RL360 Henderson & Gartmore Fund Changes

Changes to Quantum, Paragon and LifePlan Funds

On 4 April 2011, the Henderson Group PLC acquired the Gartmore Group Limited. For more information on the acquisition please follow the Henderson Acquires Gartmore link.

Royal London 360° holds a range of Gartmore and Henderson funds within our Quantum, Paragon and LifePlan products which have been immediately affected by some of the changes being made to the UK funds.

We are now issuing communications for those affected policies which hold the following funds:

LIFEPLAN
Gartmore MultiManager Balanced
Gartmore MultiManager Cautious
Henderson Multi Manager Balanced

QUANTUM and PARAGON
Gartmore MultiManager Balanced
Henderson Multi Manager Balanced

What’s happening to these funds?

The Gartmore MultiManager Balanced fund will merge into the Henderson Multi Manager Managed fund on 25 April 2011.

The Henderson Multi Manager Balanced fund will merge into the Henderson Multi Manager Managed fund, subject to shareholder approval, on 13 May 2011.

The Henderson Multi Manager Managed fund has been added to the Quantum, Paragon and LifePlan fund ranges and are now available to invest in.

Clients investing in either of these funds, the option is to either accept the merger and be automatically transferred into the Henderson Multi Manager Managed fund or provide instructions for an alternative fund of their choice.

The Gartmore MultiManager Cautious fund, which only features in LifePlan, is merging into the Henderson Multi Manager Income & Growth fund on 25 April 2011. However, because this is a distributing fund (income units), it will not be added to the LifePlan fund range.

In this instance the default course of action will be to transfer policy holdings into the Gartmore Cautious Managed fund, which already features in the range. Should clients not be happy with this, they can provide instructions for an alternative fund of their choice.

What’s happening to other Henderson and Gartmore funds?

Henderson will continue to complete all phases of the integration for the UK fund range by the end of summer 2011. The schedule in relation to the Luxembourg SICAV ranges is yet to be confirmed.

In time the Gartmore name will disappear from the fund names and Gartmore funds will adopt the Henderson brand.

What next?

Clients invested in any of the above funds via Quantum, Paragon or LifePlan will be receiving formal correspondence from us shortly by post. Should you require a copy of the correspondence, please feel free to contact me directly.