21) Notification - Invalid Asset (All Products)   The Board of Napster is pleased to announce the proposed disposal of Rhapsody (a subsidiary of the Company containing almost all of the Group's assets and liabilities) to NM Inc for US$45.6 million.  
    January 2022 Carmignac Portfolio Emerging Discovery W Acc GBP (LU0992630086) Notification - Fund Changes   It has been decided to make some changes to certain Sub-Funds and the Company’s new prospectus dated November 2021. Among these modifications are the promotion of environmental, social and governance (ESG) characteristics, compliance of our fund range to the European Securities and Markets Authority rules on performance fees, and the widening of investible securities for certain Sub-Funds.  
    January 2022 Carmignac Portfolio Emergents W Acc GBP (LU0992626720) Notification - Fund Changes   It has been decided to make some changes to certain Sub-Funds and the Company’s new prospectus dated November 2021. Among these modifications are the promotion of environmental, social and governance (ESG) characteristics, compliance of our fund range to the European Securities and Markets Authority rules on performance fees, and the widening of investible securities for certain Sub-Funds.  
    January 2022 Carmignac Portfolio Green Gold W Acc GBP (LU0992629401) Notification - Fund Changes   It has been decided to make some changes to certain Sub-Funds and the Company’s new prospectus dated November 2021. Among these modifications are the promotion of environmental, social and governance (ESG) characteristics, compliance of our fund range to the European Securities and Markets Authority rules on performance fees, and the widening of investible securities for certain Sub-Funds.  
    January 2022 Carmignac Portfolio Global Bond Fund W Acc GBP (LU0992630839) Notification - Fund Changes   It has been decided to make some changes to certain Sub-Funds and the Company’s new prospectus dated November 2021. Among these modifications are the promotion of environmental, social and governance (ESG) characteristics, compliance of our fund range to the European Securities and Markets Authority rules on performance fees, and the widening of investible securities for certain Sub-Funds.  
    January 2022 Santander Max 70% Shares Portfolio R Acc (GB00B3KKWJ34) Notification - Fund Changes   They will be implementing a new investment strategy, updating the Fund’s disclosed investment objectives, including changes to the constituents of the Fund’s benchmark and changing the Fund’s investment policy  
    January 2022 Montanaro UK Income Fund Seed Dist GBP (IE00B1FZRT49) Notification - Fund Changes   The AMC of the Montanaro UK Income Fund Seed share classes will increase from the current rate of 0.25% to 0.30%, 0.35%, 0.40% and 0,45%, from 2022 to 2025.   
    January 2022 Neuberger Berman Short Dur High Yld Bd IDistHdgGBP (IE00B7FN4M22) Notification - Fund Changes   It is intended, subject to the approval of: (a) the Central Bank and (b) the Shareholders, to amend the investment policy of the Portfolio by noting that the investments that the Portfolio primarily makes to achieve its investment objective must comply with the terms of the Sustainable Exclusion Policy.  
    January 2022 JKX Oil & Gas Plc Ordinary Shares 10p (GB0004697420) Notification - Invalid Asset (All Products)   Document not available  
    January 2022 BHP Group Plc Ordinary Shares USD 0.50 Scheme of Arrangement (Mandatory)   Fund Closure - Quilter Investors Global Property Securities  
    January 2022 TM RWC Fund Range Name Change - TM RWC Fund range   We have received a notification from TM RWC (Soon to be renamed TM Redwheel) informing us that the name of the below funds are changing as of 31.01.2022. |TM RWC UK Equity Income R Acc changing to TM Redwheel UK Equity Income R Acc| |TM RWC UK Equity Income R Inc changing to TM Redwheel UK Equity Income R Inc| |TM RWC UK Equity Income S Acc changing to TM Redwheel UK Equity Income S Acc| |TM RWC UK Equity Income S Inc changing to TM Redwheel UK Equity Income S Inc| |TM RWC UK Equity Income L Acc changing to TM Redwheel UK Equity Income L Acc| |TM RWC UK Equity Income L Inc changing to TM Redwheel UK Equity Income L Inc| |TM RWC GlEInc R A changing to TM Redwheel GlEInc R A| |TM RWC GlEInc L A changing to TM Redwheel GlEInc L A| |TM RWC GlEInc L I changing to TM Redwheel GlEInc L I|  
    January 2022 GAM Global Diversified Name Change - GAM Global Diversified   We have received a notification from GAM informing us that the name of the below funds are changing as of 31.01.2022. |GAM Global Diversified I Acc changing to GAM Disruptive Growth I Acc|  
    January 2022 Lunar New Year holiday - Hong Kong Lunar New Year holiday - Hong Kong   Non-dealing days will be in place for a number of funds on platform from 31.01.2022 to 03.02.2022. This is due to the three day ‘Lunar New Year’ holiday in Hong Kong which will see stock markets and banks closed.  
    January 2022 Cordiant Digital Infrastructure Conversion - Cordiant Digital Infrastructure   We have received a notification from our Stockbroker Winterflood Business Services informing us of a Conversion involving the funds listed below. The effective date of the Conversion is 20.01.2022. Model portfolios will be affected until the Conversion has completed. Please note, the assets have been closed to buys and sells with immediate effect. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Cordiant Dig Infr CS ON|  
    January 2022 Go-Ahead Group Plc Suspension - Go-Ahead Group Plc   A notification has been received stating that the Go-Ahead Group Plc is currently suspended for dealing following a delay in the finalisation of its annual results. As a result the fund has been closed to buys and sells with immediate effect. Any model portfolios which contain the Fund will be impacted. As yet, we have not been given any indication of when the suspension may be lifted, however updates will be provided as they are received. |Go-AheadGroupPLCOrd10P|  
    January 2022 Invesco UK Companies Fund Name Change - Invesco UK Companies Fund   We have received a notification from Fidelity informing us that the name of the below funds are changing as of 24.01.2022. |Fidelity Global Focus changing to Fidelity Sust Global Equity| |Fidelity Global Focus W Acc changing to Fidelity Sust Global Eqty W Acc|  
    January 2022 Odey Brook Developed Markets Fund Merger - Odey Brook Developed Markets Fund   We have received a notification from Odey informing us of a Merger involving the funds listed below. The effective date of the Merger is 28.01.2022. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 21.01.2022. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Odey Allegra Developed Mkts I changing to Odey Developed Mkts I|  
    January 2022 Quilter Investors Global Property Securities Fund Closure - Quilter Investors Global Property Securities   We have received a notification from Quilter Investors informing us that on 26.01.2022 they will be closing the Quilter Global Property Securities fund. All holdings on the effective date will be compulsorily redeemed. |Quilter Inv Glb PrpSec R Hdg Inc| The Fund will be closed to Buys and Sells on 19.01.2022. Any model portfolios that contain the Fund will become invalid and need to be updated.  
    January 2022 VT Garraway Name Change - VT Garraway  
We have received notification from Valu-Trac to advise that the name for the below funds will change on 24.01.2022. |VT Garraway UK Eq Mkt F Acc changing to VT EPIC UK Eq Mkt F Acc| |VT Garraway UK Eq Mkt F Inc changing to VT EPIC UK Eq Mkt F Inc| |VT Garraway Divfd Income R Acc changing to VT EPIC Divfd Income R Acc| |VT Garraway Divfd Income R Inc changing to VT EPIC Divfd Income R Inc|
 
