Closure of the VAM Fund
We regularly review the funds available to our Savings and Investments 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 the product.
We have recently completed a review of our Global Equity sector in the range and we have made the decision to remove one fund (three including currency variants) (together the “Closing Funds”) shown in the table below:
| Closing Fund | ISIN |
|---|---|
| VAM Fund A EUR | LU0404614934 |
| VAM Fund A GBP | LU0404611757 |
| VAM Fund A USD | LU0297699406 |
What does this mean?
With immediate effect, the Closing Funds are no longer open to new business or switches-in.
We have selected alternative funds (the “Receiving Funds”) that holdings will be switched into automatically (including redirection of any regular payment allocation) on 19 April 2024. Existing investors can remain invested in the Closing Fund(s) you hold until the switch date. The comparison details of the Closing Funds and the Receiving Funds can be found in the Appendix of the sample communication opposite.
If plan owners are happy with our choice of Receiving Fund then they do not need to do anything. However, if plan owners would prefer to switch to a different fund, it's free of charge and very easy to do. Switches can be submitted by completing and returning a Fund switch instruction form or, if registered for online switching, conducting a switch online fast and efficiently.
We recommend that plan owners seek the advice of their usual financial adviser before making any investment decisions.
More information for the Closing Fund and the Receiving Fund can be obtained from the Documents tab of the relevant product fund centre at www.rl360.com/fundcentres. Documents include factsheet, prospectus and Key investor information document which details charges, fund objective and strategy and risks associated to the funds.
We have notified impacted plan owners, or appointed investment advisers if one has been appointed. A sample communication can be found opposite.