Closure of Invesco UK Smaller Companies Equity (UK) fund
We regularly review the funds available to our unit-linked fund ranges to ensure that plan owners continue to have access to a high quality and diverse range of funds, to help them meet their investment goals.
ONLY IMPACTS THE DEFINED FUND RANGE PRODUCTS LISTED OPPOSITE
Our review process considers the performance and risk profile of funds within the ranges to determine whether they continue to provide the right outcomes for investors and remain appropriate for the products. We have recently completed a review of the UK Small Cap Equity funds in the Equity UK sector in our defined fund ranges, resulting in a decision to remove the Invesco UK Smaller Companies Equity (UK) fund (the “Closing Fund”) on 25 June 2025.
How this impacts plan owners invested in the Closing Fund
On 25 June 2025 (the “Switch Date”) holdings in the Closing Fund will be automatically switched (and any regular payment allocation redirected where applicable) into an alternative fund available to the products as follows:
| Impacted Products | Closing Fund and ISIN | Receiving Fund and ISIN |
|---|---|---|
| Regular Savings Plan and Quantum (including Malaysia variants), Oracle, Paragon, LifePlan and Kudos | Invesco UK Smaller Companies Equity (UK) Acc GBP - GB0033030528 | Fidelity UK Smaller Companies A Acc GBP - GB00B3SW2T17 |
| Protected Lifestyle | Invesco UK Smaller Companies Equity (UK) Acc GBP - GB0033030528 | abrdn Liquidity (Lux) GBP A2 Acc - LU0049015760 |
We have now closed the Closing Fund to new business and switches-in, however, existing investors can remain invested in the Closing Fund until we switch them.
If plan owners are happy with our choice of Receiving Fund then they do not need to do anything, however, if they would prefer to switch to a different fund it is very easy to do, by completing and returning a Fund Switch Instruction form or, if registered for online switching, conducting a switch online fast and efficiently. If they wish to override the automatic switch and premium redirection to the Receiving Fund we must receive alternative instructions by 12noon (UK time) on 23 June 2025.
A table comparing the Closing Fund and Receiving Funds can be found in the relevant sample letter opposite. More information for the Closing Fund and Receiving Fund can be obtained from the Documents tab of the relevant product fund centre. Documents include factsheet, prospectus and the key investor information document which details charges, fund objective and strategy and risks associated with the funds.
Impacted plan owners, or their appointed investment advisers or servicing agents have been contacted either by e-shot, or by letter if no valid email address is available. Sample letters can be found opposite.