    January 2022 L&G Managed Monthly Income Trust Name Change - L&G Managed Monthly Income Trust   We have received a notification from Legal & General to advise that the name for the below funds will change on 24.01.2022. |L & G Managed Monthly Income I Acc changing to L&G ActivStrlngCorpBondPlus I Acc| |L & G Managed Monthly Income I Dist changing to L&G ActivStrlngCorpBondPlus I Inc| |L & G Managed Monthly Income R Acc changing to L&G ActivStrlngCorpBondPlus R Acc| |L & G Managed Monthly Income R Dist changing to L&G ActivStrlngCorpBondPlus R Inc|  
    January 2022 Fidelity Global Focus Fund Name Change - Fidelity Global Focus Fund   We have received a notification from Fidelity informing us that the name of the below funds are changing as of 24.01.2022. |Fidelity Global Focus changing to Fidelity Sust Global Equity| |Fidelity Global Focus W Acc changing to Fidelity Sust Global Eqty W Acc|  
    January 2022 FP Rayliant Quantament Emerging Markets Fund Closure - FP Rayliant Quantament Emerging Markets   We have received a notification from FundRock informing us that on 18.01.2022 they will be closing the FP Rayliant Quantamental Emerging Markets Equity Fund. All holdings on the effective date will be compulsorily redeemed. |FP Rayliant Quantament EmgMkts A| |FP Rayliant Quantament EmgMkts B| The funds have been closed to buys and sells with immediate effect. Any model portfolios that contain the Fund will become invalid and need to be updated. Apologies for the short deadline for this notification, we were late to be notified of this.  
    January 2022 Barings Strategic Bond Fund Closure - Barings Strategic Bond   We have received a notification from Barings informing us that on the 18.01.2022 they will be closing the Barings Strategic Bond fund. All holdings on the effective date will be compulsorily redeemed. |Barings Strategic Bond I Inc| The Fund will be closed to Buys and Sells on the 11.01.2022. Any model portfolios that contain the Fund will become invalid and need to be updated.  
    January 2022 L&G Sterling Income Fund Name Change - L&G Sterling Income Fund   We have received a notification from Legal & General informing us that the name of the below funds are changing as of 17.01.2022. |L&G Sterling Income I Inc changing to L&G ActShrtDtd Corp Bd I Inc| |L&G Sterling Income I Acc changing to L&G ActShrtDtd Corp Bd I Acc|  
    January 2022 ARC TIME UK Infrastructure Income Fund Merger - ARC TIME UK Infrastructure Income Fund   We have received a notification from Time Investments informing us of a Merger involving the funds listed below. The effective date of the Merger is 10.01.2022. Model portfolios will be affected until the merger has completed. Please note, the funds have been closed to buys and sales with immediate effect, Apologies for the late notice as the merger was approved late on 09.01.2022. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed.  
    January 2022 Intermede Name Change - Intermede   We have received a notification from Intermede Management Limited informing us that the name of the below fund is changing as of 06.01.2022. |Det Glo Eq E A changing to Intermede Glo Eq E A|  
    January 2022 L&G High Income Trust Name change - L&G High Income Trust   We have received notification from Legal & General that the Name for the below funds will be changing on 05.01.2022. L & G High Income R Dist changing to L&G Active Gbl HiYldBnd R Dist/Acc | L&G Active Gbl HiYldBnd R Inc/Acc | L & G High Income I Inc/Acc changing to L&G Active Gbl HiYldBnd Inc/Acc  
    January 2022 Hermes High Yield Credit Fund AMC Change - Hermes High Yield Credit Fund   We have received notification from Federated Hermes that the Fund Management Fee for the below funds will change on 01.01.2022. |Federated Hermes SDGEgHYCr FH A - AMC changing from 0.65% to 0.60%| |Federated Hermes GblHiYldCrFH Ac - AMC changing from 0.65% to 0.60%|  
    January 2022 Mirabaud SICAV Settlement Changes - Mirabaud SICAV   We have received a corporate action notification from Mirabaud detailing that the below funds’ settlement schedules with change. As a result, the settlement periods will be reduced as of 01.01.2022. |Mirabaud Sus Cnvtble Gbl DH cap - Current Subscription Settlement/Redemption period 4 days changing to 2 days|  
    January 2022 UBS Diversified Income Charge Change - UBS Diversified Income   We have received notification from UBS to indicate that the Annual Management Charge for the below fund changed as of 01.01.2022. |UBS Global Diversified Income - Annual Management Charge changing from 0% to 0.38%|  
    January 2022 Montanaro UK Income Fund AMC Change - Montanaro UK Income Fund   We have received notification from Montanaro that the Annual Management Charge for the below fund will change on 01.01.2022. |Montanaro UK Income Seed - AMC changing from 0.25% to 0.3%|  
    December 2021 Schroder European Sustainable Equity Fund L Inc GBP Notification - Fund Changes   We, Schroder Unit Trusts Limited, are writing to you as the ACD of the Company to tell you of our Proposal to make certain changes to the Fund. Proposal for certain changes (to the name and the investment objective and policy) to Schroder European Alpha Income Fund (the Fund) (the Proposal  
    December 2021 EPIC Financial Trends B Acc Hedged GBP Notification - Fund Changes   It is proposed that the Constitution be amended to reflect a proposed change of name of the Company from Garraway Funds PLC to EPIC Funds PLC.  
    December 2021 GAM Star Continental European Equity Z II Acc GBP (IE00BD3GHF97) Notification - Fund Changes   Investment Objective Change - document is not available  
    December 2021 JPM Europe (ex-UK) Sustainable Equity Fund C Net Acc Notification - Fund Changes   The ACD believes a sustainable investment approach that seeks to provide the majority of its returns through Sustainable Companies may offer better prospects for growth as demand for sustainable products continues to grow.  
    December 2021 Vanguard SustainableLife 60-70% Equity Fund Acc GBP Notification - Fund Changes   We are writing to notify you that we will be implementing certain changes to the Fund with effect from 8 December 2021. There is no change to the Investment Objective of the Fund as a result of the update articulated below and there will also be no material alteration to its risk profile.  
    December 2021 Premier Miton Responsible UK Equity Fund C Acc Notification - Name Change   Premier Miton Ehtical Fund, name change to Premier Miton Responsible UK Equity Fund.  
    December 2021 Garraway Financial Trends B Acc Hedged GBP Notification - Fund Changes   Not provided  
    December 2021 Schroder European Alpha Income Fund Z Inc GBP Notification - Fund Changes   Not provided  
    December 2021 Sarasin Digital Opportunities L Soft Closure - Sarasin Digital Opportunities L   We have received a notification from Sarasin stating that they have decided to close the below fund to new investors on 31.12.2021. |Sarasin Dgtl Opp L Acc| |Sarasin Dgtl Opp L Inc| Please note this will impact model portfolios.  
    December 2021 Baillie Gifford Merger - Baillie Gifford   We have received a notification from Baillie Gifford informing us of a Scheme of Arrangement involving the funds listed below. The effective date of the Scheme of Arrangement is 31.12.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 23.12.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Baillie Gifford Divfd Gth B Acc changing to Baillie Gifford DivfdGth B2 A|  
    December 2021 NB Global Equity Index Putwrite Fund Closure - NB Global Equity Index Putwrite   We have received a notification from Neuberger Berman informing us that on 20.12.2021 they will be closing the NB Global Equity Index Putwrite fund. All holdings on the effective date will be compulsorily redeemed. |NB Global Equity Index Putwrite I A GBP| The Fund will be closed to Buys and Sells on 13.12.2021. Any model portfolios that contain the Fund will become invalid and need to be updated.  
    December 2021 Premier Miton Ethical Fund Name Change - Premier Miton Ethical Fund   We have received notification from Premier Miton that the Name for the below funds will be changing on 14.12.2021. |Premier Miton Ethical C Inc changing to Premier Miton Responsible UK Equity C Inc| |Premier Miton Ethical C Acc changing to Premier Miton Responsible UK Equity C Acc|  
    December 2021 Schroder MM Diversity Balanced Merger - Schroder MM Diversity Balanced   We have received a notification from Schroders informing us of a Merger involving the funds listed below. The effective date of the Merger is 10.12.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 03.12.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Schroder MM Div Balanced Z Inc changing to Schroder Blended Portfolio 6 F Inc| |Schroder MM Div Balanced Z Acc changing to Schroder Blended Portfolio 6 F Acc| No immediate action required
    December 2021 Ninety One Monthly High Income Merger - Ninety One Monthly High Income   We have received a notification from Ninety One informing us of a Merger involving the funds listed below. The effective date of the Merger is the 10.12.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 03.12.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Investec Monthly High Income I Acc changing to Ninety One Global Total Return Credit I Acc| |Ninety One Monthly High Income I Inc-2 changing to Ninety One Global Total Return Credit I Inc| No immediate action required
    December 2021 M&G European Select Merger - M&G   We have received a notification from M&G informing us of a Scheme of Arrangement involving the funds listed below. The effective date of the Scheme of Arrangement is 10.12.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 03.12.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |M&G European Select I Acc changing to M&G European Sustain Paris Aligned Fund I A| No immediate action required
    December 2021 Vanguard Global Balanced Name Change - Vanguard Global Balanced   We have received notification from Vanguard that the name for the below will change on 08.12.2021. |Vanguard Global Balanced A Inc changing to Vanguard SustLife 60-70%EqGBPInc| |Vanguard Global Balanced A Acc changing to Vanguard SustLife 60-70%EqGBPAcc| No immediate action required
    December 2021 BNY Mellon UK Opps & Continental European BNY Mellon UK Opps & Continental European   We have received notification from BNY Mellon that the Name for the below funds will be changing on 08.12.2021. |BNY Mellon Continental European SIS GBP changing to BNY Mellon Sust Europn Opps SIS| |BNY Mellon UK Opportunities SIS changing to BNY Mellon Sust UK Opps Fund SIS| |BNY Mellon UK Opportnts I W Inc changing to BNY Mellon Sust UK Opps I W Inc| |BNY Mellon Contin Eur W Inc changing to BNY Mellon Sust Europn Opp W Inc| |BNY Mellon UK Opportnts I W Acc changing to BNY Mellon Sust UK Opps I W Acc| No immediate action required
    December 2021 Schroder MM International Merger - Schroder MM International   We have received a notification from Schroders informing us of a Merger involving the funds listed below. The effective date of the Merger is 07.12.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 30.11.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Schroder MM International Z Acc changing to Schroder Global Equity Z Acc No immediate action required
    December 2021 Wells Fargo WW Fund Range Name Change - Wells Fargo WW Fund Range   We have received notification from Wells Fargo that the Name for the below fund will be changing on 06.12.2021. |Wells Fargo WW China Equity Z changing to Wells Fargo AS WW China Equity Z| |Wells Fargo WW US AllCapGth Z Dis changing to Wells Fargo ASWW USAllCpGt Z Dis| |Wells Fargo WW SmlCpInvtn Z Acc changing to Wells Fargo ASWW SmlCpIvtn Z Acc| |Wells Fargo WW SmlCpInvtn X Acc changing to Wells Fargo ASWW SmlCpIvtn X Acc| No immediate action required
    December 2021 JPM Europe Fund Name Change - JPM Europe Fund   We have received notification from JP Morgan that the Name for the below fund will be changing on 06.12.2021. |JPM Europe C Acc changing to JPM Europe ex UK Sustainable Equity C Acc| No immediate action required
    December 2021 Barings Japan Growth Trust Fund Closure - Barings Japan Growth Trust   We have received a notification from Barings informing us that on 06.12.2021 they will be closing the Barings Japan Growth Trust fund. |Barings Japan Growth I Inc| All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to Buys and Sells on 29.11.2021. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    November 2021 Invinity Energy Systems Plc Ord Shares Open Offer Issue Entitlements   Placing to raise £25 million and Open Offer to raise up to approximately £ 4.0 million  
    November 2021 Montlake Collidr Adaptive Global Equity UCITS Fund Institutional Notification - Fund Changes   Actions that are proposed to be taken in relation to the Sub-Fund, and which will involve a number of changes to the Supplement for the Sub-Fund.  
    November 2021 The European Smaller Companies Trust Plc Ordinary Shares Notification - Name Change   Document not available  
    November 2021 Cordel Group Plc Ordinary Shares Notification - Name Change   Document not available  
    November 2021 TwentyFour Corporate Bond Fund Notification - Fund Changes   Directors now propose to appoint KBA Consulting Management Limited ("KBA") as the manager of the Company and to delegate the UCITS management functions to KBA.  
    November 2021 Schroder Income Portfolio Fund Z Acc Notification - Fund Changes   Proposal for changes (including to the name and investment objective and policy) to the Schroder MM Diversity Income Fund  
    November 2021 VT Downing Small & Mid-Cap Income Fund Inc Notification - Fund Changes   Proposed change in distribution frequency, name and objective of the Fund.  
    November 2021 Winterflood - FirstGroup PLC Tender Offer - Winterflood - FirstGroup PLC   We have received a notification from Winterfloods informing us that the below asset will be going through a Tender Offer. Holders can elect to realise all, none, or some of Tender offer at a price of £1.05. Guaranteed entitlement of 38.9% of holdings with excess tenders subject to scale back. Shareholders must inform us of their decision by 5pm on 19.11.2021. Please note that this is only applicable if the offer was taken up. If the offer was taken up, compulsory redemption of units will be carried out. Please also note that this will impact model portfolios.  
    November 2021 Marlborough Funds Name Change - Marlborough   We have received notification from Marlborough that the Name for the below fund will be changing. |Marlborough Bond Income Fund Class P Income changing to IFSL Marlborough Bond Income Fund Class P Income | Marlborough Emerging Markets Trust Class A Income changing to IFSL Marlborough Emerging Markets Trust Class A Income | Marlborough Emerging Markets Trust Class P Income changing to IFSL Marlborough Emerging Markets Trust Class P Income | Marlborough European Multi-Cap Fund Class A Income changing to IFSL Marlborough European Special Situations  Fund Class A Income | Marlborough European Multi-Cap Fund Class P Income changing to IFSL Marlborough European Special Situations Fund Class P Income | Marlborough Extra Income Fund Class P Income changing to IFSL Marlborough Extra Income Fund Class P Income | Marlborough Far East Growth Fund Class A Accumulation changing to IFSL Marlborough Far East Growth Fund Class A Accumulation | Marlborough Far East Growth Fund Class A Income changing to IFSL Marlborough Far East Growth Fund Class A Income | Marlborough Far East Growth Fund Class P Income changing to IFSL Marlborough Far East Growth Fund Class P Income | Marlborough Global Bond Fund Class P Accumulation changing to IFSL Marlborough Global Bond Fund Class P Accumulation | Marlborough Global Bond Fund Class P Income changing to IFSL Marlborough Global Bond Fund Class P Income | Marlborough Global Innovation Fund Class P Accumulation changing to IFSL Marlborough Global Innovation Fund Class P Accumulation | Marlborough High Yield Fixed Interest Fund Class P Income changing to IFSL Marlborough High Yield Fixed Interest Fund Class P Income | Marlborough Multi Cap Income Fund Class A Accumulation changing to IFSL Marlborough Multi Cap Income Fund Class A Accumulation | Marlborough Multi Cap Income Fund Class A Income changing to IFSL Marlborough Multi Cap Income Fund Class A Income | Marlborough Multi Cap Income Fund Class P Accumulation changing to IFSL Marlborough Multi Cap Income Fund Class P Accumulation | Marlborough Multi Cap Income Fund Class P Income changing to IFSL Marlborough Multi Cap Income Fund Class P Income | Marlborough Multi-Cap Growth Fund Class A Income changing to IFSL Marlborough Multi-Cap Growth Fund Class A Income | Marlborough Multi-Cap Growth Fund Class P Income changing to IFSL Marlborough Multi-Cap Growth Fund Class P Income | Marlborough Nano-Cap Growth Fund Class P Accumulation changing to IFSL Marlborough Nano-Cap Growth Fund Class P Accumulation | Marlborough Special Situations Fund Class A Accumulation changing to IFSL Marlborough Special Situations Fund Class A Accumulation | Marlborough Special Situations Fund Class P Accumulation changing to IFSL Marlborough Special Situations Fund Class P Accumulation | Marlborough UK Micro-Cap Growth Fund Class A Accumulation changing to IFSL Marlborough UK Micro-Cap Growth Fund Class A Accumulation | Marlborough UK Micro-Cap Growth Fund Class P Accumulation changing to IFSL Marlborough UK Micro-Cap Growth Fund Class P Accumulation | Marlborough US Multi-Cap Income Fund Class A Income changing to IFSL Marlborough US Multi-Cap Income Fund Class A Income | Marlborough US Multi-Cap Income Fund Class P Income changing to IFSL Marlborough US Multi-Cap Income Fund Class P Income | MFM UK Primary Opportunities Fund Class P Accumulation changing to IFSL RC Brown UK Primary Opportunities Fund Class P Accumulation |  
    November 2021 Schroder MM Diversity Tactical Merger - Schroder MM Diversity Tactical   We have received a notification from Schroders informing us of a Merger involving the funds listed below. The effective date of the Merger is 26.11.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 19.11.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Schroder MM Div Tactical Z Inc changing to Schroder Blended Portfolio 7 F Inc| |Schroder MM Div Tactical Z Acc changing to Schroder Blended Portfolio 7 F Acc|  
    November 2021  Aberdeen Standard Merger - Aberdeen Standard   We have received notification from Aberdeen Fund Managers informing us of a Scheme of Arrangement involving the funds listed below. The effective date of the Scheme of Arrangement is 26.11.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 19.11.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Aberdeen UK PropertyFeeder I Acc changing to Stan Life UK Real Estate Inst A| |Aberdeen UK PropertyFeeder I Inc changing to Stan Life Inv UKRlEstFdr Inst I|  
    November 2021 Aberdeen Standard Diversified Core Growth Fund Closure - Aberdeen Standard Diversified Core Growth   We have received a notification from Aberdeen Fund Managers informing us that on 25.11.2021, they will be closing the Aberdeen Standard Diversified Core Growth Fund. All holdings on the effective date will be compulsorily redeemed. |ASI Diversified Core Growth I Acc| The Fund will be closed to Buys and Sells on 18.11.2021. Any model portfolios that contain the Fund will become invalid and need to be updated.  
    November 2021 Threadneedle UK Select Merger - Threadneedle UK Select   We have received a notification from Threadneedle informing us of a Merger involving the funds listed below. The effective date of the merger is the 19.11.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on the 12th November 2021. Please also note that the new fund, Threadneedle UK P Acc, will be closed to buys indefinitely as this is a restricted share class. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Threadneedle UK Select ZNI changing to Threadneedle UK ZNI| |Threadneedle UK Select L Acc changing to Threadneedle UK P Acc|  
    November 2021 Sanlam US Dividend Fund Closure - Sanlam US Dividend   We have received a notification from Sanlam informing us that on 19.11.2021 they will be closing the Sanlam US Dividend A Fund. All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to Buys and Sells on 12.11.2021. Any model portfolios that contain the Fund will become invalid and need to be updated.  
    November 2021 Aberdeen Standard Target Return Bond Fund Closure - Aberdeen Standard Target Return Bond   We have received a notification from Aberdeen Fund Managers informing us that on 19.11.2021 they will be closing the Aberdeen Standard Target Return Bond Fund. All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to Buys and Sells on 12.11.2021. |ASI Target Return Bond I Acc| |ASI Target Return Bond I Inc| Any model portfolios that contain the Fund will become invalid and need to be updated.  
    November 2021 EdenTree Higher Income A/B Name Change: EdenTree Higher Income changing to EdenTree Responsible and Sustainable Managed Income   EdenTree have notified us that the name of their EdenTree Higher Income A/B fund will be changing to EdenTree Responsible and Sustainable Managed Income A/B, effective 15 November, 2021.  
    November 2021 AQR Global Aggregate Bond UCITS Fund Fund Closure - AQR Global Aggregate Bond UCITS Fund   We have received a notification from AQR informing us that on 02.12.2021 they will be closing the Barings AQR Global Aggregate Bond UCITS fund. All holdings on the effective date will be compulsorily redeemed. |AQR GblAgBdUCTS IAG1F A| & |AQR GblAgBdUCTS IDG1F D I| The Funds will be closed to Buys with immediate effect; Sells will, however, continue to be available till 25 November 2021. Any model portfolios that contain the Fund will become invalid and need to be updated.  
    November 2021 Waverton Global Core Equity Fund Merger - Waverton Global Core Equity Fund   We have received a notification from Waverton informing us of a merger involving the funds listed below. The effective date of the merger is 08.11.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sells as of 29.10.2021. All model portfolios and holdings will be repointed to the receiving when the scheme of arrangement is processed. |Waverton Global Core EquityP Inc changing to Waverton Stategic Equity P  
    November 2021 Liontrust Japan Opportunities Merger - Liontrust Japan Opportunities   We have received a notification from Liontrust Investment Management Limited informing us of a Scheme of Arrangement involving the funds listed below. The effective date of the Scheme of Arrangement is the 08.11.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 01.11.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Liontrust Japan Opportunities C Acc GBP changing to Liontrust Japan Equity C Hedged Acc|  
    November 2021 Winterflood Reconstruction - Winterflood   We have received a notification from Winterfloods informing the below asset will be going through a Reconstruction. The company will be wound up voluntarily with shareholders having the choice of: Receiving new ordinary shares in Aberdeen Emerging Markets Investment Company on a relative net asset value basis (default option). Or by election: A cash exit calculated in accordance with the company’s articles of association. The basic entitlement for cash elections is 15% of shares held, excess elections may be subject to scale back. Shareholder must inform us of their decision by 5pm on 29.10.2021. Please note this will impact model portfolios.  
    November 2021 T.Rowe Price Euro, US Agg & Gbl Inv Name Change - T.Rowe Price Euro, US Agg & Gbl Inv   We have received notification from T.Rowe Price that the name for the below will change on 02.11.2021. |T. Rowe Price Eurpn SmCo Eq Q changing to T. Rowe Price ResEurpn SmCo Eq Q| |T. Rowe Price US Agg Bd QN changing to T. Rowe Price Res US Agg Bd QN| |T. Rowe Price GblInvGdCrBd Qdn9 changing to T. Rowe Price ResGbInGdCrBd Qdn9|  
    November 2021 Polar Capital Japan Value Fund Settlement Changes- Polar Capital Japan Value Fund   We have received a corporate action notification from Polar Capital detailing that the below funds’ settlement schedules with change. As a result, the settlement periods will be reduced as of 01.11.2021. |Polar Capital Japan Value S & Polar Capital Japan Value S Hg Subscription Settlement period changing from 3 Days to 2 Days| |Polar Capital Japan Value S & Polar Capital Japan Value S Hg - Redemption Settlement Period changing from 4 Days to 3 Days|  
    November 2021  VT Downing Monthly Income Name and Distribution Changes - VT Downing Monthly Income   We have received notification from VT Downing that the name and the frequency of distribution payments for the below funds will change on the 01.11.2021. |Asset Name changing from VT Downing Monthly Income Inc to VT Downing Small & Mid-Cap Income Inc| |Asset Name changing from VT Downing Monthly Income Acc to VT Downing Small & Mid-Cap Income Acc| |The Distribution payment dates period will be changing from the current: last business day each calendar month| |The frequency and Distribution Payment Dates are changing to - By 31 May, 31 August, 30 November and the last day of February|  
    October 2021 Baillie Gifford Baillie Gifford - AMC Change   We have received notification from Baillie Gifford that the Fund Management Fee for the below funds will change on 01.10.2021. |Baillie Gifford UK Eq Alpha B Inc AMC No immediate action required
    October 2021 Aberdeen Standard Name change - Aberdeen Standard   We have received notification from Aberdeen Standard Investments that the name for the below funds will change on 01/10/21. | Aberdeen Standard Global World Equity A No immediate action required
    October 2021 'Good Energy Group PLC Takeover - Good Energy Group PLC   We have received a notification from Winterfloods informing us that the GoodEnergyGroupPLCOrd5P asset will be subject to a Takeover. There is a deadline of 01.10.2021. No immediate action required
    October 2021 Fidelity Global Consumer Brand Fund Name Change - Fidelity Global Consumer Brand Fund   We have received notification from Fidelity that the name for the below fund will change 04.10.2021. |Fidelity Gbl Csmr Inds Y Inc GBP changing to Fidelity Sust Csmr Brands YI No immediate action required
    October 2021 Jupiter Absolute Return Fund Name change - Jupiter Absolute Return Fund   We have received notification from Jupiter that the name for the below fund will change on 04.10.2021. | Jupiter Absolute Return I Acc changing to Jupiter Flexible Macro I Acc | No immediate action required
    October 2021 Jupiter Absolute Return, Distribution & Growth Name Change - Jupiter Absolute Return, Distribution & Growth   We have received notification from Jupiter that the name for the below fund will change on 04.10.2021. |Jupiter Distrib & Growth Inc changing to Jupiter Multi-Asset Inc&Grwth I| |Jupiter Distribution Acc changing to Jupiter Multi-Asset Inc Fund Acc| |Jupiter Distribution Inc changing to Jupiter Multi-Asset Inc Fund Inc| |Jupiter Distribution I Inc changing to Jupiter Multi-Asset Inc Fund I I| |Jupiter Absolute Return changing to Jupiter Flexible Macro Fund| |Jupiter Distribution I Acc changing to Jupiter Multi-Asset Inc Fund I A| |Jupiter Distrib & Growth I Inc changing to Jupiter Multi-Asset Inc&Grwth II| |Jupiter Absolute Return I Acc changing to Jupiter Flexible Macro Fund I A| No immediate action required
    October 2021 Jupiter Distribution, Distribution & Growth, and Absolute Return Funds Name change - Jupiter Distribution, Distribution & Growth, and Absolute Return Funds   We have received notification from Jupiter that the name for the below funds will change 04.10.21. | Jupiter Distrib & Growth Inc changing to Jupiter Multi-Asset Inc&Grwth I | Jupiter Distribution Acc changing to Jupiter Multi-Asset Inc Fund Acc | Jupiter Distribution Inc changing to Jupiter Multi-Asset Inc Fund Inc | Jupiter Distribution I Inc changing to Jupiter Multi-Asset Inc Fund I I | Jupiter Distribution I Acc changing to Jupiter Multi-Asset Inc Fund I A | Jupiter Distrib & Growth I Inc changing to Jupiter Multi-Asset Inc&Grwth II | Jupiter Absolute Return I Acc changing to Jupiter Flexible Macro Fund I A | Jupiter Absolute Return changing to Jupiter Flexible Macro Fund | No immediate action required
    October 2021 Ninety One Cautiously Managed Fund Name Change - Ninety One Cautiously Managed Fund   We have received notification from Ninety One that the name for the below fund will change on 4/10/2021. Ninety One Cautious Mngd I Acc changing to Ninety One Gbl No immediate action required
    October 2021 RWC Diversified Return Fund Fund Closure - RWC Diversified Return Fund   We have received a notification from RWC informing us that on 07.10.2021 they will be closing the RWC Diversified Return BH Fund. All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to Buys and Sells on 30.09.2021. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    October 2021 Liontrust US Income Fund Merger - Liontrust US Income Fund   We have received notification from Liontrust Investment Management Limited informing us of a Scheme of Arrangement involving the funds listed below. The effective date of the Scheme of Arrangement is 08/10/2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 01/10/2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Liontrust US Income C Acc changing to Liontrust Global Dividend C Acc GBP| |Liontrust US Income C Inc changing to Liontrust Global Div C Inc GBP| No immediate action required
    October 2021 Nikko AM Japan Value Fund Settlement Changes - Nikko AM Japan Value Fund   We have received a corporate action notification from Nikko Asset Management detailing that the below funds dealing deadline will change. As a result, the settlement No immediate action required
    October 2021 Allianz UK Opportunities Name Change - Allianz UK Opportunities   We have received notification from Allianz that the name for the below funds will change on 12.10.2021. |Allianz UK Opportunities A Acc changing to Allianz UK Listed Opportunities A Acc| |Allianz UK Opportunities C Acc changing to Allianz UK Listed Opportunities C Acc| |Allianz UK Opportunities I Acc changing to Allianz UK Listed Opportunities I Acc| No immediate action required
    October 2021 Liontrust Global Equity Fund Name change - Liontrust Global Equity Fund   We have received notification from Liontrust that the name for the below funds will change 15.10.2021. | Liontrust Global Equity C Inc changing to Liontrust Gbl Innovation C Inc | Liontrust Global Equity C Acc changing to Liontrust Gbl Innovation C Acc | No immediate action required
    October 2021 Genesis Emerging Markets Fund Tender offer - Genesis Emerging Markets Fund   We have received a notification from Winterfloods informing the below asset will be going through a Tender Offer. Holders can elect to realise all none or some of their shares at a cash price which will represent a 2% discount to the Net Asset Value on the calculation date of 18/10/21. Please note that this is only applicable is the offer was taken up. If the offer was taken up, compulsory redemption of units will be carried out. | Genesis Emerging Mkt GBP(I) | Genesis Emerging Mkt GBP(N) | Genesis Emerging Mkt GBP(G) | No immediate action required
    October 2021 Rathbone Greenbank Global Sustainability Fund Conversion - Rathbone Greenbank Global Sustainability Fund   We have received a notification from Rathbone informing us of a Conversion involving the funds listed below. The effective date of the conversion is 25th October 2021. Model portfolios will be affected until the conversions has completed. Please note, the funds will be closed to buys and sells as of the 18th October 2021. All model portfolios and holdings will be repointed to the receiving fund when the conversion is processed. Rathbone Greenbank Gbl Sust FdIA(G) converts to Rathbone GB Gbl Sustnblty S Acc(G) | Rathbone Greenbank Gbl Sust FdIA(N) converts to Rathbone GB Gbl Sustnblty S Acc(N) | Rathbone Greenbank Gbl Sust FdIA(I) converts to Rathbone GB Gbl Sustnblty S Acc(I) | No immediate action required
    October 2021 Jupiter Absolute Return Fund I Acc Name Change - Jupiter Flexible Macro Fund   The name of the fund will change to Jupiter Flexible Macro Fund and the investment objective will be updated No immediate action required
    October 2021 Schroder MM Diversity Tactical Fund  Merger - Schroder Blended Portfolio 7   Proposed Scheme of Arrangement to merge Schroder MM Diversity Tactical Fund into Schroder Blended Portfolio 7 No immediate action required
    October 2021 Schroder MM Diversity Balanced Fund Merger - Schroder Blended Portfolio 6   Proposed Scheme of Arrangement to merge Schroder MM Diversity Balanced Fund into Schroder Blended Portfolio 6 No immediate action required
    October 2021 UBS Japan UCITS Fund Closure - UBS Japan UCITS   We have received a notification from Winterfloods informing us that on the 29.10.2021 they will be closing the UBS MSCI JAPAN UCITS A GBP ACC HDG fund. All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to Buys and Sells on the 22.10.2021. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    September 2021 M&G Global Select Fund I Inc GBP Notification - Fund Changes   Your opportunity to vote on a proposal to amend the name, investment objective, investment policy and investment approach of the M&G Global Select Fund No immediate action required
    September 2021 'WM Morrison Supermarket Ordinary Shares 10p Scheme of Arrangement    For the reasons set out in this document, the Morrisons Board recommends unanimously that Morrisons Shareholders vote in favour of the Scheme at the Court Meeting and the Resolution at the General Meeting, as the Morrisons Directors have irrevocably undertaken to do in respect of their own beneficial holdings of Morrisons Shares, and that you take the action described below No immediate action required
    September 2021 'Jupiter Absolute Return Fund I Acc Notification - Fund Changes   Name change and investment objective change No immediate action required
    September 2021 'Ninety One Cautious Managed Fund I Acc Notification - Fund Changes   Name change and investment objective change No immediate action required
    September 2021 'Aberdeen UK Property Fund I Inc 'Scheme of Arrangement    Scheme of arrangement for the Merger of the Aberdeen Feeder Fund with the SLI Feeder Fund No immediate action required
    September 2021 Blackrock Funds Name Change - Blackrock   We have received notification from BlackRock that the name for the below fund will change on 06/09/2021. |BlackRock Global Equity Acc changing to BlackRock Dev Mkts Sust Eq Acc| |BlackRock Global Equity Inc changing to BlackRock Dev Mkts Sust Eq Inc| |BlackRock Global Equity D Acc changing to BlackRock Dev Mkts Sust Eq D Acc| No immediate action required
    September 2021 BNY Long Corporate Bond Corporate Bond Fund Closure - BNY Long Corporate Bond   We have received a notification from BNY Mellon Investment Management informing us that on 07.09.2021 they will be closing the BNY Mellon Long Corporate Bond Fund. All holdings on the effective date will be compulsorily redeemed. |BNY Mellon Long Corporate Bond I| The Funds will be closed to buys and sells on 31.08.2021. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    September 2021 HSBC European Growth Fund Merger - HSBC European Growth Fund   We have received a notification from HSBC Global Asset Management UK informing us of a merger involving the funds listed below. The effective date of the merger is the 10/09/2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sells as of the 03/09/2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. | HSBC European Growth C Acc(I) changing to HSBC Europe ex-UK Equity C Acc | HSBC European Growth C Acc(N) changing to HSBC Europe ex-UK Equity C Acc | HSBC European Growth C Acc(G) changing to HSBC Europe ex-UK Equity C Acc | No immediate action required
    September 2021 PIMCO Asia High Yield Bond Fund Settlement Changes - PIMCO Asia High Yield Bond Fund   We have received a corporate action notification from PIMCO Funds: Global Investors Series detailing that the below funds dealing deadline will change. As a result, the settlement periods will be increased from 2 business days to 3 as of 10.09.2021. Please see a share class breakdown of the changes below: |Pimco Asia High Yield Bond Inst GBP H -- Current Subscription Settlement changing from 2 Days to 3 Days -- Current Redemption Settlement period changing from 2 Days to 3 Days| No immediate action required
    September 2021 FTF Templeton Global Return Bond W Class AMC Changes - FTF Templeton Global Return Bond W Class   AMC Changes - FTF Templeton Global Return Bond W Class No immediate action required
    September 2021 Premier Miton Global Infrastructure Fund IMA Sector Change - Premier Miton Global Infrastructure Fund   We have received notification from Premier Miton that the IA (Investment Association) Sector for the below fund will change to “IA Infrastructure”, effective from 13.09.2021. This relates to the below funds: |Premier Miton Gb Infrst Inc B Acc GBP and Premier Miton Gb Infrst Inc B Inc GBP| No immediate action required
    September 2021 AXA Funds Name Change - AXA   We have received notification from AXA that the name for the below fund will change on 13.09.2021. |AXA Framlington UK Growth Inc changing to AXA Framlington UK SustEq Inc| |AXA Framlington UK Growth Acc changing to AXA Framlington UK SustEq Acc| |AXA Framlington UK Growth Z changing to AXA Framlington UK SustEq Z| No immediate action required
    September 2021 Chase de Vere Assured Fund Fund Redemptions   In a recent shareholder update, it was announced that the sale of the fund’s portfolio of assets, to fund redemption payments, was subject to a NAV discount of approximately 70%. The precise discount will vary by share class based on different charging structures and currency exposures that applied. Timescales for any redemption payments remain unknown and no further information is available at this time. No immediate action required
    September 2021 Prudential Plc Ordinary Shares 5p Demerger   Proposed demerger of Jackson from the Prudential Group and Notice of General Meeting No immediate action required
    September 2021 Standard Life Inv UK Real Estate Income Feeder Fund Platform 1 Inc Fund Merger   Scheme of arrangement for the Merger of the SLI Income Feeder Fund with the SLI Accumulation Feeder Fund No immediate action required
    September 2021 First Sentier Emerging Markets Bond Fund Fund Closure - First Sentier Emerging Markets Bond Fund   We have received a notification from First Sentier informing us that on the 16.09.2021 they will be closing the First Sentier Emerging Markets Bond Fund. All holdings on the effective date will be compulsorily redeemed. |First Sentier Emrg Mkts Bd B Acc(G)|First Sentier Emrg Mkts Bd B Acc(N)|First Sentier Emrg Mkts Bd B Acc(I)| The Fund will be closed to Buys and Sells on the 09.09.2021. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    September 2021 AXA World Funds Framlington Clean Economy Fund Name Change - AXA World Funds Framlington Clean Economy Fund   We have received notification from AXA that the name for the below funds will change 16.09.2021. |AXA WF Frmlgtn Cln Ecnmy FH Cap changing to AXA WF ACT Frmlgtn Cln Ecnmy| No immediate action required
    September 2021 Home REIT Open Offer - Home REIT   We have received a notification from Winterfloods informing us that the below asset will be going through an Open Offer. |HOME REIT PLC ORD GBP 0.01| The terms are 1 new share for every 1 existing share held at a price of GBP 1.09 per share. No Excess Facility is available. Please note that this is only applicable is the offer was taken up. If the offer was taken up, compulsory purchase of units will be carried out. Please note this will impact model portfolios. No immediate action required
    September 2021 Standard Life UK Real Estate Fund Merger - Standard Life UK Real Estate Fund   We have been notified by Aberdeen Standard Investments of a merger involving the funds listed below, effective 24/09/2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sells as of17/09/2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. Stan Life Inv UK RlEst IncFr A merging into Stan Life Inv UK RlEst AccFr A | Stan Life Inv UKRlEst IncFr Inst merging into Stan Life Inv UKRlEstAccFr Inst | Stan Life Inv UKRlEst IncFr R P1 merging into Stan Life Inv UKRlEstAccFr R P1 No immediate action required
    September 2021 Premier Miton Global Infrastructure Merger - Premier Miton Global Infrastructure   We have received notification from Premier Miton informing us of a Scheme of Arrangement involving the funds listed below. The effective date of the Scheme of Arrangement is the 26/09/2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on the 17/09/2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Premier Glb Infrstrtr C Inc(G) changing to Premier Miton Gb Infrst Inc B Inc GBP (G) | Premier Glb Infrstrtr C Inc(N) changing to Premier Miton Gb Infrst Inc B Inc GBP (N) | Premier Glb Infrstrtr C Inc(I) changing to Premier Miton Gb Infrst Inc B Inc GBP (I) | Premier Glb Infrstrtr Inc C Acc(G) changing to Premier Miton Gb Infrst Inc B Acc GBP (G) | Premier Glb Infrstrtr Inc C Acc(N) changing to Premier Miton Gb Infrst Inc B Acc GBP (N) | Premier Glb Infrstrtr Inc C Acc(I) changing to Premier Miton Gb Infrst Inc B Acc GBP (I) | No immediate action required
    September 2021 Aviva Multi Strategy Target Income Fund Closure - Aviva Multi Strategy Target Income   We have received a notification from Aviva Investors informing us that on 27.09.2021 they will be closing the Aviva Investors Multi-Strategy Target Income Fund. All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to Buys and Sells on 20.09.2021. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    September 2021 Standard Life Inv UK Real Estate Income Feeder Fund Platform 1 Inc Fund Merger   Proposed scheme of arrangement for the merger No immediate action required
    September 2021 Aberdeen UK Property Feeder Unit Trust I Inc Fund Merger   Proposed scheme of arrangement for the merger No immediate action required
    August 2021 Stewart Investors Worldwide Sustainability Fund B Acc GBP Fund changes   Various changes are being made, some of which relate to all funds and some only to certain of the funds. None will result in any portfolio re-alignment and there will, therefore, be no associated transaction costs to the funds. All other costs (such as the costs of this mailing) will be paid by us. Changes include, changes to the investment policy and dealing days  No immediate action required
    August 2021 Stewart Investors Asia Pacific Leaders Sustainability Fund B Acc GBP Fund changes   Various changes are being made, some of which relate to all funds and some only to certain of the funds. None will result in any portfolio re-alignment and there will, therefore, be no associated transaction costs to the funds. All other costs (such as the costs of this mailing) will be paid by us. Changes include, changes to the investment policy and dealing days  No immediate action required
    August 2021 Stewart Investors Asia Pacific Sustainability Fund B Acc GBP Fund changes   Various changes are being made, some of which relate to all funds and some only to certain of the funds. None will result in any portfolio re-alignment and there will, therefore, be no associated transaction costs to the funds. All other costs (such as the costs of this mailing) will be paid by us. Changes include, changes to the investment policy and dealing days  No immediate action required
    August 2021 First Sentier Global Listed Infrastructure Fund B Inc GBP Fund changes   Various changes are being made, some of which relate to all funds and some only to certain of the funds. None will result in any portfolio re-alignment and there will, therefore, be no associated transaction costs to the funds. All other costs (such as the costs of this mailing) will be paid by us. Changes include, changes to the investment policy and dealing days  No immediate action required
    August 2021 WM Morrison Supermarket Ordinary Shares 10p Scheme of Arrangement    For the reasons set out in this document, the Morrisons Board recommends unanimously that Morrisons Shareholders vote in favour of the Scheme at the Court Meeting and the Resolution at the General Meeting, as the Morrisons Directors have irrevocably undertaken to do in respect of their own beneficial holdings of Morrisons Shares, and that you take the action described below No immediate action required
    August 2021 Quilter Fund OCF Charge - Quilter   We have received a notification from Quilter that the OCF charge for the below fund will be changed on 01.08.2021. |Quilter Inv Glb PrpSec R Hdg Inc changing from 1.15% to 1.07%| No immediate action required
    August 2021 Aviva Investors Funds FMF & OCF Change - Aviva Investors   We have a received notification from Aviva Investors to advise that the FMF charge and OCF charge for the below funds will be changed on 02.08.2021. |Aviva Inv US Eq Inc II 2 Inc - FMF changing from 0.88% to 0.75% - OCF changing from 0.88% to 0.75%| |Aviva Inv US Eq Inc II 2 Acc - FMF changing from 0.88% to 0.75% - OCF changing from 0.88% to 0.75%| |Aviva Inv US Equity Income 2 Inc - FMF changing from 0.88% to 0.75% - OCF changing from 0.88% to 0.75%| No immediate action required
    August 2021 Legg Mason Funds ICVC Fund Name Change - Legg Mason Funds ICVC   We have received notification from Legg Mason that the name for the below funds will change on 07.08.2021. No immediate action required
    August 2021 Franklin Templeton Multiple Name Change - Franklin Templeton Multiple   We have received notification from Franklin Templeton that the names for the below funds will change effective 07.08.2021. |Franklin UK Opps W Acc changing to FTF Franklin UK Opps W Acc | Franklin US Opps W Acc changing to FTF Franklin US Opps W Acc | Franklin UK Opps W Inc changing to FTF Franklin UK Opps W Inc | Franklin UK Gilt W Acc changing to FTF Franklin UK Gilt W Acc | Franklin UK Gilt W Inc changing to FTF Franklin UK Gilt W Inc | Franklin UK Mid Cap W Acc changing to FTF Franklin UK Mid Cap W Acc | Franklin UK Mid Cap W Inc changing to FTF Franklin UK Mid Cap W Inc | Franklin UK Mgrs Focus S Acc changing to FTF Franklin UK Mgrs Focus S Acc | Franklin UK Smaller Cos W Acc changing to FTF Franklin UK SmallerCos W Acc | Franklin UK Mgrs' Focus W Acc changing to FTF Franklin UK Mgrs Focus W Acc | Franklin UK Smaller Cos W Inc changing to FTF Franklin UK SmallerCos W Inc | Templeton Gbl Tot Ret Bd W Acc changing to FTF Templeton Gbl TotRetBd W Acc | Templeton Gbl Tot Ret Bd W Inc changing to FTF Templeton Gbl TotRetBd W Inc | Franklin UK Equity Income W Acc changing to FTF Franklin UKEquity Income W A | Franklin UK Equity Income W Inc changing to FTF Franklin UKEquity Income W I | Franklin Sterling Corp Bd W Acc changing to FTF Franklin SterlingCorpBd W Ac | Franklin Sterling Corp Bd W Inc changing to FTF Franklin SterlingCorpBd W In | Templeton Gbl Tot Ret Bd WH3 Inc changing to FTF Templeton Gbl TotRetBd WH3 I | Templeton Global Emeg Mkts W Acc changing to FTF Templeton GlobalEmegMkts W A | Templeton Gbl Tot Ret Bd WH3 Acc changing to FTF Templeton GblTotRet Bd WH3 A | Franklin UK Rising Dividend W Inc changing to FTF Franklin UKRisingDividend WI | Franklin UK Rising Dividends W Acc changing to FTF Franklin UKRisingDividend WA | No immediate action required
    August 2021 Kames Income Feeder Fund Closure - Kames Income Feeder   We have received a notification from Aegon Asset Management informing us that on the 09.08.2021 they will be closing the Kames Property Income Feeder Fund. All holdings on the effective date will be compulsorily redeemed. |Kames Prop Income Feeder B Acc| |Kames Prop Income Feeder B Inc| No immediate action required
    August 2021 ASI UKUncnsEq Funds Fund Name Change - ASI UKUncnsEq   We have received notification from Aberdeen Standard Investments that the name for the below funds will change on 09.08.2021. |ASI UKUncnsEq R Acc changing to ASI UK Value Equity R Acc| |ASI UKUncnsEq I Acc changing to ASI UK Value Equity I Acc| |ASI UKUncnsEq R Pf 1 A changing to ASI UK Value Equity R Pf 1 A| No immediate action required
    August 2021 Royal London funds Name and AMC Change - Royal London   We have received notification from Royal London that the name and Fund Management Fee for the below funds will change on 09.08.2021. |Royal London US Tracker Z Acc changing to RL US Equity Tilt Z Acc - AMC changing from 0.25% to 0.14%| |Royal London FTSE 350 Tracker Z Acc changing to RL UK Core Equity Tilt Z Acc - AMC changing from 0.13% to 0.1%| |Royal London Japan Tracker Z changing to RL Japan Equity Tilt Z - AMC changing from 0.25% to 0.14%| |Royal London Asia Pac ex Japan Trk Z changing to RL Asia Pac ex Jap Equity Tilt Z - AMC changing from 0.30% to 0.19%| No immediate action required
    August 2021 **Soft Closed** ASI Emerging Markets Equity Fund I Acc Fund Charges Change   We, Aberdeen Standard Fund Managers Limited (“ASFML”), have recently conducted a review of the way the fund operating expenses are charged across our fund range and, as a result, we plan to standardise the way that fees and expenses are charged across the Funds No immediate action required
    August 2021 Aviva Investors Multi-Strategy Target Income Fund 2 Inc GBP Fund Closure   We are writing to inform you of our decision to close the Aviva Investors Multi-Strategy Target Income Fund (the “Fund”) a sub-fund of Aviva Investors Funds ICVC (the “Scheme”) No immediate action required
    August 2021 **In Liquidation** LF Equity Income Fund C Acc GBP Suspension   As authorised corporate director (“ACD”) of the Fund, we are writing to provide you with an update on the progress of the Fund’s wind up, and to provide additional information to accompany the Company’s annual audited accounts which have been published today. A copy of the accounts, which cover the period 1 April 2020 to 31 March 2021, can be found on our website at https://equityincome.linkfundsolutions.co.uk/investordocumentation/ No immediate action required
    August 2021 ASI UK Unconstrained Equity Fund Platform 1 Acc Investment Objective   We have decided to make amendments to the investment objective and policy of the Fund to clearly articulate the Fund will be applying a “Value” investment approach, going forward. A “Value” investment approach is where the investment team focus on finding companies typically trading at a significant discount to the value of their assets, sales or earnings. No immediate action required
    August 2021 M&G Funds Name Change - M&G   We have received notification from M&G that the name for the below funds will change on 31.08.2021. |M&G Pan European Select A Inc changing to M&G Eur Stn Paris Align A Inc| |M&G Pan European Select A Acc changing to M&G Eur Stn Paris Align A Acc| |M&G Global Select A Inc GBP changing to M&G Gbl Stn Paris Alig A Inc GBP| |M&G Global Select A Acc GBP changing to M&G Gbl Stn Paris Alig A Acc GBP| |M&G Global Select X Inc GBP changing to M&G Gbl Stn Paris Alig X Inc GBP| |M&G Global Select I Inc changing to M&G Gbl Stn Paris Align I Inc| |M&G Pan European Select I Acc changing to M&G Eur Stn Paris Align I Acc| |M&G Pan European Select I Inc changing to M&G Eur Stn Paris Align I Inc| |M&G Global Select I Acc changing to M&G Gbl Stn Paris Align I Acc| No immediate action required
    August 2021 M&G Pan European & Global Select Name Change - M&G Pan European & Global Select   We have received notification from M&G that the name for the below fund will change on 31.08.2021. |M&G Pan European Select A Acc changing to M&G Eu Sust Paris Algnd Fund A A| |M&G Pan European Select A Inc changing to M&G Eu Sust Paris Algnd Fund A I| |M&G Pan European Select I Acc changing to M&G Eu Sust Paris Algnd Fund I A| |M&G Pan European Select I Inc changing to M&G Eu Sust Paris Algnd Fund I I| |M&G Global Select A Acc GBP changing to M&G Gbl Sust Paris Algnd Fund AA| |M&G Global Select A Inc GBP changing to M&G Gbl Sust Paris Algnd Fund AI| |M&G Global Select I Acc changing to M&G Gbl Sust Paris Algnd Fund IA| |M&G Global Select I Inc changing to M&G Gbl Sust Paris Algnd Fund II| |M&G Global Select X Inc GBP changing to M&G Gbl Sust Paris Algnd Fund XI| No immediate action required
    August 2021 Prudential Plc Ordinary Shares 5p Demerger   Proposed demerger of Jackson from the Prudential Group and Notice of General Meeting No immediate action required
    July 2021 Premier Miton Defensive Multi Asset Fund B Acc Fund Charges   On 18.06.2021, the Premier Miton Multi-Conservative Growth Fund was merged into the Premier Miton Defensive Multi Asset Fund. The OCFs for the Premier Miton Defensive Multi Asset Fund have been re-calculated following the merger and updated in the KIIDs. The publication date is stated on each respective KIID document. No immediate action required
    July 2021 Standard Life Aberdeen Plc Ordinary Shares 13 61/63p Name Change     No immediate action required
    July 2021 Sarasin Responsible Global Equity P Acc Investment Policy   The Fund will be clarifying its Investment Policy to reflect that it will avoid investing in companies materially engaged in the extraction of all fossil fuels and not just those engaged in thermal coal and tar sands. No immediate action required
    July 2021 BNY Global Multi Strategy Acc/Inc AMC Changes - BNY Global Multi Strategy Acc/Inc   We have received notification from BNY Mellon that the AMC for the below funds will be changing from 01.07.2021. |BNY Mellon Gbl Multi-Stg Inst W Acc changing from 0.625% to 0.525%| |BNY Mellon Global Multi-Strat W Inc changing from 0.625% to 0.525%| No immediate action required
    July 2021 Baillie Gifford Diversified Growth Fund Charge Changes - Baillie Gifford Diversified Growth Fund   We have received notification from Baillie Gifford that the AMC for the below funds will be changing from 01.07.2021. |Baillie Gifford Divfd Gth B Acc - AMC changing from 0.65% to 0.55%| No immediate action required
    July 2021 Handelsbanken Wealth and Asset Management Soft Closure - Handelsbanken Wealth and Asset Management   We have received a notification from Handelsbanken Wealth and Asset Management that they have decided to close the below funds, and will no longer include new subscriptions into the funds from third party IFAs on 01.07.2021. Please note this will impact model portfolios. |LF Handelsbanken Gth MltAs I Acc| |LF Handelsbanken Bal MutAs I Inc| |LF Handelsbanken Cau MtiAs I Acc| |LF Handelsbanken I Plus MA I Inc| |LF Handelsbanken Bal MulAs I Acc| |LF Handelsbanken DfnMltiAs I Acc| |LF Handelsbanken CauMltiAs D Acc| |LF Handelsbanken GthSus MlAs I A| |LF Handelsbanken CauSus MlAs I A| |LF Handelsbanken BalSustMlAs I A| No immediate action required
    July 2021 Equities for Tavistock & Cannacord Name Change - Equities for Tavistock & Cannacord   We have received notification from Winterfloods that the name for the below fund will change on 05.07.2021. |StandLifeAberdPLCOrd13 61/63P changing to Abrdn Plc| No immediate action required
    July 2021 Ninety One Diversified Growth Fund Name Change - Ninety One Diversified Growth Fund   We have received notification from Ninety One that the name for the below fund will change on 05.07.2021. |Investec Diversified Growth I Inc changing to Ninety One Global Multi-Asset Sustainable Growth I Inc| No immediate action required
    July 2021 Federated Hermes SDG Engagement Equity Fund AMC Change - Federated Hermes SDG Engagement Equity Fund   We have received notification from Federated Hermes that the AMC for the below funds will be changing from 09.07.2021. |Federated Hermes SDGEgtEq F A changing from 0.95% to 0.75%| |Federated Hermes SDGEgtEq FPH A changing from 0.95% to 0.75%| No immediate action required
    July 2021 Pictet Emerging Europe Merger - Pictet Emerging Europe   We have received a notification from Pictet Funds (LUX) informing us of a Scheme of Arrangement involving the funds listed below. The effective date of the Scheme of Arrangement was 12.07.2021. Model portfolios will be affected until the merger has completed. Please note, the funds have been closed to buys and sells with immediate effect. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. Apologies for the lack of notice for this merger, we have been notified after the event took place. |Pictet Emerging Europe P dy GBP changing to Pictet-Russian Equities-P dy GBP| No immediate action required
    July 2021 Smith &Will GblGld&Res B Name Change - Smith &Will GblGld&Res B   We have received notification from Smith & Williamson that the name for the below funds will change on 14.07.2021. |Smith & Will GblGld&Res B changing to SVS Sanlam GblGld&Res B| No immediate action required
    July 2021 Waverton Tactical Equity Name Change - Waverton Tactical Equity   We have received notification from Waverton that the name for the below fund will change effective 16.07.2021. |Waverton Tactical Equity P changing to Waverton Strategic Equity P| No immediate action required
    July 2021 IFSL Avellemy Merger - IFSL Avellemy   We have received notification from IFSL Avellemy informing us of a Scheme of Arrangement involving the funds listed below. The effective date of the Scheme of Arrangement is 17.07.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 09.07.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |IFSL Avellemy 4 B Acc changing to IFSL Avellemy 4 A Acc| |IFSL Avellemy 4 B Inc changing to IFSL Avellemy 4 A Inc| |IFSL Avellemy 5 B Acc changing to IFSL Avellemy 5 A Acc| | IFSL Avellemy 5 B Inc changing to IFSL Avellemy 5 A Inc| | IFSL Avellemy 6 B Acc changing to IFSL Avellemy 6 A Acc| | IFSL Avellemy 7 B Acc changing to IFSL Avellemy 7 A Acc| | IFSL Avellemy 3 B Acc changing to IFSL Avellemy 3 A Acc| | IFSL Avellemy 3 B Inc changing to IFSL Avellemy 3 A Inc| | IFSL Avellemy 6 B Inc changing to IFSL Avellemy 6 A Inc| No immediate action required
    July 2021 Aviva Property Fund Closure - Aviva Property   We have received a notification from Aviva informing us that on 19.07.2021 they will be closing the Aviva Investors UK Property Fund, the Aviva Investors UK Property Feeder Inc Fund and the Aviva Investors UK Property Feeder Acc Fund. All holdings on the effective date will be compulsorily redeemed. The Funds will be closed to buys and sells on 12.07.2021. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    July 2021 AXA Framlington European Z Acc Name Change - AXA   We have received notification from AXA that the name for the below fund will change on 28.07.2021. |AXA Framlington European Z Acc changing to AXA ACT Framlington ClnEcnFundZA| No immediate action required
    July 2021 Optimal Multi Asset Defensive & Optimal MA Opportunities A Acc Funds Fund Closure - Optimal Multi Asset Defensive & Optimal MA Opportunities A Acc Funds   We have received a notification from Optimal Global Investment Funds plc informing us that on 30.07.2021 they will be closing the Optimal Multi Asset Defensive Fund and Optimal MA Opportunities A Acc Fund. All holdings on the effective date will be compulsorily redeemed. The Funds will be closed to buys and sells on 23.07.2021. Any model portfolios that contain the Funds will become invalid and need to be updated. No immediate action required
    July 2021 LF Lindsell Train UK Equity Fund Inc Clarification of the investment policy   We wish to clarify the investment policy of the Company is to invest at least 70% of its assets directly in shares of companies that are domiciled or incorporated in the United Kingdom, and up to 10% of its assets in companies that are listed on an exchange in the United Kingdom. No immediate action required
    July 2021 Aviva Investors Multi-Strategy Target Income Fund Fund Closure - 24 September 2021 (last dealing day)   The Fund has also experienced significant outflows this year, with additional assets at risk of redemption. If these assets were also to redeem, this will reduce the Fund to a size we believe will no longer be able to achieve the efficiencies and economies associated with collective investment schemes. Our priority is to protect the interests of existing investors in the Fund. Having considered the options available for the future of the Fund and in the best interests of its investors, we have decided the most appropriate action now is to close the Fund Our advisers will be in touch with affected clients to discuss next steps.
    June 2021 FP Octopus UK Multi Cap Income Fund Fund Closure   Class S is approaching its investment limit, total net assets of £50,000,000 (as set out in the
prospectus of the Fund), and it is therefore within our powers to close this class to further investment
should we deem it appropriate.
We have therefore taken the decision to close Class S following the 12pm valuation point on 4th June
2021. After this time, Class S shareholders will no longer be able to add to their existing investment
and no new investors will be accepted.
No immediate action required
    June 2021 Janus Henderson Absolute Return Fund I Acc GBP Fund Charges   Changes to the performance fee calculation methodology No immediate action required
    June 2021 **Delisted** RSA Insurance Group Plc Ordinary Shares GBP 1 Scheme of Arrangement    Recommended Cash Acquisition of RSA Insurance Group plc by Regent Bidco Limited No immediate action required
    June 2021 **Soft Closed** Federated Hermes Global Emerging Markets Equity Fund F Acc GBP Soft Closure   The Investment Manager, Hermes Investment Management Limited, manages capacity in a responsible and prudent manner that is in the best interests of existing investors. After a detailed analysis, the decision was made to close the Fund to new investors in order to maintain both liquidity and portfolio characteristics in the current market environment. No immediate action required
    June 2021 Invesco Japan Fund (UK) Z Acc Fund Changes   The fund manager will incorporate environmental, social and governance (“ESG”) factors in their investment decisions and as a result the Fund’s investment policy and strategy will be updated (see Appendix for more detail). The management of the Fund will change from Tony Roberts (Henley based Japanese Equities Team) to Daiji Ozawa (Chief Investment Officer of Japanese Equities, based in Tokyo). To reflect the changes, the Fund name will change to the Invesco Responsible Japanese Equity Value Discovery Fund (UK) and the benchmark used to compare the Fund’s performance will change from the Investment Association Japan Sector to the TOPIX Index (Net Total Return). No immediate action required
    June 2021 BNY Global Multi Strategy Acc/Inc AMC Changes - BNY Global Multi Strategy Acc/Inc   We have received notification from BNY Mellon that the AMC for the below funds will be changing from 01.07.2021. |BNY Mellon Gbl Multi-Stg Inst W Acc changing from 0.625% to 0.525%| |BNY Mellon Global Multi-Strat W Inc changing from 0.625% to 0.525%| No immediate action required
    June 2021 Baillie Gifford Diversified Growth Fund Charge Changes - Baillie Gifford Diversified Growth Fund   We have received notification from Baillie Gifford that the AMC for the below funds will be changing from 01.07.2021. |Baillie Gifford Divfd Gth B Acc - AMC changing from 0.65% to 0.55%| No immediate action required
    June 2021 Handelsbanken Wealth and Asset Management Soft Closure - Handelsbanken Wealth and Asset Management   We have received a notification from Handelsbanken Wealth and Asset Management that they have decided to close the below funds, and will no longer include new subscriptions into the funds from third party IFAs on 01.07.2021. Please note this will impact model portfolios. |LF Handelsbanken Gth MltAs I Acc| |LF Handelsbanken Bal MutAs I Inc| |LF Handelsbanken Cau MtiAs I Acc| |LF Handelsbanken I Plus MA I Inc| |LF Handelsbanken Bal MulAs I Acc| |LF Handelsbanken DfnMltiAs I Acc| |LF Handelsbanken CauMltiAs D Acc| |LF Handelsbanken GthSus MlAs I A| |LF Handelsbanken CauSus MlAs I A| |LF Handelsbanken BalSustMlAs I A| No immediate action required
    June 2021 Ninety One Diversified Growth Fund Name Change - Ninety One Diversified Growth Fund   We have received notification from Ninety One that the name for the below fund will change on 05.07.2021. |Investec Diversified Growth I Inc changing to Ninety One Global Multi-Asset Sustainable Growth I Inc| No immediate action required
    June 2021 IFSL Avellemy Merger - IFSL Avellemy   We have received notification from IFSL Avellemy informing us of a Scheme of Arrangement involving the funds listed below. The effective date of the Scheme of Arrangement is 17.07.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 09.07.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |IFSL Avellemy 4 B Acc changing to IFSL Avellemy 4 A Acc| |IFSL Avellemy 4 B Inc changing to IFSL Avellemy 4 A Inc| |IFSL Avellemy 5 B Acc changing to IFSL Avellemy 5 A Acc| | IFSL Avellemy 5 B Inc changing to IFSL Avellemy 5 A Inc| | IFSL Avellemy 6 B Acc changing to IFSL Avellemy 6 A Acc| | IFSL Avellemy 7 B Acc changing to IFSL Avellemy 7 A Acc| | IFSL Avellemy 3 B Acc changing to IFSL Avellemy 3 A Acc| | IFSL Avellemy 3 B Inc changing to IFSL Avellemy 3 A Inc| | IFSL Avellemy 6 B Inc changing to IFSL Avellemy 6 A Inc| No immediate action required
    June 2021 Aviva Property Fund Closure - Aviva Property   We have received a notification from Aviva informing us that on 19.07.2021 they will be closing the Aviva Investors UK Property Fund, the Aviva Investors UK Property Feeder Inc Fund and the Aviva Investors UK Property Feeder Acc Fund. All holdings on the effective date will be compulsorily redeemed. The Funds will be closed to buys and sells on 12.07.2021. Any model portfolios that contain the Fund will become invalid and need to be updated. Our advisers will be in touch with affected clients to discuss next steps.
    June 2021 Optimal Multi Asset Defensive & Optimal MA Opportunities A Acc Funds Fund Closure - Optimal Multi Asset Defensive & Optimal MA Opportunities A Acc Funds   We have received a notification from Optimal Global Investment Funds plc informing us that on 30.07.2021 they will be closing the Optimal Multi Asset Defensive Fund and Optimal MA Opportunities A Acc Fund. All holdings on the effective date will be compulsorily redeemed. The Funds will be closed to buys and sells on 23.07.2021. Any model portfolios that contain the Funds will become invalid and need to be updated. Our advisers will be in touch with affected clients to discuss next steps.
    May 2021 M&G Global Themes Fund I Inc GBP Fund Charges   New annual charges for all share classes of this fund No immediate action required
    May 2021 M&G Corporate Bond Fund I Inc GBP Fund Charges   New annual charges for all share classes of this fund No immediate action required
    May 2021 RSA Insurance Group Plc Ordinary Shares GBP 1 Cancellation of the listing of RSA Shares   This document contains a proposal which, if implemented, will result in the cancellation of the listing of RSA Shares on the Official List and of trading of RSA Shares on the London Stock Exchange No immediate action required
    May 2021 UBS Global Sterling Corporate AMC and OCF Change - UBS Global Sterling Corporate   We have received notification from UBS that the AMC and OCF Charge for the below fund will be changed on 01.05.2021. |AMC changing from 0.15% to 0.11%| |OCF changing from 0.20% to 0.17%| No immediate action required
    May 2021 L&G FMF Change - L&G   We have received a notification from L&G that the FMF charge for the below funds will be changed on 01.05.2021. |L&G Global Equity Index I Acc changing from 0.25% to 0.21%| |L&G Global Equity Index I Inc changing from 0.25% to 0.21%| |L&G Gbl Infln Lkd Bd Index I Acc changing from 0.25% to 0.23%| |L&G Gbl Infln Lkd Bd Index I Inc changing from 0.25% to 0.23%| |L&G Gbl Infln Lkd Bd Index C Inc changing from 0.15% to 0.13%| |L&G Gbl Infln Lkd Bd Index C Acc changing from 0.15% to 0.13%| No immediate action required
    May 2021 UBS OCF Change - UBS   We have received a notification from UBS that the AMC charge for the below funds will be changed on 01.05.2021. |AMC changing from 0.15% to 0.11%| No immediate action required
    May 2021 Dimensional funds AMC & OCF Change - Dimensional   We have received notification from Dimensional that the AMC and OCF Charge for the below funds will be changed on 04.05.2021. No immediate action required
    May 2021 Lyxor MSCI Sth Afr UCITS ETF Fund Closure - Lyxor MSCI South African   We have received a notification from Lyxor informing us that on 05.05.2021 they closed the Lyxor MSCI South African ETF. All holdings on the effective date will be compulsorily redeemed. The Funds has been closed to buys and sells with immediate effect. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    May 2021 M&G Property Portfolio & M&G Feeder of Property Portfolio Suspension - M&G Property Portfolio & M&G Feeder of Property Portfolio   We have received a notification from M&G stating that the suspension will be lifted From the 10.05.2021 for all share classes and will be available for trading. |M&G Feeder Property Ptfl I Acc| |M&G Feeder Property Portfolio I Inc| |M&G Feeder Property Portfolio A Acc| |M&G Feeder Property Portfolio A Inc| No immediate action required
    May 2021 IFSL Sinfonia Name Change - IFSL   We have received notification from IFSL Fund Services that the name for the below funds will change on 21.05.2021. IFSL Sinfonia Income Pfl A Acc changing to VT Sinfonia Income Pfl A Acc | IFSL Sinfonia Inc & Gth Pfl A Acc changing to VT Sinfonia Inc & Gth Pfl A Acc | IFSL Sinfonia Ca Mgd Pfl A Acc changing to VT Sinfonia Ca Mgd Pfl A Acc | IFSL Sinfonia Bal Mgd Pfl A Acc changing to VT Sinfonia Bal Mgd Pfl A Acc | IFSL Sinfonia Adv Gth Pfl A Acc changing to VT Sinfonia Adv Gth Pfl A Acc | No immediate action required
    May 2021 FSSA Global Emerging Markets Soft Closure - FSSA Global Emerging Markets   We have received a notification from First Sentier that that they have decided to close the First Sentier Gbl Emg Mkts Fcs E Fund to new investors on 14.05.2021 as the assets of the fund now exceed £50,000,000. Please note this will impact model portfolios. No immediate action required
    May 2021 Schroder Name Change - Schroder   We have received notification from Schroder that the name for the below funds will change on 27.05.2021. |Schroder Portfolio 7 Z Acc GBP changing to Schroder Blended Portfolio 7 Z Acc GBP| No immediate action required
    May 2021 Momentum Investment and Focus Funds ACD and Name Change - Momentum Investment and Focus Funds   We have received notification from MI Momentum that the name for the below funds will change on 28.05.2021. |MI Momentum Focus 3 A changing to VT Momentum Diversified Cautious| |MI Momentum Focus 5 A Acc changing to VT Momentum Diversified Moderate| |MI Momentum Focus 4 A Acc changing to VT Momentum Diversified Balanced| No immediate action required
    May 2021 Barclays Income Series Fund Merger - Barclays Income Series Fund   We have received notification from Barclays informing us of a Scheme of Arrangement involving the funds listed below. The effective date of the Scheme of Arrangement is 30/05/2021. Model portfolios will be affected until the merger has completed. Please note, the funds have been closed to buys and sales today, 27/05/2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. Bclys UK Core A Dis merging into Barclays UK Alpha Fund | Bclys UK Eq Inc S2 A Dis merging into Barclays UK Equity Income Fund No immediate action required
    May 2021 Janus Henderson Absolute Return Fund I Acc GBP Fund Charges   Changes to the performance fee calculation methodology No immediate action required
    May 2021 Federated Hermes Global Emerging Markets Equity Fund Soft Closure   The Investment Manager, Hermes Investment Management Limited, manages capacity in a responsible and prudent manner that is in the best interests of existing investors. After a detailed analysis, the decision was made to close the Fund to new investors in order to maintain both liquidity and portfolio characteristics in the current market environment. No immediate action required
    May 2021 Aviva Investors UK Property Fund, the Aviva Investors UK Property Feeder Inc Fund and the Aviva Investors UK Property Feeder Acc Fund Fund Closure   As investors will be aware, dealing in the Funds was suspended in March 2020 due to material uncertainty over the valuation of property within the portfolio, brought about by the Covid-19 pandemic. During this period of economic uncertainty, it has become increasingly challenging to generate positive returns whilst also providing the necessary liquidity to re-open the Funds. On 31 January 2021 the Value Assessment for these Funds determined that a strategic review should be undertaken to ensure investors’ long-term interests could continue to be served. This review, combined with forecast redemption levels upon re-opening, concluded that the Funds’ ability to fully benefit from the economies of scale and the diversification of investments that collective investment schemes normally bring would soon be limited. Size is particularly important for funds that invest in property directly because the costs involved in acquiring, managing and disposing of properties are usually much higher than the costs associated with other asset types. As such we have concluded that it would now be in investors’ interests to wind-up the Funds and return cash to investors in a fair and orderly manner. No immediate action required
    May 2021 Rolls-Royce Holdings Plc C Shares Redemptions    The Board decided in 2020 that, given the uncertain macro outlook, they would not recommend a final shareholder payment for 2019 or make an interim shareholder payment for 2020. In addition, under the terms of certain of its recent loan facilities, the Company is restricted from declaring, making or paying distributions to shareholders on or prior to 31 December 2022 and from declaring, making or paying distributions to shareholders from 1 January 2023 unless certain conditions are satisfied.However, the restrictions on distributions do not prevent shareholders from redeeming C Shares issued in January 2020 or prior to that. No immediate action required
    May 2021 Assured Fund Redemptions    The sale of the entire portfolio has been completed. We are now writing to explain the steps we are now taking to follow through on meeting redemption requests from the Fund No immediate action required
    April 2021 Standard Life Global SICAV Management Fees - Standard Life Global SICAV   We have received notification from Standard Life that the AMC Charge for the below funds will be changed on 01.04.2021. |StanLife Inv CrpBd DH D changing from 0.90% to 0.75%| |StanLife Inv Global Bond Buh changing from 0.95% to 0.75%| |StanLife Inv GblEM EqUnctrd Buh changing from 0.95% to 0.75%| No immediate action required
    April 2021 Aegon Diversified Growth B Name Change - Aegon Diversified Growth B   We have received notification from Aegon that the name for the below fund will change on 01.04.2021. |Aegon Diversified Growth B Acc changing to Aegon Sustainable Diversified Growth B Acc| No immediate action required
    April 2021 Pzena Global Name Change - Pzena   We have received notification from Pzena that the Name for the below fund will be changing. |Pzena Global Expanded Value Fund changing to Pzena Global Value Fund| No immediate action required
    April 2021 BNY Mellon Corporate Bond Fund Name Change and AMC Change - BNY Mellon Corporate Bond Fund   We have received notification from BNY Mellon that the Fund Name and the AMC charge for the below funds will change on 01.04.2021. |BNY Mellon Corporate Bond W Inc changing to Responsible Horizons UK Corporate Bond W Inc| |BNY Mellon Corporate Bond W Acc changing to Responsible Horizons UK Corporate Bond W Acc| |BNY Mellon Corporate Bond W Inc changing from 0.50% to 0.35%| |BNY Mellon Corporate Bond W Acc changing from 0.50% to 0.35%| No immediate action required
    April 2021 Janus Henderson UK Absolute Return Fund Name Change - Janus Henderson   We have received notification from Janus Henderson that the name for the below funds will be changing. |Janus Henderson UK Absolute Return Fund A Acc changing to Janus Henderson Absolute Return Fund A Acc| |Janus Henderson UK Absolute Return Fund I Acc changing to Janus Henderson Absolute Return Fund I Acc| No immediate action required
    April 2021 VT Seneca Name Change - VT Seneca   We have received a notification from Valu-Trac to advise that the name for the below funds will change on 06.04.2021. |VT Seneca Diversified Grth B Acc changing to VT Momentum Diversified Grth B Acc| |VT Seneca Diversified Inc B Inc changing to VT Momentum Diversified Inc B Inc| No immediate action required
    April 2021 Liontrust European Growth and Enhanced Merger - Liontrust European Growth and Enhanced   We have received notification from Liontrust informing us of a Scheme of Arrangement involving the fund listed below. The effective date of the Scheme of Arrangement is the 09.04.2021. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 01.04.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Liontrust Eurpn Income I Inc changing to Liontrust European Growth I| |Liontrust Eurpn Income I Acc changing to Liontrust European Growth I| |Liontrust EurEnhnd Inc I Hg Inc changing to Liontrust European Enhanced Income| |Liontrust EurEnhnd Inc I Hg Acc changing to Liontrust European Enhanced Income| No immediate action required
    April 2021 Sarasin Merger - Sarasin   We have received notification from Sarasin informing us of a Scheme of Arrangement involving the fund listed below. The effective date of the Scheme of Arrangement is 09.04.2021. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 01.04.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Sarasin FoF Gbl Div Grw P Acc changing to Sarasin GlobalSar Strat P Acc| No immediate action required
    April 2021 Threadneedle Funds Merger - Threadneedle   We have received notification from Threadneedle informing us of a Scheme of Arrangement involving the funds listed below. In this case the names of the funds are not changing as they will merge the Existing Funds into equivalent, new sub-funds within the Threadneedle Opportunity Investment Funds ICVC, an open-ended investment company. The effective date of the Scheme of Arrangement is 09.04.2021. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 01.04.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Threadneedle Managed Equity Focused I| |Threadneedle Managed Equity Z Acc| |Threadneedle Managed Equity Focused Z Acc| |Threadneedle Managed Equity & Bond Z Acc| |Threadneedle Managed Bond Focused Z Acc| |Threadneedle Managed Bond Z Acc| |Threadneedle Managed Equity Inc Z Inc| No immediate action required
    April 2021 Standard Life Global SICAV Name Change - Standard Life Global SICAV   We have received notification from Standard Life that the name for the below funds will be changing. |StanLife Inv CrpBd DH D changing to ASSII-Euro Cp Bd D Inc HDG GBP| |StanLife Inv Global Bond Buh changing to ASSII-SLI Gbl Gov Bd B Acc GBP| |StanLife Inv GblEM EqUnctrd Buh changing to ASSII-Emg Mks Foc Eq B Acc GBP| No immediate action required
    April 2021 Ardevora UK Income Fund Merger - ES Ardevora UK Income Fund   We have received notification from ES Ardevora informing us of a Scheme of Arrangement involving the funds listed below. The effective date of the Scheme of Arrangement was 16.04.2021. Model portfolios will be affected until the merger has completed. Please note, the funds will be closed to buys and sales on 09.04.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |ES Ardevora UK Income A Acc changing to ES R&M UK Equity Income B| No immediate action required
    April 2021 EF 8AM Multi Strategy Name Change - EF 8AM Multi Strategy   We have received notification from Way Fund Managers that the name for the below funds will change on 16.04.2021. |EF 8AM Multi-Strat Ptfl II A Inc changing to EF 8AM Cautious Fund A| |EF 8AM Multi-Strat Ptfl III A changing to EF 8AM Balanced Fund A| |EF 8AM Multi-Strat Ptfl IV A changing to EF 8AM Growth Fund A| No immediate action required
    April 2021 Fidelity Name Change - Fidelity   We have received notification from Fidelity that the Name for the below funds will be changing. |Global Infrastructure Fund changing to the Global Dividend Plus Fund| No immediate action required
    April 2021 DMS Investment Management Name Change and OCF Change - DMS Investment Management   We have received notification from DMS Investment Management that the Fund Name and the OCF charge for the below funds will change on 19.04.2021. |DMS WOLSELEY Cautious Retail Acc changing to MGTS St Johns Cautious Retail Acc| |DMS WOLSELEY Cautious Retail Inc changing to MGTS St Johns Cautious Retail Inc| |DMS WOLSELEY Balanced Retail Acc changing to MGTS St Johns Balanced Retail Acc| |DMS WOLSELEY Balanced Retail Inc changing to MGTS St Johns Balanced Retail Inc| |HC WOLSELEY Growth Retail Acc changing to MGTS St Johns Growth Retail Acc| |HC WOLSELEY Growth Retail Inc changing to MGTS St Johns Growth Retail Inc| --- |DMS WOLSELEY Cautious Retail Acc changing from 1.60% to 0.8%| |DMS WOLSELEY Cautious Retail Inc changing from 1.60% to 0.8%| |DMS WOLSELEY Balanced Retail Acc changing from 1.93% to 0.82%| |DMS WOLSELEY Balanced Retail Inc changing from 1.93% to 0.82%| |HC WOLSELEY Growth Retail Acc changing from 1.39% to 0.84%| |HC WOLSELEY Growth Retail Inc changing from 1.39% to 0.84%| No immediate action required
    April 2021 LF Canada Life  Settlement Changes - LF Canada Life   We have received a corporate action notification from LF Canada Life detailing that the below funds settlement periods will be changed from 4 to 3 business days as of 19.04.2021. |LF Canada Life Portfolio III C Acc & LF Canada Life Portfolio IV C Acc - Current Subscription Settlement period changing from 4 days to 3 days, Current Redemption Settlement period from 4 days to 3 days| No immediate action required
    April 2021 Schroder Recovery Fund Z Acc GBP Investment objective   With effect from 31/03/2021, the Fund's investment objective will be changed to include a target benchmark. The Fund will aim to provide capital growth in excess of the FTSE All Share (Gross Total Return) Index. This change is being made so that investors can more easily assess the performacne of the Fund. No immediate action required
    April 2021 Schroder Global Recovery Fund Z Acc GBP Investment objective   With effect from 31/03/2021, the Fund's investment objective will be changed to include a target benchmark. The Fund will aim to provide capital growth in excess of the MSCI World (Net Total Return) Index over a three to five year period. This change has been made so that investors can more easily assess the performacne of the Fund. No immediate action required
    April 2021 Schroder Global Equity Income Fund Z Inc GBP Investment objective   With effect from 31/03/2021, the Fund will use the MSCI World Value (Net Total Return) Index as an additional comparator benchmark alongside the Investment Association Global Equity Income sector average return, due to the Fund's explicit value investment style. No immediate action required
    April 2021 Janus Henderson UK Absolute Return Fund I Acc GBP Name Change   Please be advised that with effect from 6 April 2021 the Janus Henderson UK Absolute Return Fund will be dropping “UK” from its name. Post Brexit, we believe the “UK” in the fund name may represent an increased risk of misinterpretation by investors of a more domestically focussed fund. Since October 2016, the fund’s investment policy allows up to 40% in non-UK investments. The new fund name (Janus Henderson Absolute Return Fund) will be reflected on all fund documents and our website with effect from 6 April 2021. The way in which the fund is managed will not be impacted by the change of name. There is no change to the investment objective or policy, and the fund continues to be managed in the same way. Any administrative costs associated with the name change will be paid for by Janus Henderson. No immediate action required
    April 2021 FP Carmignac European Leaders B Acc Soft Closure of the B Shares - FP Carmignac European Leaders   We have received a notification from Carmignac that they have decided to soft close the below Fund. We will be closing the funds to buys on 22.04.2021. Please note this will impact model portfolios. No immediate action required
    April 2021 FP Carmignac European Leaders B Acc Soft Closure of the B Shares - FP Carmignac European Leaders   We have received a notification from Carmignac that they have decided to soft close the below Fund. We will be closing the funds to buys on 22.04.2021. Please note this will impact model portfolios. No immediate action required
    April 2021 Jupiter Corporate Bond Fund AMC and OCF Change - Jupiter Corporate Bond Fund   We have received a notification from Jupiter that the AMC and OCF Charge for the below funds will be changed on the 30.04.2021. |Jupiter Corporate Bond Fund I Acc AMC changing from 0.40% to 0.25% - OCF changing from 0.64% to 0.49%| |Jupiter Corporate Bond Fund I Inc AMC changing from 0.40% to 0.25% - OCF changing from 0.64% to 0.49%| No immediate action required
    April 2021 Quilter Investors Monthly Income Portfolio Soft Closure - Quilter Investors Monthly Income Portfolio   We have received a notification from Quilter Investors that they have decided they will close the Fund to new investors on 30.04.2021. Please note this will impact model portfolios. No immediate action required
    April 2021 M&G Optimal Income Fund I Inc GBP Fund Charges   New annual charges for all share classes of this fund No immediate action required
    April 2021 M&G Dividend Fund I Inc GBP Fund Charges   New annual charges for all share classes of this fund No immediate action required
    April 2021 M&G Global Dividend Fund I Inc GBP Fund Charges   New annual charges for all share classes of this fund No immediate action required
    April 2021 Premier Miton Cautious Monthly Income Fund B Inc Updated KIIDs   The Key Investor Information Documents (KIIDs) for the Premier Miton Multi Asset Conservative Growth, Premier Miton Defensive Growth and the Premier Miton Worldwide Opportunities Funds have been updated, with OCFs calculated as at 30.11.2020. The KIIDs for the Premier Miton Cautious Monthly Income Fund have also been updated, with OCFs calculated as at 31.12.2020. Each respective publication date is stated on the KIIDs. No immediate action required
    April 2021 Premier Miton Cautious Monthly Income Fund B Acc Updated KIIDs   The Key Investor Information Documents (KIIDs) for the Premier Miton Multi Asset Conservative Growth, Premier Miton Defensive Growth and the Premier Miton Worldwide Opportunities Funds have been updated, with OCFs calculated as at 30.11.2020. The KIIDs for the Premier Miton Cautious Monthly Income Fund have also been updated, with OCFs calculated as at 31.12.2020. Each respective publication date is stated on the KIIDs. No immediate action required
    April 2021 M&G Global Themes Fund I Inc GBP Fund Charges   New annual charges for all shrae classes of this fund No immediate action required
    March 2021 Premier Miton Multi Asset Growth & Income Fund C Acc Charge   At the end of the fund’s financial half-year, we will update the ongoing charges figure in the fund’s report and accounts. If the unaudited figure has increased or reduced by 5% or more compared with the previous figure (for example, if the annual estimated ongoing charge has increased from 1% to 1.05%, representing an increase of 5%), we will also update it in other documents, such as the KIID. No immediate action required
    March 2021 Schroder Global Recovery Fund Z Acc GBP Objective Change   With effect from 31/03/2021 (the effective date), the Fund's investment objective will be changed to include a target benchmark. The Fund will aim to provide capital growth in excess of the MSCI World (Net Total Return) Index (after fees have been deducted) over a three to five year period. This change is being made so that investors can more easily assess the performance of the Fund. The revised investment objective is shown in the Appendix to this letter. From the effective date, the Fund will also use MSCI World Value (Net Total Return) Index and the Investment Association Global sector average return as comparator benchmarks rather than the Investment Association Global Equity Income sector average return. We are making these changes because of the Fund's explicit value management style and as we believe that the Investment Association Global sector average return is a more suitable comparator benchmark for the Fund.  No immediate action required
    March 2021 Schroder Recovery Fund Z Acc GBP Objective Change   With effect from 31/03/2021 (the effective date), the Fund's investment objective will be changed to include a target benchmark. The Fund will aim to provide capital growth in excess of the FTSE All Share (Gross Total Return) Index (after fees have been deducted) over a three to five year period. This change is being made so that investors can more easily assess the performance of the Fund. The revised investment objective is shown in the Appendix to this letter. 
From the effective date, the Fund will also use MSC] UK Value (Gross Total Return) Index as a comparator benchmark alongside the Investment Association UK All Companies sector average return. We are making this change because of the Fund's explicit value investment style. 
No immediate action required
    March 2021 Schroder Global Equity Income Fund Z Inc GBP Objective Change   With effect from 31/03/2021 (the effective date), the Fund will use MSCI World Value (Net Total Return) Index as an additional comparator benchmark alongside the Investment Association Global Equity Income sector average return, due to the Fund's explicit value investment style.  No immediate action required
    March 2021 Eco Animal Health Group Plc Suspension of Dealing - Eco Animal Health Group Plc   We have received a notification from Winterfloods stating that the suspension will now be lifted for the Eco Animal Health Group Plc fund. The fund will be re-opened to buys/sells effective 04.02.2021. No immediate action required
    March 2021 Semper Total Return I GBP Decimal Place Change - GemCap - Semper Total Return I GBP   We have received notification from GemCap that the Semper Total Return I GBP fund will now be expressed as 3 decimal places as opposed to 4 decimal places from 18.02.2021. No immediate action required
    March 2021 RWC Funds Fund Closure - RWC   We have received a notification from RWC informing us that on 19.02.2021 they will be liquidating the European Market Neutral Fund and the Continental European Equity Fund. All holdings on the effective date will be compulsorily redeemed. The Funds will be closed to buys and sells on 12.02.2021 to prepare for the fund closure. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    March 2021 ARC Time Social Long Income funds Suspension of Dealing Update - Time Investments Property Funds   We have received a notification from Time Investments stating that the suspension has now been lifted for the ARC Time Social Long Income funds, with its first dealing day being 19.02.2021. This applies to the ARC Social Long Inc Fder Trust I and ARC Social Long Inc Fder Trust Q funds. No immediate action required
    March 2021 FP Argonaut Absolute Return Fund R Acc Hedged GBP Fund Changes   We are writing to you as an investor in one or more of the Sub-Funds to inform you about some important changes that affect the Company, the Sub-Funds and (to the extent relevant) the RundRock Partners Limited ISA (the “FPL ISA”)
From 5th February Argonaut Capital Partners LLP will remain as investment manager of each of the Sun-Funds and there will be no change to the investment of the Sub-Funds as a result of the developments set out in this letter. 
No immediate action required
    March 2021 BlackRock Frontiers Investment Trust Plc Tender Offer   Dear Shareholder
TENDER OFFER FOR ORDINARY SHARES AND APPROVAL OF THE BUY BACK AUTHORITY APPROVAL OF WAIVER OF OBLIGATIONS TO MAKE A MANADATORY OFFER UNDER RULE 9 OF THE TAKEOVER CODE AND NOTICE OF GENERAL MEETING 1. INTRODUCTION At the time of the Company’s launch in December 2010, the Board stated its intention to offer Shareholders opportunities to realise the value of their investment in the Company at Net Asset Value
less applicable costs at five yearly intervals. The Company’s tenth annual general meeting is due to be held on 2 February 2021. Accordingly, your Board has determined to implement the Tender Offer in accordance with its commitment to Shareholders.
No immediate action required
    March 2021 GAM Settlement Changes - GAM   We have received a corporate action notification from Guinness Asset Management detailing that the redemption settlement period for the below funds will be reduced from 4 to 3 business days as of 01.03.2021. |Guinness Global Energy Y GBP| |Guinness Global Equity Income Z GBP| |Guinness Asian Equity Income Y Acc| |Guinness Asian Equity Income Y Dis| |Guinness Sustainable Energy Z GBP| |Guinness Global Innovators Y Acc| |Guinness Global Equity Income Y Acc| |Guinness Global Equity Income Y Dis| |Guinness European Equity Income Y A| No immediate action required
    March 2021 Ninety One Merger   We have received notification from Ninety One informing us of a Scheme of Arrangement involving the Global Energy & Enhanced Natural resources funds listed below. The effective date of the Scheme of Arrangement is the 05.03.2021. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 26.02.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Ninety One Glbl Enrgy Inst Acc changing to Ninety One GblEnvnt I| |Ninety One Enhanced Nat Res I changing to Ninety One GblEnvnt I| No immediate action required
    March 2021 Goldman Sachs Name Change   We have received notification from Goldman Sachs that the name for the below fund will be changing. |Goldman Sachs Multi Asset Balanced Portfolio R PHg changing to Goldman Sachs ESG-Enhanced Global Multi Asset Balanced R PHg| No immediate action required
    March 2021 Henderson Global Responsible Managed Fund Name Change   We have received notification from Janus Henderson that the name for the above fund will be changing. |Janus Henderson Institutional Global Responsible Managed Fund I Acc changing to Janus Henderson Global Responsible Managed Fund I Acc| No immediate action required
    March 2021 GAM Star Japan Leader Settlement changes   We have received a corporate action notification from Guinness Asset Management detailing that the settlement periods for the below funds will be reduced to 2 business days as of 10.03.2021. |GAM Star Japan Leaders I Acc changing from 3 days to 2 days| |GAM Star Japan Leaders Z Acc changing from 3 days to 2 days| No immediate action required
    March 2021 Quilter Investors Merger   We have received notification from Quilter Investors informing us of a Scheme of Arrangement involving the Fund listed below. The effective date of the Scheme of Arrangement is 12.03.2021. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 05.03.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Quilter Inv Gen CPI+ 3 Pfl R Inc changing to Quilter Inv Monthly Income F Inc| No immediate action required
    March 2021 Janus Henderson FI and UK Small Comp Merger   We have received notification from Janus Henderson informing us of a Scheme of Arrangement involving the Fund listed below. Subject to approval, the effective date of the Scheme of Arrangement is 18.03.2021. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 11.03.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Janus Henderson Preference & Bond Fund I Acc changing to Janus Henderson Fixed Interest Monthly Income Fund I Acc | |Janus Henderson Preference & Bond Fund I Inc changing to Janus Henderson Fixed Interest Monthly Income Fund IQ Inc| |Janus Henderson UK & Irish Smaller Companies Fund I Acc changing to Janus Henderson UK Smaller Companies Fund I Acc| No immediate action required
    March 2021 Schroder Charge   Our aim is simple - to help our clients plan for the future with ideas and investments built to stand the test of time. As part of this commitment, in April 2020 we published our first Assessment of Value Report, where we committed to introducing discounts on our largest Schroders Unit Trust Limited (“SUTL”) funds and by also introducing a simpler, all-in-one fee. We made the first of these changes – the scale discounts – on 1 December 2020 and the all-in-one fee will be implemented from 1 March 2021. Neither of these changes will result in any fee increase, in fact, for some investors, the combined effect of the two changes will result in lower fees. Please read below for more detail about both of the changes and for answers to frequently asked questions No immediate action required
    March 2021 Odey European Focus Absolute Return Fund I Acc Hedged GBP Name Change   As a point of administration please note that with effect from 8 February 2021 (the “Effective Date”)
the following Sub-Funds will be renamed:
Current Name Name from the Effective Date, Odey Allegra Developed Markets Fund Brook Developed Markets Fund, Odey European Focus Fund Brook European Focus Fund, Odey Absolute Return (Irl) Fund Brook Absolute Return (Irl) Fund, Odey European Focus Absolute Return Fund Brook European Focus Absolute Return Fund, LF Odey Absolute Return Fund LF Brook Absolute Return Fund, LF Odey Continental European Fund LF Brook Continental European Fund, Odey Absolute Return Focus Fund Brook Absolute Return Focus Fund, Odey Absolute Return Focus Feeder Fund Brook Absolute Return Focus Feeder Fund, The reason for the Sub-Fund name change is to reflect the investment manager’s, Odey Asset
Management LLP, decision to market certain funds it manages using their trading name Brook Asset Management. 
No immediate action required
    March 2021 Premier Defensive Growth Fund C Inc Charge   It is important you know what costs and charges you could pay when you invest in a Premier Miton fund, either through one of our open-ended investment companies (OEICs) or our unit trust. We explain these costs and charges in this document. We take the fund charges from the value of the fund, which means that the value of your investment, fund prices, performance, dividends or distributions are shown after we have taken all fund charges. Our fund charges include ongoing charges and investment transaction costs. The ongoing charge is a yearly fee and may change each year. The ongoing charges figure (OCF) includes the annual management charge paid to us for managing the investments of the fund, including deciding which underlying investments to buy and sell, as well as other business costs. It also includes charges paid to various other companies and organisations for services and fees involved in operating the fund, including depositary, custodian and auditor fees. For some funds, where external investment research plays a significant part of the active-management process, the ongoing charges figure also includes the estimated cost of this research paid to other financial institutions.  No immediate action required
    March 2021 Fundsmith Equity Fund I Inc Change in Service Provider   The board of directors of the Fun (the "Board") would like to inform you about a certain change to the Fund. .. Effective as from the 1 March 2021… The Board has decided to appoint , in replacement of State Street Bank International GmbH, Luxembourge Branch, Northern Trust Global Services SE, a company exisiting under the laws of Grand Duchy of Luxembourg. No immediate action required
    March 2021 Fidelity Strategic Bond Fund W Inc Charge   We are writing to let you know about some changes we are making to the treatment of charges for the income share classes of five fixed income sub-funds (the “Funds”) one or more of which you are invested. In a record low interest rate environment, we appreciate the dilemmas facing today’s savers and believe it is important to be clear about our income calculations. When the change is taking effect From 1 March 2021 we will be changing how we charge expenses to take these from capital rather than income for the income share classes. There will be no changes made to the accumulation share classes. No immediate action required
    February 2021 Threadneedle Sterling Bond Fund AMC Change   We have received notification from Threadneedle that the AMC for the below funds will be changing. |Threadneedle Sterling Bond Fund Z Gross Accumulation GBP AMC changing from 0.40% to 0.30%| |Threadneedle Sterling Bond Fund Z Income GBP AMC changing from 0.40% to 0.30%| No immediate action required
    February 2021 Premier Miton Gbl Alpha & Gbl Optimum Name Change   We have received notification from Premier Miton that the name for the below fund will be changing. |Premier Global Alpha Growth A Inc changing to Premier Miton Global Sustainable Growth A Inc| |Premier Global Alpha Growth A Acc changing to Premier Miton Global Sustainable Growth A Acc| |Premier Global Alpha Growth C Acc changing to Premier Miton Global Sustainable Growth C Acc| |Premier Global Alpha Growth C Inc changing to Premier Miton Global Sustainable Growth C Inc| |Premier Global Optimum Inc C Inc changing to Premier Miton Global Sustainable Optimum Income C Inc| No immediate action required
    February 2021 Stewart Inv Worldwide Merger   We have received notification from Stewart informing us of a Scheme of Arrangement involving the Fund listed below. |Stewart Inv Worldwide Eqty B Acc changing to Stewart Inv Worldwide Sust B Acc| The effective date of the Scheme of Arrangement is 05.02.2021. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 29.01.2021. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. No immediate action required
    February 2021 Argonaut Funds Name Change   We have received notification from FP Argonaut that the name for the below funds will be changing. |FP Argnt Abl Rtn I Acc GBP changing to VT Argnt Abl Rtn I Acc GBP| |FP Argnt Abl Rtn R Acc changing to VT Argnt Abl Rtn R Acc| |FP Argnt Erpn Alpha R Inc changing to VT Argnt Erpn Alpha R Inc| |FP Argnt Erpn Alpha R Acc changing to VT Argnt Erpn Alpha R Acc| |FP Argnt Erpn Alpha I Hdg Acc changing to VT Argnt Erpn Alpha I Hdg Acc| No immediate action required
    February 2021 Artemis Funds Name Change   We have received notification from Artemis that the name for the below funds will be changing. |Artemis European Growth I changing to Artemis SmartGARP European Equity I| |Artemis Capital I changing to Artemis SmartGARP UK Equity I| |Artemis Global Growth I changing to Artemis SmartGARP Global Equity I| |Artemis Global Emerging Markets I Acc changing to Artemis SmartGARP Global Emerging Markets Equity I Acc| |Artemis Global Emerging Markets I Inc changing to Artemis SmartGARP Global Emerging Markets Equity I Inc| No immediate action required
    February 2021 LF Odey Funds Name Change   We have received notification from Link Fund Solutions that the names of the below funds will be changing on 08.02.2021. |LF Odey Continental European I Acc changing to LF Brook Continental European I Acc| |LF Odey Cont European P Inst Acc changing to LF Brook Cont European P Inst Acc| |LF Odey Absolute Return Inst changing to LF Brook Absolute Return Inst| No immediate action required
    February 2021 M&G AMC Change  

