Significant fund changes

Merger of Threadneedle Multi-Asset Zurich Fund Range into the Zurich Multi-Asset Fund Range

Important Information

On Thursday 9 July 2015, Extraordinary General Meetings (EGMs) were held to enable shareholders of the Funds within the Threadneedle Multi-Asset Zurich fund range to vote on our proposal to merge the Threadneedle Multi-Asset Zurich Funds I to V (the ‘Merging Funds’) with the Zurich Horizon Multi-Asset Funds I to V (the ‘Receiving Funds’). The merger proposal was passed by the required majority for each fund, and therefore the mergers will take place on 18 July 2015. The Threadneedle Multi-Asset Zurich funds will no longer be available for investment from 12 noon on Thursday 16 July 2015.

The proposal is to merge the entire fund ranges, as outlined below. Further details of the mergers can be found in the Zurich Merger Circular in the related documents area

The Merging Funds
The Receiving Funds
Threadneedle Multi-Asset Zurich I
into
Zurich Horizon Multi-Asset Fund I
Threadneedle Multi-Asset Zurich II
into
Zurich Horizon Multi-Asset Fund II
Threadneedle Multi-Asset Zurich III
into
Zurich Horizon Multi-Asset Fund III
Threadneedle Multi-Asset Zurich IV
into
Zurich Horizon Multi-Asset Fund IV
Threadneedle Multi-Asset Zurich V
into
Zurich Horizon Multi-Asset Fund V
Why are we merging the fund ranges?

The Merging Funds were launched in 2013 for promotion by Zurich. Subsequently, in March this year Zurich launched its own multi-asset fund range, the Zurich Horizon Multi-Asset Funds (the Receiving Funds). Both ranges are very similar: each is a fund of funds investing into funds operated by Columbia Threadneedle Investments; each retains the same investment manager, Threadneedle Asset Management Limited; and the Merging Funds and Receiving Funds have investment policies and strategies that are closely aligned.

We believe that it is now in the best interests of investors for the fund ranges to merge for the following reasons:

 

  • Zurich will be promoting the Receiving Funds going forward and will no longer promote the Merging Funds. In practice, this means the receiving funds are likely to attract substantially more assets than the Merging Funds in the future;
  • It is anticipated that the ongoing charges figure for the Receiving Funds will be lower than that of the corresponding Merging Fund (as indicated in Appendix 1 of the circular located in ‘Related Documents’);
  • The overall operational structure of the funds will be simplified and, as such, efficiencies should arise as a result of Zurich directly undertaking the marketing of the Receiving Funds;
  • Each of the Merging Funds has a corresponding Receiving Fund which follows the same risk profiling model and has a similar investment policy, objective and strategy; and
  • Each of the Merging Funds and Receiving Funds has, as mentioned above, the same investment manager.
Further information

Further information 

Full details of the mergers can be found in the Zurich Merger Circular in the related documents section.

Further information on the Zurich Horizon Multi-Asset Funds can be found on the company website

Related Documents

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