Recent fund changes

Our range of funds are subject to change. If you are directly affected by any changes we will write to you in advance.

JPMorgan have made some changes to the JPM Global Macro Balanced Fund which is the underlying fund for the RLP/JPMorgan Global Macro Balanced pension fund.

What's changing?

  • The name of the fund will change to RLP/JPMorgan Global Macro
  • The benchmark will change to ICE 1 month GBP Libor.
  • The aim / objective of the fund will change to the following: the fund aims to provide positive investment returns over a rolling 3 year period in all market conditions by investing in securities globally, using Financial Derivative Instruments where appropriate, with a volatility level typically lower than two-thirds of the MSCI All Country World Index (Total Return Net). A positive return is not guaranteed over this or any time period and a capital loss may occur.

Why are we making this change?

The fund has moved to a more flexible investment strategy that makes greater use of derivatives for downside protection and has the potential for better performance in changing and adverse market conditions and therefore higher prospects for growth.  

 

 

We’re changing the name of the RLP Emerging Markets Equity Tracker fund to the RLP Emerging Markets ESG Leaders Equity Tracker fund. This change will take place week commencing 18 March 2019.

What’s changing?

  • The fund name will change to RLP Emerging Markets ESG Leaders Equity Tracker fund.
  • The investment objective has changed  to – “The Fund aims to track the net total return of the MSCI Emerging Markets ESG Leaders Index. The Fund will invest primarily in the securities that make up the MSCI Emerging Markets ESG Leaders Index and instruments that provide exposure to these securities. The Index provides coverage of companies in emerging markets which have high environmental, social and governance (ESG) scores relative to their sector peers.”

Why are we making this change?

The change in name has been made to reflect the name change to the MSCI index that the fund is benchmarked against. The fund will continue to track the same index but the name has been updated to include ‘Leaders’.

 

 

On the 30th November the following funds and fund managers will change their name. Please note that the fund charges remain the same.

Old Fund Manager Name

Old Fund Name

New Fund Manager Name

New Fund Name

BlackRock Aquila RLP/BlackRock Aquila Consensus Blackrock RLP/BlackRock Consensus 85
BlackRock Aquila RLP/BlackRock Aquila European Equity Index Blackrock RLP/BlackRock ACS European Equity Index
BlackRock Aquila RLP/BlackRock Aquila Global Blend Blackrock RLP/BlackRock ACS Global Blend
BlackRock Aquila RLP/BlackRock Aquila Global Equity Index (50:50) Blackrock RLP/Blackrock ACS Global Equity Index (50:50)
BlackRock Aquila RLP/BlackRock Aquila Global Equity Index (60:40) Blackrock RLP/BlackRock ACS Global Equity Index (60:40)
BlackRock Aquila RLP/BlackRock Aquila Japanese Equity Index Blackrock RLP/BlackRock ACS Japanese Equity Index
BlackRock Aquila RLP/BlackRock Aquila Long Gilt Index Blackrock RLP/BlackRock Long Gilt Index
BlackRock Aquila RLP/BlackRock Aquila Over 5 years Index linked Gilt Index Blackrock RLP/BlackRock Over 5 years Index linked Gilt Index
BlackRock Aquila RLP/BlackRock Aquila Pacific Rim Equity Index Blackrock RLP/BlackRock Pacific Rim Equity Index
BlackRock Aquila RLP/BlackRock Aquila UK All Stocks Corporate Bond Index Blackrock RLP/BlackRock UK All Stocks Corporate Bond Index
BlackRock Aquila RLP/BlackRock Aquila UK Equity Index Blackrock RLP/BlackRock ACS UK Equity Index
BlackRock Aquila RLP/BlackRock Aquila US Equity Index Blackrock RLP/BlackRock ACS US Equity Index
BlackRock Aquila RLP/BlackRock Aquila World (ex UK) Equity Index Blackrock RLP/BlackRock ACS World (ex UK) Equity Index
Schroder RLP/Schroder European Opportunities No Change RLP/Schroder European Recovery
Invesco Perpetual RLP Asia Pacific Core Plus (Invesco Perpetual Asian) Invesco RLP Asia Pacific Core Plus (Invesco  Asian)
Invesco Perpetual RLP Global Managed Equity Specialist (Invesco Perpetual Global Equity) Invesco RLP Global Managed Equity Specialist (Invesco  Global Equity)
Invesco Perpetual RLP Japan Specialist (Invesco Perpetual Japan) Invesco RLP Japan Specialist (Invesco  Japan)
Invesco Perpetual RLP UK Equity Specialist (Invesco Perpetual UK Growth) Invesco RLP UK Equity Specialist (Invesco  UK Growth)
Invesco Perpetual RLP/Invesco Perpetual Corporate Bond Invesco RLP/Invesco  Corporate Bond
Invesco Perpetual RLP/Invesco Perpetual Distribution Invesco RLP/Invesco  Distribution
Invesco Perpetual RLP/Invesco Perpetual Global Bond Invesco RLP/Invesco  Global Bond
Invesco Perpetual RLP/Invesco Perpetual High Income Invesco RLP/Invesco  High Income
Invesco Perpetual RLP/Invesco Perpetual Monthly Income Plus Invesco RLP/Invesco  Monthly Income Plus
Invesco Perpetual RLP/Invesco Perpetual UK Growth 'A' Invesco RLP/Invesco  UK Growth 'A'
Old Mutual Global Investors RLP US Core Plus (Old Mutual North American Equity) Merian Global Investors RLP US Core Plus (Merian North American Equity)
HSBC RLP/HSBC Amanah Global Index No Change RLP/HSBC Islamic Global Equity Index
HSBC RLP/HSBC Amanah Global Index 'A' No Change RLP/HSBC Islamic Global Equity Index 'A'
Baillie Gifford RLP/Baillie Gifford Worldwide Equity (60:40) No Change RLP/Baillie Gifford UK and Worldwide Equity
Baillie Gifford RLP/Baillie Gifford Worldwide Equity (60:40) ‘A’ No Change

