We embarked on a strategic review of our range of investment options in order to reduce complexity and streamline our range of funds.
We embarked on a strategic review of our range of investment options in collaboration with Nedgroup Investments last year. This communication summarises the changes we have made. It also acts as a reminder about the context and background ahead of receiving your investment statement at the end of June. If you have any questions about any of the changes, please speak to your wealth manager.
The goal of the review was to reduce complexity and streamline our range of funds.
This involved the consolidation and merging of certain funds and the alignment and simplification of fund names and fees to make them less complex. At the same time, we also embarked on a ballot process to give affected investors the option to vote for or against some of the proposed investment policy mandate changes.
|Funds not available from 7 June 2021||Funds that are available (and into which any holding of the funds, which are no longer available in the left-hand column of this table, will be merged).|
|Nedgroup Investments Value Fund||Nedgroup Investments SA Equity Fund|
|Nedgroup Investments Growth Fund||Nedgroup Investments SA Equity Fund|
|Nedgroup Investments Private Wealth Small and Mid-Cap Equity Fund||Nedgroup Investments Entrepreneur Fund|
|Nedgroup Investments Private Wealth Satellite Fund of Funds||Nedgroup Investments Select Equity Fund of Funds|
|Nedgroup Investments Private Wealth Cautious Fund||Nedgroup Investments Select Defensive Fund of Funds|
|Nedgroup Investments XS Select Guarded Fund of Funds||Nedgroup Investments Select Defensive Fund of Funds|
For the merging funds, we also processed a special income distribution.
On 4 June 2021 we processed a special income distribution on all funds impacted by the merge to create the unit price after the income distribution. If your choice was to have income distributions reinvested, this would have happened and, similarly, if your choice was to have this paid out, you would have received the income distribution payment.
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