Removal of the BNY Mellon Global Bond fund from the RL360 guided fund range
We have recently completed a review of our Global Fixed Income sector. As a result of the review, we have made the decision to remove the BNY Mellon Global Bond Fund from our guided fund range for unit-linked plan owners.
- BNY Mellon Global Bond A Acc EUR; and
- BNY Mellon Global Bond A Acc USD (together the "Closing Funds")
We regularly review the funds available to our guided fund range 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. The review process considers the performance and risk profile of funds within the range to determine whether they continue to provide the right outcomes for investors and remain appropriate for our products.
We have recently completed a review of our Global Fixed Income sector. As a result of the review, we have made the decision to remove the Closing Funds from the range.
What this means for investors
When we close/remove a fund from the range, we choose an alternative receiving fund for the resulting proceeds. For the Closing Funds, the receiving fund we have selected is the T. Rowe Price Global Government Bond fund, available in both EUR and USD currency (the “Receiving Funds”) to match the currency of both Closing Funds. Holdings will be switched automatically (by matching currency) into the Receiving Funds (including redirection of any regular payment allocation, if applicable) on 30 September 2026 (the "Effective Switch Date").
With immediate effect, the Closing Funds are no longer available for new investment and switches in. However, existing investors can continue to invest in the Closing Funds until we switch them.
A summary comparison of the Closing Funds and the Receiving Funds can be found in the Appendix in the sample letters opposite.
Options for switching to an alternative fund
If impacted investors are happy with our choice of Receiving Funds then they do not need to do anything. However, if they would prefer to switch holdings (and redirect any regular premium allocation, if applicable) to a different fund, it is very easy to do by visiting the relevant online fund centre to select an alternative fund, or funds. Switch instructions can be submitted via a Switch Instruction form, or by completing a switch online, if registered for online switching.
To override a switch into the Receiving Funds, we must receive alternative switch instructions by 9am (UK time) on 29 September 2026.
Impacted plan owners, or their appointed investment advisers, have been contacted either by e-shot, or by letter if no valid email address is available. Servicing agents have also been contacted.