We have received notification from M&G that the AMC for the below funds will be changing. Please follow the link to see the affected funds.

https://www.novia-financial.co.uk/investmentsupdate

No immediate action required
    February 2021 Jupiter UK Smaller Companies Name Change   We have received notification from Jupiter that the name for the below fund will be changing. |Jupiter UK Smaller Companies I Accumulation changing to Jupiter UK Smaller Companies Equity I Accumulation| No immediate action required
    February 2021 Smith & Williamson Name Change   We have received notification from Smith and Williamson that the name for the below funds will be changing. Please see a share class breakdown of the changes below: |Smith & Williamson Short Dated Corporate Bond Fund changing to Sanlam Short Dated Corporate Bond Fund| |Smith & Williamson Enterprise Fund changing to Sanlam Enterprise Fund| |Smith & Williamson Global Inflation Linked Bond Fund changing to Sanlam Global Inflation Linked Bond Fund| |Smith & Williamson Artificial Intelligence Fund changing to Sanlam Artificial Intelligence Fund| No immediate action required
    February 2021 Merian Funds Name Changes  

We have received notification from Merian that the name for the below funds will be changing. Please follow the link to see the affected funds.

https://www.novia-financial.co.uk/investmentsupdate

No immediate action required
    February 2021 MI Downing UK Micro Cap Growth Fund Suspension of Dealing    Off the back of the suspension we have been informed the fund is now closing please can you update the web with the below. We have received a notification from MI Downing informing us that on 19.02.2021 they will be liquidating the MI Downing UK Micro-Cap Growth Fund. All holdings on the effective date will be compulsorily redeemed. The Fund will remain closed to buys and sells as per the previous notification. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    February 2021 Fidelity Name Change   We have received notification from Fidelity that the Name for the below funds will be changing. |Asia Focus Fund changing to the Sustainable Asia Equity Fund| No immediate action required
    February 2021 Janus Henderson - UK Property PAIF Fund UK Property PAIF dealing Suspension Update   We have received a notification from Janus Henderson stating that the suspension will now be lifted on 24.02.2021. This applies to the Janus Henderson UK Property PAIF AI, AA, II and IA funds. No immediate action required
    February 2021 Vanguard Global Funds Fund Closure   We have received a notification from Vanguard informing us that on 25.02.2021 they will be liquidating the Global Minimum Volatility UCITS ETF and the Global Value Factor UCITS ETF. All holdings on the effective date will be compulsorily redeemed. The Funds will be closed to buys and sells on 18.02.2021 to prepare for the fund closure. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    February 2021 Schroder Fund  Fee Change   From 1 December 2020 we began applying a fee discount for our largest funds. We are also simplifying the charges for our funds so they are easier to understand and to provide more clarity around the costs of investing. Currently, the charging structure for each fund includes the annual management charge, plus other fees and expenses such as the Depositary Fee,
Custody Fee, Registrar Fees, Audit Fees and management expenses as disclosed in the Prospectus. We are replacing these with a more transparent, single “all-in-one” fee, known as the Schroders Annual Charge. Discounts are applied from 1 December 2020 and reflected from 1 March 2021.
No immediate action required
    January 2021 Royal London Duration Hedged Name Change - Royal London   We have received notification from Royal London that the name for the below fund will be changing. |Royal London Duration Hedged Credit Z Acc changing to Royal London Diversified Asset-Backed Securities Z Acc| No immediate action required
    January 2021 IFSL Ravenscroft Name Change - IFSL Ravenscroft   We have received notification from Ravenscroft Investment Management that the name for the below fund will be changing. |IFSL Ravenscroft Huntress Balanced A Acc changing to IFSL Ravenscroft Balanced A Acc| No immediate action required
    January 2021 RWC Fund Merger - RWC   ****UPDATE We have received notification today from the Board of Directors of the fund that the planned Merger will not be going ahead. The fund will continue as is and the merger will not go ahead.***** We have received notification from RWC informing us of a Scheme of Arrangement involving the RWC Continental European Equity Fund listed below. The effective date of the Scheme of Arrangement is 18.12.2020. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 11.12.2020. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |RWC Cont European Eq C changing to TM RWC Continental European Equity Fund| No immediate action required
    January 2021 BMO UK Property & Property Growth & Income BMO Fund Suspension - UK Property & Property Growth & Income   We have received a notification from BMO stating that the suspension will now be lifted for the BMO UK Property Feeder 1 Inc, BMO UK Property Feeder 1 Acc, BMO UK Property Feeder 2 Inc & BMO UK Property Feeder 2 Acc. The BMO UK Property Feeder Fund suspension is to be lifted on 14.12.2020. No immediate action required
    January 2021 LF Woodford LF Woodford Distribution Update - Suspension  

Further to the below, we have received the following update in relation to the specified funds: We have now received the Fourth capital distribution payment and this has been processed and applied effective 11.12.2020. We will continue to provide regular updates, when they are received by Link Asset Services, until the completion of the winding up of the Fund.

https://equityincome.linkfundsolutions.co.uk/investor-communications/thursday-20th-august-2020-investor-notification-regarding-the-third-capital-distribution-rates/

No immediate action required
    January 2021 Equity Trustees Name Change - Equity Trustees   We have received notification from Equity Trustees that the Name for the below fund will be changing. |ES Gold & Precious Metals Fund changing to ES Baker Steel Gold & Precious Metals Fund| No immediate action required
    January 2021 City Financial Merger - City Financial   We have received notification from City Financial informing us of a Scheme of Arrangement involving the City Financial Wealth Fund - City Financial Wealth R Acc. The effective date of the Scheme of Arrangement is 08.12.2020. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 01.12.2020. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. No immediate action required
    January 2021 Guinness Asset Management Merger - Guinness Asset Management   We have received notification from Guinness Asset Management informing us of a Scheme of Arrangement involving the Guinness European Equity and Sustainable Energy Funds listed below. The effective date of the Scheme of Arrangement is the 07.12.2020. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 30.11.2020. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Guinness Sustainable Energy XGBP changing to Guinness Sustainable Energy Z GBP Acc| |Guinness European Eq Inc X Acc changing to Guinness European Equity Income Y GBP Acc| No immediate action required
    January 2021 BNY Mellon Funds Fund closure - BNY Mellon Fund Managers Limited   We have received a notification from BNY Mellon Fund Managers Limited informing us that on 03.12.2020 they will be liquidating the Osprey W Institutional fund. |Osprey W Inst Acc| All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to buys and sells on 26.11.2020 to prepare for the fund closure. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    January 2021 Liontrust Fund Merger - Liontrust   We have received notification from Liontrust informing us of a Scheme of Arrangement involving the Liontrust UK Opportunities and UK MID Cap Funds listed below. The effective date of the Scheme of Arrangement is 02.12.2020. Model portfolios will be affected until the merger has completed. Please note, we have closed the fund to buys and sales with immediate effect. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Liontrust UK Opportunities C Acc, Liontrust UK Mid Cap C Acc & Liontrust UK Mid Cap C Inc changing to Liontrust UK Growth I | No immediate action required
    January 2021 Legal & General Change to Swing Pricing - Legal & General   Currently Legal and General use four different methods for calculating fund prices. Instead, from 01.12.2020, they will adopt a ‘single swing pricing’ method across Unit Trust range of funds. Swing pricing is when the same price will be used for both the purchase and sale of shares, with no additional levy added to the share price. No immediate action required
    January 2021 Man GLG Strategic Bond I Net-Dist MO GBP Fund change - data change    The Investment Managers currently use, and will increasingly make use of data sources within their investment processes. From 1 January 2021, these associated costs will be recharged to the portfolios (including the Funds) that directly benefit from those services. As such, the Funds will incur, directly or indirectly, the associated data charges in the course of their operations from 1 January 2021 No immediate action required
    January 2021 Man GLG Strategic Bond I Acc GBP Fund change - data change    'The Investment Managers currently use, and will increasingly make use of data sources within their investment processes. From 1 January 2021, these associated costs will be recharged to the portfolios (including the Funds) that directly benefit from those services. As such, the Funds will incur, directly or indirectly, the associated data charges in the course of their operations from 1 January 2021 No immediate action required
    January 2021 FP Argonaut Absolute Return Fund R Acc Hedged GBP Fund Change    FundRock Partners Limited (“FPL”) are retiring as authorised corporate director of the company (and Sub-Funds) and are to be replaced by Valu-Trac Investment Management Linited.
Argonaut Capital Partners LLP will remain as investment manager of each of the Sub-Funds and there will be no change to the investment management of Sub-Funds as a result of the developments set out in this letter.
It is intended that the changes to the company and Sub -Funds, which we summarise below, will take effect on the 5th February 2020 (the Effective Date) which is to be a non-dealing day.
No immediate action required
    January 2021 **In Liquidation** LF Equity Income Fund C Acc GBP Capital Return   We, Link Fund Solutions Limited (“LFS”) will, in our capacity as the Authorised Corporate Director of the Fund, write to all investors in the Fund on 9 December 2020 to advise them of the amount being paid to them in relation to the fourth capital distribution payment from the winding up of the Fund.
This fourth capital distribution from the winding up of the Fund will be paid to investor’s nominated bank account on or around 11 December 2020. The amount distributed as part of this fourth capital distribution is £98.48 million.
No immediate action required
    January 2021 **In Liquidation** LF Equity Income Fund C Inc GBP Capital Return   We, Link Fund Solutions Limited (“LFS”) will, in our capacity as the Authorised Corporate Director of the Fund, write to all investors in the Fund on 9 December 2020 to advise them of the amount being paid to them in relation to the fourth capital distribution payment from the winding up of the Fund.
This fourth capital distribution from the winding up of the Fund will be paid to investor’s nominated bank account on or around 11 December 2020. The amount distributed as part of this fourth capital distribution is £98.48 million.
No immediate action required
    January 2021 Royal London Short Duration Global High Yield Bond Fund M Inc Annual General Meeting    We are writing to you in your capacity as a shareholder of the Company. The purpose of this circular is to:
a)    Give you notice of the Company’s Annual General Meeting (“AGM”)
b)    Seek your approval of certain ordinary and special business items that will be present at the AGM; and 
c)    To notify you of certain updates being made to the Company.
No immediate action required
    January 2021 EdenTree Amity Short Dated Bond Fund B Inc Name Change    No information No immediate action required
    December 2020 Legal & General Change to Swing Pricing - Legal & General   Currently Legal and General use four different methods for calculating fund prices. Instead, from 01.12.2020, they will adopt a ‘single swing pricing’ method across Unit Trust range of funds. Swing pricing is when the same price will be used for both the purchase and sale of shares, with no additional levy added to the share price. No immediate action required
    December 2020 Liontrust Fund Merger - Liontrust   We have received notification from Liontrust informing us of a Scheme of Arrangement involving the Liontrust UK Opportunities and UK MID Cap Funds listed below. The effective date of the Scheme of Arrangement is 02.12.2020. Model portfolios will be affected until the merger has completed. Please note, we have closed the fund to buys and sales with immediate effect. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Liontrust UK Opportunities C Acc, Liontrust UK Mid Cap C Acc & Liontrust UK Mid Cap C Inc changing to Liontrust UK Growth I | No immediate action required
    December 2020 BNY Mellon Funds Fund closure - BNY Mellon Fund Managers Limited   We have received a notification from BNY Mellon Fund Managers Limited informing us that on 03.12.2020 they will be liquidating the Osprey W Institutional fund. |Osprey W Inst Acc| All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to buys and sells on 26.11.2020 to prepare for the fund closure. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    December 2020 Guinness Asset Management Merger - Guinness Asset Management   We have received notification from Guinness Asset Management informing us of a Scheme of Arrangement involving the Guinness European Equity and Sustainable Energy Funds listed below. The effective date of the Scheme of Arrangement is the 07.12.2020. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 30.11.2020. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Guinness Sustainable Energy XGBP changing to Guinness Sustainable Energy Z GBP Acc| |Guinness European Eq Inc X Acc changing to Guinness European Equity Income Y GBP Acc| No immediate action required
    December 2020 City Financial Merger - City Financial   We have received notification from City Financial informing us of a Scheme of Arrangement involving the City Financial Wealth Fund - City Financial Wealth R Acc. The effective date of the Scheme of Arrangement is 08.12.2020. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 01.12.2020. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. No immediate action required
    December 2020 Equity Trustees Name Change - Equity Trustees   We have received notification from Equity Trustees that the Name for the below fund will be changing. |ES Gold & Precious Metals Fund changing to ES Baker Steel Gold & Precious Metals Fund No immediate action required
    December 2020 BMO UK Property & Property Growth & Income BMO Fund Suspension - UK Property & Property Growth & Income   We have received a notification from BMO stating that the suspension will now be lifted for the BMO UK Property Feeder 1 Inc, BMO UK Property Feeder 1 Acc, BMO UK Property Feeder 2 Inc & BMO UK Property Feeder 2 Acc. The BMO UK Property Feeder Fund suspension is to be lifted on 14.12.2020. No immediate action required
    December 2020 RWC Fund Merger - RWC   We have received notification from RWC informing us of a Scheme of Arrangement involving the RWC Continental European Equity Fund listed below. The effective date of the Scheme of Arrangement is 18.12.2020. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 11.12.2020. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |RWC Cont European Eq C changing to TM RWC Continental European Equity Fund No immediate action required
    December 2020 Royal London Duration Hedged Name Change - Royal London   We have received notification from Royal London that the name for the below fund will be changing. |Royal London Duration Hedged Credit Z Acc changing to Royal London Diversified Asset-Backed Securities Z Acc No immediate action required
    December 2020 Legal & General Global 100 Index Trust I Acc Change to Swing Pricing - Legal & General  

Changes to your Legal & General Unit Trust funds: Currently, we use four different methods for calculating fund prices. Instead, we will adopt a ‘single swing pricing’ method across most of our Unit Trust range of funds. The change to the pricing method will be implemented on [1 December] 2020.

No immediate action required
    December 2020 Legal & General Global Emerging Markets Index Fund I Acc Change to Swing Pricing - Legal & General  

Changes to your Legal & General Unit Trust funds:  Currently, we use four different methods for calculating fund prices. Instead, we will adopt a ‘single swing pricing’ method across most of our Unit Trust range of funds. The change to the pricing method will be implemented on [1 December] 2020.

