| Change Details | |
|---|---|
| Title | TIME Investments |
| Type | Suspensions |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 01 April 2025 |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | TIME Investments |
| Fund Names | ARC TIME Commercial Long Income PAIF ARC TIME Commercial Long Income Feeder Trust |
| Type of change | Suspension, Name & Objective Changes |
| Date funds suspended | 11 March 2025 |
| Date name & objective change effective from | 1 April 2025 |
| Is the name & objective change subject to shareholder approval? | Yes - approved |
| Suspension: Direct Debits, Phased Investments Rebalancing - DDs, Phased Investments and Rebalancing will be reapportioned across the other assets in the instruction, or Cash if the suspended fund is the only asset in the instruction. | |
| 2. Name change details | |
| Current Fund Name | New Fund Name |
| ARC TIME Commercial Long Income PAIF ARC TIME Commercial Long Income Feeder Trust |
ARC TIME Property Income PAIF ARC TIME Property Income Feeder Trust |
| 3. Investment objectives - ARC TIME Property Income PAIF (Master fund) | |
| Previous objective | To offer Shareholders a consistent income stream with some capital growth prospects through acquiring property with long leases including commercial freehold ground rents and commercial freehold property which benefit from long leases. Capital will be invested through acquiring property with long leases including commercial freehold ground rents and commercial freehold property which benefit from long leases. Such property assets will be held directly by the fund, unless via interim holding vehicles for the sole purpose to permit completion of an acquisition of property. It is intended that no interim holding vehicles shall be retained by the fund for a duration of more than 24 months. In addition, principally to protect the liquidity of the fund, the fund may also invest and maintain an ongoing portfolio of cash and near cash instruments, together with holdings in other collective investment schemes (regulated and unregulated), which have substantially similar investment objectives to those of the fund. |
| New objective | To offer Shareholders a consistent income stream with some capital growth prospects through acquiring property with long leases and property-related investments. Capital will be invested in acquiring property with long leases, listed property companies - including real estate investment trusts (REITs) – and other property-related assets such as shares of companies engaged in property and property related activities. Indirect property related investments may be in any property sector (including but not limited to industrial, leisure, healthcare, offices and residential). It is expected that the majority of investments will be commercial property-related. The fund’s investment in property with long leases, REITs and property-related assets is typically expected to be in the region of 80% - 90% of the fund’s total assets, although this aggregate may vary as a result of factors such as market conditions. The fund’s direct property holdings, which will usually consist of around 35% - 45% (limited to no more than 50%) of the fund's Net Asset Value and will be in commercial property located in the UK. These assets will be held directly by the fund, unless via interim holding vehicles for the sole purpose to permit completion of an acquisition of property. It is intended that no interim holding vehicles shall be retained by the fund for a duration of more than 24 months. Indirect property holdings being listed equities, REITs and other property-related assets is expected to typically consist of around 45% of the Net Asset Value of the fund and such investments may be in the UK or international. This may vary as a result of factors such as market conditions. At least 15% of the Net Asset Value (i.e. one third of this element) of these indirect property holdings shall be held in REITs. |
| Investment objectives - ARC TIME Property Income Feeder | The Feeder fund invests materially all of its assets into the Master fund and, as a consequence, changes to the Master fund will have an impact on the Feeder fund. |