Significant fund changes

Threadneedle UK - domiciled funds rename

Withdrawal of UK funds’ documents and translations for marketing materials from EU websites

Following the UK’s departure from the European Union (EU), our UK domiciled funds are no longer marketed in EU countries. As a result, Columbia Threadneedle Investments will no longer provide translations into EU languages of fund documents and marketing materials for sub-funds of Threadneedle Investment Funds ICVC and Threadneedle Specialist Investment funds ICVC (the “Funds”) and they will be withdrawn from our EU websites. These documents include Key Investor Information Documents (KIIDs), factsheets and prospectuses. The changes are effective from 4 July 2022.

View Q&A

Threadneedle (Lux) AGM 2022 Notice and Proxy form

Threadneedle UK Select Fund – Proposed merger

Columbia Threadneedle Investments is proposing to merge the Threadneedle UK Select Fund into the Threadneedle UK Fund. Both are sub-funds of Threadneedle Investment Funds ICVC, an open-ended investment company (OEIC), managed by us. All shareholders in this fund will have the opportunity to vote on the proposed merger. Please see the below documents for further details.

Investment objective and policy updates

We have recently reviewed the information available to investors about our UK-based OEIC (open-ended investment company) funds and, as a result, we’re updating a number of our fund investment objectives and policies. This will provide investors with additional information regarding our investment approach. These updates will take effect from 7 August 2019.

Important changes to the Threadneedle UK Corporate Bond Fund

Significant Fund Changes: UK Overseas Earnings Fund

From the 1 July 2019, we are making changes to the name and the investment objective and policy of the UK Overseas Earnings Fund. The changes include:

Changing its name to UK Equity Opportunities Fund
Broadening and clarifying the wording used to describe the investment objective and policy and includes the addition of the performance benchmark for the purposes of performance comparison.

Important information about the Threadneedle Japan Fund

We would like to inform you that due to a ten-day ‘Golden Week’ holiday period in Japan this year, non-dealing days will be declared on the Threadneedle Japan Fund from Friday 26 April until Monday 6 May 2019 inclusive. This means that investors will be unable to buy, sell, or switch shares in the Fund during this period until it reopens for dealing on Tuesday 7 May 2019. Further information can be found below.

Co-management and Delegation Arrangements

From the 21 May 2019, we are making changes to the TIF Asia Fund, TSIF China Opportunities Fund and TSIF Global Emerging Markets Equity Fund.

The Funds are currently managed by Threadneedle Asset Management Limited (TAML), the investment manager of the Funds. The changes are as follows:

Threadneedle Asia Fund and Threadneedle China Opportunities Fund (co-management)
TAML will delegate some of its investment decisions to Threadneedle Investments Singapore (Pte.) Limited (TIS) for the Threadneedle Asia Fund and Threadneedle China Opportunities Fund. This will allow both co-managers and deputy managers from the Singapore office for these funds working in collaboration with TAML appointed fund managers.
Threadneedle Global Emerging Markets Equity Fund
Columbia Management Investment Advisers, LLC (CMIA) will become the investment manager for the Threadneedle Global Emerging Markets Equity Fund. TAML will no longer be the investment manager but will continue to provide investment advice and recommendations in relation to the Fund. This change will allow both lead and deputy managers from the US offices for this Fund.

Brexit Update: EU and non-UK Investors in Threadneedle OEIC¹ Funds

We are providing an update on our Brexit preparations and the continuity of investment management services following the UK’s departure from the European Union.

When the UK leaves the EU, we expect that OEIC funds will lose their UCITS² status. As far as we are aware there is currently nothing prohibiting EU and non-UK investors from remaining in an OEIC fund.

While uncertainty remains regarding the UK’s departure from the EU, Columbia Threadneedle Investments has a comprehensive contingency planning programme in place to prepare for any potential impacts.

¹ OEIC stands for open-ended investment company.
²UCITS stands for Undertakings for Collective Investment in Transferable Securities. UCITS provides a harmonised regulatory regime for the management and sale of mutual funds within the European Union.

