October 2021 – Changes to the Responsible Investing sector
Following a review of the Responsible Investing sector, RL360 are making some changes to the range. Impacts products: Oracle, Paragon, Quantum, Regular Savings Plan and LifePlan (including Malaysia variants).
Why we conduct reviews
By reviewing funds on a regular basis, using tools from independent global investment research company Morningstar®, the company that powers our interactive fund centres, we seek to identify and add funds that stand out in their respective peer groups for performance, risk/reward balance, objectives or investment style. We also look at funds that analysts at Morningstar believe will outperform their sector. Those funds you've asked to see in the range will be considered as long as they provide the necessary qualities and fit our parameters.
A review isn't just about adding funds. Importantly, we also take steps to remove funds we feel are no longer appropriate for the range. Our goal is to provide you with a best of breed range of quality funds covering a variety of sectors, regions and asset classes.
THE CHANGES FOR OCTOBER 2021
There are a number of changes to our Responsible Investing sector which affects the products listed above.
We've removed one fund with immediate effect and this is now closed to new business and switches in. Existing investors affected by the removal will be written to in October providing them with two months’ notice of our intention to switch their holding out and into an alternative fund. These clients can continue to invest in the closing fund until the switch date. Switches will take place between 15 and 30 December 2021. Samples of these letters can be viewed opposite.
If clients are happy with our choice of receiving fund then they do not need to do anything and will be switched automatically (including redirection of any regular payment allocation where applicable). However, if they would prefer to switch to a different fund it’s very easy to do. Switches can be submitted by completing and returning a fund switch instruction form or, if registered for online switching, conducting a switch online fast and efficiently.
We've added five new funds (nine including currency variants). The funds are available with immediate effect and are available in the October fund guides and in our interactive fund centre.
Removals - Impacts products: Oracle, Paragon, Quantum, Regular Savings Plan and LifePlan (including Malaysia variants)
Sector: Responsible Investing - Multi-Thematic Funds
The table below outlines the closing fund and the receiving fund we will automatically switch plan owners into.
| Closing fund | OCF** | Receiving fund | OCF** |
|---|---|---|---|
| Sarasin Responsible Global Equity A Acc GBP - GB00B43H4F86 | 1.72% | BMO Responsible Global Equity 1 Acc GBP - GB0030833650 | 1.62% |
Additions - Impacts products: Oracle, Paragon, Quantum, Regular Savings Plan and LifePlan (including Malaysia variants)
Sector: Responsible Investing
The table below outlines the new funds added to the range.
| Fund name | Currency options | Morningstar category | OCF** |
|---|---|---|---|
| Allianz Green Bond AT Acc EUR | EUR | Global Bond - EUR Hedged | 1.14% |
| Allianz Green Bond AT H2 Acc USD | USD | Global Bond - USD Hedged | 1.16% |
| BGF ESG Multi-Asset A2 Acc EUR | EUR | EUR Moderate Allocation - Global | 1.46% |
| BGF ESG Multi-Asset A2 Acc USD Hgd | USD | USD Moderate Allocation | 1.46% |
| Janus Henderson Global Responsible Managed A Acc GBP | GBP | GBP Moderately Adventurous Allocation | 1.70% |
| Nordea 1 Global Stars Equity BP Acc EUR | EUR | Global Large-Cap Blend Equity | 1.79% |
| Nordea 1 Global Stars Equity BP Acc USD | USD | Global Large-Cap Blend Equity | 1.79% |
| RobecoSAM Global SDG Credits DH Acc EUR | EUR | Global Corporate Bond - USD Hedged | 1.01% |
| RobecoSAM Global SDG Credits DH Acc USD | USD | Global Corporate Bond - EUR Hedged | 1.01% |
Notes:
Information contained within these tables is sourced from Morningstar® and is correct as at 11 October 2021.
** Ongoing Charge (“OCF”) includes the Annual Management Charge plus other operational expenses, so better reflects the total costs applied to the fund.