Changes to Omnis fund charges

Fund_Update.jpg

In November 2016, we reviewed the expenses for some of our pension funds. This review looked at all expenses/fees that were incurred by the underlying funds they invest in throughout the previous year and the charges that were expected going forward, and then compared it with the charge we were disclosing in our literature. The fund expenses we disclose are estimated, based on the previous year’s actual expenses and an estimate of future expenses over the coming year.

During this review, we found that the expected expenses for some Omnis funds had changed. These changes were effective from 6 December 2016 for the Scottish Equitable versions of the fund and our literature, such as fund factsheets, has been updated to reflect the changes.

What’s changed?

Changes to charges we disclose and the funds affected are detailed in the table below:

Scottish Equitable fund namePrevious Aegon total charge*New Aegon total charge*Difference

Omnis Managed Advanced

1.55%

1.50%

-0.05%

Omnis Managed Balanced

1.45%

1.45%

n/a

Omnis Managed Cautious

1.45%

1.50%

+0.05%

Omnis Multi-Manager Adventurous

2.45%

2.35%

-0.10%

Omnis Multi-Manager Balanced

2.35%

2.35%

n/a

Omnis Multi-Manager Cautious

2.20%

2.15%

-0.05%

Omnis Multi-Manager Distribution

2.20%

2.20%

n/a


*This includes a standard 1% product charge, a fixed management fee and expenses that vary with the day to day costs of running the fund. You may pay a different product charge.


We have an obligation to disclose these charges/expenses as part of our commitment to be fair, clear and not misleading. If we find there’s a significant difference (after rounding to the nearest 0.05%) between what we’re currently disclosing and the actual fund expense, we’ll change what we disclose to customers – either up or down depending on whether we’re currently under or over disclosing.

What does this mean for current investors?

If they’re happy with the new charges, current investors don’t need to do anything. Our fund literature and website have been updated with the new total charges. Nothing else is changing and the fund objectives and risk ratings remain the same.

If you’d like more information, please speak to your financial adviser. If you don’t have a financial adviser, you can find one in your area by going to www.unbiased.co.uk

Investors should be aware that the value of investments can go down as well as up. There’s a risk that they may get back less than they invested.