No immediate action required
    December 2020 Premier Multi-Asset Monthly Income Fund C Inc Name Change   No documents available  No immediate action required
    December 2020 LF Miton Defensive Multi Asset Fund B Acc Fund Change   We are writing to you as a shareholder in one or more of the sub-funds of the Company to advise that the authorised corporate director of the Company (the “ACD”) is to change from Link Fund Solutions Limited (“Link”) to Premier Portfolio Managers Limited (“Premier Miton”). This means that, subject to the legal transfer being completed, the Company will be operated by Premier Miton with effect from 27 November 2020 (the “Effective Date”).
On 15 November 2019, Miton Group plc, the ultimate holding company of Miton Asset Management Limited, and Premier Asset Management Group PLC announced the completion of an all-share merger and subsequent renaming of the company as Premier Miton Group plc.
As a result of the merger Link has, therefore, agreed to retire as the ACD and transfer the operation of the Company to Premier Miton.
No immediate action required
    December 2020 Premier Defensive Growth Fund C Inc Fund Changes    No documents available  No immediate action required
    December 2020 Premier Multi-Asset Growth & Income Fund C Acc Fund Changes    No documents available  No immediate action required
    December 2020 Premier Defensive Growth Fund C Inc Fund Changes    No documents available  No immediate action required
    December 2020 Merian UK Smaller Companies Focus Fund R Inc GBP Fee change    The purpose of this letter is to inform you of an error that has been identified in the description of the performance fee of the Fund. For the avoidance of doubt, please note that this had no bearing on the portfolio management of the Fund. No immediate action required
    December 2020 Winton Diversified Fund (UCITS) I Dist Hedged GBP Fund Changes    Further to the letter sent to you on 9 November 2020, we are writing to you as a Shareholder in the relevant Fund to
inform you of an additional amendment to the Prospectus of the ICAV dated 1May 2020 (the “Prospectus” and
Supplement of the Fund.
No immediate action required
    December 2020 M&G Recovery Fund I Acc GBP Fund Change    No documents available  No immediate action required
    December 2020 M&G Optimal Income Fund I Inc GBP Fund Change    No documents available  No immediate action required
    December 2020 Franklin UK Rising Dividends Fund W Inc Change in policy   On 23 November 2020 (the “Effective Date”), we will be making a change to the investment policy of the Fund which will be reflected in the Fund’s prospectus and other legal documents. The change is intended to give us more flexibility in how we manage the Fund in unusual market conditions – such as those stemming from the COVID-19 pandemic – and to better reflect the typical portfolio of the Fund. At the moment, the investment policy of the Fund states that “[the] Fund usually invests in 30-50 companies that have grown their dividend in at least 8 of the past 10 years and not reduced the dividend during that period. Typically, most of these investments will be in the shares of large or medium sized companies (such as those making up the FTSE 350 Index).” No immediate action required
    December 2020 Standard Life Inv UK Real Estate Fund Platform 1 Acc Suspension lifted    We wrote to you on 18 March 2020 to inform you that dealing in the Funds was being suspended. Following consultation with the Funds’ Depositary, we now intend to lift the suspension and resume dealing on 16 November 2020. The Financial Conduct Authority has been notified.
Our decision to suspend dealing was taken in the best interests of all investors. For the last few months, markets around the world have experienced huge disruption because of COVID-19 (Coronavirus). In March of this year, the Funds’ Standing Independent Valuers told us it was not possible to provide accurate and reliable valuations for certain property assets held in the Funds. We were, therefore, unable to produce a price for the Funds which reflected the assets’ true market value.
The Funds’ Standing Independent Valuers removed the material valuation uncertainty clauses from all properties held by the Funds at the end of September.
The investment team have been building up the Funds’ cash positions throughout the suspension period, and further property sales are being pursued in order to maintain this once the suspension is lifted.
The property market remains challenging, given the uncertain impact on the economy of COVID-19, particularly regarding the ability to buy and sell property assets as well as other factors such as investor sentiment and market liquidity. However, we have now decided that the suspension should be lifted and allow dealing to resume on 16 November 2020.
No immediate action required
    December 2020 Morgan Stanley Asia Opportunity Fund ZH Acc Hedged GBP Change of Global Distributor    The board has decided to retain the marketing and distribution functions at the level of the management company. Therefore the ManCo will replace MSIM Ireland as global distributor of the Company. No immediate action required
    December 2020 Fidelity Open World Fund W Acc Change in policy    We’re writing to let you know about some changes we’re making to some Fidelity funds, one or more of which you’ve invested in.
The changes we’re making We’re amending the investment policy for some Fidelity funds. This is being done to provide greater clarity to investors by highlighting the range of asset classes that these funds have the flexibility to invest in, including equities and bonds, as well as other alternative assets and commodities.
You can see the list of funds and revised investment policy, which will come into effect on 12 November 2020, in the Appendix. The revised Key Investor Information Documents will be available at fidelity.co.uk from that date, or you can contact us for a printed copy. There’s no change to how the funds are managed or the risks associated with investing in the funds. Investors won’t have to pay any of the costs associated with these changes.
Options for you to consider
You don’t need to take any action as a result of this change. However, you or your adviser have the option to take your money out of the fund or move it to another fund at fidelity.co.uk We don’t charge for this but there may be costs involved in switching to a new fund. Another point to bear in mind is that it takes at least two working days to switch money from one investment to another. During this time you may miss out on market growth, though switching could work in your favour if markets fall. If you live outside the UK, there will be restrictions on switching. Please be sure to read the key information document for any fund you consider investing in
No immediate action required
    December 2020 Aberdeen UK Property Fund I Inc Suspension lifted    We wrote to you on 18 March 2020 to inform you that dealing in the Funds was being suspended. Following consultation with the Funds’ Depositary, we now intend to lift the suspension and resume dealing on 16 November 2020. The Financial Conduct Authority has been notified.
Our decision to suspend dealing was taken in the best interests of all investors. For the last few months, markets around the world have experienced huge disruption because of COVID-19 (Coronavirus). In March of this year, the Funds’ Standing Independent Valuers told us it was not possible to provide accurate and reliable valuations for certain property assets held in the Funds. We were, therefore, unable to produce a price for the Funds which reflected the assets’ true market value.
The Funds’ Standing Independent Valuers removed the material valuation uncertainty clauses from all properties held by the Funds at the end of September.
The investment team have been building up the Funds’ cash positions throughout the suspension period, and further property sales are being pursued in order to maintain this once the suspension is lifted.
The property market remains challenging, given the uncertain impact on the economy of COVID-19, particularly regarding the ability to buy and sell property assets as well as other factors such as investor sentiment and market liquidity. However, we have now decided that the suspension should be lifted and allow dealing to resume on 16 November 2020.
No immediate action required
    November 2020 Seven Investment Management - Sustainable Balance AMC Change - Seven Investment Management   We have received notification from Seven Investment Management that the AMC for the below fund will be changing. |7IM Sustainable Balance C Acc changing from 1.25% to 1.00%| |7IM Sustainable Balance C Inc changing from 1.25% to 1.00% No immediate action required
    November 2020 UBS FTSE AMC Change   We have received notification from UBS that the AMC for the below fund will be changing. |UBS FTSE RAFIDevlpd1000Idx C Acc changing from 0.30% to 0.25% No immediate action required
    November 2020 Architas Funds Fund Name Changes - Architas   We have received a notification from Architas informing us that the name of the below funds are changing as of 01.11.2020. |Architas MA Blended Reserve A Inc changing to Liontrust MA Blended Reserve A Inc | Architas MA Passive Reserve A Acc changing to Liontrust MA Passive Reserve A Acc | Architas MA Passive Resrve S Acc changing to Liontrust MA Passive Resrve S Acc | Architas MA Passive Modrte S Acc changing to Liontrust MA Passive Modrte S Acc | Architas MA Pasv Intm S Acc changing to Liontrust MA Pasv Intm S Acc | Architas MA Pasv Prog S Acc changing to Liontrust MA Pasv Prog S Acc | Architas MA Passive Growth S Acc changing to Liontrust MA Passive Growth S Acc | Architas MA Passive Dynmic S Acc changing to Liontrust MA Passive Dynmic S Acc | Architas MA Passive Prudnt S Acc changing to Liontrust MA Passive Prudnt S Acc | Architas MA Blended Modrte S Inc changing to Liontrust MA Blended Modrte S Inc | Architas MA Blended Modrte S Acc changing to Liontrust MA Blended Modrte S Acc | Architas MA Bld Res S Acc changing to Liontrust MA Bld Res S Acc | Architas MA Blended Growth S Acc changing to Liontrust MA Blended Growth S Acc | Architas MA Blended Prog S Acc changing to Liontrust MA Blended Prog S Acc | Architas MA Blended Interm S Acc changing to Liontrust MA Blended Interm S Acc | Architas MA Blended Interm S Inc changing to Liontrust MA Blended Interm S Inc | Architas MM Strategic Bd S Acc changing to Liontrust MA Strategic Bd S Acc | Architas MM Mthly Hi Inc S Inc changing to Liontrust MA Mthly Hi Inc S Inc | Architas MA Active Dynamic S Acc changing to Liontrust MA Active Dynamic S Acc | Architas MA Active Growth S Acc changing to Liontrust MA Active Growth S Acc | Architas MA Active Growth S Inc changing to Liontrust MA Active Growth S Inc | Architas MA Active Prog S Acc changing to Liontrust MA Active Prog S Acc | Architas MA Active Prog S Inc changing to Liontrust MA Active Prog S Inc | Architas MA Act Interm Inc S Acc changing to Liontrust MA Act Interm Inc S Acc | Architas MA Act Interm Inc S Inc changing to Liontrust MA Act Interm Inc S Inc | Architas MA Actv Mdrt Inc S Acc changing to Liontrust MA Actv Mdrt Inc S Acc | Architas MA Act Res S Inc changing to Liontrust MA Act Res S Inc | Architas MA Act Res S Acc changing to Liontrust MA Act Res S Acc | Architas Divfd Real Assets A Acc changing to Liontrust MA Divfd Real Assets A Acc | Architas Divfd Real Assets A Inc changing to Liontrust MA Divfd Real Assets A Inc | Architas Birthstar TD 2015 20 R Acc changing to Liontrust MA Birthstar TD 2015 20 R Acc | Architas Birthstar TD 2036 40 R Acc changing to Liontrust MA Birthstar TD 2036 40 R Acc | Architas Divfd Gbl Inc S Acc changing to Liontrust MA Divfd Gbl Inc S Acc | Architas MA Passive Modrte S Inc changing to Liontrust MA Passive Modrte S Inc | Architas MA Blended Reserve A Inc changing to Liontrust MA Blended Reserve A Inc | Architas MA Passive Reserve A Acc changing to Liontrust MA Passive Reserve A Acc | Architas MA Passive Resrve S Acc changing to Liontrust MA Passive Resrve S Acc | Architas MA Passive Modrte S Acc changing to Liontrust MA Passive Modrte S Acc | Architas MA Pasv Intm S Acc changing to Liontrust MA Pasv Intm S Acc | Architas MA Pasv Prog S Acc changing to Liontrust MA Pasv Prog S Acc | Architas MA Passive Growth S Acc changing to Liontrust MA Passive Growth S Acc | Architas MA Passive Dynmic S Acc changing to Liontrust MA Passive Dynmic S Acc | Architas MA Passive Prudnt S Acc changing to Liontrust MA Passive Prudnt S Acc | Architas MA Blended Modrte S Inc changing to Liontrust MA Blended Modrte S Inc | Architas MA Blended Modrte S Acc changing to Liontrust MA Blended Modrte S Acc | Architas MA Bld Res S Acc changing to Liontrust MA Bld Res S Acc | Architas MA Blended Growth S Acc changing to Liontrust MA Blended Growth S Acc | Architas MA Blended Prog S Acc changing to Liontrust MA Blended Prog S Acc | Architas MA Blended Interm S Acc changing to Liontrust MA Blended Interm S Acc | Architas MA Blended Interm S Inc changing to Liontrust MA Blended Interm S Inc | Architas MM Strategic Bd S Acc changing to Liontrust MA Strategic Bd S Acc | Architas MM Mthly Hi Inc S Inc changing to Liontrust MA Mthly Hi Inc S Inc | Architas MA Active Dynamic S Acc changing to Liontrust MA Active Dynamic S Acc | Architas MA Active Growth S Acc changing to Liontrust MA Active Growth S Acc | Architas MA Active Growth S Inc changing to Liontrust MA Active Growth S Inc | Architas MA Active Prog S Acc changing to Liontrust MA Active Prog S Acc | Architas MA Active Prog S Inc changing to Liontrust MA Active Prog S Inc | Architas MA Act Interm Inc S Acc changing to Liontrust MA Act Interm Inc S Acc | Architas MA Act Interm Inc S Inc changing to Liontrust MA Act Interm Inc S Inc | Architas MA Actv Mdrt Inc S Acc changing to Liontrust MA Actv Mdrt Inc S Acc | Architas MA Act Res S Inc changing to Liontrust MA Act Res S Inc | Architas MA Act Res S Acc changing to Liontrust MA Act Res S Acc | Architas Divfd Real Assets A Acc changing to Liontrust MA Divfd Real Assets A Acc | Architas Divfd Real Assets A Inc changing to Liontrust MA Divfd Real Assets A Inc No immediate action required
    November 2020 LF Heartwood Fund Name Changes - LF Heartwood to LF Handelsbanken   We have received a notification from LF Heartwood (Soon to be renamed LF Handelsbanken) informing us that the names of the below funds are changing as of 09.11.2020. |LF Heartwood Multi Asset Funds changing to LF Handelsbanken Multi Asset Funds | LF Heartwood Defensive Multi Asset Fund changing to LF Handelsbanken Defensive Multi Asset Fund | LF Heartwood Cautious Multi Asset Fund changing to LF Handelsbanken Cautious Multi Asset Fund | LF Heartwood Balanced Multi Asset Fund changing to LF Handelsbanken Balanced Multi Asset Fund | LF Heartwood Growth Multi Asset Fund changing to LF Handelsbanken Growth Multi Asset Fund | LF Heartwood Adventurous Fund changing to LF Handelsbanken Adventurous Fund | LF Heartwood Income Multi Asset Fund changing to LF Handelsbanken Income Multi Asset Fund | LF Heartwood Income Plus Multi Asset Fund changing to LF Handelsbanken Income Plus Multi Asset Fund | LF Heartwood Defensive Sustainable Multi Asset Fund changing to LF Handelsbanken Defensive Sustainable Multi Asset Fund | LF Heartwood Cautious Sustainable Multi Asset Fund changing to LF Handelsbanken Cautious Sustainable Multi Asset Fund | LF Heartwood Balanced Sustainable Multi Asset Fund changing to LF Handelsbanken Balanced Sustainable Multi Asset Fund | LF Heartwood Growth Sustainable Multi Asset Fund changing to LF Handelsbanken Growth Sustainable Multi Asset Fund No immediate action required
    November 2020 Aberdeen Standard Investments life, ASI Life UK Property and Aberdeen UK Property Fund Suspension of Dealing - Aberdeen Standard Investments life, ASI Life UK Property and Aberdeen UK Property Fund   We have received a notification from Aberdeen Standard stating that the Aberdeen Standard Investments life, ASI Life UK Property and Aberdeen UK Property Fund suspension will be lifted on 16.11.2020. No immediate action required
    November 2020 Wells Fargo Funds Fund Closure - Wells Fargo   We have received a notification from Wells Fargo informing us that on 17.11.2020 they will be liquidating the Wells Fargo (Lux) Worldwide Fund. |Wells FargoWW USSmCpVl Z Hg| |Wells FargoWW USSmCpVl I| All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to buys and sells on 10.11.2020 to prepare for the fund closure. Any model portfolios that contain the Fund will become invalid and need to be updated. No immediate action required
    November 2020 Premier Miton Investors AMC change   We have received a notification from Premier Miton informing us that the name of the below funds are changing name as of 27.11.2020. |Premier Income C Inc changing to Premier Miton Income C Inc | Premier Monthly Income C Inc changing to Premier Miton Monthly Income C Inc | Premier Ethical C Inc changing to Premier Miton Ethical C Inc | Premier UK Growth C Inc changing to Premier Miton UK Growth C Inc | Premier MA Cons Growth C Acc changing to Premier Miton MA Cons Growth C Acc | Premier Optimum Income C Inc changing to Premier Miton Optimum Income C Inc | Premier Liberation V C Inc changing to Premier Miton Liberation V C Inc | Premier Multi Asset Dist C Inc changing to Premier Miton Multi Asset Dist C Inc | Premier MA Global Gth B Inc changing to Premier Miton MA Global Gth B Inc | Premier Liberation IV C Inc changing to Premier Miton Liberation IV C Inc | Premier Liberation IV C Acc changing to Premier Miton Liberation IV C Acc | Premier Multi-Asset Absol Ret C Inc changing to Premier Miton Multi-Asset Absol Ret C Inc | Premier Multi-Asset Absol Ret C Acc changing to Premier Miton Multi-Asset Absol Ret C Acc | Premier Pan European Property C Inc changing to Premier Miton Pan European Property C Inc | Premier Pan European Property C Acc changing to Premier Miton Pan European Property C Acc | Premier Liberation VI C Acc changing to Premier Miton Liberation VI C Acc | Premier Liberation V C Acc changing to Premier Miton Liberation V C Acc | Premier MA Gwth Inc C Inc changing to Premier Miton MA Gwth Inc C Inc | Premier Mlt Ast Monthly Inc C Inc changing to Premier Miton Mlt Ast Monthly Inc C Inc | Prem MA Global Gth C Inc changing to Premier Miton MA Global Gth C Inc | Premier Defensive Growth C Inc changing to Premier Miton Defensive Growth C Inc | Premier Diversified Growth D Inc changing to Premier Miton Diversified Growth D Inc | Premier UK Money Market B Inc changing to Premier Miton UK Money Market B Inc | Premier Divfd Dynamic Gth C Inc changing to Premier Miton Divfd Dynamic Gth C Inc | Premier Defensive Growth C Acc changing to Premier Miton Defensive Growth C Acc | Premier Ethical C Acc changing to Premier Miton Ethical C Acc | Premier Income C Acc changing to Premier Miton Income C Acc | Premier Monthly Income C Acc changing to Premier Miton Monthly Income C Acc | Premier Multi Asset Dist C Acc changing to Premier Miton Multi Asset Dist C Acc | Premier MA Growth Inc C Acc changing to Premier Miton MA Growth Inc C Acc | Premier MA Monthly Inc C Acc changing to Premier Miton MA Monthly Inc C Acc | Premier UK Money Market B Acc changing to Premier Miton UK Money Market B Acc | Premier MA Global Growth C Acc changing to Premier Miton MA Global Growth C Acc | Premier Diversified Income D Inc changing to Premier Miton Diversified Income D Inc | No immediate action required
    November 2020 Aviva Multi Asset Fund Name Changes - Aviva Multi Asset   We have received a notification from Aviva Investors informing us that the name of the below funds are changing as of 30.11.2020. |Aviva Inv Mlti Ast I Class 2 Acc changing to Aviva Inv Mlti Ast Plus I Class 2 Acc| |Aviva Inv Mlti As II Class 2 Acc changing to Aviva Inv Mlti As II Plus Class 2 Acc| |Aviva Inv Mlti Ast III 2 Acc changing to Aviva Inv Mlti Ast Plus III 2 Acc| |Aviva Inv Mlti As IV Class 2 Acc changing to Aviva Inv Mlti As Plus IV Class 2 Acc| |Aviva Inv Mlti Ast V Class 2 Acc changing to Aviva Inv Mlti Ast Plus V Class 2 Acc| No immediate action required
    November 2020 Invesco European Funds Fund Name Changes - Invesco   We have received a notification from Invesco informing us that the name of the below funds are changing as of 30.11.2020. |Invesco European Opps Z Acc changing to Invesco European Focus Z Acc| |Invesco European Opps Z Inc changing to Invesco European Focus Z Inc| No immediate action required
    November 2020 MI Downing Fund Name Changes - MI Downing to VT Downing   We have received a notification from MI Downing (Soon to be renamed VT Downing) informing us that the name of the below funds are changing as of 30.11.2020. |MI Downing UK MC Growth B Acc changing to VT Downing UK MC Growth B Acc| |MI DowningMthlyInc Acc changing to VT DowningMthlyInc Acc| No immediate action requiredNo immediate action required
    November 2020 Premier Miton Multi Asset Monthly Income Fund C Inc Name Change   No info No immediate action required
    November 2020 Premier Defensive Growth Fund C Inc Name Change   No info No immediate action required
    November 2020 Legal & General Global 100 Index Trust I Acc Fund Changes    Changes to your Legal & General Unit Trust funds
We need to make you aware of some important changes to the way we price your fund(s)
(set out in the attached guide). You don’t need to take any action in response to this letter,
but the information below may be useful.
What is the change?
Currently, we use four different methods for calculating fund prices. Instead, we will adopt a ‘single swing
pricing’ method across most of our Unit Trust range of funds. The change to the pricing method will be
implemented on [1 December] 2020.
No immediate action required
    November 2020 LF Miton Cautious Multi Asset Fund B Acc Fund Changes    Important changes to LF Miton Investment Funds (the “Company”), an umbrella open-ended investment
company.
We are writing to you as a shareholder in one or more of the sub-funds of the Company to advise that the
authorised corporate director of the Company (the “ACD”) is to change from Link Fund Solutions Limited (“Link”)
to Premier Portfolio Managers Limited (“Premier Miton”). This means that, subject to the legal transfer being
completed, the Company will be operated by Premier Miton with effect from 27 November 2020 (the “Effective
Date”).
On 15 November 2019, Miton Group plc, the ultimate holding company of Miton Asset Management Limited, and
Premier Asset Management Group PLC announced the completion of an all-share merger and subsequent
renaming of the company as Premier Miton Group plc.
As a result of the merger Link has, therefore, agreed to retire as the ACD and transfer the operation of the
Company to Premier Miton.
No immediate action required
    November 2020 Franklin UK Rising Dividends Fund W Inc Change to policy   Important changes for investors in Franklin UK Rising Dividends Fund
As an investor in Franklin UK Rising Dividends Fund (the “Fund”), a sub-fund of Franklin Templeton Funds, we are writing to notify
you of some planned changes to the Fund. These changes do not affect the way in which the Fund is managed, the strategy of the
Fund, or the risk profile of the Fund, but we recommend that you read through this letter and, if you have any questions, speak to
your financial adviser or contact our Client Dealer Services team using the contact details at the end of this letter.
On 23 November 2020 (the “Effective Date”), we will be making a change to the investment policy of the Fund which will be
reflected in the Fund’s prospectus and other legal documents. The change is intended to give us more flexibility in how we manage
the Fund in unusual market conditions – such as those stemming from the COVID-19 pandemic – and to better reflect the typical
portfolio of the Fund. At the moment, the investment policy of the Fund states that “[the] Fund usually invests in 30-50 companies
that have grown their dividend in at least 8 of the past 10 years and not reduced the dividend during that period. Typically, most of
these investments will be in the shares of large or medium sized companies (such as those making up the FTSE 350 Index).”
We are proposing to remove the reference to companies which have not reduced the dividend during the past 10 years (language
shown in bold and underline in the paragraph above).
No immediate action required
    October 2020 Baillie Gifford Global Income Growth AMC Change   "We have received notification from Baillie Gifford that the AMC for the below funds will be changing. |Baillie Giff Global Inc Growth B Acc changing from 0.57% to 0.50%| |Baillie Giff Global Inc Growth B Inc changing from 0.57% to 0.50%|" No immediate action required
    October 2020 HSBC Fund range AMC Change   "We have received notification from HSBC that the AMC for the below fund will be changing from 01.10.2020: |HSBC Gbl Property A Inst Acc changing from 0.40% to 0.38%| |HSBC Global Property C Inc changing from 0.55% to 0.60%| |HSBC Corporate Bond C Inc changing from 0.30% to 0.35%| |HSBC Gilt & Fixed Interest C Inc changing from 0.30% to 0.35%| |HSBC Monthly Income C Acc changing from 0.55% to 0.60%| |HSBC Global Property C Acc changing from 0.55% to 0.60%| |HSBC Corporate Bond C Acc changing from 0.30% to 0.35%| |HSBC Gilt Fixed Interest C Acc changing from 0.30% to 0.35%| |HSBC Monthly Income C Inc changing from 0.55% to 0.60%| |HSBC Balanced C Acc changing from 0.55% to 0.60%|" No immediate action required
    October 2020 Invesco High Income Fund Distribution change   "We have received notification from Invesco Fund Managers Limited that the frequency of distribution payments for the below High Income funds. |Current distribution payments Dates period: 28th February & 31st August. Future distribution Payment dates: 28th February, 31st May, 31st August & 30th November| This applies to the following funds: |Invesco High Inc Acc| Invesco High Inc Inc| Invesco High Income NT Acc| Invesco High Income NT Inc| Invesco High Income Z Acc| Invesco High Income Z Inc|" No immediate action required
    October 2020 Aviva Investors Fund OCF Change   "We have received notification from Aviva Investors that the OCF Charge for the below fund will be changing on 01.10.2020. |Aviva Investors Multi-Strategy Target Income 2 Fund changing from 0.85% to 0.80%" No immediate action required
    October 2020 Threadneedle (L)Pan European Equities Fund Name Changes   "We have received a notification from Threadneedle (Lux) informing us that the name of the below fund is changing on 02.10.2020. |Threadneedle (L)Pan European Equities changing to Threadneedle (L)Pan European ESG Equities|" No immediate action required
    October 2020 GemCap - AHFM Defined Returns Fund Name Changes   "We have received a notification from GemCap informing us that the name of the below funds are changing on 05.10.2020. |AHFM Defined Returns I changing to Atlantic House Defined Returns I| |AHFM Defined Returns B changing to Atlantic House Defined Returns B|" No immediate action required
    October 2020 Ninety One UK Equity Income Fund Soft Closure   "We have received a notification from Ninety One that they have decided to soft close the Ninety One UK Equity Income Fund: L share class. |Ninety One UK Eq Inc L Net Acc| Unfortunately we did not receive notification of this until very late on, the fund will therefore be closed to buys effective immediately. Please note this will impact model portfolios." No immediate action required
    October 2020 TM Tellworth Fund AMC change   "We have received notification from Thesis that the AMC for the below fund will be changing. |TM Tellworth UK Select A Acc - AMC changing from 1.25% to 0.75%|" No immediate action required
    October 2020 Marlborough - MFM Techinvest Special Situations Fund Scheme of Arrangement    "We have received notification from Marlborough informing us of a Scheme of Arrangement involving the MFM Techinvest Special Situations Fund. The effective date of the Scheme of Arrangement is 07.10.2020. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 30.09.2020. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |MFM Techinvest Spcl Stutns P Acc changing to Marlborough Nano-Cap Growth P|" No immediate action required
    October 2020 Sarasin Funds Merger   "We have received notification from Sarasin informing us of a Scheme of Arrangement involving the Sarasin Funds listed below. The effective date of the Scheme of Arrangement is 09.10.2020 for the Sarasin Responsible Global Equity. The effective date for the second part of the Scheme of Arrangement is 23.10.2020 for the Sarasin Global Higher Dividend & Sarasin Thematic Global Equity. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on the 2nd & 16th of October 2020 respectively. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |Sarasin Rspbl Gbl Eq Hg P Acc changing to Sarasin Responsible Global Equity P Acc| |Sarasin Thmtc Gbl Eq Hg P Acc changing to Sarasin Thematic Global Equity P Acc| |Sarasin Gbl High Div Hgd P Inc changing to Sarasin Global Higher Dividend P Inc|" No immediate action required
    October 2020 L&G UK Property Funds Suspension of Dealing Update   "We have received a notification from Legal & General stating that the L&G UK Property Feeder I Inc/Acc funds suspension will be lifted on 13.10.2020." No immediate action required
    October 2020 ASI UK Recovery Equity Fund Fund Closure   "We have received a notification from Aberdeen Standard informing us that on 22.10.2020 they will be liquidating the ASI UK Recovery Equity Funds. All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to buys and sells from 15.10.2020 to prepare for the fund closure. Any model portfolios that contain the Fund will become invalid and need to be updated." No immediate action required
    October 2020 Aberdeen Standard Fund Closure   "We have received a notification from Aberdeen Standard informing us that on 26.10.2020 they will be liquidating the ASI Global High Yield Bond Fund. All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to buys and sells on 12.10.2020 to prepare for the fund closure. Any model portfolios that contain the Fund will become invalid and need to be updated" No immediate action required
    October 2020 Jupiter International Financials Fund Fund Name Changes   "We have received a notification from Jupiter informing us that the name of the below fund are changing name as of 31.10.2020. | Jupiter International Financials I Acc changing to Jupiter Global Financial Innovation Acc|" No immediate action required
    October 2020 Threadneedle UK Equity Income Z Inc AMC reg fee reductions   "There has been a reduction in AMC to all shareclasses of Threadneedle UK Equity Income" No immediate action required
    October 2020 **In Liquidation** LF Equity Income Fund C Inc Third Capital payment to investors    "LF Equity Income Fund (formerly named LF Woodford Equity Income Fund) (the “Fund”), a sub-fund of LF Investment Fund (formerly named LF Woodford Investment Fund) (the “Company”)
We, Link Fund Solutions Limited, are writing to inform you that we are now in a position to make a third capital distribution from the winding up of the Fund and to provide an update on the publication of the Fund’s annual accounts."
No immediate action required
    October 2020 Kames Fund range Name Change   '"Approval of the Name Change of the Company and Corresponding Amendments to the M&A of the Company. We are writing to you in your capacity as a Shareholder of the Company. The purpose of this circular is to give you notice of a proposal to change the name of the Company and to amend the Company’s memorandum and articles of association (“M&A”). Approval for these changes will be sought at an extraordinary general meeting (“EGM”) to be held on 16 July 2020 at 11.00 am (Irish time). You will find set out in Appendix I hereto the notice convening the EGM (“Notice”).  "Change of name - Kames Capital fund range As part of the rebrand of Kames Capital, subject to regulatory approval, the name of the following funds will change from 7 September 2020 Approved name Change " change of name to Kames Capital which, subject to regulatory approval, will take effect from 7 September 2020." No immediate action required
    October 2020 First State Fund range  Name Change   "writing to all impacted shareholders of UK OEIC… First State Investments is rebranding to First Sentier Investors in September 2020" No immediate action required
    October 2020 **Closed** VT Garraway Absolute Equity Fund I Acc Capital Distribution   Third liquidation distribution paid on the 9th September 2020 No immediate action required
    October 2020 Stewart Investors Asia Pacific Leaders Fund B Acc GBP Name Change   "writing to all impacted shareholders of UK OEIC… First State Investments is rebranding to First Sentier Investors in September 2020" No immediate action required
    October 2020 Aviva Investors Multi-Strategy Target Income Fund 2 Inc GBP FMF Changes    "I am writing to advise you of reductions to the Fund Management Fee (FMF) for the Aviva Investors Multi-Strategy Target Income onshore fund… no fomal letters have been issued. Changes will apply as of 1st October" No immediate action required
    October 2020 Legal & General Fund range Price Change   "Currently, we use four different methods for calculating fund prices. Instead, we will adopt a ‘single swing pricing’ method across most of our Unit Trust range of funds. The change to the pricing method will be implemented on [1 December] 2020." No immediate action required
    October 2020 **Suspended** Legal & General UK Property Feeder Fund I Inc Suspension of Dealing Update   "In accordance with the FCA’s regulatory requirements, the suspension is being formally reviewed by the Fund Manager’s Board every 28 days. The Board has reviewed and confirmed the suspension should remain in place with effect from 2 September 2020. " No immediate action required
    October 2020 JPM US Select Fund C Net Acc Dilution Adjustment   Please be informed that, with effect from 23 September 2020, the dilution adjustment threshold has
been changed from 0.5% to 1%.
No immediate action required
    September 2020 SVS Church House Tenax Absolute Return Strategies Fund GBP C Acc Change to the Investment Objective   "We propose to amend the investment objective and policy of the fund to bring it in line with current FCA expectations and make it clearer and more meaningful to shareholders" No immediate action required
    September 2020 Kames Short Dated High Yield Global Bond Fund GBP B Inc Hedged Name change   "Approval of the Name Change of the Company and Corresponding Amendments to the M&A of
the Company. We are writing to you in your capacity as a Shareholder of the Company. The purpose of this circular is to give you notice of a proposal to change the name of the Company and to amend the Company’s memorandum and articles of association (“M&A”). Approval for these changes will be sought at an extraordinary general meeting (“EGM”) to be held on 16 July 2020 at 11.00 am (Irish time). You will find set out in Appendix I hereto the notice convening the EGM (“Notice”)."
No immediate action required
    September 2020 Threadneedle UK Equity Income Z Inc AMC reduction   There has been a reduction in AMC to all shareclasses of Threadneedle UK Equity Income No immediate action required
    September 2020 Ninety One Cautious Managed Fund I Acc Changes to the investment objective and policy   "Changes to the investment objective and policy
We are making amendments to the investment objective (the statement that sets out what we aim to achieve with your investment) and investment policy (the statement that sets how we plan to deliver the investment objective) of each fund to make these easier to understand. We believe that these changes make the fund’s aims, and the type of investments the fund may invest in, clearer."
No immediate action required
    September 2020 **In Liquidation** LF Equity Income Fund C Inc Third capital payment to Investors   "LF Equity Income Fund (formerly named LF Woodford Equity Income Fund) (the “Fund”), a sub-fund of LF Investment Fund (formerly named LF Woodford Investment Fund) (the “Company”)
We, Link Fund Solutions Limited, are writing to inform you that we are now in a position to make a third capital distribution from the winding up of the Fund and to provide an update on the publication of the Fund’s annual accounts. Further details are provided below."
No immediate action required
    September 2020 Invesco Global Equity Fund Changes to Distributions   "Distribution Change - Invesco Global Equity Fund
We have received notification from Invesco Fund Managers Limited that the frequency of distribution payments for the below Global Equity funds. |Current Distribution Dates Period: 30th April & 31st October changing to 30th April, 31st July, 31st October & 31st January. Share Class Names Affected: |Invesco Global Eq Inc Acc|Invesco Global Eq Inc Inc|Invesco Global Eq Inc NT Acc|Invesco Global Eq Inc Z Acc|Invesco Global Eq Inc Z Inc|"
No immediate action required
    August 2020 T. Rowe Price Funds SICAV Frontier Markets Equity Q GBP Acc Change to the Prospectus   'There has been a "change made to the prospectus of T.Rowe Price Funds SICAV (the "company"), in the June 2020 update, within the Frontier Markets Equity Fund page - As of 3rd of August, countries of investment will be defined as those countries that are included in the MSCI Frontier Emerging Markets Index as well as any other countries not covered by the MSCI AC world Index" No immediate action required
    August 2020 Scottish Mortgage Investment Trust Plc Ordinary Shares 5p Change in Investment Policy   '"Following it’s AGM on 25/06/2020, the Investment Policy of the Scottish Mortgage Investment Trust (GB00BLDYK618) has changed to allow the unlisted holdings in the portfolio to increase by 5% to 30%, at the time of purchase.
The change is effective from 26/06/2020, and the new Investment Policy can be found at the link below;
https://www.bailliegifford.com/en/uk/individual-investors/funds/scottish-mortgage-investment-trust/about-the-trust/"
No immediate action required
    August 2020 Kames Ethical Equity B Acc Name Consolidation   '"Our business currently operates through various brands, including Aegon Asset Management in the US, Asia and Continental Europe, and Kames Capital in the UK. We want to align our capabilities around a single brand, so subject to regulatory approval from 7 September 2020 we will retire the Kames Capital name and become Aegon Asset Management across all markets.
While the Kames Capital name is well-known in the UK, we believe this change will enable us to operate more efficiently in a competitive market and fulfil our potential as a global investment manager. Further details of the branding changes are set out below."
No immediate action required
    August 2020 TM Cavendish Opportunities Fund B Class Change in Investment manager   '"As part of our role as Authorised Corporate Director of the above Company, we appoint an investment manager to manage the assets of the Sub-Funds in accordance with the Prospectus. Cavendish has been acting in this capacity since the launch of the Company. Following the acquisition of Cavendish’s investment activities by Stonehage Fleming, Stonehage Fleming has been appointed as the new investment manager of the Sub-Funds with effect from 21st July 2020." No immediate action required
    August 2020 Ninety One Cautious Managed Fund I Acc Clarification of Investment Policy   '"Changes to the investment objective and policy
We are making amendments to the investment objective (the statement that sets out what we aim to achieve with your investment) and investment policy (the statement that sets how we plan to deliver the investment objective) of each fund to make these easier to understand. We believe that these changes make the fund’s aims, and the type of investments the fund may invest in, clearer."
No immediate action required
    August 2020 **In Liquidation** LF Equity Income Fund C Inc Re-suspension of Woodford Equity income fund   'Link Fund Solutions Limited (“LFS”) as the Authorised Corporate Director of the Fund, has today
obtained the agreement of the Funds’ Depositary to suspend dealing in shares in the Fund, with
immediate e?ect and until further notice.
After consideration of all relevant circumstances relating to the Fund’s assets, we have, in conjunction
with Woodford Investment Management Limited (“Woodford”), the appointed Investment Manager,
come to the conclusion it is in the best interests of all investors in the Fund to suspend the issue,
cancellation, sale, redemption and transfer of shares in the Fund.
Following an increased level of redemptions, this period of suspension is intended to protect the
investors in the fund by allowing Woodford, as previously communicated to investors, time to
reposition the element of the fund’s portfolio invested in unquoted and less liquid stocks, in to more
liquid investments.
During the period that share dealing is suspended no requests to redeem, purchase or transfer
shares in the Funds will be accepted. When LFS elects to resume dealing in the shares of the Fund, we
will write to all investors informing them of this fact.
No immediate action required
    August 2020 MI Miton Cautious Monthly Income Fund B Inc Change in Investment Manager   '"The manager of the Trust is to change from Maitland Institutional Services Ltd (“Maitland”) to Premier Portfolio Managers Limited (“Premier”). This means that with effect from 1 August 2020 (the “Effective Date”) the Trust will be operated by Premier. Premier are authorised by the Financial Conduct Authority (with firm reference number122067) to act as authorised fund manager to the Trust. Further information about Premier is available atwww.premiermiton.com, and you can contact them at the contact details set out later in this letter.
Under the Financial Conduct Authority (the “FCA”) Rules you are entitled to advance notice of the proposed changes and this letter constitutes that notice. The FCA has given written confirmation that this change of manager and the implementation of the changes set out in this letter will not affect the continued authorisation of the Trust."
No immediate action required
    July 2020 Schroder UK Public Private Trust Plc Ordinary Shares 1p Clarification of Investment Objective   "The investment objective of Schroder UK Public Private Trust PLC (SUPP or the Company) is to achieve long-term capital growth through investing in a diversified portfolio with a focus on UK companies, both quoted and unquoted." No immediate action required.
    July 2020

GS Fund Range:

GS Global Small Cap CORESM Equity Portfolio R Snap GBP Inc
GS India Equity Portfolio R GBP Inc

EGM announcement   "GS to hold an EGM of the Company to be held on 8 June 2020 at 11.00 a.m. (Luxembourg time) without a physical meeting, in accordance with the Grand Ducal Regulation adopted on 20 March 2020" No immediate action required.
    July 2020 Hermes Global Emerging Markets Fund GBP F Acc Annual Review agenda   "As part of an annual review the Prospectus has been updated to:
• reflect the name change of the Company to “Federated Hermes Investment Funds plc”, as approved by shareholders at the Extraordinary General Meeting (“EGM”) held on 20 March 2020;
• include a share class table listing the available share classes and providing an overview of their respective features;
• include Federated Investment Counselling as an additional Investment Manager;
• include detail on the risk of a health pandemic to investments;
• reflect recent developments in regard to Brexit;
• remove the provision prohibiting switching from Class C Shares to Class F Shares or from Class RC Shares to Class R Shares in order to authorise switching between these share classes;
• reflect the change in the board of directors of the Manager and service providers of the Company;
• remove references to CGRI Guidelines and replace with an overview of the Investment Managers’ approach to responsible and Environmental, Social and Governance (“ESG”) investing; and
• include amendments to part of the Addendum to the Prospectus dated 6 May 2020."
No immediate action required.
    July 2020 MI Miton Cautious Monthly Income Fund B Inc Changes to Fund Structure   "Changes to the MI Miton Cautious Monthly Income Fund (the “Trust”)
We are writing to notify you of some important changes to the Trust. Details of these changes and the implications for you as a unitholder in the Trust are set out below.
1.Change of manager and other service providers
2. Other changes to the Trust from the Effective Date
There are a number of other changes being made to the Trust as part of or as a consequence of the change of manager, which will be effective from the Effective Date. These changes are set out below.
2.1 Change to the name of the Trust
From the Effective Date, the Trust will be renamed to include a reference to Premier, in order to reflect the change of Manager. This means that the name of the Trust will change to “Premier Miton Cautious Monthly Income Fund”.
2.2 Change of investment objective and policy of the Trust
From the Effective Date, the existing investment objective and policy of the Trust will change as set out below.
The investment objective and policy for the Trust is being amended to provide more clarity for investors. The changes are not material and will not change the way the Trust is managed or its risk profile."
No immediate action required.  
    July 2020

Vanguard Fund Range:

Vanguard Global Small Cap Index Acc
Vanguard Global Short Term Bond Index Acc GBP Hedged
Vanguard Global Bond Index Acc
Vanguard FTSE Developed Europe ex U.K Equity Index Acc
Vanguard UK Inflation Linked Gilt Index Acc
Vanguard Emerging Markets Stock Index Acc

Multiple changes to share classes   " [Vanguard] advise you of a number of changes in connection with the Company’s desire to make the Share classes available in the Funds more clearly accessible and transparent to Shareholders to include:
(a) Change of Share Class Names
(b) Consolidation of Share Classes and Subsequent Revision of Share Class Names;
(c) Share Classes Closing to New Investment; and
(d) Change of Minimum Investment Amounts
further details in respect of each of these proposed changes are detailed below.
As part of this update, it is proposed to include a revised Share class table, which captures the Share classes available for all sub-funds of the Company in one table within the Prospectus, and to make certain changes as outlined below. It is proposed that the changes detailed in this Notice will take effect from 19th June 2020 (the “Effective Date”) and will be reflected in a revised Prospectus and Key Information Documentation (“KIIDs”) to be dated the Effective Date. Thereafter, you will see the new Share class name (as referenced in Appendix I) on your valuations, statements and any other correspondence you receive from the Company."
No immediate action required.
    July 2020

Kames Fund Range:

Kames Short Dated High Yield Global Bond Fund GBP B Inc Hedged
Kames Diversified Monthly Income B Inc

Kames Funds to align with regulatory approval   "Our business currently operates through various brands, including Aegon Asset Management in the US, Asia and Continental Europe, and Kames Capital in the UK. We want to align our capabilities around a single brand, so subject to regulatory approval from 7 September 2020 we will retire the Kames Capital name and become Aegon Asset Management across all markets.
While the Kames Capital name is well-known in the UK, we believe this change will enable us to operate more efficiently in a competitive market and fulfil our potential as a global investment manager. Further details of the branding changes are set out below."
No immediate action required.
    July 2020

Aberdeen Standard Fund range:

ASI Multi-Manager Diversity Fund

AMC reduction & Fund name changes  

"AMC Change - Aberdeen Standard

We have received notification from Aberdeen Standard that the Annual Management Charge for the below fund will be changing on 01.07.2020. |ASI Multi-Manager Diversity Fund A Acc - AMC changing from 1.20% to 0.95%|

Fund Name Change - Aberdeen Standard Investments

We have received a notification from Aberdeen Standard Investments informing us that the name of the ASI Global Unconstrained Equity funds will be changing from 07.07.2020. |ASI GlUnconEq Ret Acc changing to ASI Gbl Focused Eq Ret Acc| |ASI GlUnconEq R Pf 1 A changing to ASI Gbl Focused Eq R Pf 1 A|

Fund Name Changes - Aberdeen Standard

We have received a notification from Aberdeen Standard informing us that the name of the below funds are changing as of 07.07.2020. |Aberdeen Gbl Chinese Eq X Acc changing to Aberdeen All China Equity X Acc| |Aberdeen Gbl American Eq X Acc changing to Aberdeen American Focused Equity X Acc| |Aberdeen Gbl American Eq A Acc changing to Aberdeen American Focused Equity A Acc|"

No immediate action required.
    July 2020 First State Funds Changes in charging structure of First State funds  

"We have received notification from First State that the AMC for the below Stewart Investors funds will be changing:

Stewart Investors Asia Pacific Fund Class A (Acc/Inc) GBP AMC changing from 1.55% to 1.50% | Stewart Investors Asia Pacific Fund Class B (Acc/Inc) GBP AMC changing from 0.90% to 0.85% | Stewart Investors Asia Pacific Leaders Fund Class A (Acc/Inc) GBP AMC changing from 1.50% to 1.45% | Stewart Investors Asia Pacific Leaders Fund Class B (Acc/Inc) GBP AMC changing from 0.85% to 0.80% | Stewart Investors Asia Pacific Sustainability Fund Class A (Acc) GBP AMC changing from 1.55% to 1.50% | Stewart Investors Asia Pacific Sustainability Fund Class B (Acc) GBP AMC changing from 0.90% to 0.85% | Stewart Investors Global Emerging Markets Fund Class A (Acc) GBP AMC changing from 1.75% to 1.65% | Stewart Investors Global Emerging Markets Fund Class B (Acc) GBP AMC changing from 1.00% to 0.90% | Stewart Investors Global Emerging Markets Leaders Fund Class A (Acc) GBP AMC changing from 1.50% to 1.45% | Stewart Investors Global Emerging Markets Leaders Fund Class B (Acc/Inc) GBP AMC changing from 0.85% to 0.80% | Stewart Investors Global Emerging Markets Sustainability Fund Class A (Acc) GBP AMC changing from 1.55% to 1.50% | Stewart Investors Global Emerging Markets Sustainability Fund Class B (Acc) GBP AMC changing from 0.90% to 0.85% | Stewart Investors Indian Subcontinent Sustainability Fund Class A (Acc) GBP AMC changing from 1.75% to 1.70% | Stewart Investors Indian Subcontinent Sustainability Fund Class B (Acc) GBP AMC changing from 1.00% to 0.95% | Stewart Investors Latin America Fund Class A (Acc) GBP AMC changing from 1.75% to 1.65% | Stewart Investors Latin America Fund Class B (Acc) GBP AMC changing from 1.00% to 0.90% | Stewart Investors Worldwide Equity Fund Class A (Acc/Inc) GBP AMC changing from 1.50% to 1.25% | Stewart Investors Worldwide Equity Fund Class B (Acc/Inc) GBP AMC changing from 0.85% to 0.60% | Stewart Investors Worldwide Select Fund Class A (Acc) GBP AMC changing from 1.50% to 1.20% | Stewart Investors Worldwide Select Fund Class B (Acc) GBP AMC changing from 0.75% to 0.45% | Stewart Investors Worldwide Sustainability Fund Class B (Acc/Inc) GBP AMC changing from 0.85% to 0.60% |"

No immediate action required.
    July 2020 TM CRUX European Scheme arrangement  

Scheme of Arrangement - Thesis Unit Trust Management Ltd

We have received notification from Thesis Unit Trust Management Ltd informing us of a Scheme of Arrangement involving the TM CRUX European fund. The effective date of the Scheme of Arrangement is 10.07.2020. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 03.07.2020. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed. |TM CRUX European A Acc changing to TM CRUX European I Acc|

No immediate action required.
    June 2020 LF Lindsell Train UK Equity Acc Change to Investment Objective   "Revised investment objective and policy of the Company, with effect from the Effective Date To achieve capital and income growth and provide a total return in excess of the FTSE All-Share Total Return Index, over any five-year period, after all costs and charges have been taken.
Capital invested is at risk and there is no guarantee the objective will be achieved over any time period."
No immediate action required.
    June 2020

M&G Fund Range:

M&G Global Themes I Inc

Changes to Charging structure   M&G Securities Limited has decided to postpone the economies of scale charging metrics for six months - where a discount would usually be reduced - and will revert to fund charges from the first quarter of this year from 28 April 2020. You will have recently received an update on 7 April 2020 with updated annual charges for Q2 2020, which have likely already been implemented in your pricing feed and fully appreciate that this will create some additional workload on your behalf, however this postponement comes as a gesture of goodwill to support those that matter to M&G the most – M&G’s customers - following the unprecedented market moves and volatility resulting from the COVID-19 pandemic. No immediate action required.
    June 2020

Vanguard Fund series:

Vanguard Global Bond Index Acc
Vanguard FTSE Developed Europe ex U.K Equity Index Acc
Vanguard UK Inflation Linked Gilt Index Acc
Vanguard Emerging Markets Stock Index Acc

Change to Pricing structure   "We have received notification from Vanguard Investment Manager regarding changes to the pricing of the Vanguard Investment Series Funds. With immediate effect, Vanguard are changing the pricing from Single to Swing. This means that, where there are sales or purchases that exceed the threshold, the price will be adjusted to counteract the potential impact on the fund. This change is being made because Swing Pricing is widely used throughout the fund industry and they believe it is a fair way of allocating the costs of dealing in the Fund’s investments. The implementation of Swing Pricing is across all Ireland and UK domiciled fund ranges, excluding ETFs. Please follow link for a list of those Funds affected." No immediate action required.
    June 2020 **Closed** Polar Capital UK Absolute Equity Fund I Inc GBP Fund Closure   "The Fund is being terminated in accordance with the provisions of the Memorandum and Articles of Association and the Prospectus of the Company which provide, inter alia, that:
All the Shares of the Company or of any Fund may be redeemed: - at the discretion of the Directors, by giving not less than 30 days notice in sending to the Shareholder; The decision to terminate the Fund has been prompted by the poor health of the individual Fund Manager."
No immediate action required.
    June 2020

GS Fund Range:

GS Global Small Cap CORESM Equity Portfolio R Snap GBP Inc
GS India Equity Portfolio R GBP Inc

EGM announcement   "A notice to convene an extraordinary general meeting of shareholders of the Company (“EGM”) and to inform Shareholders of the changes made to the Prospectus.
Shareholders should note that all existing Shareholder rights including (i) voting rights and (ii) subscription and redemption rights, each as described in the Company’s Prospectus, remain unchanged."
No immediate action required.
    June 2020 Merian Strategic Absolute Return Bond Fund U3 Acc Hedged GBP Changes to Performance Fee Periods   "In accordance with the new requirements imposed in respect of Performance Fees under the Central Bank UCITS Regulations 2019, the Performance Fees payable in respect of the Funds will now crystallise annually (as opposed to semi-annually). The Performance Period for each of the Funds will end on 31 December each year." No immediate action required.
    June 2020 Jupiter European I Inc Change to Charging structure   The aggregate operating fee will generally be set at 0.24% across the funds except where the rate of the Registration fee plus the other operational charges is currently less than 0.24%. In this case the aggregate operating fee will remain at that lower rate. No immediate action required.
    June 2020 LF Prudential Risk Managed Active 2 P Inc Clarification of investment objective   "In response to Financial Conduct Authority (“FCA”) guidance, with effect from 1ST June 2020 (the “Effective Date”), amendments are being made to the wording of the investment objective of each Sub-fund. Under the FCA rules you are entitled to advance notice of those changes, this letter constitutes that notice.
The full text of the current and revised investment objective of each Sub-fund is attached as appendices to this letter. Whilst the investment objectives of each Sub-fund remain the same, we have simplified the way they are described to make them easier to understand."
No immediate action required.
    June 2020 ASI American Equity Enhanced Index Fund B Acc Changes to the Funds   "Investment policy change, There is a minor clarification in the investment objectives to explain the target of each of the funds is to exceed the return of the specific index by 0.75% per annum (before charges) instead of plus 0.75% per annum (before charges). No change has been made to the target of the funds and there will be no impact on the returns that you an expect from the Funds as a result of tis minor update." No immediate action required.
    May 2020

JP Morgan Fund Range:

JPM US Equity Income C Net Inc
JPM US Select C Acc
JPM US Equity Income C Net Inc

Change to Dilution adjustment thresholds   "Notice of Change to Dilution Adjustment Threshold, JPMorgan ICVC, JPMorgan II ICVC and JPMorgan III ICVC.
With effect from 19th March 2020 and until further notice, the Authorised Corporate Director has decided to reduce the dilution adjustment threshold from 1% to 0% on any given Dealing Day (as defined in the relevant prospectus) when there are net cancellations in the relevant funds.
In case of net creations in the relevant funds on any given Dealing Day, the dilution adjustment threshold of 1% will continue to apply.
Notice of Change to Dilution Adjustment Thresholds for JPMorgan Fund ICVC, JPMorgan Fund II ICVC and JPMorgan Fund III ICVC
This is to inform you that, in light of the prevailing market conditions, the Authorised Corporate Director has decided, with effect from 31 March 2020 and until further notice, to increase the dilution adjustment threshold for all relevant funds in JPMorgan Fund ICVC, JPMorgan Fund II ICVC and JPMorgan Fund III ICVC from 0% to 0.5% in case of net cancellations on any given Dealing Day (as defined in the relevant prospectus), and to reduce the dilution adjustment threshold applicable to these funds in case of net creations from 1% to 0.5% on any given Dealing Day (as defined in the relevant prospectus)."
No immediate action required.
    May 2020 Janus Henderson Fund Range
&
**Suspended** Janus Henderson UK Property PAIF Feeder Fund I Inc
Updates to KIIDS & Update on suspended Property fund  

"We have made a number of changes to the funds’ Key Investor Information Documents (KIIDs), as part of the 2020 annual update, and these documents now reflect the following:

  • Specific fund performance targets (see overleaf for a list of funds where this applies).
  • The extent to which a fund is managed with reference to a benchmark and the freedom the manager has in choosing investments for a fund.
  • A brief summary of the manager’s investment strategy.
  • Updates to the past performance section to show the index, peer group or performance target against that of the fund (not all of these will be relevant for all funds).

