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'A' share class closure of Kames funds - including Ethical Equity and Ethical Cautious Managed

Kames Capital plc has announced the closure of a number of its 'A' share classes. This includes the Ethical Equity and Ethical Cautious Managed funds ("the closing funds") which feature in our defined fund ranges.

Impacts on
these defined fund range products

Impacts on
open architecture products, including:

  • PIMS
  • Choice
  • Select

Following a recent review, Kames Capital plc ("Kames") will close various 'A’ share classes of their funds on 24 April 2020. Kames will transfer holdings into an alternative share class, however, for our defined fund ranges we will be taking different action for the closing ethical funds.


Action to be taken for our defined fund range plan owners

The closing funds are no longer open to new business and switches in with immediate effect. Existing investors can continue to invest in the closing funds until 3pm (UK time) Wednesday 22 April 2020, at which point holdings will be automatically switched, and any regular payment allocation redirected, into an existing fund available to their plan.


The alternative fund will be the Aberdeen Standard Liquidity (Lux) GBP A2 Acc fund, with the exception of Protected Lifestyle where the alternative fund will be the RL360 GBP Cash Fund.


Both alternative funds are money market funds which are in a different category to the closing funds and have a different investment and risk profile, therefore, it is recommended that investors/appointed advisers review the options that are available in the existing range for their plan and consider if they need to switch to an alternative fund to ensure investment goals continue to be met.


We have written to our defined fund range plan owners, or their appointed investment adviser, who are impacted by the share class closure informing them of the action we will be taking and their option for switching to a new fund if they prefer. Servicing financial advisers will receive a sample of the letter for their information.


Samples of the plan owner and investment adviser letters can be found opposite.


Products

Closing funds

Effective switch date

Receiving fund

Regular Savings Plan, Regular Savings Plan Malaysia, Quantum, Quantum Malaysia, Oracle, Paragon and LifePlan

Kames Ethical Equity A Acc GBP - GB0007452484


Kames Ethical Cautious Managed A Acc GBP - GB00B1N9DX45

23 April 2020

Holdings will be switched into the Aberdeen Standard Liquidity (Lux) GBP A2 Acc - LU0049015760

Protected Lifestyle

Kames Ethical Equity A Acc GBP - GB0007452484


Kames Ethical Cautious Managed A Acc GBP - GB00B1N9DX45

23 April 2020

Holdings will be switched into the RL360 GBP Cash fund


Action to be taken for our open-architecture plan owners

On 24 April 2020, holdings in any of the closing share classes will be automatically transferred into the ‘B’ share class of the same fund, as detailed in the Kames shareholder notification opposite. Should investors wish to transfer holdings to another fund before the closure date we will require receipt of a dealing instruction by 3pm (UK time) on Thursday 23 April 2020 or if registered for online dealing, they can instruct a deal online.



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For more information about Kames Capital visit www.kamescapital.com