| Change Details | |
|---|---|
| Title | Investment Fund Services Limited (IFSL) |
| Type | Other events |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 03 July 2025 |
Date changes effective from
03 July 2025 - Name & objective change, 01 August 2025 - AMC change
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | Investment Fund Services Limited (IFSL) |
| Fund Name | IFSL Marlborough High Yield Fixed Interest |
| Type of change | Name, Objective & AMC Change |
| Date change effective from | 3 July 2025 (Name & Objective) 1 August 2025 (AMC) |
| Is the event subject to shareholder approval? | Yes - Approved. |
| 2. Name change details | |
| Current Fund Name | New Fund Name |
| IFSL Marlborough High Yield Fixed Interest | IFSL Marlborough Global High Yield Bond |
| 3. Investment objectives | |
| Previous objective | To provide income, that is, money paid out from an investment as interest, with the potential for some capital growth, that is, to increase the value of your investment, over a period of 5 or more years, after any charges have been taken out of the fund, however, there is no certainty this will be achieved. At least 80% of the fund will be invested in high yield bonds issued by companies and institutions. These will be sub-investment grade or unrated bonds, which are loans issued by entities which can be more vulnerable to changing market conditions that typically pay higher rates of interest than investment grade bonds. The fund may also invest in investment grade bonds, bonds issued by governments, bonds which may be converted into shares (known as convertible bonds), preference shares, permanent interest-bearing shares and money market instruments (short term loans typically issued by governments and corporations). Whilst the fund will not buy shares in companies there may be times where the fund holds shares following a restructuring of an existing holding. Whilst there is no minimum or maximum exposure to any geographical region, the Investment Manager uses the ICE Bank of America Merrill Lynch European Currency High Yield Constrained (hedged to sterling) Index as a reference point when constructing the portfolio and for risk management purposes, which means the fund has a bias towards European bonds. |
| New objective | To increase the value of an investment over a minimum of 5 years. The Fund will do this through a combination of income received by the Fund, which is money paid out of investments as interest and capital growth, which is profit on investments held. The fund aims to outperform the Bloomberg Global High Yield Corporate Index (GBP Hedged) over any 5-year period, after any charges or expenses have been taken out of the fund. There is no certainty that either aim of the fund will be achieved. At least 80% of the fund will be invested in high yield bonds issued by companies and institutions. These will be sub-investment grade or unrated bonds, which are loans issued by entities that can be more vulnerable to changing market conditions and typically pay higher rates of interest than investment grade bonds. The fund may also invest in investment grade bonds, bonds issued by governments, bonds which may be converted into shares (known as convertible bonds), preference shares, permanent interest-bearing shares and money market instruments (short term loans typically issued by governments and corporations). Whilst the fund will not buy shares in companies, there may be times where the fund receives shares, or has the ability to buy shares, as part of a corporate event on an existing holding. |
| 4. Change to charging structure | |
| Bundled Fund | |
| Previous AMC | 1.50 |
| New AMC | 1.35 |
| Previous TER | 1.43 |
| New TER | 1.43 |
| Current Trail Commission (Charge Basis 1) | 0.35 |
| New Trail Commission (Charge Basis 1) | 0.35 |
| Previous Reimbursed Amount (Charge Basis 2) | 0.35 |
| New Reimbursed Amount (Charge Basis 2) | 0.35 |
| Previous Reimbursed Rebate Rate (Charge Basis 3) | 0.75 |
| New Reimbursed Rebate Rate (Charge Basis 3) | 0.68 |
| Unbundled Fund | |
| Previous AMC | 0.75 |
| New AMC | 0.60 |
| Previous TER | 0.68 |
| New TER | 0.68 |