Janus Henderson UK Property PAIF Feeder Fund I Inc, the funds would remain suspended whilst there continues to be material valuation uncertainty across the fund’s direct property investments. The dealing suspension therefore remains in place until further notice. The situation will continue to be monitored by the ACD with a further update provided within the next 28 days or sooner should the situation improve."

No immediate action required.
    May 2020

GS Fund Range:

GS Global Small Cap CORESM Equity Portfolio R Snap GBP Inc
GS India Equity Portfolio R GBP Inc

Increase in Maximum Swing factor   "We are writing to inform you of the ability to increase the maximum swing factor which may be used to apply swing pricing to the Portfolios as a temporary measure.
Currently, the maximum percentage by which the net asset value shall be adjusted (the “Swing Factor”) will generally not exceed 2% of the net asset value of the relevant Share.
Considering the exceptional market conditions resulting from the spread of the COVID-19 pandemic, the Luxembourg supervisory authority, the Commission de Surveillance du Secteur Financier, has allowed market participants to increase the Swing Factor beyond the maximum level disclosed in the Prospectus, on a temporary basis as from the date of this notice for as long as the conditions so require."
No immediate action required.
    May 2020 Liontrust Income Fund C Inc Decrease in OCF   "For all the Global Equity Funds, the Ongoing charges figure (OCF) will decrease or remain the same once changes have been implemented." No immediate action required.
    May 2020 HSBC Fund range Decrease in OCF  

We regularly review our charges to ensure that our Funds remain competitive. Following a recent review, we have decided to reduce the registration fee to 0% for the Income C and Accumulation C Share Classes in the following funds:

  • HSBC FTSE 250 Index Fund
  • HSBC FTSE All-World Index Fund
  • HSBC Japan Index Fund
  • HSBC Pacific Index Fund
  • HSBC FTSE 100 Fund
  • HSBC UK Gilt Index Fund

In addition we have reduced the Annual Management Charge (AMC) for the Income C and Accumulation C Share Classes of the FTSE 100 Index Fund.
 The AMC has reduced from 0.10% to 0.07%
These changes took effect from the 1st April 2020."

No immediate action required.
    May 2020 LF Lindsell Train UK Equity Acc Updated Investment strategy   "The changes and the reasons for making them can be summarised as follows:
(a) the investment objective of the Company remains the same, however we have simplified the way it is
described to make it easier to understand;
(b) whilst the asset classes that the Company may invest in directly and indirectly (i.e. via other
investment vehicles, such as other funds) remain the same, in the revised version of the investment
policy we have provided further detail regarding those asset classes and changed the way we
describe some of them. We have also clarified which assets may only be held indirectly and have
provided more detail on the method used to gain exposure to the asset class; and
(c) we have now included in the section of the prospectus for the Company (the “Prospectus”) headed
“Investment Strategy” information on how Lindsell Train Limited, the investment manager of the
Company, selects the investments of the Company and makes adjustments to the portfolio."
No immediate action required.
    May 2020 Polar Capital UK Absolute Equity Fund I Sterling Inc Fund Closure   "Fund closure for Polar Capital UK Abs Equity
We have received a notification from Polar Capital informing us that the Polar Capital UK Absolute Equity fund has been suspended with immediate effect, the Fund will terminate on 15/05/2020. All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to buys and sells with immediate effect to prepare for the fund closure. Any model portfolios that contain the Fund will become invalid and need to be updated. Polar Capital UK Abs Eq I GBP ; Polar Capital UK Abs Eq S GBP"
No immediate action required.
    May 2020 Artemis Fund Range
&
Artemis Pan-European Absolute Return
Update to Investment Objectives & Fund closure  

"Artemis High Income Fund. The existing objective refers to “obtaining a higher than average initial yield”.
This is open to different interpretation and is difficult to measure. The newly worded objective will be “to
provide a combination of a high level of income and capital growth, before fees, over a rolling five-year
period.” The manager defines a high level of income as equal to, or in excess of, the average yield of those
funds making up the Investment Association Strategic Bond sector, in which the Fund sits.
Artemis Global Emerging Markets Fund. The existing objective refers to the fund seeking a combination of
income and capital growth. Although this fund does generate some income, we believe that it is more
appropriate to emphasise the potential for capital growth. The newly-worded objective will be “to grow
capital over a five-year period.
Artemis Capital Fund. The existing investment policy refers specifically to the fund having an emphasis on
investing in companies which are listed in the FTSE 100. While the fund has historically held a substantial
portion of its assets in the shares of companies which are listed in the FTSE 100, the fund manager believes
that the relative importance of this has declined over time. As a result, although the fund will still maintain
an emphasis on investing in the United Kingdom, we will be changing the investment policy so that in the
future there will be no specific proportion of the fund’s assets which has to be invested in companies which
are listed in the FTSE 100. The fund’s new policy will be to invest at least 80% of its assets in the United
Kingdom."

"Fund Closure - Artemis Pan-European Absolute Return
We have received a notification from Artemis informing us that on 20.05.2020 they will be liquidating the Pan-European Absolute Return Fund. All holdings on the effective date will be compulsorily redeemed. The Fund has been closed to buys and sells with immediate effect to prepare for the fund closure. Any model portfolios that contain the Fund will become invalid and need to be updated."

No immediate action required.
    May 2020

Vanguard Fund range:

Vanguard Global Small Cap Index Acc
Vanguard Global Short Term Bond Index Acc GBP Hedged
Vanguard UK Inflation Linked Gilt Index Acc

Update to Fund information  

"The changes to Vanguard funds can be summarised below:
(a) Change of Share Class Names
(b) Consolidation of Share Classes and Subsequent Revision of Share Class Names;
(c) Share Classes Closing to New Investment; and
(d) Change of Minimum Investment Amounts
'Name Change - Vanguard SRI Global Stock Fund changing to Vanguard ESG Dev World All Cap Equity Index

We have received a notification from Vanguard informing us that as of 13/05/2020 the name of the Vanguard SRI Global Stock Fund Inc/Acc will be changing to Vanguard ESG Dev World All Cap Equity Index Inc/Acc."

No immediate action required.
    May 2020 Japanese Gold Week Temporary Trading suspension   "Temporary Suspension - Japanese Gold Week
Various notifications have been received in relation to the Japanese Golden Week holiday which has been declared in Japan. As a result of this, Japanese stock markets will be closed throughout the period and a number of funds are subsequently being temporarily suspended from 01/05/2020 to 06/05/2020."
No immediate action required.
    May 2020     Threadneedle Managed Fund Changes to AMC   "AMC Change - Threadneedle Managed Funds Range
We have received notification from Columbia Threadneedle that the AMC for the below funds will be changing on 07.05.2020. Please see a share class breakdown of the changes below: |Threadneedle Managed Eq Fcsd 1 AMC Changing from 1.45% to 1.25% | Threadneedle Managed Bnd Fcsd 1 AMC Changing from 1.25% to 1.15% | Threadneedle Managed Equity 1 AMC Changing from 1.50% to 1.30% | Threadneedle Mngd Bnd Fcsd 1 AMC Changing from 1.25% to 1.10% | Threadneedle Managed Bond 1 AMC Changing from 1.15% to 0.90% | Threadneedle Managed Bond 2 AMC Changing from 0.90% to 0.85% | Threadneedle Defensive Eq & Bd 2 AMC Changing from 1.00% to 0.90% | Threadneedle Managed Bnd Fcsd 2 - Current AMC 1.00% -New AMC 1.00% | Threadneedle Managed Eq Fcsd I AMC Changing from 1.20% to 1.05% | Threadneedle Managed Equity 2 AMC Changing from 1.25% to 1.10% | Threadneedle Managed Eq Z Acc AMC Changing from 0.90% to 0.75% | Threadneedle Mngd Eq Fcsd Z Acc AMC Changing from 0.85% to 0.70% | Threadneedle Mngd Eq & Bnd Z Acc - Current AMC 0.65% - New AMC 0.65% | Threadneedle Mngd Bnd Fcsd Z Acc AMC Changing from 0.65% to 0.60% | Threadneedle Managed Bond Z Acc - Current AMC 0.55% - New AMC 0.55% |"
No immediate action required.
    April 2020

Artemis Fund range:

Artemis Income I Inc

Artemis US Extended Alpha Fund I Acc

Update to Investment Objectives & Policies   "Update to investment objectives and policies
As part of its market study into the asset management industry, the Financial Conduct Authority (FCA) found that the investment objectives and policies of investment funds could be difficult for investors to understand.
The FCA suggested they could be made clearer, for example by improving their layout, removing any jargon and clarifying important points.
So we have decided to update the investment objectives and policies of: (i) the Artemis retail unit trusts; and (ii) the sub-funds of Artemis Investment Funds ICVC (together the “Funds”). The full list of the funds in question is set out in Annex 1.
You do not need to take any action as a result of this letter. We do, however, encourage you to read this letter as it gives you more information about how we will describe the Funds in the future and why this is changing."
No immediate action required.
    April 2020 Man GLG UK Income Fund Professional Inc Changes to Investment Objectives & Policies  

Summary of the changes to be made to the Funds’ names, investment objectives and policies:
In light of the Policy Statement and the FCA’s requirements and expectations more generally, we, in consultation with the Investment Adviser of the Funds (GLG Partners LP), have determined to make a number of clarifications to the Funds’ investment objectives, policies and certain other related information.
By way of summary, we are making the following changes to the Funds’ names (for the UK Income Fund), investment objectives, policies and related information:
1. Fund name change
UK Income Fund
We will change the name of this Fund to the “Man GLG Income Fund” in order to provide a more precise representation to investors of the types of assets in which the Fund may invest. This change will take effect from on or around 31 March 2020.

Please note that this amendment is not required in order to reflect changes to the way in which the Fund
is being managed in practice.
Undervalued Assets Fund
For the avoidance of doubt, the name of this Fund will not be changed.
2. Clarifications to the Funds’ investment objectives
UK Income Fund
The investment objective of this Fund will be amended to clarify that, whilst the Fund seeks to provide
income, it has a more specific target of providing income (gross of fees) above the FTSE All-Share Total
Return (NDTR) Index over 1 year rolling periods and outperforming (gross of fees) the FTSE All-Share
Total Return (NDTR) Index over the long-term (over 5 year rolling periods).
Please note that these clarifications are not required in order to reflect changes to the way in which the Fund is being managed in practice, but are intended to provide investors with more detail on the financial outcomes the Investment Adviser seeks to achieve.
Undervalued Assets Fund
The investment objective of the Fund will be amended to clarify that the Fund more specifically targets
outperformance (net of fees) of the FTSE All-Share Total Return (NDTR Index) over the long-term (over 5 year rolling periods).
Please note that this clarification is not required in order to reflect changes to the way in which the Fund is being managed in practice, but is intended to provide investors with more detail on the financial outcomes the Investment Adviser seeks to achieve.
3. Clarifications to the Funds’ investment policies:
UK Income Fund
We are also making a number of clarifications to this Fund’s investment policy. Among other things, we
will be taking the opportunity to clarify that the Fund may invest in collective investment schemes (e.g.
other investment funds) and to provide more detail on the policy and approach taken by the Fund’s
Investment Adviser. We will also be providing more detail in relation to the equities in which the Fund
invests.
In addition, we will be incorporating additional information to describe how a benchmark may be used by
the Investment Adviser when making investment decisions for the Fund.

No immediate action required.
    April 2020 Liontrust US Opportunities Fund C Acc Clarification of objectives & Benchmarks   There has been a clarification of objectives and benchmarks for certain funds, including a change to fund costs and charges,
change to the income distribution frequency of certain share classes and a change to the expense deduction methodology for certain funds/share classes.
No immediate action required.
    April 2020 Janus Henderson Fund range: Changes to KIIDS   "Advance notice of a number of changes to Janus Henderson’s UK fund range, further to our letter in July last year, and as part of our ongoing commitment to make improvements to our fund documentation, we are writing to provide you with prior notice of some further updates to our UK fund range.
We are not changing the risk profile or the way the funds are managed as a result of these updates. You do not need to take any action in response to this letter.
What changes are being made?
We have made a number of changes to the funds’ Key Investor Information Documents (KIIDs), as part of the 2020 annual update, and these documents now reflect the following: -
• Specific fund performance targets (see overleaf for a list of funds where this applies).
• The extent to which a fund is managed with reference to a benchmark and the freedom the manager has in choosing investments for a fund.
• A brief summary of the manager’s investment strategy.
• Updates to the past performance section to show the index, peer group or performance target against that of the fund (not all of these will be relevant for all funds).
These updated KIIDs have been made available from mid-February 2020. The investment objective, policy and strategy of the funds in the relevant Prospectus will also be updated to include these additional disclosures in order to more closely align the Prospectus with the KIID. These changes will be effective from 5 May 2020."
No immediate action required.
    April 2020 Sirius Minerals Plc Ordinary Shares 0.25p Sirius Minerals has been acquired   "Summary of the terms of the Acquisition
Under the terms of the Acquisition, which is subject to the satisfaction (or, where applicable, waiver) of the
Conditions and to the further terms set out in Part Three (Conditions to and further terms of the Scheme
and the Acquisition) of this document, Scheme Shareholders at the Scheme Record Time will receive:
for each Sirius Share 5.50 pence in cash
The Acquisition values the entire issued and to be issued ordinary share capital of Sirius at approximately
£404.9 million and the price represents a premium of approximately:"
No immediate action required.
    April 2020

**Suspended** Aberdeen UK Property Fund I Inc

**Suspended** Standard Life Inv UK Real Estate Fund Platform 1 Acc

Suspension of Funds   "We are writing to inform you that in the interests of treating all investors fairly we have suspended dealing in the above Funds until further notice. We have made this decision in consultation with the Funds’ Depositary and have notified the Financial Conduct Authority.
We are suspending dealing in the Funds from the valuation point at midday on 18 March 2020. All dealing instructions received after 12.00pm on 17 March 2020 have been and will be rejected."
No immediate action required.
    April 2020

Royal London Short Duration Global Index Linked M Inc Hedged

Royal London UK Equity Income Fund M Inc

Changes to Benchmark   "Changes to the funds with Royal London Asset Management:
Summary of the changes 
Stating the formal target benchmark which will allow more visibility with performance targets for the fund comparator benchmarks have been introduced for performance comparisons update of the investment policy for each fund, to clarify how they intend to meet their objectives and explain the ways in which the fund managers can invest"
No immediate action required.
    April 2020 **Suspended** Janus Henderson UK Property PAIF Feeder Fund I Inc Fund Suspension   " Important information about the Janus Henderson UK Property PAIF (the Fund) and Janus Henderson UK Property PAIF Feeder Fund (the Feeder)
The board of Henderson Investment Funds Limited has today been advised by CBRE, the appointed independent valuer of the Fund, that with immediate effect they have material uncertainty around the valuation of UK physical properties across the market, and therefore by inference the assets in the portfolio, due to the COVID-19 pandemic. This material uncertainty extends across all UK property fund valuations issued by CBRE and was agreed to by all independent fund valuers. Given this uncertainty, the Board of Henderson Investment Funds Limited has decided to temporarily suspend dealings in the Janus Henderson UK Property PAIF and its associated Janus Henderson UK Property PAIF Feeder Fund to protect the interests of all investors. This decision is consistent with the new rules issued by the Financial Conduct Authority (FCA). Further details are set out below.
Dealing requests received since the 12 noon valuation point on 16 March 2020 will not be accepted during the suspension period. The decision to suspend dealing was taken in agreement with the Funds’ Depositary, NatWest Trustee and Depositary Services Limited, and the FCA has been informed. "
No immediate action required.
    April 2020 **Suspended** L&G UK Property Feeder I Inc Fund Suspension   "We are writing to confirm that in light of extreme market volatility and the exceptional circumstances in the UK property
market, we have taken the difficult decision to suspend trading in the Legal & General UK Property Fund (the “Fund”) and
Legal & General UK Property Feeder Fund (the “Feeder Fund”).
The suspension will apply to any instructions to be effected on or after the valuation point at 12.00 midday on 18th March
2020. This means we cannot process any instruction to buy, sell, transfer or switch shares in the funds placed after
midday on 17th March 2020. Any monies received for purchases will not be accepted and will be returned to investors. The
suspension will remain in place until further notice."
No immediate action required.
    April 2020 Hermes Global Emerging Markets Fund GBP F Acc Name Change   "Federated Hermes, Inc. (formerly Federated Investors, Inc.) and Hermes Investment Management have recently taken the decision to combine their names and present as a unified global brand. “Federated Hermes” will become the sole brand for all the Federated Hermes businesses and products. As part of the rebranding, the Hermes brand will be retired and replaced with the updated Federated Hermes branding.
As a result, and subject to the consent of the Companies Registration Office, it is proposed to change the name of the Company to “Federated Hermes Investment Funds public limited company” and to amend the M&A so as to reflect the new name. These amendments require the approval of the Shareholders of the Company by means of a special resolution.
Upon the passing of the above-mentioned special resolution, the M&A will be amended accordingly to reflect the new name of the Company."
No immediate action required.
    April 2020 BNY Mellon Global Dynamic Bond Fund Institutional W Inc Change to AMC  

"BNY Mellon Global Dynamic Bond - AMC Change

We have received notification from BNY Mellon that the AMC for the BNY Mellon Global Dynamic Bond Inc/Acc will be changing effective 01.04.2020. This will be changing from the Current AMC 0.625% to the New AMC 0.50%."

No immediate action required.
    April 2020 JPM US Select C Acc Change to dilution adjustment   "Notice of Change to Dilution Adjustment Threshold, JPMorgan ICVC, JPMorgan II ICVC and JPMorgan III ICVC.
With effect from 19th March 2020 and until further notice, the Authorised Corporate Director has decided to reduce the dilution adjustment threshold from 1% to 0% on any given Dealing Day (as defined in the relevant prospectus) when there are net cancellations in the relevant funds.
In case of net creations in the relevant funds on any given Dealing Day, the dilution adjustment threshold of 1% will continue to apply.
For further information on dilution adjustment, please refer to the relevant prospectus."
No immediate action required.
    April 2020 Invesco Multiple Funds Change to AMC  

"AMC Change - Invesco Multiple Funds

We have received notification from Invesco that the AMC for the several Invesco funds will be changing."

No immediate action required.
    April 2020 Aviva - Various Funds Fee reduction   "We have received notification from Aviva Investors informing us that there are reductions to the Fund Management Fee (FMF) for some of their funds from the onshore fund range, which will take effect from the 01.04.2020. Key points are as follows: Global Equity Endurance & Global Equity Income : reductions are due to cost savings which have been identified specific to these funds. UK Index Tracking, International Index Tracking & Monthly Income Plus : reductions are due to the market rates benchmarking exercise which has been undertaken. Changes outlined below: Aviva Investors Global Equity Endurance Fund SC 2 Acc fund management fee changing from 92 to 87 | Aviva Investors Global Equity Income Fund 1 Acc fund management fee changing from 117 to 112 | Aviva Investors Global Equity Income Fund 2 Acc fund management fee changing from 92 to 87 | Aviva Investors Global Equity Income Fund 2 Inc fund management fee changing from 92 to 87 | Aviva Investors International Index Tracking Fund Class 2 fund management fee changing from 31 to 25 | Aviva Investors Monthly Income Plus Fund Class 1 Acc fund management fee changing from 88 to 77 | Aviva Investors Monthly Income Plus Fund Class 1 Inc fund management fee changing from 88 to 77 | Aviva Investors UK Index Tracking Fund Class 1 fund management fee changing from 48 to 41 | Aviva Investors UK Index Tracking Fund Class 2 fund management fee changing from 23 to 20 " No immediate action required.
    April 2020 Blackrock GF New Energy Change to AMC   "We have received notification from Blackrock that the AMC for the below fund will be changing. This will change from the current AMC of 1% to the new AMC of 0.90% effective 01.04.2020." No immediate action required.
    April 2020 BlackRock Global Multi Asset Income Fund Fund Closure   "Fund Closure - BlackRock Global Multi Asset Income Fund
We have received notification from BlackRock informing us that on 06.04.2020 they will be liquidating the BlackRock Global Multi Asset Income Fund Acc/Inc. All holdings on the effective date will be compulsorily redeemed. The Fund will be closed to buys and sells from 30.03.2020 to prepare for the fund closure. Any model portfolios that contain the Fund will become invalid and need to be updated."
No immediate action required.
    April 2020 7IM European Equity Value & 7IM UK Equity Value Fund Closure   "Fund closure - 7IM European Equity Value C & 7IM UK Equity Value C
We have received a notification from Seven Investment Management informing us that on 30.04.2020 they will be liquidating the 7IM European Equity Value C Inc and 7IM UK Equity Value C Inc Funds. The Funds will be closed to buys and sells from the 23.04.2020 to prepare for the fund closure. All holdings on the effective date will be compulsorily redeemed. Any model portfolios that contain the Fund will become invalid and need to be updated."
No immediate action required.
    March 2020 BMO Pacific Equity 2 Acc Name Change   'BMO Pacific Equity Fund have formally appointed LGM Investments Limited to replace BMO Asset Management Limited as the investment manager of the Fund.
Furthermore they are also changing the name of the Fund from BMO Pacific Equity Fund to BMO Asia Pacific Equity Fund.'
No immediate action required.
    March 2020 Royal London UK Equity & Bond Fund range Notification - Fund Changes   Changes are to be made to the diultion policy & dealing days. No Immediate Action required. No immediate action required.
    March 2020

M&G Fund Range:

M&G Strategic Corporate Bond I Inc GBP
M&G Optimal Income Fund I Inc GBP

Changes to Invesmtent Policy & Objective  

'"Investment objective:
The new investment objectives will clearly state what each Fund aims to deliver for its
investors. Each will include a comparable market index or sector and a time horizon as a point
of reference against which investors may assess the Fund’s performance after charges have
been taken. The indices or sectors included in each new investment objective will be those
currently referred to as performance comparators in the Prospectuses, Key Investor
Information Documents (KIIDs) and factsheets.

Investment policy:
The new investment policies will provide greater detail of the types of assets each Fund ispermitted to invest in, and the limits within which each Fund is managed. Phrases such as“mainly” will be replaced by the specific amounts they describe (expressed as a percentage ofthe Fund’s total portfolio of assets)."

No immediate action required.
    March 2020 Investec Cautious Managed I Acc Net GBP Name Change   'Investec Funds Series i, Investec Funds Series ii, Investec Funds Series iii and Investec Funds Series iv (the ‘Funds’) will change their names to Ninety One Funds Series i, Ninety One Funds Series ii, Ninety One Funds Series iii and Ninety One Funds Series iv respectively on or around 27 April 2020. No immediate action required.
    March 2020

Artemis Funds range:

Artemis UK Special Situations I Acc
Artemis Strategic Bond MI Inc
Artemis US Extended Alpha Fund I Acc
Artemis Global Income Fund Class I Acc

Notification - Fund Changes   'The layout of the investment objectives and policies of the Funds will be changing. While there will be some
changes to wording as a result, we will not be making any changes to the way in which any of the Funds are
managed.
No immediate action required.
    March 2020 BNY Mellon Global Dynamic Bond Fund Institutional W Inc Reduction of AMC  

"We are reducing our annual management charge (AMC) for the Share Classes in the Sub-Fund (the changes are summarised below). This reduction reflects our ongoing commitment to ensuring these charges are consistent for similar products within our fund range, From 1 April 2020:

Institutional Shares W
£10,000,000
From 0.625% to 0.50%

U Shares
£100,000,000
From 0.50% to 0.40%"

No immediate action required.
    March 2020 Liontrust Income Fund C Inc Reduction in OCF   "Liontrust Global Equity funds are making changes to their costs and charges. The OCF will decrease or remain the same." No immediate action required.
    March 2020 Merian Global Strategic Bond Fund Name Change  

"Name Change - Merian Global Strategic Bond P Fund changed to Merian Global Strategic Bond R Fund

We have received a notification from Merian Investment Management Limited informing us that they intend to update the share class name of the Merian Global Strategic Bond Fund. The specified share classes will change name on 01.03.2020. Merian Global Strat Bond P Inc/Acc changing to Merian Global Strat Bond R Inc/Acc."

No immediate action required.
    March 2020 Quilter Investors Managed Fund Name Change  

"Name Change - Quilter Investors Managed Fund - (Scheme of Arrangement)

We have received notification from Quilter Investors Limited informing us of a Scheme of Arrangement involving the Quilter Investors Managed Fund Acc/Inc. The effective date of the Scheme of Arrangement is 13.03.2020. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sales on 06.03.2020. All model portfolios and holdings will be repointed to the receiving fund when the scheme of arrangement is processed."

No immediate action required.
    March 2020 Man GLG UK Income Fund Name Change  

Name Change - Man GLG UK Income Fund

We have received a notification from Man GLG informing us that they intent to update the name of the Man GLG UK Income Fund. The specified share classes will change name on 31.03.2020. Man GLG UK Income Ret Acc changing to Man GLG Income Acc

No immediate action required.
    March 2020 Lazard Global Equity Franchise Early Adopter Fund Soft closure  

"Soft Fund Closure - Lazard Global Equity Franchise Early Adopter Fund

Lazard Investment Management have informed us that on the 31.03.2020 they will be soft closing the Lazard Global Equity Franchise Early Adopter Fund. The Fund Manager has confirmed that they wish to restrict the Fund via our MPM tool on the effective date of the soft closure. This means existing holders would be able to access this Fund through model portfolios. Therefore, only those DFMs or IFA firms that hold the named Fund in their models will be granted access to continue making ad hoc investments into the share class. For any investor whereby the Fund is not held in a model portfolio, the Fund will be closed to buys from the 24th March 2020 to prepare for the soft closure."

No immediate action required.
    February 2020 MontLake DUNN WMA Institutional UCITS GBP Inst B Pooled Acc Hedged Change in performance fee   'The purpose of this Notice is to notify you of proposed changes relating to the Sub-Fund, as described below. No immediate action required.
    February 2020 **Cancelled** Thomas Cook Group Plc Ordinary Shares EUR 0.01 Winding up of Fund   Removal of Shares due to Liquidation of Company. No immediate action required.
    February 2020 Royal London Short Duration Global High Yield Bond Fund M Inc Introduction of a single Fund Management fee   Royal London are Introducing a single Fund Management Fee to create a simpler charging structure which will combine the current ongoing charges figure paid by the funds into a single, fixed charge. A consolidated fee structure is increasingly used by asset managers and offers investors a simpler way to comparte the charges in different funds. No immediate action required.
    February 2020 Man GLG UK Income Fund Changes to be made to the Funds’ names, investment objectives and policies.  

'Below is a summary of the changes to be made to the Funds’ names, investment objectives and policies.

Man GLG will change the name of this Fund to the “Man GLG Income Fund” in order to provide a more precise representation to investors of the types of assets in which the Fund may invest. This change will take effect from on or around 31 March 2020.

The investment objective of this Fund will be amended to clarify that, whilst the Fund seeks to provide income, it has a more specific target of providing income (gross of fees) above the FTSE All-Share Total Return (NDTR) Index over 1 year rolling periods and outperforming (gross of fees) the FTSE All-Share Total Return (NDTR) Index over the long-term (over 5 year rolling periods).

The investment objective of the Fund will be amended to clarify that the Fund more specifically targets outperformance (net of fees) of the FTSE All-Share Total Return (NDTR Index) over the long-term (over 5 year rolling periods).

We are also making a number of clarifications to this Fund’s investment policy. Among other things, we will be taking the opportunity to clarify that the Fund may invest in collective investment schemes (e.g. other investment funds) and to provide more detail on the policy and approach taken by the Fund’s Investment Adviser. We will also be providing more detail in relation to the equities in which the Fund invests.

In addition, we will be incorporating additional information to describe how a benchmark may be used by the Investment Adviser when making investment decisions for the Fund.

Similarly, we are also making a number of clarifications to this Fund’s investment policy. Among other things, we will be taking the opportunity to provide more detail in relation to the equities in which the Fund invests. We will also be including more detail on the policy and approach taken by the Fund’s Investment Adviser, including by incorporating additional information to describe how a benchmark may be used by the Investment Adviser when making investment decisions for the Fund.'

No immediate action required.
    February 2020 **In Liquidation** LF Equity Income Fund C Acc Winding up of Fund   'The FCA has provided its approval for the winding up of the Fund to commence on 18 January 2020. Therefore, the final valuation of the assets before the winding-up commences will occur on 17 January 2020.
These dates are unchanged and, as previously advised, once we had taken the decision to wind up the Fund, this was the earliest possible date for the winding up to commence because of the requirement under a European Directive to give investors three months’ notice of our decision.
In winding up the Fund, we will move to an orderly realisation of all its assets. After taking account of any liabilities that the Fund owes, including the costs associated with the winding up process and contingent commitments the Fund has in respect of its investments, we will begin paying you your share of the proceeds of the sale of the Fund’s assets.'
No immediate action required.
    February 2020 Liontrust SF Absolute Growth Fund Name Change   'Name Change - Liontrust SF Absolute Growth Fund changing to Liontrust SF Managed Growth Fund
Liontrust have notified us that the Liontrust SF Absolute Growth Fund will be re-named the Liontrust SF Managed Growth Fund. The specified share classes will change name on 10.02.2020'
No immediate action required.
    February 2020 LF ASI Income Focus Fund (formerly named the LF Woodford Income Focus Fund) Fund Suspension   'LF ASI Income Focus Fund (formerly named LF Woodford Income Focus Fund) - Fund Suspension Lifted
A notification has been received stating that LF ASI Income Focus Fund Inc/Acc (formerly named the LF Woodford Income Focus Fund) is in a position to enable the fund to re-open on the 13th February 2020 for dealing. With effect from that date the suspension of dealing in the shares of the Fund will be lifted and it will again be possible for you to buy and sell shares in the Fund.'
No immediate action required.
    February 2020 JPMorgan Fund ICVC – JPM UK Higher Income Fund & JPMorgan Fund II ICVC – JPM UK Equity Income Fund Fund Merger   'We have received a notification from J.P. Morgan Asset Management informing us that the JPMorgan Fund ICVC – JPM UK Higher Income Fund is proposed for Merger into JPMorgan Fund II ICVC – JPM UK Equity Income Fund. The effective date of the merger is 15/02/2020. Model portfolios will be affected until the merger has completed. The affected funds will be closed to buys and sales on 07/02/2020. All model portfolios and holdings will be repointed to the receiving fund when the merger is processed. JPM UK Higher Income C Acc/Inc merging into JPM UK Equity Income Fund C - Net Accumulation/Income' No immediate action required.
    February 2020 Legg Mason IF ClearBridge US Equity X Acc Change of Depositary   'The Depositary performs an important function in respect of the ICVC and is responsible for, among other things, the custody and safekeeping of its assets. We therefore wish to inform you that the current Depositary of the ICVC will be changing on 1 March 2020 from State Street Trustees Limited to The Bank of New York Mellon (International) Limited (“BNYM”).' No immediate action required.
    January 2020

BNY Mellon / Newton Fund range:

BNY Mellon Multi Asset Balanced Fund Institutional W Inc
BNY Mellon Global Income Fund Institutional W Inc
BNY Mellon Asian Income Fund Institutional W Inc

Clarififcation of Investment Objective   In order to incorporate the new FCA guidance, BNY Mellon Fund Managers Limited, in consultation with the investment manager of the Sub-Fund, Newton Investment Management Limited, is clarifying the investment objective and policy of the Sub-Fund.
There will be no change to the way the Sub-Fund is managed. The risk profile of the Sub-Fund is not expected to change as a result of the clarifications.
The FCA has confirmed the clarifications will not affect the Sub-Fund’s ongoing authorisation and the changes will take effect on 23 December 2019.
No immediate action required.
    January 2020 Woodford Patient Capital Trust Ordinary Shares 1p Change in Fund name   Woodford Patient Capital Trust plc has been renamed Schroder UK Public Private Trust plc and is now managed by Schroders. No immediate action required.
    January 2020 Orbis OEIC Global Balanced Fund Standard Inc Conversion of shares   The shares of this fund are being converted from Income Shares into Accumulation Shares - The Orbis OEIC are currently Income Shares that pay dividends. Dividend payments represent your share of the income earned on investments held by the Orbis OEIC during the year. When a dividend is paid out to investors, that payment decreases the value of the Fund. 
In the future, all Income Shares in the Orbis OEIC will be converted into Accumulation Shares and will no longer pay out dividends and instead any income earned by a Fund will be accumulated. 
This means that this income will be added to the capital property of the Fund and will remain invested. The Orbis OEIC Prospectus to set out a mechanism for this type of change of share class to take place when the Fund Manager believes that this is in your best interests.
No immediate action required.
    January 2020 Polar Capital Emerging Markets Income I GBP Inc Change in OCF   We have received notification from Polar Capital confirming a fee reduction for three of their Polar Capital Funds, with effect from 01/01/2020. Polar Capital Em Mkts Inc I Inc Old AMC 1% changing to 0.75% No immediate action required.
    January 2020 Kames Short Dated High Yield Global Bond Fund GBP B Inc Hedged Changes to Charge  

Change to Charge - Kames Capital ICVC

Kames Capital have informed us that they are making some changes to the Annual Management Fee of their fixed income fund range, which will take effect from 01/01/2020. Kames Short Dated High Yield Bond Fund CLS B GBP HGD Inc Amc Changing from 0.50% to 0.40% 

No immediate action required.
    January 2020 Man GLG UK Income Fund Professional Inc Fund Name Change   By way of summary, we are making the following changes to the Funds’ names (for the UK Income Fund), investment objectives, policies and related information:
There has been a Fund name change of the UK Income Fund the change of name for this Fund to the “Man GLG Income Fund” is in order to provide a more precise representation to investors of the types of assets in which the Fund may invest. This change will take effect from on or around 31 March 2020.
No immediate action required.
    January 2020 Rathbone Global Opportunities Fund Class I Acc Clarification of Documentation    Spent the last few months making documentation clearer so that its easier for the investor to understand how we invest money and what you should expect from one's investment. No immediate action required.
    January 2020 Garraway Absolute Equity Fund I Acc Fund Closure   Liquidiating investments and shares being sold down due to the closure of ther funs - investor doesn’t have to take any action at this time. No immediate action required.
    January 2020 M&G Dividend Fund Change in Distribution  Frequency   We have received a notification from M&G stating that the distribution frequency for the M&G Dividend Fund will change from semi-annual to quarterly from 1 January 2020. No immediate action required.
    January 2020 FP WHEB Asset Management funds Simplification of Charging structure   We have received notification from Fundrock that the FP WHEB Asset Management funds is simplifying the charging structure of share classes A, B and C by taking an all-in fee. The changes will become effective from 01/01/2020. 
All of the day to day operational costs and charges of managing the fund will be aggregated into a single, fixed rate “Management fee”.
This management fee will include their fees and those of all the other service providers to the fund plus the other costs of administrating the fund. The management fee will include all of the costs and charges that are typically included in the ongoing charges figure (OCF) of the fund.
No immediate action required.
    January 2020 VT Tatton Oak ICVC Fund Conversion   We have been made aware by Valu-Trac that they have processed a simplification to their available share classes in the VT Tatton Oak ICVC range. 
From 06/01/2020 they have closed the Class A and Class B share classes and mandatorily converted all shareowners to the new Balance Defensive Class/Balanced Advanced Class. Model portfolios will be affected until the merger has completed. The affected funds have been closed to buys and sells immediately. All model portfolios and holdings will be repointed to the receiving fund when the merger is processed. VT Tatton Oak Advanced (Acc) converts into VT Tatton Blended Aggressive (Acc) ; VT Tatton Oak Distribution Fund (Inc) converts into VT Tatton Blended Defensive (Inc).
No immediate action required.
    January 2020 Premier Portfolio Change in Pricing Policy   A notification has been received from Premier Portfolio Managers to advise that they are changing the pricing policy of all their single-priced funds (ICVC sub-funds). The method of pricing will be updated to “Swing Pricing.” The price will be swung upwards or downwards, subject to the net inflows or outflows of the fund on any given day. The effective date of this change will be 20.01.2020. No immediate action required.
    January 2020 JPMorgan Fund ICVC – JPM UK Higher Income Fund & JPMorgan Fund II ICVC – JPM UK Equity Income Fund Fund Merger   We have received a notification from J.P. Morgan Asset Management informing us that the JPMorgan Fund ICVC – JPM UK Higher Income Fund is proposed for Merger into JPMorgan Fund II ICVC – JPM UK Equity Income Fund. 
The effective date of the merger is 15/02/2020. Model portfolios will be affected until the merger has completed. The affected funds will be closed to buys and sales on 07/02/2020. All model portfolios and holdings will be repointed to the receiving fund when the merger is processed. JPM UK Higher Income C Acc/Inc merging into JPM UK Equity Income Fund C - Net Accumulation/Income
No immediate action required.
    January 2020 M&G Fund range:
 
M&G Global Select Fund Class I Inc
M&G Dividend Class I Inc
Changes in Investment Objectives   Each fund will have a separate investment objective, investment policy and investment approach. The new investment objectives will clearly state what each fund aims to deliver for its investors. Each will include a comparable market index and a time horizon as a point of
reference against which investors may assess the fund’s performance after charges have been taken.
In addition to the changes above, the funds’ Prospectuses will include an investment approach section providing further information on the way the fund is managed and how the fund manager constructs the portfolio.
No immediate action required.
    January 2020 TB Amati UK Smaller Companies B Acc Changes in fund description   Changes in the description to the sub fund in conjucntion with regulation change by the FCA. There has been a revision of Investment objective and policy wording - these include:
Introduction of compulsory share class conversions.
No immediate action required.
    December 2019 Orbis OEIC Global Balanced Fund Standard Inc Share Class Conversion  

Your shares are being converted from Income Shares into Accumulation Shares
Your shares in the Orbis OEIC are currently Income Shares that pay dividends. Dividend payments represent your share of the income earned on investments held by the Orbis OEIC during the year. When a dividend is paid out to investors, that payment decreases the value of the Fund. In the future, all Income Shares in the Orbis OEIC will be converted into Accumulation Shares and will no longer pay out dividends and instead any income earned by a Fund will be accumulated. This means that this income will be added to the capital property of the Fund and will remain invested. Orbis are updating the Orbis OEIC Prospectus to set out a mechanism for this type of change of share class to take place when the Fund Manager believes that this is in your best interests.

