We have changed two of our Clerical Medical life and pension fund names, to reflect changes made by two of our Investment Partners:
- The CM BNY Mellon American life and pension funds have been renamed as the CM Boston Company US Opportunities Fund.
- The CM UBS UK Smaller Companies life and pension funds have been renamed as the CM UK Smaller Companies Fund.
BNY Mellon has changed the name of the underlying fund which we link to: the BNY Mellon American Fund has been renamed as The Boston Company
US Opportunities Fund. We are simply changing our fund names to reflect this. There has been no significant impact on how the BNY Mellon fund
is invested, and there has been no change to the fund aims. There have been no changes to the CM funds’ general risks.
As we announced in November 2013, UBS closed their UBS UK Smaller Companies fund on 29th August 2013. As a result of this the CM UBS UK Smaller
Companies life and pension funds are instead now invested wholly in an alternative underlying fund, the Scottish Widows UK Smaller Companies Fund.
The aims, specific risks and charges of the CM UBS UK Smaller Companies life and pension funds were unchanged despite the change of fund manager,
and we wrote to all customers invested in the affected funds and their advisers to explain the changes. We have now taken the opportunity to change
the CM fund names to reflect the change of manager.
Customers and advisers do not need to do anything as a result of these changes, but please note that when searching for up to date factsheets you
will now need to use the new fund names.