Closures and merger impacting SVS Brooks Macdonald funds

• SVS Brooks Macdonald Blueprint Balanced B Acc EUR Hgd
• SVS Brooks Macdonald Blueprint Balanced B Acc USD Hgd
• SVS Brooks Macdonald Blueprint Cautious Growth B Acc EUR Hdg
• SVS Brooks Macdonald Blueprint Cautious Growth B Acc USD Hdg
• SVS Brooks Macdonald Blueprint Strategic Growth B Acc EUR Hgd
• SVS Brooks Macdonald Blueprint Strategic Growth B Acc USD Hgd
• SVS Brooks Macdonald Defensive Capital B Acc EUR Hgd
• SVS Brooks Macdonald Defensive Capital B Acc USD Hgd

(together the “Closing Funds”)

• SVS Brooks Macdonald Defensive Capital B Acc GBP

(the “Merging Fund”)

CLOSURE OF EUR HEDGED AND USD HEDGED SHARE CLASSES 

(THE “CLOSING FUNDS”)

It has been identified that we did not receive advance notice from Evelyn Partners Fund Solutions Limited (“Evelyn Partners”), the fund management company of the above Closing Funds, of its intention to close the EUR Hedged and USD Hedged share classes and transfer holdings into the GBP share class of the corresponding funds. The effective date of the hedged share class transfers into the GBP share class took place on 28 October 2024 (the “Closure Effective Date”). Evelyn Partners made the decision to consolidate the currency share classes because the hedged share classes are no longer cost effective to operate. It believes that closing these is in the best interests of shareholders.

MERGER OF SVS BROOKS MACDONALD DEFENSIVE CAPITAL B ACC GBP 

(THE “MERGING FUND”)

Additionally, following the completion of the closure and transfer of the EUR and USD hedged share classes into the GBP share classes, Evelyn Partners are planning to conduct a merger of SVS Brooks Macdonald Defensive Capital B Acc GBP (the “Merging Fund”) into the SVS RM Defensive Capital B Acc GBP (the “Receiving Fund”). This is a Sub-fund of the SVS RM Funds ICAV operated by Evelyn Partners and will take place on 31 October 2024 (the “Merger Effective Date”). 

The Merging Fund is a single-strategy fund and the RM Capital Markets Limited investment team has a strong capability and experience with such funds. Evelyn Partners therefore believes that the Merging Fund would be a better fit if it was managed and offered to investors by RM Capital Markets Limited instead, as its research capability will help minimise losses, leading to better investor outcomes.

THE ACTION WE ARE TAKING WITH REGARD TO HOLDINGS IN THE CLOSING FUNDS

In line with the above closures, any plan owner unit holdings in one or more of the Closing Funds have been automatically switched into the corresponding GBP share class. Any regular premium payment being allocated to the Closing Funds has also been redirected into the corresponding GBP share class.

THE ACTION WE ARE TAKING WITH REGARD TO HOLDINGS IN THE MERGING FUND

For LifePlan, Oracle, Paragon, Quantum and Regular Savings Plan (including Malaysia variants) plans

In line with the above merger, any plan owner unit holdings in the Merging Fund will be automatically switched into the SVS RM Defensive Capital B Acc GBP on the Merger Effective Date. Any regular premium being allocated to the Merging Fund will also be redirected.

For Protected Lifestyle plans

As we do not feature the SVS RM Defensive Capital B Acc GBP in the Protected Lifestyle fund range, we will instead switch plan owner holdings into an alternative fund in the range, the abrdn Liquidity (Lux) GBP A2 Acc fund, on the Merger Effective Date. Any regular premium being allocated to the Merging Fund will also be redirected.

If plan owners and appointed investment advisers are happy with the above changes, they do not need to take any action. The changes will happen automatically within impacted plans. However, switches and premium redirections between funds can be instructed at any time, free of charge.

Impacted plan owners, appointed investment advisers, and servicing agents have been sent a notification about the above changes, primarily by e-mailshot, and by posted letter where we do not hold a valid email or for those who prefer to receive correspondence by post. Samples of the letters notificatons issued can be found opposite.