Notification of changes to the underlying funds of various Ninety One funds
07 May 2024
Notification of changes to the underlying funds of:
- R153 Ninety One GS European Equity
- R189 Ninety One GS Global Equity
- R171 Ninety One GS Sterling Money
(Together the “Affected ILP sub-funds”)
We have been notified by the Directors of Ninety One Global Strategy Fund (the “Company”) of the following changes to the underlying funds of the Affected ILP sub-funds. These changes will take effect from 31 May 2024 (the “Effective Date”).
Change to the maximum underlying fund Management Company Fee rate
The Company has advised that there will be an increase to the maximum management company fee (the “Underlying Fund Management Company Fee”) payable to Ninety One Luxembourg S.A., who are the management company of the underlying fund of the Affected ILP sub-fund.
The maximum Underlying Fund Management Company Fee rate that may be charged will increase from up to 0.01% per year to up to 0.02% per year from the Effective Date. However, the actual amount of the Underlying Fund Management Company Fee charged in any year is likely to be between 0.01% and 0.02% per year.
For example, if the maximum Underlying Fund Management Company Fee rate of 0.02% is charged, the effect on the ongoing charges figure (the “OCF”) of an investment will be an increase of 0.01%. For a US$1000 investment, this would be no more than US$0.10 per year.
These changes have happened automatically within affected policies and policyholders do not need to take any action.
We have contacted impacted policyholders and their financial advisers to notify them of the changes; primarily by e-shot, with letters sent by post where we do not hold a valid email, and to those who prefer to receive letters by post.
Should you have any questions regarding these changes, please contact the Investment Marketing Team.