Threadneedle American Select Fund OEIC

From the 15 April 2019, we are making changes to the investment objective and policy of the Threadneedle American Select Fund. The new wording will make clear that at least 75% of the Fund will be invested in companies based specifically in the United States (US), or with significant US business operations. At the same time, the management team will be able to invest up to 25% of the Fund in companies outside the US.

Scheme of Arrangement: The Lux Funds

We recently informed you that we will transfer the assets of certain share classes of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range. Please note these changes do not impact GBP share classes.

American Extended Alpha Fund
Asia Fund
Global Extended Alpha Fund
Global Select Fund
UK Absolute Alpha Fund

We are pleased to confirm that the transfers have now been successfully completed. Further information can be found below.

Scheme of Arrangement EGM Update

We recently informed you of our proposal to transfer the assets of certain share classes of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range. Following the shareholder vote at the extraordinary general meetings held on 12 December 2018, we can confirm that the proposed transfers have now been approved.

American Extended Alpha Fund
Asia Fund
Global Extended Alpha Fund
Global Select Fund
UK Absolute Alpha Fund

Scheme of Arrangement: The Lux Funds

American Smaller Companies Fund (US)
European Smaller Companies Fund
Global Emerging Markets Equity Fund
Global Equity Income Fund

We are pleased to confirm that the transfers have now been successfully completed. Further information can be found below.

Scheme of Arrangement: The Lux Funds

American Fund
American Select Fund
European Select Fund
UK Equity Income Fund
UK Fund

We are pleased to confirm that the transfers have now been successfully completed. Further information can be found below.

Transfer of Customer Assets (Scheme of Arrangement)

We have written to investors about a proposed change to the following funds.

American Extended Alpha Fund
Asia Fund
Global Extended Alpha Fund
Global Select Fund
UK Absolute Alpha Fund

We are planning to transfer the assets of investors in certain share classes of each fund listed above into an equivalent share class within our established Luxembourg fund range. The transfers will be made by a process called a scheme of arrangement.

Scheme of Arrangement EGM Update

We recently informed you of our proposal to transfer the assets of certain share classes of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range.

American Smaller Companies Fund (US)
European Smaller Companies Fund
Global Emerging Markets Equity Fund
Global Equity Income Fund

Following the shareholder vote at the extraordinary general meetings, the results of the vote are detailed in the investor letter below.

Cross-border Mergers: Threadneedle Credit Opportunities Fund

We recently informed you that we will transfer the assets of the Threadneedle Credit Opportunities Fund into Threadneedle (Lux) – Credit Opportunities, an equivalent fund within our established Luxembourg fund range. We are pleased to confirm that the transfer was successfully completed on 20 October 2018. Further information can be found below.

Scheme of Arrangement EGM Update

We recently informed you of our proposal to transfer the assets of certain share classes of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range. Following the shareholder vote at the extraordinary general meetings held on 10 October 2018, we can confirm that the proposed transfers have now been approved.

American Fund
American Select Fund
European Select Fund
UK Equity Income Fund
UK Fund

We will be communicating with all impacted clients and outlining the options available to them ahead of the merger date.

Cross-border merger The Lux Funds

We recently informed you that we will transfer the assets of the below listed UK-based funds into an equivalent fund within our established Luxembourg fund range (the “Lux Funds”). We are pleased to confirm that the transfers have now been successfully completed.

European Corporate Bond Fund
European High Yield Bond Fund
Pan European Fund
Pan European Smaller Companies Fund
Pan European Equity Dividend Fund

Further information can be found below.

Guide to Investing (SICAV)

Transfer of Customer Assets (Scheme of Arrangement)

We have written to investors about a proposed change to the following funds.

American Smaller Companies Fund (US)
European Smaller Companies Fund
Global Emerging Markets Equity Fund
Global Equity Income Fund

Transfer of Customer Assets (Scheme of Arrangement)

We have written to investors about a proposed change to the following funds.