Orbis are planning to make this change in December 2019. Furthermore, they will send us an email within the next two months confirming the exact date of the conversion (the “Effective Date”). From that date no further dividends will be paid in respect of shares. Please note that this change will not affect the way in which the Funds are managed.

No immediate action required.
    December 2019 ASI Emerging Market Government Bond Fund Fund Closure  

Fund Closure - ASI Emerging Market Government Bond Fund

We have received a notification from Aberdeen Standard that they have decided to close the ASI Emerging Market Government Bond Fund with the effective date of 27/01/2020. 
All holdings on the effective date will be compulsorily redeemed. The fund will be closed to buys and sell on 20/01/2020. 

No immediate action required.
    December 2019 Various Polar Capital Funds Change in Charges  

Charging Change - Various Polar Capital Funds

We have received notification from Polar Capital confirming a fee reduction for three of their Polar Capital Funds, with effect from 01/01/2020. 

No immediate action required.
    December 2019 Kames Capital ICVC Change in Charges  

Change to Charge - Kames Capital ICVC

Kames Capital have informed us that they are making some changes to the Annual Management Fee of their fixed income fund range, which will take effect from 01/01/2020. The move will see the charges on some of the ‘B’ and ‘S’ share classes of the UK and Dublin-domiciled bond fund ranges cut.

No immediate action required.
    November 2019 Vanguard Fund range:
Vanguard UK Inflation Linked Gilt Index Acc
Vanguard Global Small Cap Index Acc
Vanguard FTSE Global All Cap Index A Acc GBP
Reduced OCF  

Vanguard has reduced the ongoing charges figure for a number of funds those that apply to TPO clients are:
U.K. Inflation-Linked Gilt Index Fund Gross Accumulation Fixed Income UK Mutual Fund Passive GBP 0.15% 0.12% 
U.K. Inflation-Linked Gilt Index Fund Gross Income Fixed Income UK Mutual Fund Passive GBP 0.15% 0.12% 

Furthermore, as part of Vanguard’s ongoing commitment to deliver value for money Vanguard has reduced the ongoing charges figure for a number of funds. The growing size and scale of our funds have helped fuel operational efficiencies that lower costs to serve clients. As a result, Vanguard have reduced their prices for Institutional shareclasses. They are happy to confirm that they are able to waive the investment minimum for the institutional shareclasses for the platforms that we use.

No immediate action required.
    November 2019 MI Somerset Fund range:
MI Somerset Emerging Markets Dividend Growth Inc
Clarification of Dilution Levy  

When an investor buys or sells shares, the Fund has to buy or sell investments. Due to costs (such as charges,
foreign currency exchange costs, taxes, and spreads) which the Fund has to pay, the price of buying investments
may be greater than the value of the investments (or the proceeds of selling investments may be less than the
value of the investments). This difference in value is known as ‘dilution’ and is a cost to the Fund.
Previously, a pre-set dilution levy was charged separately to the Fund price to protect long-term investors. The
dilution levy has always been paid into the Fund and not to the Investment Manager or platforms. The pre-set dilution
levy for the fund we hold been set at the following levels:

MI Somerset Emerging Markets Dividend Growth Fund – 0.40%

Our investors in that the same price will be used for both the purchase and sale of shares, with no additional levy
added to the share price.

No immediate action required.
    November 2019 Rolls Royce Group Plc C Shares 0.1p Non-Cum Pref Shares Payments to Shareholders   The next payment to Shareholders will be made on 3 January 2020. No immediate action required.
    November 2019

L&G Fund Range:

L&G UK Property Feeder I Inc
L&G Dynamic Bond Fund I Inc
L&G US Index Trust I Acc

Change to fund invesmtent objectives   In response to FCA rule changes that became effective 07/08/19 - L&G have updated the fund investment objectives and policies so that they are clearer and more useful to investors and have explained why and how they use particular benchmarks for funds, or not and how investors should assess the performance of a fund. They also have clarified how they manage the funds, the risk profiles associated with them, investors are not required to take action. No immediate action required.
    November 2019

Fidelity Fund range:

Fidelity MoneyBuilder Balanced Y Inc
Fidelity Strategic Bond Y Dist Inc

Share Class renames for Fidelity Funds   'Share class name changes - On 21 November 2019 Fidelity changed the names of the Y share classes to W. This simplified the range of share classes available for each fund. There is no action in response to the name changes. The charges will not change, and the number of shares held will remain the same. Regular savings or withdrawal plans will not be affected. Any costs relating to the changes will be met by Fidelity rather than the funds in question. No immediate action required.
    November 2019 BMO Managed Portfolio Trust Plc Income Shares 10p Name Change   The name has changed to BMO Managed Portfolio Trust Plc Income Shares 9.49761p No immediate action required.
    November 2019 M&G Property Portfolio & M&G Feeder of Property Portfolio Fund Suspended  

Dealing Suspension - M&G Property Portfolio & M&G Feeder of Property Portfolio

A notification has been received from M&G stating that the M&G Property Portfolio & the M&G Feeder of Property Portfolio funds have been temporarily suspended from trading. The suspension is effective immediately and as a result the funds have been closed to buys and sells from 05/12/2019. Any model portfolios which contain the funds will be impacted. At this time we have not been given any indication of when the suspension may be lifted, however updates will be provided as they are received.

No immediate action required.
    November 2019 Premier Defensive Growth Fund C Net Inc Change in Benchmark  

To help investors assess the performance of this Fund, Three Month GBP LIBORSONIA is used for comparison purposes.

The London Interbank Offered Rate (LIBOR), is a benchmark interest rate at which major global banks lend to one another in the international interbank market for short-term loans. 

The Sterling Overnight Index Average (SONIA) is a widely used interest rate benchmark administered by the Bank of England. SONIA is based on actual transactions and reflects the average of the interest rates that banks pay to borrow sterling overnight from other financial institutions. 

As the Fund aims to deliver an absolute return over a rolling 36 month basis with low volatility, through a portfolio that includes investments with predictable return profiles, the Investment Adviser believes it is a meaningful benchmark to help investors assess the performance of the Fund.

Performance data on other funds using this benchmark may be prepared and published by data providers, which can be used when evaluating the performance of theis Fund.

No immediate action required.
    November 2019

M&G Fund range:

M&G Global Select Fund Class I Inc
M&G Dividend Class I Inc

Changes to the investment objectives, investment policies and investment approaches   Investment objective, Investment policy and Investment approach changes:
Each fund will have a separate investment objective, investment policy and investment approach.
Furthemore, The M&G Dividend Fund’s distribution frequency will increase from semi-annually to quarterly. The Fund will pay its last six-monthly distribution (for the interim period ending 31 December 2019) on 28 February 2020. Thereafter distributions will be paid quarterly.
No immediate action required.
    November 2019 JPM UK Strategic Equity Income Fund Fund Name Change   Name Change - JPM UK Strategic Equity Income Fund. We have received notification from JPM that, effective 28/01/2020, they will be changing the name of the JPM UK Strategic Eq Inc to the JPM UK Eq Val. No immediate action required.
    October 2019 Baillie Gifford Strategic Bond Fund Range Change in income distribution   "[Baillie Gifford have] undertaken a review of the  Sub funds and wish to make you aware of a change that we are making in the way expenses are charged to the Sub-funds. Currently the expenses of the Sub-funds are charged against the income that a Sub-fund receives. This means that the distributions of the income a Sub-fund receives are reduced by these expenses. From 1st October 2019, we wish to charge all permitted expenses of a Sub-fund to the capital account of that sub-fund. This change will increase the income available to be distributed compared to that available while charging expenses against income. No immediate action required.
    October 2019 EdenTree Amity Sterling Bond Fund Range Change to the Annual Monthly Cost   "We have received notification from EdenTree Investment Management that the AMC for the EdenTree Amity Sterling Bond Fund A Inc will be changing from 1.25% to 1.15% and for the EdenTree Amity Sterling Bond Fund B Inc from 0.65% to 0.55%." No immediate action required.
    October 2019 GAM Star Fund range Notification of a merger   "We have received notification of a merger from GAM Star Lux. The effective date of the Scheme of Arrangement is 11/10/2019. Model portfolios will be affected until the merger has completed. this fund will be closed to buys and sells 04/10/2019. GAM Star Emerging Alpha I Acc [is] merging into GAM Star (Lux) Financials Alpha I" No immediate action required.
    October 2019 Invesco Hong Kong & China Fund range (UK) Name change   "We have received notification from Invesco informing us of a name change involving Invesco Hong Kong & China Acc. The effective date of the name change will be 31/10/2019. Invesco Hong Kong & China Z changing to Invesco China Equity Fund (UK)" No immediate action required.
    October 2019 LF Woodford Equity Income Fund Inc/Acc Fund Suspension  

"On 4th June..., LF Woodford Equity Income Fund Inc/Acc was suspended for dealing, with funds closed to buys and sells and any model portfolios containing the Fund impacted. Further to this, we have now received the following update in relation to the specified funds. LF Woodford have informed us that they have taken the decision to place the LF Woodford Equity Income Fund into an orderly wind up. This is with a view to returning cash to investors at the earliest opportunity. 

LF Woodford will now take the necessary steps to request formal permission and it is expected that the winding up of the Fund will formally commence on 17/01/2020. They have explained that this orderly realisation will allow the return of money through interim payments to investors more quickly than if the Fund had remained suspended for a longer period of time. It is anticipated that the first capital distribution will be paid to all underlying clients by the end of January 2020. We will continue to provide regular updates, when they are received by Link Asset Services, in respect of the sale of the Fund’s assets and the payment of further capital distributions until the completion of the winding up of the Fund."

No immediate action required.
    October 2019 Legg Mason IF ClearBridge US Equity X Acc Change of Investment policy   "We are writing to you as a shareholder in one or more Funds to inform you principally of a number of
connected changes we have made to the investment objectives and/or investment policies of certain Funds. For a number of the Funds we have added disclosures to inform investors of the relevant indices and benchmarks used by the Funds as performance targets which the relevant Funds seek to achieve."
No immediate action required.
    October 2019 LionTrust Fund range Completion of acquisition   "Liontrust announced the completion of the acquisition of Neptune Investment Management Limited.
The investment team, headed by Robin Geffen and which is now named the Liontrust Global Equity team, has joined Liontrust along with their 19 Global, Income, Regional and Emerging Markets funds. There will be no change to the managers running the funds or the investment process used. Robin Geffen will focus solely on managing funds and the investment team. "
No immediate action required.
    October 2019 Marlborough ETF Global Growth Fund  Arrangement agreement   "We have received notification from Marlborough Fund Managers Limited informing us of a Scheme of Arrangement involving the Marlborough ETF Global Growth Fund & VT iFunds Absolute Return Orange Fund. The effective date of the Scheme of Arrangement is the 22/10/2019. Model portfolios will be affected until the merger has completed. Please note, we will close the fund to buys and sells 15/10/2019. [The] Old asset name Marlborough ETF Gbl Gth P Acc [will change to] VT iFunds Abs Rtn Orange A Acc" No immediate action required.
    October 2019 Neptune Fund range Completion of merger   "We have received notification from Liontrust Asset Management Plc that they have received Change in Control approval from the FCA for the acquisition of Neptune Investment Management Limited (“Neptune”). The effective date for the acquisition will be 01/10/2019. Following the acquisition, the name of Neptune will change to Liontrust Investment Management Limited (“LIM”)" No immediate action required.
    October 2019 Premier Defensive Growth Fund range Increased OCF charge   "In the Premier Defensive Growth Fund, please be advised of an increase in the OCF of the Fund. This change became effective on 31 May 2019.
B class 1.09% - 1.14%
C Class 0.84% - 0.89%"
No immediate action required.
    October 2019 Premier Multi Asset Monthly Income Fund Decreased OCF charge   "With regard to your clients’ holdings in the Premier Multi Asset Monthly Income Fund, please be advised of a decrease in the OCF of the Fund. For the ISINs in question, the OCF was decreased from 1.25% to 1.23%. This change became effective on 30 April 2019." No immediate action required.
    October 2019 Prudential Plc Ordinary Shares 5p Proposed demerger of M&G plc   "Prudential plc has announced its intention to demerge M&G Prudential, its UK and European savings and investments business, and to float it as an independent company on the London Stock Exchange. If you are a Prudential or M&G customer, the demerger won’t affect the products or service you already receive. [They’ll] be continuing to operate under the Prudential brand in the UK and Europe, and the M&G brand worldwide. Ultimately, becoming an independent company means we will have more flexibility and freedom to serve you better." No immediate action required.
    October 2019 River & Mercantile funds Name change & ACD change   "Name and ACD Change - River & Mercantile (RAMAM) changing to Equity Trustees Fund Services Limited (ETFS) We have received a notification from River & Mercantile that as of 16/10/2019 the ACD of the ICVC will be changing from River and Mercantile Asset Management (RAMAM) to Equity Trustees Fund Services Limited (ETFS)." No immediate action required.
    October 2019 Man GLG Bond Fund range Fund merger (Sanlam to Man GLG)   "Man GLG has successfully completed the merger of the Sanlam Strategic Bond fund it acquired last year, which has now been rolled into the Man GLG Strategic Bond fund. Man GLG acquired Sanlam FOUR’s strategic bond business in September 2018 as part of an agreement to hire lead portfolio manager Craig Veysey, who is Citywire AAA-rated, and deputy portfolio manager Francois Kotze." No immediate action required.
    October 2019 TM CRUX European Special Situations Fund I Acc Name change & of change ACD   "Following a strategic review it has been decided that the ACD, which is the organisation
responsible for the management and operation of the Company and the sub-funds, will
change from us, FPL, to Tutman on the Effective Date which will result in some changes to
the Company.
It is not expected that the ongoing charges figures for the Company and its sub-funds will
be impacted by these changes. The annual management charge for each of the sub-funds
is remaining unchanged."
No immediate action required.
    October 2019 Vanguard Emerging Markets Stock Index Acc Reduced OCF   "Effective 23rd of October 2019 Vanguard has reduced the ongoing charges figure for a number of funds.
The growing size and scale of [the] funds have helped fuel operational efficiencies that lower our costs to serve clients."
No immediate action required.
    October 2019 VT Garraway Absolute Equity Fund I Acc
**Closed**
Termination of Fund   "Liquidation of investments, the underlying investments of the Fund will be sold and we expect to return to you the proceeds attributable to around 50 per cent of your shares on 25 September 2019. Based on current trading volumes, and to minimise the impact on pricing, we estimate that complete liquidation of the remaining holdings in the Fund will take between 9 and 12 months. 
The time period for the sell down cannot be guaranteed due to the illiquid nature of the remaining
holdings and as some are unlisted investments."
No immediate action required.
    September 2019 Aviva Investors High Yield Bond Fund 2 Inc Change in Investment Objective   " [Aviva Investors] are changing the way we describe the Funds’ aim. This is not a change to the way the Fund is run, it is just designed to make the objective clearer. Previously [they had] not defined what “maximising total return” meant, nor what a “high level of income” was, the simplest comparison for this would have been to other high yield bond-based investment and saving products. Whilst this remains the case, and we still aim for the Fund to continue to “maximise total return while generating a high level of income” compared to other high yield bond-based investment products going forwards, we believe it is more appropriate to set a defined level of return that the Fund aims to generate in relation to the benchmark. " No immediate action required.
    September 2019 Aviva Investors Multi Strategy Target Income Fund Share Class 2 Inc Change of Investment objective   "[Redefined investment objective] The Fund will aim to grow your investment through a combination of income and capital returns by investing in bonds issued by companies, governments or large institutional organisations, whilst aiming to provide a net return greater than the benchmark over the long term (5 years or more). The benchmark (the "Index") is a Bloomberg Barclays Composite Index." No immediate action required.
    September 2019 AXA Fund range Change in Investment Policy   Multiple Axa Framlington funds have had a change in investment policy.  No immediate action required.
    September 2019 Baillie Gifford Fund range Change in Investment Objective & policies   "[Baillie Gifford are] amending the investment objectives and policies of [their] sub-funds to make them clearer and more meaningful to shareholders. [The] aim is to increase consistency across [the] range and help shareholders to better understand what the Sub-fund is trying to achieve.
Updated Investment Objective: The Sub-fund aims to produce monthly income. Opportunities for capital growth are also sought, subject to prevailing market conditions.
- The Sub-fund will invest at least 80% in a diversified portfolio of (1) investment grade and (2) sub investment grade bonds, issued by corporate issuers, public bodies and supranationals, and (3) developed market government
bonds.
- The Sub-fund will be actively managed through bond selection and strategic asset allocation.
To the extent that the Sub-fund is not fully invested in such bonds, the Sub-fund may also invest in other bonds, shares, other transferable securities, money market instruments, deposits and cash.
- The bonds in which the Sub-fund invests will be denominated in sterling or denominated in other currencies and hedged back to
sterling.
- The Sub-fund may use derivatives and currency forwards for both investment purposes and in the management of risk."
No immediate action required.
    September 2019 Fidelity Fund range Share class conversions   "We have received a notification from Fidelity that they will move investments in the current share classes of the below funds into the new share classes in three tranches. Fidelity advises that consolidating these share classes will simplify the product offering and standardise the naming convention across the range. As a consequence of these conversions the OCF and AMC will reduce."  No immediate action required.
    September 2019 Fidelity Multi Asset and Open World funds Name change of fund   "Further to the assets involved in a name change effective on 07/082/019, Fidelity have notified us of the additional name changes below which have the later effective date of 04/09/2019, with share classes either changing from N share to W share or changing name from UK corporate Bond to Sterling Corporate Bond, to simplify the range of share classes available." No immediate action required.
    September 2019 Franklin UK Rising Dividends Fund W Inc Change in investment objective and policy   "The fund aims to grow in value by more than the FTSE All-share Index by generating a growing level of income, together with investment growth over a three year to five year period after all fees and costs are deducted." No immediate action required.
    September 2019 GAM Star Balanced & GAM Star Growth funds Name change   "We have received a notification from GAM Star that the GAM Star Balanced and GAM Star Growth funds will be changing name as per the below, effective from 06.09.2019. GAM Star Growth changing to GAM Star Global Growth ; GAM Star Balanced changing to GAM Star Global Balanced" No immediate action required.
    September 2019 Invesco Fund range Change in Investment Policies & Name Change  

"We have received notification from Invesco informing us of a name change involving Invesco Hong Kong & China Acc. The effective date of the name change will be 31/10/2019. Invesco Hong Kong & China Z changing to Invesco China Equity Fund (UK)"

What changes have been made?
The following is a summary of the changes we have made to the ICVC funds’ prospectuses:
Investment Objectives and Policies
– We have amended the fund’s investment objectives and policies to make them clearer and more specific. We believe it is now easier for investors to understand the fund’s aims and the type of investments the fund may invest in.
– We have also changed the way information is laid out to make it clearer and easier for investors to read.

Investment Strategies:
– We have included a new section to describe the investment strategy and the criteria used by the fund manager when making investment decisions.
Benchmark
– We have included a new section to disclose if a fund uses a benchmark and if it does whether such benchmark is:
– A target benchmark: when a fund seeks to achieve a specific target in relation to a benchmark, for example, to outperform a particular benchmark;
– A constraining benchmark: when a fund manager’s investment decisions are constrained by a benchmark; and/or
– A comparator benchmark: when a benchmark can be used by investors to compare to the performance of a fund."

No immediate action required.
    September 2019 Jupiter Fund range Clarifications to investments objectives and policies   "Analysis carried out by the UK regulator, the FCA, on the asset management industry has identified that generally the drafting of fund investment objectives and policies could be improved to enable investors to make better informed decisions in relation to funds in which they choose to invest. 
Jupiter has therefore taken the opportunity to review the investment objectives and policies of all the Funds in order to make them clearer so that investors can better understand what each fund is aiming to do."
No immediate action required.
    September 2019 Liontrust fund range Confirmation of benchmarks   "Following the review by the FCA, Liontrust has confirmed benchmarks for all funds. Most of the funds will not use constraint or target benchmarks. This is because the funds are actively managed and can have stock and sector weightings that differ significantly from indices and many of other funds in IA sectors, hence they are not constrained by any benchmark and this reduces the relevance of targeting outperformance against such benchmarks. The exceptions are mainly for income funds that aim to produce a yield higher than a stated index and therefore have a target benchmark." No immediate action required.
    September 2019 Merian fund range Clarifications of fund objectives and Policies   "We are writing to you as an investor in one or more funds in Merian Investment Management Limited’s UK fund range... to notify you of some clarifications we are making to the investment objectives and policies of the Funds on 7 August 2019 (the “Effective Date”).
The Financial Conduct Authority has identified that investment objectives, policies and the disclosure of benchmarks in UK fund literature requires improvement to ensure that investors are able to make informed decisions in relation to the funds in which they invest.
In light of this, we are clarifying the investment objectives and policies of the Funds and including details about the benchmarks we use to make it easier for investors to understand how we manage the Funds and how to evaluate the performance of a Fund."
No immediate action required.
    September 2019 River and Mercantile UK Equity Smaller Companies B Inc Change of Authorised Corporate Director   "The existing authorised corporate director of the company, River and Mercantile Asset management LLP ("R&M") is retiring and is to be replaced by Equity Trustees fund services ltd ("ES"). R&M has decided to retire following an internal  review which looked at whether the appointment of an authorised corporate director which is not part of the R&M group of companies could deliver a better outcome for investors. 
R&M believes that having a an independent authorised corporate director aligns with increasing industry demands for improved governance and independence on authorised corporate boards, and is a merial step towards avoiding any perceived conflicts of interest"
No immediate action required.
    September 2019 Royal London Fund range Changes to Objectives and Policies   "The Fund’s investment objective is to achieve a total return over the medium term, which should be considered as a period of 3-5 years, by investing predominantly in investment-grade euro-denominated corporate bonds.
The Fund's performance target is to outperform the ICE BofAML Euro Corporate & Pfandbrief Index (the "Index") over a rolling five year period. The Index is regarded as a good measure of the performance of investment-grade corporate bonds denominated in euros."
No immediate action required.
    September 2019 Man GLG Strategic Bond Fund Merger (Sanlam to Man GLG)   "We have received notification from Man Group Plc informing us of a proposed merger involving the Sanlam Strategic Bond Fund into a sub-fund of Man Funds plc, namely Man GLG Strategic Bond. The effective date of the Scheme of Arrangement will be 23/09/2019." No immediate action required.
    September 2019 Schroder Mixed Distribution Fund Name change   "We have received a notification from Schroders that the Schroder Mixed Distribution Fund will be changing name to the Schroder Monthly Income Fund, effective from 02.09.2019." No immediate action required.
    September 2019 Schroder Fund range Name change   "We have received a notification from Schroders that the Schroder Mixed Distribution Fund will be changing name to the Schroder Monthly Income Fund, effective from 02.09.2019. This will be accompanied by a small change in the investment objective and policy.
The changes seek to make the objectives and aims of the fund(s) clearer to investors and to ensure the language used in the objective and policy is consistent across our fund range. The changes may include:
- the introduction of a formal target return benchmark which we believe better reflects the performance aims of the fund. Please be aware that the formal target return benchmark does not mean the fund manager must invest in accordance with the benchmark, but has the freedom to invest where they feel they can best meet the return objective of the fund.
- a revised investment policy with updated language on how the fund seeks to meet its objectives and a new disclosure on how the fund manager might invest in securities outside of the fund’s primary focus.
- We have also introduced comparator benchmarks for most funds which can be used for performance comparison purposes during the life of the fund but is not set as a performance target. The comparator benchmarks will be set out in the fund prospectus and key investor information documents."
No immediate action required.
    September 2019 Trojan Fund Range Change in Investment Policies & Benchmarks  

"The changes and the reasons for making them can be summarised as follows:

(a) the investment objective of the Sub-fund remains the same, however we have simplified the way it is described to make it easier to understand;

(b) whilst the asset classes that the Sub-fund may invest in directly and indirectly (i.e. via other
investment vehicles, such as other funds) remain the same, in the revised version of the investment
policy we have provided further detail regarding those asset classes and changed the way we
describe some of them. We have also clarified which assets may only be held indirectly and have
provided more detail on the method used to gain exposure to the asset class; and

(c) we have now included in the section of the prospectus for the Company (the “Prospectus”) headed “Investment Strategy” information on how Troy Asset Management Limited, the investment manager of the Company, selects the investments of the Sub-fund and makes adjustments to the portfolio. The changes described above are intended to provide more clarity to investors, enabling them to more easily understand the Sub-fund’s investment objective and how the Sub-fund aims to achieve that objective."

No immediate action required.
    August 2019 Santander Asset Management Clarity on Investment Objectives   "As a result of the Asset Management Market study, we have implemented in our Fund Documents a clear, standardised method of describing how our Funds operate and how you can measure their performance. We have acted on guidance from the AMMS and FCA that seeks to ensure that investment managers better and more clearly articulate to shareholders in fund documents: (I) how and within what parameters a fund operates, (ii) how shareholders in a fund can measure how well that fund is performing." No immediate action required.
    August 2019 Aberdeen Standard Investments (fund range) Change to Investment objectives   There will be a series of minor changes to the wording of Aberdeen Property ICVC investment objective and policy changes. The new proposed investment objective will include a new performance target with which to gauge the performance of the fund against. The new proposed investment policy with include specific guidelines that fund will seek to follow, clearly defining the management process, the portfolio of investable securities and the use of derivatives and techniques. No immediate action required.
    August 2019 Franklin Templeton Change to Investment objectives   "In light of the Asset Management Market study, we have made some changes to the description of the current objective and investment policy. These changes are designed to improve the quality, comparability and robustness of fund information available to investors in all UK registered funds, including Franklin Templeton Funds."  No immediate action required.
    August 2019 Baillie Gifford Fund Range Change to Investment objectives   "We are amending the investment objectives and policies of our Sub-funds to make them clearer and more meaningful to shareholders. The aim is to improve shareholders understanding of what the sub-fund is seeking to achieve. In light of the FCA guidance on the use of benchmarks, we have included a benchmark for each sub-fund and categorised the benchmark to allow you to better assess performance of your investments." No immediate action required.
    August 2019 Aberdeen UK fund range Change to Investment objectives  

"As Aberdeen Investment Funds ICVC  is to be renamed Aberdeen Standard OEIC I, the Aberdeen UK Mid-Cap Equity Fund will be renamed ASI UK Mid-Cap Equity Fund as well changes to its investment objective and Policy. 

The fund will adopt a slight change to its investment objective and policy. "We have decided that it is in the best interests of our investors to amend the investment policy of the Fund to slightly widen the definition of a mid-capitalisation stock." The appendix of the document issued to clients offers a more specific overview of the funds investment objective and investment policy."

No immediate action required.
    August 2019 Barings Strategic Bond Change to investment policy   We have made changes to the description of the investment policy of the Trust. The revised wording is intended to make the investment policy clearer as regards the Trust's current investment activities and indicating to investors how they may wish to assess performance.  No immediate action required.
    August 2019 Investec Cautious Managed Change to investment policy  

In light of changes made by the FCA we are making changes to the investment objective to include the Fund's benchmark.

"Our changes clarify the investment objective by including the target benchmark for the Fund, which is to outperform the UK Consumer Prices Index (CPI) +4% each year (gross of fees) over 5 year rolling periods. 

The CPI has been chosen as a benchmark because we believe it sets a realistic expectation, given the current market environment, of the fund's long-term real returns based on the principal asset types available for investment."

No immediate action required.
    August 2019 Kames Fund Range Change to investment policy   In light of the Asset Management Market study, we have made some changes to the description of the current objective and investment policy. These changes are designed to improve the quality, comparability and robustness of fund information available investors. Furthermore, in line with the publication of recent FCA rules and guidance, we have categorised the benchmarks used by us in the management of each sub-fund as a target benchmark, constrained benchmark or comparator benchmark.  No immediate action required.
    August 2019 Liontrust Fund Range Change to benchmarks   "Over the past few months we have been reviewing the benchmarks used for all our funds. This has been prompted by new rules introduced by the Financial Conduct Authority. The FCA set out three benchmark categories, which are: A constraint benchmark, A target benchmark, A comparator benchmark. Following the review, we have confirmed that we will not use constraint or target benchmarks. This is because our funds are actively managed and can have stock and sector weightings that differ significantly from indices and many of the other funds in IA sectors, hence they are not constrained by any benchmark and this reduces the relevance of targeting outperformance against such benchmarks.  It is instructive, however, for investors to be able to compare performance of our funds against a market and their peers. Therefore, the majority of our funds have benchmarks that fall within the comparator category." No immediate action required.
    July 2019 Policy Selection Assured  Structuring of Sale   "As we informed previously we have a buyer for a specific portion of the assets of the Fund. The sale of those assets will mean that the NRV Redemption queue can be fulfilled, a huge landmark for the Fund.

During the course of the buyer investigations into the assets a perceived weakness was identified with the proposed structuring of the sale through the Belgian entity, arising from a change in the tax circumstances, which brought into question the effectiveness of the structure in relation to the Belgian entities' situation under a double taxation treaty with the USA. If a structure does not have the benefit of the double taxation treaty then any gains on maturities would have been subject to the US withholding tax of 30%, which is clearly undesirable to all parties. 

Accordingly, following a comprehensive review of the sale structuring, the Board of Directors of the Fund, upon recommendation from their legal counsel, decided to revise the structure using a  vehicle from another EU Member State. Ireland has been identified as the most favourable jurisdiction in which to re-domicile the assets. The revised structuring process is currently underway and it is expected to be fully formed in accordance with Irish requirements in a few weeks."
No immediate action required.
    July 2019 Investec Cautious Managed Change to Fund Objective   "The Fund's investment objective is to provide a combination of income and long-term capital growth.

Our changes clarify the investment objective by including the target benchmark for the Fund, which is to outperformed the UK Consumer Prices Index (CPI) +4% each year (gross of fees) over 5 year rolling periods. Please remember that there is no guarantee that the Fund will deliver a positive return or its performance target over 5 year periods or over any period and that there is a risk of loss."
No immediate action required.
    July 2019 LF Lindsell Train UK Equity Fund Change to AMC   "The annual management charge (AMC) the ACD receives for managing the Income and Accumulation share classes of the Company will be reduced from 0.65% to 0.60%." No immediate action required.
    July 2019 Janus Henderson Fund range Change to benchmark   "We are writing to you to provide you with advance notice that we will be updating our fund documentation to reflect more clearly how we make use of benchmarks in the management of our UK domiciled funds. The below funds will include additional wording in a fund's investment policy to reflect a Constraining Benchmark. We are making it clearer that in each case the fund is restricted in how much it can invest in shares of companies: Multi-Manager Distribution Fund, Multi-Manager Diversified Fund, Multi-Manager Income & Growth, Multi-Managed Fund. 

The below funds show where we are including additional wording in a  fund's investment objective to reflect a Target Benchmark: Asia Pacific Capital Growth Fund, Diversified Growth Fund, European Absolute Return Fund, European Growth Fund, Global Technology Fund, Japan Opportunities Fund, UK Absolute Return Fund."
No immediate action required.
    June 2019 Royal London Short Duration Global Index Linked Hedged and Royal London UK Equity Income Fund Change to charging structure   "Our current charging structure for each Fund consists of our Annual Management Charge plus other fees and expenses, including Depositary Fees, Registrar Fees, Audit Fees and Legal Fees. Together these fees and expenses make up the Ongoing Charges Figure (OCF), a measure of a fund's costs that must be disclosed in its Key Investor Information Documents (KIIDS). We are now proposing to simplify the way in which the Funds bear charges by replacing the Annual Management Charge and other allowable expenses within the OCF with a single, fixed fund expenses currently borne by each Fund as described above which make up the OCF."  No immediate action required.
    June 2019 LF Woodford Equity Income Fund Suspension of dealing    "Link Fund Solutions Limited (LFS) as the Authorised Corporate Director of the Fund, has today obtained the agreement of the Fund's Depository to suspend dealing in shares in the fund, with immediate effect and until further notice. 

Following an increased level of redemptions, this period of suspension is intended to protect the investors in the fund by allowing Woodford, as previously communicated to investors, time to reposition the element of the fund's portfolio invested in unquoted and less liquid stocks, in to more liquid investments. 

During the period that share dealing is suspended no requests to redeem, purchase or transfer shares in the Funds will be accepted. When LFS elects to resume dealing in the shares of the Fund, we will write to all investors informing them of this fact."
No immediate action required.
    June 2019 BlackRock Strategic Funds Change to performance fees   "As part of a comprehensive review and to reflect developments in industry practice, BlackRock has proposed a change to the performance fee calculation methodology. 

The introduction of the money weighted component to the calculation better reconciles the interests of Shareholders with BlackRock and ensures that Shareholders pay a performance fee more closely aligned with the performance that they have experienced."
No immediate action required.
    June 2019 Newton (BNY Mellon) Global Dynamic Bond Fund Aligning names of sub-funds    BNY Mellon have notified us that they have aligned the names of the Sub-Funds in BNY Mellon Investment Funds, effective 10 June 2019.  No immediate action required.
    June 2019 J O Hambro Capital Management Operational Changes   "The changes are:
- Change of the authorised corporate director (the ACD), which is the entity responsible for the day to day operation of the Company. the ACD of the Company will change from JOHCML to its affiliate, JOHCM Funds (UK) Limited.
- Appointment of the investment manager. The proposed new ACD, JOHCM Funds, will delegate investment management and distribution to its affiliate JOHCML.
- Change to the allocation (but not amount) of the fees and expenses currently payable to the existing ACD such as those fees and expenses currently payable to the existing ACD will be allocated between the new ACD and the investment manager. Changes to the Annual Management Charge, expenses and performance fee - expenses and a portion of the Existing Annual Management Charge (0.05% of NAV per annum) will be paid to JOHCM Funds; and the performance fee, expenses and the remaining portion of the Existing Annual Management Charge will be paid to JOHCML."
No immediate action required.
    June 2019 Allianz Global Sustainability Fund Strategy   The Board of Directors have implemented a series of changes to the Allianz Global Sustainability fund range. These changes include measures such as: changing what companies the fund can invest in. change in investment objectives aligned to a low-carbon economy, change to benchmark, change to some fund names within the range. No immediate action required.
    June 2019 Aviva Investors Multi Strategy Target Income Fund, Aviva Investors UK Equity Income Fund, Aviva Investors High Yield Change to Investment Objectives   "We are changing the way we describe the investment policy of our funds. This is not a change to the way the funds are run, it is just designed to make the funds' aims and strategies clearer. The new investment policy wording better describes the funds' overall strategy and the types of investment the manager will look for. The overall investment objectives are nearly always long-term, meaning fund performance should be judged over five years or more." No immediate action required.
    June 2019 M&G (whole of Fund Range) Charging structure   "With the exception of our property funds, we are combining all the charges that make up the current Ongoing Charge Figure (OCF) into a single annual charge. Only exceptional items such as unforeseen legal and tax expenses, also known as extraordinary expenses, will be excluded from the annual charge. If you are invested in the M&G Property Portfolio of the M&G Feeder of Property Portfolio, the annual charge will only contain costs of running the fund, Expenses related to managing the properties within the fund will be disclosed separately. This does not change the overall amount you pay to invest n the fund, but it will help you to compare costs more easily with other property funds." No immediate action required.
    June 2019 Columbia Threadneedle UK Corporate Bond Change to Investment Objectives   "We are making some changes to the wording of the objective and policy of the Fund to allow the Fund to invest more broadly sterling denominated bonds and provide more details and clarity of how the Fund is invested.

The new objective policy reflect that the Fund invests mainly in investment grade sterling denominated corporate bonds issued by UK companies and non-UK companies, and corporate bonds issued in other currencies that have been hedged back to sterling. the Fund already holds some investments in countries worldwide, and this revised description has the effect of allowing the Fund to hold a greater proportion of bonds from issuers outside of the UK and Europe, if is considered appropriate.

The Fund has also changed its name to Corporate Bond Fund."
No immediate action required.
    June 2019 Jupiter Unit Trust Managers Change to Investment Objectives   "Analysis carried out by the UK regulator, the Financial Conduct Authority, on the asset management industry has identified that generally the drafting of fund investment objectives and policies could be improved to enable investors to make better informed decisions in relation to the funds in which they choose to invest Jupiter has therefore taken the opportunity to review the investment objectives and policies of all of the following funds so that investors can better understand what each Fund is aiming to do: Jupiter Distribution and Growth Fund, Jupiter Distribution Fund, Jupiter European Fund, Jupiter Fund of Investment Trusts, Jupiter Global Managed Fund, Jupiter Income Trust, Jupiter Merlin Balanced Portfolio, Jupiter Merlin Growth Portfolio, Jupiter Merlin Income Portfolio, Jupiter Merlin Worldwide Portfolio, Jupiter UK growth Fund. "  No immediate action required.
     May 2019 Vanguard Fund Range Mandatory Redemption Threshold   "It is proposed to change the mandatory redemption threshold in respect of the Funds (as listed above) from US$15 million or its equivalent in another currency to US$100 million or its equivalent in another currency…

"Fund Threshold: The company may redeem all the Shares of a Fund if its Net Asset Value falls below US $100 million or its equivalent in another currency. The Cash Redemption Fee will apply to all such redemptions, unless the Manager determines otherwise."
No immediate action required.
    May 2019  JO Hambro UK Equity Income Corporate Restructuring   Important changes to J O Hambro Capital Management UK Umbrella Fund: 

The changes are: 
Change of the authorised corporate director (the ACD), which is the entity responsible for the day to day operation of the Company;

Appointment of the investment manager; and 

Change to the allocation (but not amount) of the fees and expenses currently payable to the existing ACD such that those fees amd expenses currently payable to the existing ACD will be allocated between the new ACD and the investment manager.
 No immediate action required.
     April 2019 City Financial Absolute Equity fund Change to company and fund name   City Financial has retired as the ACD of the Company in favour of Valu-Trac Investment Management Ltd (VT). 

VT has replaced City Financial as the company's investment manager. VT has appointed Garraway Capital Management LLP to act as the new investment manager. 

As a result of the change from City Financial to VT, the company will be renamed VT Investment Funds. 

As a result of the change from City Financial to VT, the sub-Fund will be renamed VT Garraway Absolute Equity Fund.
No immediate action required.
     April 2019 Time Investments Reduction in charges   "The deferred Annual Management Fee will reduce. The maximum deferred Annual Management Fee for TIME:Advance will reduce from 0.75% to 0.5% per annum on any growth in the portfolio above 3.5% per annum. 

In line with TIME:Advance, the deferred Annual Management Fee will also reduce for TIME:CTC from 1% (plus VAT) to 0.5% (inclusive of VAT) per annum on any growth in the portfolio above 3.5% per annum.

From 8 April 2019 the annual target return will change to a range of between 3% and 4.5% on the net amount invested after fees and costs."
No immediate action required.
     April 2019 Royal London Ethical Bond Fund and Royal London Short Duration Credit Fund Fund Merger   The Royal London Bond Funds ICVC will merge to form the Royal London Bond Funds II ICVC. The merger will affect the Royal London Ethical Bond Fund and the Royal London Short Duration Credit Fund. No immediate action required.
     April 2019 Baillie Gifford Strategic Bond Fund Use of Credit Default Swaps   "With effect from 13 May 2019, we wish to broaden our use of derivatives and make use of an additional derivative type, namely credit default swaps. This wider use of derivatives will allow us to construct portfolios which more accurately and efficiently reflect our investment views and to better hedge against unwanted risk." No immediate action required.
    April 2019 Various Vanguard Funds Change to Pricing Policy and Swing Pricing   "The pricing of shares in each sub-fund of the Company (the Fund) is, and will continue to be, carried out on a single pricing basis. This means that a single price is applied to any transaction, regardless of whether an investor is purchasing or redeeming shares. The single price is based on the valuation provisions in respect of the underlying investments less liabilities i.e. the net asset value (NAV)."

"Following a review of the Swing Pricing Policy, it has been decided to amend the policy through the introduction of cash flow thresholds which need to be reached in order to apply Swing Pricing. This means that if the net cash flow into or out of a Fund on a dealing day is below the relevant Swing Threshold for that Fund, Swing Pricing will not be applied."
No immediate action required.
    March 2019 Standard Life Inv Global Index Linked Bond  Reduction in the AMC and OCF of the Fund   Effective as of 1st March 2019, there will be a reduction in the Annual Management Charge and Ongoing Charges Figure for the following funds: UK Gilt, Global Index Linked Bond, Short Duration Global Index Linked Bond, Short Dated Corporate Bond Fund.  No immediate action required.
    March 2019 Merian Gold & Silver, Merian Global Equity Absolute Return Appointment of new management company   "The Company is authorised by the Central Bank of Ireland as a UCITS umbrella fund with segregated liability between sub-funds and is established as an open-ended investment company incorporated within limited liability under laws of Ireland. 

The effective date is 22/03/2019, from which point the Company will become an externally management investment company and will cease to operate as a self-managed investment company. 

We are writing to you, as a shareholder of the Company, to notify you of the proposed appointment of the Merian Global investors (Europe) Limited (the "Manager") as the UCITS management company of the Company. 

The rationale for the Proposed Appointment is primarily to ensure that the Company has an EU domiciled fund management company, post Brexit, so the Funds of the Company can continue to be marketed within the EEA. It is expected that once the Proposed Appointment has taken effect the Funds of the Company can continue to be marketed within the EEA on a cross-border basis by the Manager."
No immediate action required.
    March 2019 Legg Mason Western Asset Macro Opportunities Bond Fund Appointment of new management company   "The appointment of Legg Mason Investments (Ireland) Limited (LMI Ireland) as the management company of the Company, effective from the Effective Date (as defined below). LMI Ireland is authorised by the Central Bank to act as management company for Undertakings for Collective Investment in Transferable Securities (UCITS) such as the Company. LMI Ireland will be responsible for carrying out the investment management, administration and distributions functions of the company. With the appointment of LMI Ireland as management company, Legg Mason Investments (Europe) Limited will no longer act as Investment Manager." No immediate action required.
    March 2019 BMO MM Navigation Distribution  Change in Pricing Policy   Below outlines the change to the pricing method and the fund managers reasoning for this:

"The price of shares in each Fund is currently calculated on a dual pricing basis. This means that two share prices are calculated each day:

1. the “offer” price (sometimes known as the “purchase” price), which is applied when shares are purchased by investors; and
2. the “bid” price (sometimes known as the “redemption” price), which is applied when shares are redeemed by investors.

