Fund merger - Amundi Funds Equity Greater China fund
Amundi has announced its intention to merge its Amundi Funds Equity Greater China fund into the Amundi Funds China Equity Fund with effect from 21 June 2019.
Impacts on
these guided-architecture products
Impacts on
open architecture products including
- PIMS
- Choice
- Select
Reason for the merger
Following the company merger of Pioneer Investments with Amundi Group in July 2017. Amundi is carrying out a rationalisation of its products to provide a streamlined fund range across the enlarged Amundi Group. The Equity Greater China fund is one of the funds it has decided to merge as part of the rationalisation.
Action to be taken for Open-architecture policyholders
On the merger date, holdings will automatically transfer to the receiving "Amundi Funds China Equity fund" as detailed in the Amundi notification document opposite.
Action to be taken for Guided-architecture policyholders
We have now closed the merging fund to new business and switches in with immediate effect. Existing investors can continue to invest in the fund until Friday 14 June 2019, at which point holdings will be automatically switched, and any regular premium allocation redirected, into the Schroder ISF Greater China fund (the “alternative fund”).
The receiving fund proposed by Amundi as part of the merger is not in our fund range, so we have selected the alternative fund as it has a similar investment objective and risk profile to the merging fund, with lower fund charges.
We have written to our guided-architecture policyholders, or their appointed investment adviser, who are impacted by the mergers them of the action we will be taking and their option for switching to a new fund if they prefer. Servicing financial advisers will receive a sample of the letter for their information.
| Fund name | Product affected | Merger date | Merger action |
|---|---|---|---|
| Amundi Fund Equity Greater China AU-C USD - LU0165623512 | Quantum, Oracle, Paragon, Quantum Malaysia, Regular Savings Plan & Regular Savings Plan Malaysia. | 14 June 2019 | Holdings will be switched into Schroder ISF Greater China A Acc USD - LU0140636845 |
You can view samples of the policyholder and investment adviser mailings opposite, along with the Amundi notification.
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For more information about Amundi Asset Management visit www.amundi.lu