Schroders Personal Wealth (ACD) Investment Documentation

Schroders Personal Wealth is a joint venture between Lloyds Banking Group plc and Schroders plc. As part of this joint venture there will be changes to how some funds are administered.

Affected clients were written to on 9th October 2019 and more information is provided below.

What are the changes?

At present the management of funds is undertaken by Scottish Widows Unit Trust Managers Limited (SWUTM) who act as the Authorised Corporate Director (ACD).

On 9th December 2019 the ACD for the Investment Portfolio and Multi-Manager Investment Companies with Variable Capital (ICVCs) will change from SWUTM to Scottish Widows Schroder Personal Wealth (ACD) Limited (Schroders Personal Wealth (ACD)).

This change won’t alter the investment objectives and policies, or the annual management charge of your funds.

There will be some changes to how your Account is administered.

We have listed the 16 funds which are affected by this change below.

What does this mean for you?

Schroders Personal Wealth (ACD) will begin managing the funds, listed below, that you are invested in from 9th December 2019. If your investments are held within an ISA, Schroders Personal Wealth (ACD) will become your ISA Manager from 9th December 2019.

What do you need to do?

SWUTM wrote to all affected clients on 9th October outlining the options available.

To help support you in making the decision on who should manage your investments going forward we have published the Supplementary Investor Information Document (SIID) and the prospectuses for the funds being transferred to Schroders Personal Wealth (ACD) below.

If you’re happy with these changes you don’t need to do anything.

All Schroders Personal Wealth (ACD) documents are effective as from 9th December 2019.

Fund NameSIIDProspectus
Defensive SolutionMulti-Manager and Investment Portfolio Investment Companies with Variable Capital (ICVCS)Investment Portfolio ICVC
Cautious Solution
Discovery Solution
Strategic Solution
Dynamic Solution
Adventurous Solution
Balanced Solution
Asset Allocator Fund
IPS Growth Portfolio
IPS Income Portfolio
IPS Higher Income Portfolio
MM Global Real Estate SecuritiesMulti-Manager ICVC
MM International Equity Fund
MM UK Equity Income Fund
MM UK Equity Focus Fund
MM UK Equity Growth Fund

Notes:

There are no transaction costs involved in the transfer of the funds from SWUTM to Schroders Personal Wealth (ACD). In the normal course of business transaction costs are incurred by the funds when the fund managers buy and sell investments. Please refer to the Scottish Widows Transaction Costs (56336) document for the transaction costs for your fund(s).

Link to MM funds literature - https://www.scottishwidows.co.uk/kiids/kiids-swutm-nov14.html
Link to Solution funds literature https://www.scottishwidows.co.uk/kiids/kiids-swfunds.html