Share class closure - 'A' class of Premier Miton Cautious Multi Asset GBP
We have been notified by Premier Miton of its intention to close the A share class of the Premier Miton funds with effect 13 December 2024. We feature the Premier Miton Cautious Multi Asset A GBP fund in our defined fund range for our savings and investment products, which is impacted by this notification.
Share class closure
The Premier Miton Cautious Multi Asset A GBP fund (the "Closing Fund") features in our Savings and Investment defined fund range for the products opposite, which is impacted by the share class closure, as follows.
As part of a review of its fund range, Premier Miton has decided to close the 'A' share classes in the Premier Miton fund range and convert holdings into the corresponding 'B' share class of the funds on 13 December 2024 (the "Conversion Date"). In anticipation of the conversion, Premier Miton has stopped accepting investment into the A share classes with effect from 6 September 2024.
The action we will be taking
We do not feature the B share class of the Closing Fund in our Savings and Investment fund range, therefore, we have reviewed the Fund against similar funds we do feature and will instead be switching unit holdings in the Closing Fund into the Artemis Monthly Distribution R Acc GBP (the "Receiving Fund") on 11 December 2024 (the "Switch Date"), just ahead of the Conversion Date.
As Premier Miton will no longer accept investment into the Closing Fund, we have redirected any regular premium allocation from the Closing Fund into the Receiving Fund with effect from 19 September 2024, to ensure premiums received continue to be invested.
Notification of the closure has been sent to affected plan owners, or their appointed investment adviser, primarily by email, with postal letters sent where we do not hold valid email address. Servicing agents will also be notified. Samples of notifications issued can be found opposite.
If plan owners are not happy with the action we are taking, they can switch their holdings, and redirect premiums, any time and free of charge, into an alternative fund in the Savings and Investment range for their product.
We recommend that plan owners seek the advice of their usual financial adviser before making any investment decisions.
For more information regarding Artemis Fund Managers visit: https://www.artemisfunds.com/