American Fund
American Select Fund
European Select Fund
UK Equity Income Fund
UK Fund

Cross-border Merger EGM Update

We recently informed investors of our proposal to transfer the assets of each fund listed below (the “Existing Funds”) into an equivalent fund within our established Luxembourg fund range (the “Lux Funds”). Following the shareholder vote at the extraordinary general meetings (EGMs) held on 24 August 2018, we can confirm that the transfers have been approved for all the affected funds.

European Corporate Bond Fund
European High Yield Bond Fund
Pan European Fund
Pan European Smaller Companies Fund
Pan European Equity Dividend Fund
Credit Opportunities Fund

We will be communicating with all impacted clients and outlining the options available to them ahead of the merger date.

Transfer of Customer Assets (Cross-border Merger)

We have written to investors about a proposed change to the following funds.

European Corporate Bond Fund
European High Yield Bond Fund
Pan European Fund
Pan European Smaller Companies Fund
Pan European Equity Dividend Fund
Credit Opportunities Fund

We are planning to transfer the assets of each fund listed above into an equivalent fund within our established Luxembourg fund range. The transfer will be made by a process called a ‘cross-border merger’.

Compulsory Share Class Conversion

Transfer of EU Customer Assets to Our Luxembourg Fund Range

On 9 May we announced plans to transfer EU customer assets from our UK OEIC fund range to equivalent funds in our established Luxembourg SICAV range, to best serve European clients after the UK departs from the European Union.

When the UK leaves the EU (and at the end of any transition period), it’s highly likely that UK-based OEIC funds will lose their UCITS status. By transferring assets to our Luxembourg fund range, we can provide certainty for our EU-based investors and ensure they remain in a UCITS-compliant fund, regardless of the final agreement between the UK and the EU.

A total of 20 funds from the Threadneedle OEIC range will be impacted. The transfers are subject to shareholder approval.

For further information please refer to the press release and Q&A.

Changes to Investment Policies of Certain Threadneedle Funds

From 14 May 2018, the funds listed below will be able to invest through Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect (together, Stock Connect) in mainland Chinese shares, called China A Shares.

Which funds are affected by the changes?

The following funds are affected by the changes:

Threadneedle Asia Fund
Threadneedle China Opportunities Fund
Threadneedle Global Emerging Markets Equity Fund
Threadneedle Global Select Fund
Threadneedle Global Extended Alpha Fund
Threadneedle Global Equity Income Fund

Fee Reductions

In our latest review of fees and charges, we identified opportunities to reduce charges on a number of our funds and in certain share classes. These changes will reduce the ongoing charges figures (OCF) and improve value for money for investors. The new fees and charges come into effect from 1 February 2018 and will:

Reduce registrar fees on a number of our UK regulated funds and in certain share classes
Reduce operating expenses on a number of our Luxembourg regulated funds and in certain share classes
Reduce the annual management charge (AMC) on a range of funds and share classes.

View list of funds

Prospectus Changes: Compulsory Conversion

From 1 February 2018 we will be updating our prospectuses to include the ability for us to convert investors’ shares in a fund from one share class of the fund to another share class of that same fund. This is known as compulsory conversion.

We will only apply compulsory conversions if it is in the best interests of investors to do so. Ahead of any compulsory conversions we will write to investors in the Fund to explain what is happening, the reasons for it and to give notice of the date that the change will be taking place and we will explain what you can do if you disagree with the changes we plan to make.

For full details please read the Prospectus update section in the Investor Update.

Change to Management of the Threadneedle Japan Fund

On 1 November 2017 we will be making changes to the way the Threadneedle Japan Fund is managed.

Threadneedle Asset Management Limited (TAML), the investment manager of the Fund, will be able to delegate investment decisions for the Fund to Columbia Management Investment Advisers, LLC (CMIA), which is a US-based investment manager in the Columbia Threadneedle group of companies.

This means that the Fund will benefit from the additional research capability from a large US-based team to complement our strong research base in the UK and US-based fund managers can be involved in making investment decisions for the Fund.