From the Effective Date, the price of shares in the Funds will be calculated on a single pricing basis so that one price is applied to any transaction in shares whether the investor is purchasing or redeeming shares."

"The switch to single pricing will provide a greater level of simplicity to investors purchasing and/or redeeming shares at a particular valuation point as the price of a share will be the same for both sets of investors."
No immediate action required.
    March 2019 City Financial absolute Equity Fund Institutional Fund suspension   The purpose of the communication is to inform unitholders in the City Financial Absolute Equity Fund of the temporary suspension of dealings in units of the fund. This decision was made in the best interests of investors in the fund. 

The exceptional circumstances which led to this decision was that the directors of City Financial filed a notice of intention to appoint an administrator, as part of a process through which it is working with an advisory firm to review the options available to the business. The filing of the notice was subsequently reported in the press on 26 February, but that does not mean that City Financial are in administration. 

Although City Financials status has no direct impact on the Fund, the circumstances described above resulted in a significantly increased level of client redemptions. The Fund was able to fulfil redemptions received from 26 February to 1 March, as a result of the sale of underlying securities within the fund. However, on Monday 4 March, redemptions reached a level where the Authorised Corporate Director (ACD) believed the Fund would not be able to fulfil such redemptions without causing significant loss of value to both redeeming and remaining investors.
No immediate action required.
    March 2019 Janus Henderson Global Equity Fund  Change in Pricing Policy   The Company is authorised by the Central Bank of Ireland as a UCITS umbrella fund with segregated liability between sub-funds and is established as an open-ended investment company incorporated within limited liability under laws of Ireland. 

The effective date is 22/03/2019, from which point the Company will become an externally management investment company and will cease to operate as a self-managed investment company. 

We are writing to you, as a shareholder of the Company, to notify you of the proposed appointment of the Merian Global investors (Europe) Limited (the "Manager") as the UCITS management company of the Company. 

The rationale for the Proposed Appointment is primarily to ensure that the Company has an EU domiciled fund management company, post Brexit, so the Funds of the Company can continue to be marketed within the EEA. It is expected that once the Proposed Appointment has taken effect the Funds of the Company can continue to be marketed within the EEA on a cross-border basis by the Manager."
No immediate action required.
    March 2019 Commercial Long Income PAIF  Exchange of shares    "We are pleased to confirm that on 22 March 2019 Shareholder consent to exchange shares in CFF for equivalent shares in a new FCA authorised fund, Commercial Long Income PAIF (“CLIP”) was over 97% approved by shareholders who returned a Form of Election. 


The Effective Date of the changes will be 1 April 2019. A contract note will be sent to Shareholders to confirm the issue of equivalent shares in CLIP to precisely mirror their current holding in CFF. 

Please note that in the first week in April shares in CFF may be subscribed or redeemed on a daily basis, as normal, up to 29 March 2019. From 1 April 2019 onwards, shares in CLIP may be subscribed or redeemed on a daily basis.


Similar proposals were also approved by Unitholders in CFF’s dedicated feeder trust, Commercial Freehold Feeder Trust (“CFFT”) unanimously and therefore Units in CFFT will be transferred to CLIP’s new dedicated feeder trust, Commercial Long Income Feeder Trust (“CLIFT”) on 1 April 2019."
 No immediate action required.
    March 2019 M&G Optimal Income Fund Sterling Classes Merging Funds   "I am writing to you as an investor in one or more of the Merging Share Classes of the Merging Funds to tell you about our plans to merge them into corresponding share classes as SICAV.

Given the uncertainty of Brexit M&G is… "taking action to ensure that European investors from outside the UK who wish to remain invested in M&G fund strategies after the UK leaves the EU will still be able to do so, regardless of the outcome of these negotiations. After careful consideration of all the options, and having listened to feedback from our clients, we believe that the mergers are the most robust way of ensuring investors from outside the UK have continued access to these investment strategies through UCITS-qualifying funds."
 No immediate action required.
    March 2019 Janus Henderson UK Property PAIF Change in Pricing Policy   The Funds will change from being dual priced on a quoted-spread basis to being dual priced on a full-spread basis, with effect from 25 March 2019.  No immediate action required.
    February 2019 M&G Recovery Fund Update to the Investment Objective   The fund changes have been made to provide further clarity in the investment objective of the fund. The changes do not effect the way the fund is managed.  No immediate action required.
    February 2019 BMO MM Navigator Distribution Change in Pricing Policy   Below outlines the change to the pricing method and the fund managers reasoning for this:

"The price of shares in each Fund is currently calculated on a dual pricing basis. This means that two share prices are calculated each day:

1. the “offer” price (sometimes known as the “purchase” price), which is applied when shares are purchased by investors; and
2. the “bid” price (sometimes known as the “redemption” price), which is applied when shares are redeemed by investors.

From the Effective Date, the price of shares in the Funds will be calculated on a single pricing basis so that one price is applied to any transaction in shares whether the investor is purchasing or redeeming shares."

"The switch to single pricing will provide a greater level of simplicity to investors purchasing and/or redeeming shares at a particular valuation point as the price of a share will be the same for both sets of investors."
 No immediate action required.
    February 2019 Marlborough Global Bond Fund Change in Pricing Policy   Below outlines the change to the pricing method and the fund managers reasoning for this:

"The price of shares in each Fund is currently calculated on a dual pricing basis. This means that two share prices are calculated each day:

1. the “offer” price (sometimes known as the “purchase” price), which is applied when shares are purchased by investors; and
2. the “bid” price (sometimes known as the “redemption” price), which is applied when shares are redeemed by investors.

From the Effective Date, the price of shares in the Funds will be calculated on a single pricing basis so that one price is applied to any transaction in shares whether the investor is purchasing or redeeming shares."

"The switch to single pricing will provide a greater level of simplicity to investors purchasing and/or redeeming shares at a particular valuation point as the price of a share will be the same for both sets of investors."
 No immediate action required.
    February 2019 Janus Henderson UK Property PAIF Feeder Fund Change in Pricing Approach   The pricing approach for Janus Henderson UK Property PAIF and the Janus Henderson UK PAIF Feeder Fund.

Effective from 25 March 2019, the Funds will change from being dual priced on a quoted-spread basis to being dual priced on a full-spread basis.

Dual priced on a quoted basis means a separate buying (quoted offer) price and selling (quoted bid) price are set with a narrower spread than the full spread. The basis for these prices varies depending on supply and demand for the shares/units of the Funds. Dual priced on a full-spread basis means that the spread is more stable and fully reflects the costs of buying and selling properties.

The change in the pricing approach will also result in a reduction of the initial charge for A class shares from 5% to zero."
 No immediate action required.
    February 2019 Merian Strategic Absolute Fund Appointment of new management company   "The Company is authorised by the Central Bank of Ireland as a UCITS umbrella fund with segregated liability between sub-funds and is established as an open-ended investment company incorporated within limited liability under laws of Ireland.

The effective date is 22/03/2019, from which point the Company will become an externally management investment company and will cease to operate as a self-managed investment company."

We are writing to you, as a shareholder of the Company, to notify you of the proposed appointment of the Merian Global investors (Europe) Limited (the "Manager") as the UCITS management company of the Company.

The rationale for the Proposed Appointment is primarily to ensure that the Company has an EU domiciled fund management company, post Brexit, so the Funds of the Company can continue to be marketed within the EEA. It is expected that once the Proposed Appointment has taken effect the Funds of the Company can continue to be marketed within the EEA on a cross-border basis by the Manager."
 No immediate action required.
    February 2019 Fidelity Wealth Builder Fund Fund Merger   "Fidelity are proposing to merge the assets of the following funds: Fidelity Multi Asset Defensive Fund, Fidelity Multi Asset Strategic Fund, Fidelity Multi Asset Growth Fund, Fidelity Multi Asset Adventurous Fund, Fidelity Wealth builder Fund into the Fidelity Multi Asset Open fund range.

In light of the changes to the investment policies of the Fidelity Multi Asset fund range made earlier in the year, each of the give Fidelity Multi Asset funds now have very similar holdings to its equivalent fund within the Fidelity Multi Asset Open fund range and the ongoing charges are either identical or comparable. Given the similarity of the investment policies, the portfolio manager's investment allocation decisions across the two ranges are also closely aligned.

We believe that it would be beneficial for Shareholders to merge the assets of each of the Multi Asset Funds into its corresponding fund within the Multi Asset Open Fund range. If the mergers are approved, the increased size of the funds in the Fidelity Multi Asset Open fund range will enable us to pass on a reduction in the on-going charges for investment in the funds.

we are proposing to merge the A share classes of the Multi Asset Funds into their equivalent A share class in the Multi Asset Open fund range, and to merge the Y and N share classes of the Multi Asset funds into the N share classes. Investors in the Y share classes can therefore also benefit from an annual management charge reduction of 25 basis points. At the end of the first quarter of 2019 the N share classes will then be renamed as W shares."
 No immediate action required.
    January 2019 Orbis Global Balanced Update to the Investment Objective   The fund changes have been made to provide further clarity in the investment objective of the fund. The changes do not affect the way the fund is managed. No immediate action required.
    January 2019 Artemis US Extended Alpha Change to Admin Fee Structure   Artemis will no longer be charging variable ongoing costs to their funds in order to cover the additional expenses. They will instead be applying a fixed administration fee. This fee has been introduced in order to provide a much clearer charging structure for investing in their funds.

The fee may increase the current OCF of some of their funds, but in some cases it may reduce them. If the administration fee is greater than the actual expenses of the fund (excluding the annual management charge) then it will be retained by Artemis. On the other hand if there is a shortfall between the fund expenses and the administration fee then Artemis will cover this.
This change has been introduced to provide further clarity on the cost of investing in the Artemis fund range. Although the effect of this change has led to an increase in the OCF of the Artemis US extended alpha fund, we feel the fund is still fit for purpose in our preferred portfolio's.
    January 2019 Janus Henderson Global Equity Change in Pricing Policy   Below outlines the change to the pricing method and the fund managers reasoning for this:

"We currently calculate and publish two prices for each fund:
- The offer price (sometimes known as the purchase price), which is the price at which you are able to buy units; and
- The bid price (sometimes known as the redemption price), which is the price at which you are able to sell units.

The difference between the bid and offer prices is known as the “bid/offer spread”. From 18 March 2019, we will no longer publish two prices. Instead, a single (mid) price will be calculated each day and applied to purchases and sales of units alike.

The asset valuation process underpinning the single price will remain the same as it is currently. Using a single price should make buying or selling units simpler to understand, as the same price will apply no matter whether you are buying or selling."
No immediate action required.
    December 2018 Vanguard Global Value Factor UCITS ETF Name Change   Vanguard Global Value Factor UCITS ETF, will change name to Vanguard Global Value Factor UCITS (USD) Accumulating. This change will become effective on 03 December 2018. No immediate action required
    December 2018 Guinness Global Equity Income Fund OCF Increase   The Z share class's OCF will increase from 0.71% to 0.72%. The administration fee and investment management fee are being merged together to create a single fee paid to the investment manager called the 'management fee'. No immediate action required
    December 2018 MI TwentyFour Monument Bond Fund AMC Reduction   The AMC will be reduced for the I share class from 0.75% to 0.60%. The L share class will be reduced from 0.5% to 0.35%. This will affective on the 7th of Jan 2019. No immediate action required
    December 2018 Rathbone Ethical Bond Fund and Rathbone Global Opportunities Fund Pricing Change   The fund is changing from dual pricing to single pricing. No immediate action required
    November 2018 Aberdeen Asian Smaller Companies Inv Trust Plc Ordinary Shares Name Change   We have been advised of a change of name to Aberdeen Standard Asia Focus Plc Ordinary Shares GBP 0.25, effective 12 November 2018. No immediate action required
    November 2018 Coram Global Balanced Fund Name Change   We have been advised of a change of name to Optimal Multi Asset Balanced Fund. No immediate action required
    October 2018 M&G Non-Sterling Classes fund range A temporary Suspension to the Funds   There will be a temporary suspension of all the non-sterling classes. This is to facilitate the transfer of all non-Sterling Classes to Luxembourg SICAV equivalents. The suspension of the transferring funds will take place over several weekends in December 2018. No immediate action required
    October 2018 F&C fund range  Name Change   There will be a change of name for F&C funds as they have now been acquired by BMO and therefore the existing funds will now start with 'BMO'. No immediate action required
    October 2018 F&C MM Navigator Distribution Fund Amendment to the investment objective and investment policy   The FCA has advised that the phrase 'total return' is not accurate so it will no longer be used in the funds objectives. This will not affect the way in which the fund is managed. These changes will become effective on 12 November 2018. No immediate action required
    October 2018 Artemis Strategic Assets Fund Amendment to the investment objective and investment policy   There are some minor amendments to the investment objective and investment policy of the Fund. This change will become effective on 12 November 2018. No immediate action required
    October 2018 Premier Defensive Growth Fund Decrease in the OCF   A decrease in the OCF from 0.85% to 0.84% for C Class Shares. This change became effective on 31 May 2018. No immediate action required
    October 2018 Investec Asia Ex Japan Fund Name Change   Investec Asia Ex Japan Fund will be changing name to the Investec Asia Pacific Franchise Fund. This change will be effective as of 07/09/2018. No immediate action required
    October 2018 Rathbone Blue Chip Income and Growth Fund and the Rathbone Income Fund Fund Merger   Merge of the Rathbone Blue Chip Income and Growth Fund into the Rathbone Income Fund. No immediate action required
    October 2018 Invesco Name Change   Invesco removed perpetual from the name and added 'UK' to some of the funds. No immediate action required
    October 2018 Investec American Fund Name Change   The Investec American Fund will be changing name to the Investec American Franchise Fund. No immediate action required
    October 2018 Newton Multi-Asset Diversified Return Fund IA Sector Update - Newton Multi-Asset Diversified Return Fund   Newton Multi-Asset Diversified Return Fund that is effective 15/10/2018. Following a review Newton Investment Management Limited have decided to update the IA Sector of the Fund from ‘Specialist’ to ‘Targeted Absolute Return'. No immediate action required
    October 2018 Threadneedle Credit Opps I Net GBP Fund Merger   Threadneedle are planning to undertake cross-border mergers for various funds into their equivalent fund within the Luxembourg fund range. They plan to merge the below funds, effective 20/10/2018. We will close the donor funds to buys and sells on 09/10/2018. Threadneedle Credit Opps I Net GBP merging into Threadneedle (Lux) - Credit Opportunities 8GH No immediate action required
    October 2018 HSBC Open Global Distribution Fund Name Change   HSBC will change the name of their Open Global Distribution Fund. The fund will be renamed the HSBC World Selection Dividend Distribution Portfolio. HSBC have also confirmed that for all share classes there will be a reduction in the ongoing charges in the medium to long term. No immediate action required
    October 2018 JPM Global Macro Balanced Fund Name Change   JPM, effective 31/10/2018, will rename the JPM Global Macro Balanced Fund to JPM Global Macro Fund. There will also be some updates to the Fund’s Investment Objective and Policy. No immediate action required
    September 2018 Premier Multi Asset Monthly Income Reduction in OCF   There is a reduction in the OCF of the fund from 1.60% to 1.56%. No immediate action required
    September 2018 Old Mutual Fund Range Name Change   Old Mutual" have rebranded to the new trading name "Merian".  This change does not affect the management of the funds. No immediate action required 
    July 2018 LF Lindsell Train UK Equity Fund Change in Rebate Calculation   Investors in the Income and Accumulation share classes are currently eligible to a rebate paid by Lindsell Train.

Following a review of the Rebate process it was determined, by Lindsell Train, that the above share classes only receive a rebate based on the value of the fund held by those share classes and not the value of the fund as a whole.

This change will result in an increase in the OCF of 0.01%.
No Immediate action required
    July 2018 M&G Episode Allocation Fund Change in Investment Objective   The change is to provide a clear explanation of what the Fund sets out to do, how it is managed and makes it easier for the investor to determine whether it has achieved its aim.

This change does not effect the way the fund is managed.
No Immediate action required
    July 2018 Liontrust Special Situations Introduction of a Fixed Administration Fee   The introduction of the Fixed Administration Fee (FAF) will provide the Investor with greater certainty about the level of costs an investor will face going forward. The introduction will also bring the fund in line with what is considered to be best practice in the fund management Industry. The FAF will be covering the ongoing operating costs within the fund.

Going forward the OCF will include the new FAF and AMC.

This introduction will increase the OCF of the fund by 0.01%.
No Immediate action required
    July 2018 Schroder Recovery Change to Single Pricing   "The pricing of the units is currently carried out on a dual pricing basis. This means that each day we calculate an "offer" price which is used when investors buy units and a "bid" price which is used when investors sell units. The difference between the buying and selling price of a unit is called the bid/offer spread. The bid/offer spread represents the transaction costs, including taxes and dealing charges, incurred when dealing in the securities that make up the Fund's underlying assets.

From 17 September 2018 (the Effective Date), the pricing of units in the Funds will be based on a single mid-market price. The mid-market price is based on the mid-point between the buying and selling prices of the fund's assets.

Switching to single pricing will provide greater simplicity for investors, as the price will be the same whether buying or selling units. The change also brings your fund in line with the rest of Schroders' UK fund range which already operate on a single pricing basis."
No Immediate action required
    June 2018 Aviva Funds Introduction of a Fund Management Fee   "In order to simplify the way in which charges are applied, and to have a fairer charging model across our fund range we are going to apply a single charge to each fund. This will cover the underlying fees, costs and expenses which are currently paid by the funds in relation to their operation and administration. We call this single charge the Fund Management Fee.

We will still continue to disclose the Ongoing Charges Figure (OCF) to represent the ongoing costs of managing a Fund. So this will be the figure which you will see in the key investor information document of each fund and which you may also see our distributors using to reflect charges. For most funds the FMF will now be the same as the OCF."
No Immediate action required
    June 2018 T. Rowe Price Funds SICAV Frontier Markets Equity Change in benchmark   "There will be a change of Benchmark from MSCI Frontier Market Index Gross to MSCI Frontier Market Index Net, effective 1 July 2018." No Immediate action required
    June 2018 L&G Dynamic Bond Trust  Change in Investment Philosophy and Name    "We wish to clarify the investment policy, in particular to remove the term "unconstrained". The word "unconstrained" had been used in the policy to indicate that the fund uses derivatives to synthetically change the characteristics of the bonds in order to protect the Fund against certain
risks, such as credit risk. We have decided to remove the word "unconstrained" and instead explain what is meant by that term in the policy.

We will be changing the way the fund manages its currency exposure. The current Investment Policy states that 90% of non-Sterling denominated holdings will be hedged to Sterling. In future, the fund will have a net exposure of 80% of its net asset value (NAV) to Sterling. The manager intends to manage currency exposure to seek investment returns as well as for the purpose of hedging overseas bonds. We've also removed the reference to the Fund investing in cash up to 100% as this isn't consistent with the investment objective of the Fund.

At the same time, the name of the Fund will change from 'Legal & General Dynamic Bond Trust' to 'Legal & General Dynamic Bond Fund'. We intend to change the names of all of our 'Trusts' to 'Funds' over time to ensure consistency across our fund ranges."
No Immediate action required
    June 2018 Old Mutual Absolute Return Government Bond Fund Fund Merger   "We have been advised that Old Mutual Global Investors Series II ICAV are proposing to merge the Old Mutual Absolute Return Government Bond Fund (the "Merging Fund") into the Old Mutual Strategic Absolute Return Bond Fund (the "Receiving Fund"), subject to shareholder approval at a meeting to be held on 12 July 2018. If approved, the proposed effective date of the merger is scheduled to take place on 27 July 2018.

The Receiving Fund was converted to an absolute return fund in May 2017 with the same investment objective as the Merging Fund, and a broadly similar investment policy to invest mainly in global government bond markets. However, the funds employ different investment processes to achieve the objective, with the Receiving Fund investing in a broader investment universe with lower levels of leverage. In addition, the Merging Fund is operated from a separate administration platform to the rest of the Investment Manager's range.

The Investment Manager believes that by merging the Merging Fund into the Receiving Fund, Shareholders will be able to retain exposure to an absolute return global bond strategy delivered via a more diversified investment approach. In addition, they will benefit from the lower annual management fees and performance fee rates that apply to the Receiving Fund."
We will be communicating to you directly.
    June 2018 Artemis UK Special Situations Fund, Artemis Strategic Bond Fund, Artemis High Income Fund, Artemis Global Income Fund     Artemis have removed the Initial charge from these funds. No Immediate action required
    June 2018 Smith & Williamson Change to Dilution Adjustment Policy   "We have received a notification from Smith & Williamson stating that the below funds will be changing from a Dilution Levy Policy to applying a Dilution Adjustment policy – also known as Swing Pricing. This change is subject to FCA approval, with a proposed expected date of 10/06/2018." No Immediate action required
    June 2018 Fidelity Multi Asset Funds Fidelity Multi Asset Funds OCF Change   "Revised investment policies will take effect from 20 June 2018. They will allow the portfolio manager of the Fidelity Multi Asset fund range to invest more than 65% in Fidelity funds (within an Irish UCITS fund, Fidelity Common Contractual Fund II) that use the experience and specialisms of a number of investment management companies (which may include Fidelity) to select the underlying assets... As a result of these changes, the OCF of the underlying Multi Asset funds will increase by 0.28%. The OCF for the underlying Wealth builder funds will increase by 0.25%" No Immediate action required
     June 2018 Neptune Funds Neptune Funds Distribution Changes   "We have received a notification from Neptune that the distribution frequency for the Accumulation Share classes will be reduced to annually, effective 30.06.2018, with this change also leading to a reduction in OCF in the future. However, the Fund Manager is unable to provide the exact changes at this point in time." No Immediate action required
    May 2018 Baillie Gifford Corporate Bond Name Change & Change to Investment Objective and Policy   "There has been a change of name to Baillie Gifford Strategic Bond Fund and a change to the investment objective and investment policy."

"We consider that the new name more accurately reflects the way in which the Fund is managed, taking into account the current industry fund sector classifications."

"We have decided to update the wording of the investment objective and policy of the Fund in order to more clearly explain the way that the Fund invests. The changes will not alter the risk or return profile of the Fund and the Fund will continue to be managed with the same investment approach and style."
No Immediate action required
    May 2018 Aberdeen Asian Smaller Companies Investment Trust Open Offer   "We have been advised of an Open Offer for Aberdeen Asian Smaller Companies Inv Trust Plc Ordinary Shares 25p. Holders on the Register as at 18 April 2018 will be able to participate under the following terms:

(If a client chooses to convert) For every 1 existing Ordinary Share, clients will receive 0.29227324 of Aberdeen Asian Smaller Convertible Unsecured Loan Stock 2.25% held at GBP1.00 per share.

Shareholders can also apply for new Convertible Unsecured Loan Stock 2.25% in excess of their pro rata entitlements. Excess applications will only be satisfied to the extent that other holders do not take up their basic entitlement."

If clients do not exercise their option to convert then they will retain their ordinary shares, this is also the default option for no responses.
 No Immediate action required
    March 2018 MI Miton Cautious Monthly Income Fund Introduction of Research Payment Account   Under the new rules, where an investment manager buys research from third parties it must do so either from an account funded by its clients that is ring-fenced for use only to pay for investment research (a "Research Payment Account") or from its own funds. Where the investment manager charges its clients it is subject to a number of enhanced requirements and disclosures.

The Investment Manager considers that investment research is fundamental in formulating its investment strategies and enabling it to make better informed decisions and has determined that it will charge its clients for the investment research it uses. We are required to give not less than 60 days' prior notice of this change which will accordingly take effect on 2nd April 2018 (the "Effective Date"). From the Effective Date, the Fund will pay towards the cost of such research.

The new ongoing charges figure for the funds share classes will be as follows: A Share Class - 1.61% (increased from 1.60%) & B Share Class 0.86% (Increased from 0.85%).
No Immediate action required
    March  2018 JPM Emerging Markets and JPM US Select Funds Fund Merger   JPMorgan Funds Limited have advised that they propose to merge the JPM Emerging Europe Equity Fund and the JPM US Fund with the JPM Emerging Markets Fund and the JPM US Select Fund respectively. The Discontinuing and Continuing Funds have overlapping investment strategies and JPM wishes to continue to offer the strategy followed by the Continuing Funds as it believes they have better prospects for future growth. No Immediate action required
    February 2018 BlackRock Gold & General Change in Investment Objective and Policy   Blackrock are expanding their use of derivatives. Previously derivatives have only been used for efficient portfolio management purposes only however following the change they will now be allowed for investment purposes. No Immediate action required
    February 2018 JPM Funds (JPM US Equity Income) Capped Fixed Expenses fee reduction   JPM have replaced the Fixed expenses rate with a lower Capped Operating Expense rate. This has resulted in a reduction in Expense rate from 0.18% to 0.15%.  No Immediate action required
    January 2018 Capita Asset Services Fund Administrators Name Change   Following the Acquisition of Capita Asset Services by link Group several funds with the prefix 'CF' will now start with the prefix 'LF'. No Immediate action required
    January 2018 Fidelity Strategic Bond Fund Fund Conversion   Shareholders will have their holding converted from the Gross paying share class into the non-Gross paying share class. No Immediate action required
    January 2018 Jupiter Strategic Bond Change to pricing policy   The pricing of units in the Fund will be carried out on a single pricing basis so that a single price is applied to any transaction in units whether the investor is purchasing or redeeming units. The single price is based on the mid-market valuation of the underlying investments plus other assets less liabilities, which is the net asset value of the Fund (the "NAV"). The NAV is calculated in accordance with the FCA Rules, the Trust Deeds of the Funds and the Scheme Particulars of the Funds. The price of a unit is the NAV of the Fund in question divided by the number of units of the relevant class in issue adjusted by any dilution adjustment. This has the effect that, subject to any initial charge, both the purchase and redemption price of a unit will be the same at a particular valuation point. Initial charges will not be levied by the Manager. Please note that the above single pricing policy is already in place for Jupiter Strategic Reserve Fund, however initial charges will not be levied. No Immediate action required
    January 2018 F&C Responsible UK Income Fund  Change to Investment Objective and Policy    The fund's current investment objective states that the aim of the fund is to achieve "an above average and increasing income, with the prospect of capital growth". The emphasis of the fund will still be on the provision of income returns and we still aim to provide capital growth. However, given the structure and investments of the fund, we do not think it is appropriate to refer to "above average and increasing" income.

This does not represent a change in the way in which the fund will be managed but is intended to be a more accurate reflection of what the fund can realistically achieve given its existing policy and strategy.
No Immediate action required
    January 2018 Guinness Global Equity Income Fund Introduction of Research Payment Account   Whilst it is not the current intention of the investment manager to charge research costs to the relevant sub-funds of the fund, the prospectus for the fund and the supplements for each of the sub-funds of the fund have been updated to provide for the ability to pay research costs out of the assets of the relevant sub-funds up to a maximum of 0.10% of the Net Asset Value of the relevant sub-fund.

If and when research costs are to be charged to the relevant sub-funds of the fund, payment for the research will be made from an account funded by the Fund, which will be ring-fenced for use only to pay for investment research (research payment account). The total amount of the research charge borne by the fund for the relevant accounting period will be reported in the Fund's annual report and accounts.
No Immediate action required.
    January 2018 CF Miton Cautious Multi Asset Fund  Introduction of Research Payment Account   The Investment Manager considers that investment research is fundamental in formulating its investment strategies and enabling it to make better informed decisions and has determined that it will charge its clients for the investment research it uses. After due consideration, the ACD has agreed that from 29 January 2018 each Sub-fund will pay towards the cost of such research. No Immediate action required
    January 2018 Orbis Global Balanced - Income Change in benchmark   There has been a change to the benchmark of the Fund so as to 'hedge' the 40% Fixed Income portion of the benchmark. No Immediate action required
    December 2017 FP Argonaut Absolute Return Fund Introduction of Research Payment Account  

Under the provisions of the MiFID II Delegated Directive, investment managers for retail collective investment schemes such as the Funds, are required to allocate and separately identify the Fund's money used for investment research and disclose this to investors. Historically, payment for investment research has been administered by a "Commission sharing agreement" between Argonaut and providers of investment research whereby research costs were collected as part of the costs for the execution of the transactions paid to brokers. This will change under the Directive which comes into effect from the beginning of 2018. In order to comply with the requirements of the Directive to allocate and separately identify a specific research charge, the Fund's Investment Manager will be setting an annual budget for its purchase of research, establishing and operating a "Research Payment Account" from which providers of research will be paid; and funding the RPA from research charges that will be paid from the assets of the Fund.

The introduction of the RPA will not affect the OCF of the fund.
Further information about this change can be found in this quarters copy of the TPO Insight.

No Immediate action required.
    November 2017  Aberdeen Emerging Markets Bond Fund Class  Reduced cost    Aberdeen have notified us of a change of AMC for the Aberdeen Emerging Markets Bond Fund Class I shares, effective 01/11/2017. Aberdeen Emerging Markets Bond I Acc/Inc AMC changing from 1.00% to 0.75%. No Immediate action required
    November 2017  M&G Global Basics Fund Name Change   We have received notification from M&G that subject to approval from Shareholders the M&G Global Basics Fund will be renamed the M&G Global Themes Fund. No Immediate action required
    November 2017 TB Evenlode Income Reduced cost    We have received notification from T Bailey that the TB Evenlode Income Fund will be reducing its annual management charge (AMC) for the B and C Share classes as below: TB Evenlode Income B Inc/Acc - 0.95% to 0.90% TB Evenlode Income C Inc - 0.85% to 0.80%. This will have an effective date of 01/11/2017. No Immediate action required
    November 2017 Legal & General All Stocks Index Linked Gilt Index Trust Fund and Legal & General All Stock Gilt Index Trust Fund Change of share class    We have received notification from Legal & General that they will be moving all M class units into the I Class for both the Legal & General All Stocks Index Linked Gilt Index Trust Fund, and the Legal & General All Stock Gilt Index Trust Fund, effective 24/11/2017. No Immediate action required
    November 2017 Newton Global Income Fund Change of Investment objective and policy    The new investment objective and policy of the Sub-Fund will be to: "generate distributions over an annual period together with long-term capital growth from investing predominantly in global securities. The Sub-Fund may also invest in collective investment schemes (including but not limited to another Sub-Fund or Sub-Funds of the Company). Derivatives may be used for efficient portfolio management only".  The remainder of the investment objective and policy is not changing. No Immediate action required
    November 2017 Jupiter Merlin Balanced, Jupiter Global Managed, Jupiter European, Jupiter Japan income, Jupiter Absolute Return, Jupiter Merlin Worldwide, Jupiter UK Alpha Fund Change of Pricing   Rather than bid-offer pricing, the fund will move to single pricing. There will also be a change to the structure of certain funds with the introduction of a compulsory conversion power and new accumulation units for funds. No Immediate action required
    November 2017 FP CRUX European Special Situations Introduction of Research Payment Account   Under the provision of the MiFID II Delegated Directive ("the Directive"), Investment Managers for retail collective investments schemes will now be required to allocate and separately identify the money used for investment research and disclose this to investors. Historically, payment for investment research has been bundled as part of broker commissions but this will no longer be permitted under the Directive which comes into effect from the beginning of 2018. Instead, CRUX Asset Management Limited as the Investment Manager of the assets of each sub-fund (appointed by us as the Company's ACD) will be setting an annual budget for its purchase of research (the "RPA Budget"), establishing and operating a "Research Payment Account" ("RPA") from which providers of research will be paid; and funding the RPA from research charges ("Research Charges") that will be paid from the assets of the sub-funds."

It is anticipated that the introduction of the RPA will cause a minor increase to the Ongoing Charges Figure ("OCF") for the sub-funds. This estimated revised OCF for each share class is displayed in the table below."
Further information about this change can be found in this quarters copy of the TPO Insight.

No Immediate action required.
    November 2017 River and Mercantile UK Equity Smaller Companies Change to the OCF   There will be an increase in the OCF from 0.83% to 0.85% on 30th of January 2018. No Immediate action required
    November 2017 Old Mutual UK Mid Cap Fund Changes to Pricing and Charges   There will be a change from dual to single pricing, effective on 29 January 2018. From 1 March 2018 the fund intends to introduce a fixed charge, the 'Fixed Ongoing Charge'. This single figure will replace the existing annual management charge (AMC) and the administration costs of the Fund. This simplified fixed pricing model will provide greater clarity to investor with regards to the ongoing costs associated with investing in our funds.

There will be no change to the OCF.
No immediate action required. 
    November 2017 JPM UK Equity & Bond Income Fund Fund mergers   JP Morgan are planning to merge several of their funds, effective 16/12/2017. JPM Global Financials C Acc is merging into JPM Global Unconstrnd Equity C Acc. JPM UK Equity & Bond Income C Acc is merging into JPM UK Higher Income C Acc. JPM UK Equity & Bond Income C Inc is merging into JPM UK Higher Income C Inc. No immediate action required. 
    November 2017 Capita Asset Services  Acquisition and Name Change   Link Group has bought Capita Asset Services and has changed the name to LF from CF. No immediate action required. 
    October 2017 Schroder Global Real estate Securities Income Fund Name Change    Schroder Global Real Estate Securities Income Fund will be renamed Schroder Global Cities Real Estate Income Fund, effective from 02/10/2017.  No immediate action required. 
    October 2017 Fidelity W share class holdings Share Class Conversion and OCF Reduction    Fidelity plan to convert holdings from the W share class to the P share class. This is the cleaner of the two classes and benefits from a 0.02% reduction in the OCF. The conversions are taking place from 03/10/2017 to 06/10/2017. Fidelity are closing the W class to investment four business days prior to the conversion, so Novia will close the funds to buys and sells on 20/09/2017. Please note model portfolios will be impacted for this period until the corporate event has been processed, at which time model portfolios will be realigned to the receiving funds.  No immediate action required. 
    October 2017 Vanguard Emerging Markets Stock Index Change in Pricing Structure   The pricing structure will be changed from single to swing. This means that, where there are sales or purchases that exceed the threshold, the price will be adjusted to counteract the potential impact on the fund. This change is being made because 'Swing Pricing' is widely used throughout the fund industry and they believe it is a fair way of allocating the costs of dealing in the Fund's investments.  No immediate action required. 
    October 2017 Rathbone Recovery Fund Reduction in Charge and Name Change   The annual management charge (AMC) will be reduced from 0.75% to 0.45% as of 23/10/2017. The name of the fund will also change to Rathbone UK Opportunities.   No immediate action required. 
    October 2017 Schroder Tokyo Fund Name Change    The amendments aim to make the language used in the objective and policy consistent across Schroders' UK fund range." "There has been no change to how the Fund is managed and the wording change does not impact existing holdings. This change does not require unitholder approval and unitholders are not required to take any action. No immediate action required. 
    October 2017 Stewart Investors Asia Pacific Leader Fund Category Change   The fund is changing from Asia Pacific ex Japan category to the Specialist category. This will not change investment philosophy or investment process.  No immediate action required 
    September 2017 M&G Global Select Fund Change to investment objectives and policies of the fund   Changes are intended to clarify what the fund sets out to do and makes it easier for investors to determine whether they have achieved this. There will be no significant changes to the way funds are managed.  No immediate action required. 
    September 2017 Schroder Global Emerging Markets Fund
Schroder UK Opportunities Fund
Schroder European Alpha Income Fund
Change to investment objective and policy   The amendments aim to make the language used in the objective and policy consistent across Schroders' UK fund range. There is no change to how the fund is managed. The change will be in effect from 23/10/2017.  No immediate action required. 
    September 2017 JPM Asia A Acc  Name Change    JP Morgan have changed the name of the fund to JPM Asia Growth Fund as of 29/09/2017.  No immediate action required. 
    September 2017 Aberdeen Absolute Return Bond Fund  Name Change    We have been advised that Aberdeen intend to change the name of the Aberdeen Absolute Return Bond Fund to Aberdeen Target Return Bond Fund. This will be effective as of 22/09/2017. No change to the funds investment objective or risk profile will occur. No immediate action required. 
    August 2017 Baring Strategic Bond Fund Change to Investment objective and policy   The Investment objective and policy are being updated to better and more clearly explain how the Trust is managed. The changes do not affect how the Trust is managed of its risk profile.

The Dilution Adjustment policy of the Trust is being changed so that the price of the Trust may be swung where the aggregate net investor inflows or outflows exceed a pre-determined threshold (as determined from time to time by the Manager); and/or where in the opinion of the Manager that it is in the best interest of investors. This is change from the set limit of daily dealing exceeding 0.06% net outflows or net inflows.
No immediate action required.
    August 2017 Premier Multi Asset Monthly Income Fund Decrease in OCF   There has been a decrease in the OCF from 2.15% to 2.04% for the A class and from 1.40% to 1.29% for the C class. No immediate action required.
    August 2017 Premier Income Fund Decrease in OCF   There has been a decrease in OCF from 1.61% to 1.59% for Class A Shares, from 1.11% to 1.09% for Class B Shares and from 0.86% to 0.84% for Class C Shares. No immediate action required.
    August 2017 HSBC Index Tracker Funds Change to Investment Policy and Strategy   HSBC are changing the Investment policy and Strategy of their tracker funds to exclude investment in companies involved in certain controversial weapons as of the 8th September 2017.

We have identified those invested in the American Index Fund and Pacific Index Fund are affected by this change. The underlying securities are a relatively small proportion of the overall holdings of these funds and HSBC will be actively removing these holdings once the change comes in to affect.

The proceeds will be reallocated across the other holdings within the Funds.

No immediate action required.
    August 2017 Vanguard Emerging Markets Stock Index Fund Introduction of Dilution Adjustment Policy   Investors in the fund are currently protected from the effects of dilution by the ability, in certain circumstances, by making an additional charge (dilution levy) when an investor buys or sells a significant number of shares."

"Following a review of the options available to protect investors from the effects of dilution, it has been determined that a dilution adjustment should be applied to the NAV (I.e. swing pricing) in place of the current dilution mechanism.
No immediate action required.
    August 2017  CF Miton Cautious Multi Asset Fund Change in Investment and Borrowing Powers   Currently there is no limit on the amount that each Sub-fund of the Company can invest in other funds. From 2nd October there will be the introduction of a maximum limit of 10% for each sub fund."

"Previously the sub funds have not held more than 10% of their scheme property in other funds therefore this change will not alter the investment style or approach to managing the sub-funds of the company. The risk profile of the sub funds will also remain unchanged
No immediate action required.
    July 
2017
MFM Slater Growth Fund Name Change   We have been advised that the name of the fund will change to Slater Growth Fund as a result of a change to the Authorised Fund Manager. This will come into effect on 7 August 2017. No immediate action required.
    July 
2017
Fidelity Global Focus Fund Change in Investment Objectives   The new objective states that "The fund aims to hold between 40 and 60 stocks, with a bias towards medium-sized companies". At present, the fund can have from 80 to 120 investments, and the bias is towards large companies. The reduction in the number of stocks will take place gradually over the coming months and the fund's risk category is not expected to change. Having fewer investments in the portfolio will enable the fund manager, Amit Lodha, to be more focused in his choice of companies, and to concentrate the fund's assets on those investments in which he has the highest levels of conviction. At the same time, the bias towards medium-sized companies will give him a greater range of stocks to choose from. The overall aim is to increase the potential for investors to benefit from his strongest investment ideas. No immediate action required.
    July
2017
Aviva Investors Property Trust (Novia Platform) Conversion to PAIF/Feeder   The planned conversion of the Aviva Investors Property Trust to a PAIF has been rescheduled. It will now take place on 18/07/2017. Novia are unable to accommodate PAIFs due to their multiple income streams, Novia holdings will be converted to the linked Feeder Fund, Aviva Investors UK Property Feeder Fund. The first day of dealing in the Feeder funds will be 21/08/2017. Funds will be closed to buys and sells after trading on 10/08/2017. No immediate action required.
    June 2017 Blackrock Index trackers Name Change - Rebranding to iShares   We have been advised of a rebranding of all BlackRock passive investments into the iShares brand.

This includes the now iShares Pacific ex Japan Equity Index Fund (UK) and iShares UK Equity Index Fund (UK) . This will come into effect on 30 June 2017.
No immediate action required.
    June 2017 Kames Ethical Equity Fund Changes to Fund Investment Powers   "We are amending the investment powers of the fund to allow it to invest up to 10% of its assets in other Collective Investment Schemes. This capability will typically be used to allow any residual cash to be invested in a cash fund, allowing the fund to achieve greater counterparty diversification collectively than it could individually." No immediate action required.
    June 2017 Kames Corporate Bond Fund Changes to Fund Investment Powers   "We are amending the investment powers of the fund to allow it to invest up to 10% of its assets in other Collective Investment Schemes. This capability will typically be used to allow any residual cash to be invested in a cash fund, allowing the fund to achieve greater counterparty diversification collectively than it could individually."

"We are amending the prospectus to show that from 6 April 2017 all interest distributions made by the Kames Corporate Bond will be made gross. Income tax will no longer be deducted from the payment to you. It remains the responsibility of investors to ensure that all applicable income tax is paid to HMRC."
This change will affect all funds which produce income, whether distributed or reinvested. From the 6 April 2017 income payments be made at the higher Gross value.

This may result in a requirement for you to complete a self-assessment return from the 2017/18 tax year or alter the basis of your existing return.
    April 2017 M&G Episode Income Changes to Investment Objectives and Investment Policies   The new objective will specify that it aims to generate a growing level of income and 2-4% capital Growth.