RLP/Baillie Gifford UK and Worldwide Equity ‘A’

We’re replacing the above underlying investments and as a result, the Schroder funds will change to the RLP UK Equity Core Plus (JPM UK Equity Growth) pension fund. This change will take place week commencing 3 December 2018.

Why are we making this change?

The Schroder funds have suffered poor performance and the Royal London Investment Advisory Committee (IAC) has raised concerns about the consistent underperformance of them over significant time periods.

The JPM UK Equity Growth fund has a strong performance track record coupled with a robust investment process.

The RLP/M&G Global Leaders fund will merge into the RLP/M&G Global Themes fund on Friday 25th May 2018.

What’s changing?

  • The fund name will change to the RLP/M&G Global Themes fund.
  • The benchmark will remain as MSCI AC World Index.
  • There is no change to the fund’s annual management charge (AMC).
  • The M&G Global Themes fund aims to provide a higher total return (the combination of capital growth and income) than that of the MSCI ACWI Index over any five-year period.
  • The M&G Global Themes fund policy is to invest at least 80% of its Net Asset Value in the equity securities of companies across any sectors and market capitalisations that are domiciled in any country, including emerging markets. The Fund may also invest in collective investment schemes, other transferable securities and may hold cash for liquidity purposes. Derivatives may be used for efficient portfolio management.

Why are M&G making this change?

Following a thorough review of the M&G Global Leaders fund, it was highlighted that it had similar characteristics to the M&G Global Themes fund. M&G consider the merger to be in the best interests of investors and the recent shareholder vote upheld the decision.

What other options are there?

If you wish, you can choose another investment option available to you. You can find full information on our fund range by visiting the investment options page. If you’re unsure about the best course of action you should speak to a financial adviser

We are removing the RLP US Specialist (JP Morgan US) pension fund from our fund range. As an interim measure by JPMorgan Funds Limited the RLP US Specialist (JPMorgan US) fund will be merged with the RLP US Specialist (JPMorgan US Select) fund on 28 April 2018.

Then on the 18 June 2018 all assets held in the RLP US Specialist (JPMorgan US Select) fund will be moved to the RLP US Core Plus (Old Mutual North American).

Why are we making the change?

The JP Morgan fund has suffered from poor long-term underperformance and the fund’s rating was downgraded by Morningstar. Our Investment Advisory Committee (IAC) has concerns around the level of risk and positions being adopted by the fund coupled with the performance issues

The AMC for the underlying Columbia Threadneedle Absolute Return Bond has been reduced, so we have reduced the AMC of our RLP Columbia Threadneedle Absolute Return Bond accordingly:

Fund name Old AMC New AMC Additional expense New Total Expense Ratio (TER)
RLP Columbia Threadneedle Absolute Return Bond  1.58% 1.38% 0.16% 1.54%