The Fund will specify the proportion of the fund invested in (or hedged back to) Sterling, which is its valuation currency (the currency in which the fund is valued in and also used to report its accounting information). There will be no change to the funds hedging strategy, which is used to mitigate the impact on performance of exchange rate movements between the fund's currency exposure and the investors chosen currency.
This change is simply to provide more transparency on the funds investment objectives and policy. There will be no change to the way the funds are managed,. No immediate action required.
    April 2017  M&G Global Dividend Fund and M&G Pan European Dividend Fund Changes to Investment Objectives and Investment Policies   The new objectives will clearly and specifically define what each fund aims to deliver for its investors. The investment objective will now also include a market index as a point of reference against which to assess the fund's performance.

In the investment policy it will specify the minimum proportion of the portfolio invested in Global and European equities respectively.
This change is simply to provide more transparency on the funds investment objectives and policy. There will be no change to the way the funds are managed,. No immediate action required.
    April 2017  Newton Osprey Fund Fund Name and Custodian Change   The Fund is changing its name to the Osprey Fund. In addition it is also changing the fund's existing custodian from The Bank of New York Mellon to Citibank. The name and custody changes will not affect the way in which the Fund is managed or invested. No immediate action required.
    March 2017 Kames Sterling Corporate Bond & Kames Ethical Corporate Bond Change in tax treatment of distributions   "It was announced in the Budget of 16 March 2016 that provisions would be included in the Finance Act 2017 to remove the requirement to deduct income tax at source from interest distributions made by open ended investment companies."

"As a result of the proposed changes, it is anticipated that the funds will be required to start paying all interest distributions gross (i.e.,, without deducting income tax) from 6 April 2017."
This change will affect all funds which produce income, whether distributed or reinvested. From the 6 April 2017 income payments will be made at the higher Gross value.

This  may result in a requirement for you to complete a self-assessment return from the 2017/18 tax year or alter the basis of your existing return. We will be including an article within our next insight newsletter which will fully detail the impact of this change.
    March 2017 Alliance Trust Sustainable Future Managed Fund Name change   We were advised that subject to the sale of Alliance Trust Investments Limited to Liontrust Asset Management plc being completed and FCA approved, the name of the fund has changed to Liontrust Sustainable Future Managed Fund. This came into effect on 1 April 2017. No immediate action required.
    March 2017 Natixis H2O Multi Returns Fund Change in tax treatment of distributions   "It was announced in the Budget of 16 March 2016 that provisions would be included in the Finance Act 2017 to remove the requirement to deduct income tax at source from interest distributions made by open ended investment companies."

"As a result of the proposed changes, it is anticipated that the funds will be required to start paying all interest distributions gross (i.e.,, without deducting income tax) from 6 April 2017."
This change will affect all funds which produce income, whether distributed or reinvested. From the 6 April 2017 income payments will be made at the higher Gross value.

This  may result in a requirement for you to complete a self-assessment return from the 2017/18 tax year or alter the basis of your existing return. We will be including an article within our next insight newsletter which will fully detail the impact of this change.
    February 2017 M&G High Income IT Fund winding up   The fund will be wound up on the 15th March 2017 with existing investors having either holding reinvested or sold depending which option they have chosen.

Option 1, which is the default option if no option has been chosen, is to rollover their holding in to one or several of the M&G 'Rollover' Funds.

Option 2 is to liquidate their holding to cash which will be calculated using the price struck on the 15th March 2017.
If you have not already issued your preference you may wish to speak with your adviser for more details on your options.
    February 2017 Natixis H2O Multi Returns Fund Change in Investment Objective and Policy   Natixis are making some clarifications to the language in the investment objective and the investment policy of the fund. There are two key clarifications and those are as follows:

"(I) An additional risk statement has been added into the investment objective to clarify that there can be no guarantee that a positive return will be achieved over a three year investment horizon and that the funds capital is at risk.

(ii) additional language has been added to the description of the investment policy to clarify the expectation that, under normal market conditions, the actual annualised volatility of the fun will typically be between 5-10% over a three year investment horizon. Whilst this is an expectation, shareholders should note that outside of normal market conditions, the actual annualised volatility may be outside of this expected range over rolling investment horizons and so the expectations as to volatility may only serve as a guide to investors."
The changes made are simply to provide further clarity to the investment objective and the investment policy. There has been no change to the way the fund is managed. No immediate action required.
    February 2017 Threadneedle Global Equity Fund Change in Investment Objective, Name and Policy   Threadneedle are rewording the investment objective of the fund to provide a clearer, simpler explanation of the investment purpose. The changes to the wording will not affect the way the fund is run by the manager.

Threadneedle will also be changing the name of the fund from the 'Threadneedle Global Equity Fund' to 'Threadneedle Managed Equity Fund'.
No immediate action required.
    February 2017 GS India Equity Portfolio Change in Operating Expenses   "Until 31 December 2016, the operating expenses applied to the share classes have been determined by reference to a fixed rate as disclosed in the prospectus. Following a review of these fixed rate expenses by the Investment Adviser, effective from the  1 January 2017, the operating expenses for these share classes will be determined using a variable rate (but capped at the previous fixed rate)." This change may result in a reduction in the operating costs for certain share classes but will never exceed the current previous fixed level. No immediate action required.
    January 2017 M&G Property Portfolio and M&G Optimal Income Funds Change in tax treatment of distributions   "It was announced in the Budget of 16 March 2016 that provisions would be included in the Finance Act 2017 to remove the requirement to deduct income tax at source from interest distributions made by open ended investment companies."

"As a result of the proposed changes, it is anticipated that the funds will be required to start paying all interest distributions gross (i.e.,, without deducting income tax) from 6 April 2017."
This change will affect all funds which produce income, whether distributed or reinvested. From the 6 April 2017 income payments will be made at the higher Gross value.

This  may result in a requirement for you to complete a self-assessment return from the 2017/18 tax year or alter the basis of your existing return. We will be including an article within our next insight newsletter which will fully detail the impact of this change.
    January 2017 Fidelity Multi Asset Strategic Fund Investment Objective Clarification   Fidelity have undergone a review of its fund documentation to ensure it meets the needs of their customers. Following the review it has revised some of the descriptions in the fund objectives with the aim of providing further clarity about how the Investment Manager Invests. There is no change to the fund objective. No immediate action required.
    January 2017 BlackRock UK Special Situations, Blackrock Gold & General and Blackrock Japan Equity Tracker Funds Increase in Trustee's fees   "As a result of the UCITS V Directive, the Trustee's duties are increased in scope to include (Among other obligations) increased oversight activities."

"Consequently, revised fees will be paid by the Fund to the Trustee with effect from 23rd January 2017, as agreed between the Trustee and Blackrock Fund Managers Limited."
The Trustee fee increase represents a true and fair cost for the expanded scope of the Trustee's role.

No immediate action required.
    January 2017 Baillie Gifford Corporate Bond Fund Change in tax treatment of distributions   "It was announced in the Budget of 16 March 2016 that provisions would be included in the Finance Act 2017 to remove the requirement to deduct income tax at source from interest distributions made by open ended investment companies."

"As a result of the proposed changes, it is anticipated that the funds will be required to start paying all interest distributions gross (i.e.,, without deducting income tax) from 1 March 2017."
This change will affect all funds which produce income, whether distributed or reinvested. From the 6 April 2017 income payments will be made at the higher Gross value.

This  may result in a requirement for you to complete a self-assessment return from the 2017/18 tax year or alter the basis of your existing return. We will be including an article within our next insight newsletter which will fully detail the impact of this change.
    January 2017 Newton Fund Range Change in tax treatment of distributions   "It was announced in the Budget of 16 March 2016 that provisions would be included in the Finance Act 2017 to remove the requirement to deduct income tax at source from interest distributions made by open ended investment companies."

"As a result of the proposed changes, it is anticipated that the funds will be required to start paying all interest distributions gross (i.e.,, without deducting income tax) from 3 February 2017."
This change will affect all funds which produce income, whether distributed or reinvested. From the 6 April 2017 income payments will be made at the higher Gross value.

This  may result in a requirement for you to complete a self-assessment return from the 2017/18 tax year or alter the basis of your existing return. We will be including an article within our next insight newsletter which will fully detail the impact of this change.
    December 2016 Baring Strategic Bond Fund Change in Pricing Basis   "The pricing of units in the fund is currently carried out on a dual pricing basis.

From the 12th December 2016, the pricing of units in the fund will be carried out on a single pricing basis. This means that a single price is applied to any transaction in units whether purchasing or selling units.

The single price is based on the mid-market valuation of the underlying investments plus other assets less liabilities, which is known as the net asset value (the "NAV") of the fund. The NAV is calculated in accordance with the rules of our regulator, the Financial Conduct Authority, the Trusts Deeds and the Prospectus of the fund."
The change has been made in order to provide a greater level of simplicity to investors purchasing and/or selling units at a particular valuation point, as the price of a unit will be the same for both sets of investors. There will be a dilution adjustment for any new investments into the fund, which ensures the buyer is charged for the costs associated with the new investment, rather than existing investors. There is no plan for a dilution adjustment on redemptions.

No immediate action required.
    December 2016 HSBC Open Global Return Fund Fund Merger   The HSBC Open Global Return (The Fund) will be merged with the HSBC World Selection - Balanced Portfolio (The Receiving Fund). The reasons for the merge are outlined below:

"Since launch the Open Global Return Fund has primarily been holding actively managed investments. The use of third party actively managed investments has added a valuable additional layer of diversification by using the managers with different investment styles. However, the cost of using third party active managers is relatively high even at the competitive rates we have negotiated.

The Fund has declined in size during the last year as new investors are not replacing those that withdrawing from the Fund. We anticipate that this trend will continue in future as investors seek alternative diversified funds, including funds that may offer lower charges. We are taking action to address this now by proposing the merger of the Fund in to the Receiving Fund.

The Receiving Fund was launched in January 2009 and we anticipate this will continue to attract new investors. The Receiving Fund provides similar diversification compared to the Fund. The Receiving Fund makes greater use of HSBC's own passive investment capabilities such as index tracker funds and exchange traded funds, as we can typically access these investments at a lower cost. Shareholders will therefore benefit from the lower overall charges of the Receiving Fund."
The two funds share very similar investment aims targeting capital growth by investing in a broad range of asset classes across global markets. The Receiving Fund is however limited to only funds managed by HSBC but this approach results in a substantially lower management charge.

No immediate action required.
    December 2016 River and Mercantile UK Equity Smaller Companies Fund Decrease in OCF   There has been a decrease to the Fund's Ongoing Charges Figure from 0.89% to 0.79% (B Inc) and 0.80% (B Acc), effective from 30 September 2016. No immediate action required.
    December 2016 Standard Life Inv Investment Grade Corporate Bond Fund Change in tax treatment of distributions   "It was announced in the Budget of 16 March 2016 that provisions would be included in the Finance Act 2017 to remove the requirement to deduct income tax at source from interest distributions made by open ended investment companies."

"As a result of the proposed changes, it is anticipated that the funds will be required to start paying all interest distributions gross (i.e.,, without deducting income tax) from 6 April 2017."
This change will affect all funds which produce income, whether distributed or reinvested. From the 6 April 2017 income payments will be made at the higher Gross value.

This  may result in a requirement for you to complete a self-assessment return from the 2017/18 tax year or alter the basis of your existing return. We will be including an article within our next insight newsletter which will fully detail the impact of this change.
    December 2016 L&G Dynamic Bond Change in tax treatment of distributions   "It was announced in the Budget of 16 March 2016 that provisions would be included in the Finance Act 2017 to remove the requirement to deduct income tax at source from interest distributions made by open ended investment companies."

"As a result of the proposed changes, it is anticipated that the funds will be required to start paying all interest distributions gross (i.e.,, without deducting income tax) from 6 April 2017."
This change will affect all funds which produce income, whether distributed or reinvested. From the 6 April 2017 income payments will be made at the higher Gross value.

This  may result in a requirement for you to complete a self-assessment return from the 2017/18 tax year or alter the basis of your existing return. We will be including an article within our next insight newsletter which will fully detail the impact of this change.
    December 2016 MI TwentyFour Dynamic Bond Fund Net Classes Change in tax treatment of distributions   "It was announced in the Budget of 16 March 2016 that provisions would be included in the Finance Act 2017 to remove the requirement to deduct income tax at source from interest distributions made by open ended investment companies."

"As a result of the proposed changes, it is anticipated that the funds will be required to start paying all interest distributions gross (i.e.,, without deducting income tax) from 6 April 2017."
This change will affect all funds which produce income, whether distributed or reinvested. From the 6 April 2017 income payments will be made at the higher Gross value.

This  may result in a requirement for you to complete a self-assessment return from the 2017/18 tax year or alter the basis of your existing return. We will be including an article within our next insight newsletter which will fully detail the impact of this change.
    December 2016 Investec Emerging Markets Blended Debt Fund Change in tax treatment of distributions   "It was announced in the Budget of 16 March 2016 that provisions would be included in the Finance Act 2017 to remove the requirement to deduct income tax at source from interest distributions made by open ended investment companies."

"As a result of the proposed changes, it is anticipated that the funds will be required to start paying all interest distributions gross (i.e.,, without deducting income tax) from 6 April 2017."
This change will affect all funds which produce income, whether distributed or reinvested. From the 6 April 2017 income payments will be made at the higher Gross value.

This  may result in a requirement for you to complete a self-assessment return from the 2017/18 tax year or alter the basis of your existing return. We will be including an article within our next insight newsletter which will fully detail the impact of this change.
    December 2016 Standard Life Inv Investment Grade Corporate Bond Fund Change in tax treatment of distributions   "It was announced in the Budget of 16 March 2016 that provisions would be included in the Finance Act 2017 to remove the requirement to deduct income tax at source from interest distributions made by open ended investment companies."

"As a result of the proposed changes, it is anticipated that the funds will be required to start paying all interest distributions gross (i.e.,, without deducting income tax) from 6 April 2017."
This change will affect all funds which produce income, whether distributed or reinvested. From the 6 April 2017 income payments will be made at the higher Gross value.

This  may result in a requirement for you to complete a self-assessment return from the 2017/18 tax year or alter the basis of your existing return. We will be including an article within our next insight newsletter which will fully detail the impact of this change.
    November 2016 M&G Corporate Bond Change of Charge   The Annual Management Charge (AMC) of the fund has reduced from 1.25% to 1%, which in turn means the Ongoing Charges Figure (OCF) of the fund has reduced from 1.41% to 1.17%. This is a result of bringing the more expensive 'X' share class AMC in line with the other share classes within the M&G fund range. No action required at this time.
    November 2016 M&G Optimal Income Change of Charge   The Annual Management Charge (AMC) of the fund has reduced from 1.50% to 1.25%, which in turn means the Ongoing Charges Figure (OCF) of the fund has reduced from 1.66% to 1.41%. This is a result of bringing the more expensive 'X' share class AMC in line with the other share classes within the M&G fund range. No action required at this time.
    November 2016 Aberdeen Asian Smaller Companies Investment Trust Ordinary Shares Proposed change to the investment objective    The following is the new investment objective which we have underlined the main amendments and additions for clarification:

"The Company aims to maximise total return to shareholders over the long term from a portfolio made up predominantly of smaller quoted companies (with a market capitalisation of up to approximately US$1 billion at the time of investment) in the economies of Asia and Australasia, excluding Japan by following the investment policy..." 
 
    November 2016 Aberdeen Asian Smaller Companies Investment Trust Ordinary Shares Proposed change to the investment policy   The following is the new investment policy which we have underlined the main amendments and additions for clarification :

"The Company's assets are invested in a diversified portfolio of securities (including equity shares, preference shares, convertible securities, warrants and other equity-related securities)
predominantly in quoted smaller companies spread across a range of industries and economies in the investment region including Australia, Bangladesh, Cambodia, China, Hong Kong, India, Indonesia, Korea, Laos, Malaysia, Myanmar, New Zealand, Pakistan, The Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam, together with such other countries in Asia as the Directors may from time to time determine, (collectively, the ''Investment Region'').

Investments may also be made through collective investment schemes, in unquoted equities (up to 10% of the net assets of the Company, calculated at the time of investment) and in companies traded on stock markets outside the Investment Region provided that over 75% of their consolidated revenue is earned from trading in the Investment Region or they hold more than 75% of their consolidated net assets in the Investment Region."
The changes have been made to broaden the investment policy. No action required at this time.
    November 2016 Royal London Corporate Bond Increase in Ongoing Charges Figure   "Since 1 July 2013, Royal London Asset Management has been applying a cap of 0.03% to the registrar fees charged to each of the Funds in order to ensure that smaller or growing Funds were not unduly impacted by the charges. We are now changing the fee structure for the Funds by applying the 0.03% cap only to Funds which will have net assets of under £25m." The Royal London Corporate Bond has assets under management of over £25mil therefore, this fund will be effected by the increase. This increase, although slight, will have an effect on the investment growth of the fund. No action required at this time but if you do have any concerns please contact your financial adviser.
    October 2016 Threadneedle UK Property Fund Fund Unsuspended   "With effect from Monday 26 September 2016, the Threadneedle UK Property PAIF & Feeder Fund will lift the temporary suspension on dealing and will resume trading as normal." Clients are free to sell their holdings if they wish. No action required.
    October 2016 M&G Property Portfolio Fund Fund Unsuspended   "The PAIF and Feeder Fund will resume trading on the 4 November 2016." Clients are free to sell their holdings if they wish. No action required.
    October 2016 Standard Life UK Real Estate Fund Fund Unsuspended   "With effect from Monday 17 October 2016, the Standard Life Investments UK Real Estate Fund (Feeder & PAIF) will become un-suspended and will resume trading as normal." Clients are free to sell their holdings if they wish. No action required.
    October 2016 Aberdeen UK Property Fund Removal of Fair Value Adjustment   "Aberdeen Fund Managers Limited ("Aberdeen") reports that today's published price for the
Aberdeen UK Property Fund and the Aberdeen UK Property Feeder Unit Trust (together "the
Funds") no longer includes a fair value adjustment."
Clients are free to sell their holdings if they wish. No action required.
    August 2016 Investec Strategic Bond Fund Fund Merger   Investec have proposed the merger of its Strategic Bond Fund in to its Diversified Income Fund. The merger has been proposed as the aim of the strategic fund is to provide an income primarily through investment in high quality bonds, however due to the recent lows in global interest rates Investec foresee the fund unlikely to provide the level income it aims to. The diversified Income Fund has a multi-asset approach to its investments and Investec feel having this approach, as opposed to just investing in fixed interest bonds, will provide sustainable income with a low volatility. The Investment Committee view the Diversified Income as the superior investment however the change in underlying assets may not be appropriate when reviewing the fund as part of your overall portfolio.
    August 2016 JP Morgan Cautious Managed Fund Fund Name Change   The JPM Cautious Managed Fund will be changing its name to the JPM Global Macro Balanced Fund. The funds objective is also being updated to provide more accurate description of the what the fund is aiming to achieve. The fund objective is being changed to show its objective to '...achieve capital growth in excess of its benchmark...', where previously it claimed to '...provide income and long term capital growth...'. The change has been made because even though the fund does provide some income from its fixed interest element, the actual aim of the fund is to produce capital growth. The funds investment process has not changed but the objective now reflects more accurately the funds approach. As this will have no impact on yield levels we don't feel that any action is required.
    August 2016 CF Absolute Equity Fund Fund Changes   The Authorised Corporate Director of the fund will be introducing two changes to the Fund. The first change will be the deferral of redemptions at a particular dealing day to the next dealing day where the requested redemptions exceed 10% of a funds value. The second change is an increase in the funds investment parameters, specifically relating to the cash element of the Fund. The funds investment parameters will be amended so that it can hold up to 49% in government and other public securities. these securities will generally be less that 1 year maturity. The previous limit was 35%. The implementation of the redemption deferral power has been introduced to protect existing investors from the impact of large redemptions and provide additional means to mitigate any potential liquidity issues. We don't recommend any further action based on this action. 
    July 2016 Aberdeen UK Property Fund Fund Suspension & Redemption penalty   As a result of the current Property Market uncertainty Aberdeen have applied a redemption penalty to their Property fund. This penalty will mean any sale requests will be hit with a large discount on the sale price. The reason for the penalty is to deter investors from redeeming their holdings in the fund without suspending trading in the entirely. The move has been driven more by sentiment rather than market fundamentals. Before and after the EU referendum fund managers received a large increase in the number of redemption requests which would force the manager of the fund to sell properties at a potentially discounted rate. Until the effect of the referendum is known, property managers are unable to accurately value the properties and therefore don't feel it is in the best interest of the existing holders, who intent on retaining the fund, to allow redemptions to be processed without knowing the true value of the portfolio assets. Rather than closing the fund Aberdeen have applied a large redemption penalty on the fund as a deterrent. We therefore recommend avoiding any trading on this fund, where possible, until the market has settled. 
    July 2016 Standard Life UK Real Estate Fund Fund Suspension   The fund manager has suspended trading on the fund as they have become increasingly worried with the large number of sales recently as a result of the high levels of uncertainty in the UK commercial property market since the outcome of the EU referendum. The suspension has been implemented in order to protect the interests of the remaining shareholders. The move has been driven more by sentiment rather than market fundamentals. Before and after the EU referendum fund managers received a large increase in the number of redemption requests which would force the manager of the fund to sell properties at a potentially discounted rate. Until the effect of the referendum is known, property managers are unable to accurately value the properties and therefore don't feel it is in the best interest of the existing holders, who intent on retaining the fund, to allow redemptions to be processed without knowing the true value of the portfolio assets. While this move is frustrating for clients who require redemptions we do feel that this will provide all holders with a fair value once the fund can revalue its assets.
    July 2016 M&G Property Portfolio Fund Fund Suspension   The fund manager has suspended trading on the fund as they have become increasingly worried with the large number of sales recently as a result of the high levels of uncertainty in the UK commercial property market since the outcome of the EU referendum. The suspension has been implemented in order to protect the interests of the remaining shareholders. The move has been driven more by sentiment rather than market fundamentals. Before and after the EU referendum fund managers received a large increase in the number of redemption requests which would force the manager of the fund to sell properties at a potentially discounted rate. Until the effect of the referendum is known, property managers are unable to accurately value the properties and therefore don't feel it is in the best interest of the existing holders, who intent on retaining the fund, to allow redemptions to be processed without knowing the true value of the portfolio assets. While this move is frustrating for clients who require redemptions we do feel that this will provide all holders with a fair value once the fund can revalue its assets.
    July 2016 Henderson UK Property Fund Fund Suspension   The fund manager has suspended trading on the fund as they have become increasingly worried with the large number of sales recently as a result of the high levels of uncertainty in the UK commercial property market since the outcome of the EU referendum. The suspension has been implemented in order to protect the interests of the remaining shareholders. The move has been driven more by sentiment rather than market fundamentals. Before and after the EU referendum fund managers received a large increase in the number of redemption requests which would force the manager of the fund to sell properties at a potentially discounted rate. Until the effect of the referendum is known, property managers are unable to accurately value the properties and therefore don't feel it is in the best interest of the existing holders, who intent on retaining the fund, to allow redemptions to be processed without knowing the true value of the portfolio assets. While this move is frustrating for clients who require redemptions we do feel that this will provide all holders with a fair value once the fund can revalue its assets.
    July 2016 Threadneedle UK Property Fund Fund Suspension   The fund manager has suspended trading on the fund as they have become increasingly worried with the large number of sales recently as a result of the high levels of uncertainty in the UK commercial property market since the outcome of the EU referendum. The suspension has been implemented in order to protect the interests of the remaining shareholders. The move has been driven more by sentiment rather than market fundamentals. Before and after the EU referendum fund managers received a large increase in the number of redemption requests which would force the manager of the fund to sell properties at a potentially discounted rate. Until the effect of the referendum is known, property managers are unable to accurately value the properties and therefore don't feel it is in the best interest of the existing holders, who intent on retaining the fund, to allow redemptions to be processed without knowing the true value of the portfolio assets. While this move is frustrating for clients who require redemptions we do feel that this will provide all holders with a fair value once the fund can revalue its assets.
    June 2016 Aviva Property Trust  Fund Merger   This fund will be merging with the Aviva Investors UK Property Feeder Fund. This merger will  convert the fund in to a PAIF.  PAIF's are generally exempt from UK tax on income derived from the property holdings and the other investments. This means that investors in a PAIF, benefit by the fund not being taxed on rental income, which is currently taxed at 20%. We believe this conversion will allow those investors, who are eligible for these tax advantages to benefit, whilst those who aren't, will not be affected by the change.
    June 2016 M&G Property Portfolio Fund changes   From the 1st October the Fund will be changing the way they deduct charges form the income shares in this Fund. Currently the charges are mostly deducted from the income, however from the above date it will be taken form the funds capital. This change may increase the income payments for those in the income share class and/or increase the reinvested income for those in the Accumulation share class. This change will increase the funds income payment within distributing share classes but at the expense of capital growth in both income and accumulation units. Fund managers charging fees to capital is common and isn't of concern, we will continue to review the funds performance but no action is required at this time. 
    June 2016 Legal & General Consensus Fund

Fund AIM change

  The fund survey used as a benchmark closed at the end of June and L&G have chosen a new benchmark which will be used to select the different types of assets the fund will invest in. As this change does not affect the management charge of the Fund. We don't feel that any further action is required.
    June 2016 Franklin Templeton Funds Management Fee Changes   On the 1st July the management fees for all W Shares in the Franklin UK rising Dividends, Franklin UK Equity Income and Franklin UK Opportunities Funds will be substantially reduced from 0.75% pa to 0.45% pa. The Maximum ongoing charges figure for these W share classes will therefore be 0.55% pa* A reduction in management fees will have a positive affect on the fund performance, we don't feel any further action is required.
    June 2016 Franklin Templeton Funds Change in Dividends   The dividend payments for the Franklin UK Rising Dividends Fund and the Franklin UK Equity Income Fund have changed from every 6 months to every 3 months. This will benefit those investors who are looking for more frequent dividend payments. If you are concerned with the change in frequency please contact you financial adviser.
    June 2016 BNY Mellon Absolute Insight Fund Change of Charge   BNY Mellon have decided to reduce their Annual Management Charge for the U share class in this Fund. The AMC will be reduced from 0.85% to 0.75%. A reduction in management fees will have a positive affect on the fund performance, we don't feel any action is required.
    June 2016 Kames Ethical Corporate Bond and Kames Sterling Corporate Bond Change of Investment Objective   The investment policy is being amended by the removal of the additional power to invest more than 35% of the Net Asset Value of each fund in the various government and Public Securities (GAPS) specified in the fund's prospectus. This change will have no impact on the existing composition, the fund does not utilise this additional power and has no intention to in the future. No further action is recommended.
    June 2016 Allianz Sterling Total Return Fund Name Change   The fund will be changing its name to 'Allianz Strategic Bond Fund'. Following the name change the fund will also be ammending its Investment objective slightly. Previously the fund had a requirement to be invested predominantly in the United Kingdom and Europe. This requirement will be lifted and replaced by a new requirement that at least 80% of its investments will be in debt securities which are Sterling Denominated (or hedged back to Sterling). Allianz believe this change will '...allow the fund to invest in bonds rated below single B, so that investors can benefit from having exposure to these bonds if we believe that they offer superior risk/reward characteristics.' We feel this change does not stray away from the core investment objectives of the fund and therefore no action is required.
    June 2016 Henderson UK Property Fund  Fund Conversion   This Fund has now converted in to a Property Authorised Investment Fund (PAIF).  We believe the move to a PAIF fund from a Unit Trust will have a greater tax advantage for a majority of clients.
    June 2016  Fidelity UK Growth Fund Merger   This fund will be merging with the Fidelity UK Select fund. The two funds share a very similar investment objectives and risk-return profiles. The Investment Objectives and the Risk-return profiles are staying the same, also the OCF will remain at 0.95%. No action is required.
    June 2016 Threadneedle UK Property Fund Fund Conversion   This Fund has now converted in to a Property Authorised Investment Fund (PAIF).  We believe the move to a PAIF fund from a Unit Trust will have a greater tax advantage for a majority of clients.
    June 2016 M&G Property Portfolio Fund Fund Pricing Basis Change   M&G has changed the pricing basis of the Fund together with the 'Feeder' version of the fund. The change is from a creation price to a cancellation price which in term means a change from the current bid basis to a cancellation basis. This has been made due the recent outflows from the Fund. This change is designed to ensure equitable treatment for both transacting clients and those who remain invested. The effect on trading will mean any sales from the Fund will be priced on a Bid basis (the same as the Cancellation Price) therefore you will be selling units at the lowest possible price. Any purchases in the Fund that were previously fully discounted will be priced at the Offer price minus whatever the discount was in relation to the share class, this means you will be purchasing units at the lowest possible price. 
    June 2016 Standard Life Investments Ignis UK Property Fund Fund Name Change   This Fund has changed its name to the 'Standard Life Investments UK Real Estate Fund'. No action required.
    May 2016 Newton Asian income Fund Dividend Yield Changes   Following a recent review of the fund, Newton have decided to change the dividend yield criteria they use to help select stocks in which the fund may invest. The change has been been made to broaden the funds stock selection criteria by adjusting the existing stock level buy and sell yield discipline (this is the point at which the stock's yield falls within (buy) or below (Sell) the required level to be considered for inclusion in the fund). The threshold at which stocks can be considered for inclusion in the fund from 100% to 85% of the yield achieved on the comparative index (the FTSE Asia Pacific ex Japan Index). The threshold at which stocks should be sold form the Fund will change from 85% to 60% of the yield achieved on the comparative index. 

In addition to the above changes Newton will be lowering the overall target of the Fund to an annual yield that is at least 25% (rather than the existing 35%) higher than the level of income generated by the comparative index on the an historic 12 month basis.
Newton state the reason for the dividend yield change is because 'in recent years the dividend outlook for some companies in Asia (excluding Japan) has become more challenged.' Newton believes that in certain industry sectors, the ability of companies to sustain dividend distributions in line with their historic practice has become increasingly unrealistic. These changes do not fall outside the Fund's investment objectives and policies. No action is required.
    April 2016 BlackRock (Channel Isalands) limited (BCI) Transfer of Distribution Activities   All of the distribution activities have been transferred to BlackRock Investment Management (UK) limited (BIM). This transfer is to consolidate all activities associated with distribution of the Funds in the UK, where BlackRock's primary operations in Europe are undertaken. This change has no impact on the way the fund is managed.
   

April 2016

Stewart Investors Asia Pacific Leaders Fund Investment Objective Amendment   The Investment objectives of the fund are not changing, however they are being updated to be much clearer and transparent. The change is a small additional to the existing investment policiy. The additional information clarifies that the fund will invest in mid capitalisation equities issued by companies that are incorporated or listed, or which conduct the majority of their economic activity, in the asia pacific regian (Excluding Japan, including Australasia). The update includes an additional investment strategy where particular consideration is given to investment in companies that are positioned to benefit from, and contribute to, the sustainable development of the countries in which they operate.

No Action required.

    March 2016 Standard Life Investments Ignis UK Property Feeder Fund Fund merger   Standard Life Investments are proposing to merge the Standard Life Investments Ignis UK Property Feeder Fund into two new sub-funds.  The proposed effective date of the merger is scheduled to take place on 18 March 2016. Holders will either have their holdings merged into the newly created Standard Life Investment Ignis UK Property Feeder Accumulation Fund or the newly created Standard Life Investments Ignis UK Property Feeder Income Fund, depending on which type of unit was held previously. Additional product change will also take effect on 18 March 2016, but do not require approval. The pricing basis will change from Dual pricing to single pricing. SLI have chosen to increase fees due to a change in registrar and will have 2 share classes but only allow access via the nominees to Platform1 share class with an OCF of 0.89% an increase of 0.09%. Our view is that this brings them into line with other property funds.
    March 2016 Aberdeen Property Trust Fund Conversion   The fund will undergo a conversion into a Property Authorised Investment Fund ("PAIF"), effective on 04/03/2016. The changes will allow for dual income streams which can be taxed at the different rates for the Income and Dividend elements and allow the manager to pay the income element as Gross or Net of Tax depending on the clients' requirement. There will be a Feeder Fund linked for those clients who are not eligible to invest into the PAIF. The feeder fund will retain the current structure and invest directly in the PAIF fund, this version of the fund will therefore continue to pay distributions in the current manner and will be eligible for use within life company products impacted by the corporate ownership rules. Clients converting into the feeder fund will not see any change to their investment other than the fund name change to include "Feeder".
    March 2016 Schroder Asian Alpha Plus Fund Fund Structure Change   The regulatory structure of the fund will be changing from a NURS (non UCITS) fund to a UCITS (A collective investment scheme which complies with the requirements of the UCITS directive) fund. This means the investment manager will have slightly less investment powers as a UCITS fund. There are no changes to the fund's investment objective or policy, and the way it is managed will not change. Within the new UCITS framework the investment process of the fund will not change so there will be no affect to an end client. No action is required.
    June 2015 Invesco Perpetual Emerging Countries fund Fund name change   Invesco Perpetual Emerging Countries fund will change its name to the Invesco Perpetual Global Emerging Markets fund as of 22/06/2015 No action required
    June 2015 Legg Mason Global Multi Strategy Bond fund

Fund name change

  Legg Mason Global Multi Strategy Bond fund will change its name to Legg Mason IF Western Asset Global Multi Strategy Bond fund as at 28/06/2015 No action required 
    June 2015  Legg Mason Japan Equity fund Fund name change   Legg Mason Japan Equity fund will change its name to Legg Mason IF Japan Equity fund as at 28/06/2015 No action required
    June 2015  Legg Mason UK Equity fund  Fund name change   Legg Mason UK Equity fund will change its name to Legg Mason IF QS UK Equity fund as at 28/06/2015 No action required
    June 2015 Legg Mason US Equity fund  Fund name change       Legg Mason US Equity fund will change its name to Legg Mason IF ClearBridge US Equity fund as at 28/06/2015  No action required 
    June 2015  Legg Mason US Smaller Companies fund  Fund name change   Legg Mason US Smaller Companies fund will change its name to Legg Mason IF Royce US Smaller Companies fund as at 28/06/2015  No action required
    May 2015  Legal & General (L& G) Investments Fee change   L&G have introduced a new single fixed Fund Management Fee (FMF) which will replace the existing charges, fees & expenses which have previously been taken separately from their funds. Overall the level of charges paid will not change.   Many investment houses are taking similar steps to introduce further clarity to their fund expense. The change does not effect the current level of fees/charges being applied. No action is required. 
    May 2015  Fidelity UK Income Opportunities  Fund merger    The Fidelity UK Income opportunities fund will be merging with the Fidelity MoneyBuilder Dividend fund. The reason for the merger is because both funds hold similar investment strategies.  As the Fidelity MoneyBuilder Dividend Fund is much larger than the Fidelity UK Income Opportunities fund the OCF will be reduced due to economies of scale. This will be beneficial for shareholders in the Fidelity UK Income Opportunities fund. There will be no change for shareholders in the Fidelity MoneyBuilder Dividend Fund.
    May 2015  Vanguard FTSE UK All Share Index Changes to the dilution levy    Vanguard are anticipating a significant number of purchases in to the fund and have proposed an alteration to the current dilution levy policy. Currently the fund manager reserves the right to impose a dilution levy on any deal (or series of deals placed on the same day) exceeding 3% of the Net Asset Value (NAV) of the scheme, based on the most recent valuation point.

The new policy will be that the fund manager reserves the right to impose a dilution levy on any deal (or series of deals placed on the same day) if the manager is of the opinion that the interests of unitholders justify the charging of such a levy. The manager expects, in normal circumstances, that they will not impose a dilution levy unless the deal or series of deals exceed 1.5% of the NAV. 
The TPO Investment Committee understand that this change will increase clients' risks to a dilution levy )where invested in this fund). However, as the threshold (despite the 1.5% reduction) still sits approximately at £57 million, we do not anticipate this being an issue. If you have any concerns about your holding in this fund please speak to your adviser.
    April 2015  Newton Global Higher Income  Fund name change   The name of the fund will be changed from 'Newton Global Higher Income' to 'Newton Global Income'. The removal of 'Higher' from the fund name is to bring the fund in line with Newton's other Income funds. There has been no change to the amount of income yielded from the fund. No action required 
    April 2015  Newton Global Higher Income  Fee/charging structure change   Previously, all fees and additional expenses were charged to the 'income' element of the fund. With effect from the 1st April 2015, the fees and expenses will be charged to the 'capital' element of the fund.   The fund manager does not foresee this having a drastic effect on the funds value or performance, however, it should be highlighted that this change could give rise to an element of capital erosion. There has been no change to the funds income yields which sits at 3.63% as at 14th May 2015. 
    April 2015  Biotech Growth Trust Plc  Increased borrowing rights   In November 2014 the company board agreed to increase the borrowing limit from 10% to 15% of the company's net assets. Although an increase, this increase is still within the TPO Investment Committee maximum 'gearing level'. This may increase the level of risk but the Investment Committee have no concerns at this point.  
    April 2015  Threadneedle Investments  Fund management merger    Threadneedle Investments, in conjunction with its US-based affiliate Columbia Management, has rebranded to Columbia Threadneedle Investments.  No action required 
    April 2015  Investec Emerging Markets Blended Debt fund Fund share class and charges and expenses charge  

The name of the current 'income' ('Inc') share class will change to 'income 2' ('Inc-2). There will be no changs to the way charges and expenses are charges against the capital of the share class.

The 'accumulation' ('Acc') share class will have its charges and expenses charged to the income earned rather than the capital value of the share class.

 

There are no changes to the investment strategy within the income share classes, this is only a name change. No action required.

Switching management fees within the accumulation funds to income over capital will reduce the amount of double taxation and therefore be beneficial. No action required.

    April 2015  Aberdeen Property Trust  Fund manager/Authorised Corporate Director (ACD) change and investment policy change  

ACD change: Aberdeen Fund Managers Limited will replace Aberdeen Asset Fund Management Limited as the ACD of the Company.

In connection with the change of ACD to Aberdeen Asset Fund Managers Limited (AFML), the registrar and administration functions in respect of the Company will be delegated by AFML to International Financial Data Services (UK) Limited ('IFDS'), who will replace The Bank of
New York Mellon (International) Limited. IFDS already performs registrar and administration functions for other investment products managed by Aberdeen.

Investment policy change: from 4 May 2015 the valuation point for all sub-funds will be 12pm. For most sub-funds this represents no change, with the exception of Aberdeen Global High Yield Bond fund, which will see its valuation point change from 2pm to 12pm on 4 May 2015.

The ACD may limit the total number of shares in any of the sub-funds of the company, which may be redeemed on
any 'dealing day', to a number representing 10% of the net assets of that sub-fund. The ACD will ensure the consistent treatment of all holders who have sought to sell shares on any Dealing Day at which redemptions are deferred. The ACD will pro-rata all such redemption requests to the stated level (i.e. 10% of a sub-fund's value) and will defer the remainder until the next dealing day. The ACD will also ensure that all deals relating to an earlier Dealing Day are completed before those relating to a later Dealing Day are considered. The overall object of such a policy is to ensure
fairness for all investors on days when high levels of redemptions are received by the ACD.

Investor statements are currently produced as at 31 January and 31 July. From May 2015 these dates will change to 5
April and 5 October, with statements issued in early May and early November respectively.

Currently, investors who enter into a contract to purchase shares through an independent intermediary can exercise an option to cancel the investment within 30 days. From 4 May 2015, in accordance with conduct of business regulations, investors entering into contracts through an independent intermediary will have 14 days to exercise the cancellation option.

No action required 
    April 2015 CF Miton Cautious Multi Asset fund  Fund sector change    There will be a change to the Investment Association sector from 'Flexible Investment' to 'Mixed Investment 20%-60%', effective from 01 April 2015.   We are pleased with the changes that have been introduced by the new manager David Jane. While the change in sector adds sector restrictions to the funds mandate the fund remains cautiously managed. 
    April 2015  Pictet Generics fund  Fund name change and investment policy change    The fund will change its name to Pictet Health which will be reflected in the investment policy change as the fund will expand its investment choice. The fund will no longer be restricted to investing in generic drugs but invest primarily in equities or similar securities issued by companies active in sectors related to health.            The TPO Investment Committee believe a wider scope for investment is beneficial to the investor. 
    April 2015  M&G American fund  Fund name change    The M&G American fund will change its name to M&G North American Dividend fund as of 28 April 2015. The fund will aim to generate attractive long-term returns from a combination of dividends and capital growth.   No action required 
    April 2015  Kames Inflation Linked fund  Fund name change   The Kames Inflation Linked fund will change its name to the Kames Diversified Growth fund as of 27 April 2015. The aims to deliver a total return of at least UK RPI +4% per annum over the medium-term, with between half and two-thirds of global equity market volatility. The fund will also have the flexibility to invest across a wide range of assets, including equities, bonds and alternatives. The name change has been implemented to align the pooled fund name (Kames Inflation Linked fund) with the funds strategy.   No action required 
    April 2015  AXA Framlington Equity Income fund  Fund merger    The AXA Framlington Equity Income fund is due to merge into AXA Framlington Monthly Income fund on 25 April, subject to shareholder approval. The merge will mainly result in a change of income frequency as the two funds have a large degree of overlap in terms of investment focus and strategy. The AXA Framlington Equity Income fund previously paid income twice a year but following the merge income will be paid monthly. No action required 
    April 2015  Legg Mason Western Asset Emerging Markets Bond fund  Fund name change    Legg Mason Western Asset Emerging Markets Bond fund will change its name to Legg Mason Western Asset Emerging Markets Total Return Bond fund as of 16 April 2015. This is to better reflect the investment strategy of seeking to maximise total return through income and capital appreciation.  No action required 
    April 2015  Newton Higher Income  Fund name change   The Newton Higher Income will change its name to Newton UK Income as of 1 April 2015. The change has been made to reflect that the fund invests predominately in UK-listed companies.  No action required