Your Questions Answered

So what exacty happened to my Aberdeen funds?

But I'm sure these funds only recently transferred to Aberdeen from Credit Suisse?

I'm concerned as to why Aberdeen decided to sell these funds in the first place?

So why did Premier decide to take on this fund range?

Who manages my funds now?

Will there be any change in the way that my fund is managed?

Is my fund likely to be closed / merged / sold?

If I have any more questions, who should I contact?

Will I notice any changes?

Do I need to take any action?

So what exactly happened to my Aberdeen funds?
Premier has taken on the investment management of two OEICs (Open Ended Investment Companies), previously managed by Aberdeen Unit Trust Managers Limited; the Aberdeen Income Funds ICVC and the the Aberdeen Growth Funds ICVC, which between them are made up of ten individual sub-funds.

On 01 August 2009, Premier took over the day to day investment management of all these funds. On 05 December 2009, Premier took on the full responsibility of ACD (Authorised Corporate Director), at which point the funds were renamed 'Premier' funds.

But I’m sure these funds only recently transferred to Aberdeen from Credit Suisse?
Yes, this is true. You may recall that Credit Suisse (who previously managed your funds) announced the sale of a proportion of its asset management business to Aberdeen Asset Management (AAM) in December 2008, which amounted to some 180 funds in 8 countries. However, after careful consideration, Aberdeen decided to sell part of the ‘retail’ section of this acquisition, which includes the fund(s) in which you are invested.

I’m concerned as to why Aberdeen decided to sell these funds in the first place?
There really is nothing to be concerned about. It was inevitable that there would be some funds within the acquistion that would not necessarily fit as neatly into Aberdeen's existing offerings. After careful consideration, Aberdeen concluded with Premier that the two OEIC umbrellas were a better fit for investors in the funds within Premier's business model. Of the Credit Suisse funds acquired by Aberdeen in June 2009, only 10 out of nearly 200 funds have been acquired by Premier.

So why did Premier decide to take on this fund range?
Premier has, for some time, been building its range of funds. Over recent times, we have been able to attract experienced managers from well known investment groups such as Framlington, Morley (the investment arm of Norwich Union, now Aviva) and Thames River to name a few. The opportunity arose to be able to take on a largely complementary range of funds from Aberdeen that fit very well alongside our own existing range.

Who manages my funds now?
The Funds are now managed by the Premier team – Premier took over the day to day investment management of these funds on 01 August 2009.

As well as your investments being in safe Premier hands, we recently entered into a strategic alliance with Neil Cumming, Dr Bill Mott and the team at PSigma Asset Management, whereby we delegated to them the investment management of the Premier Alpha Income, Alpha Growth, Income and Monthly Income Funds – the latter two being funds that the PSigma team previously managed at Credit Suisse. This was truly great news for investors in these particular funds as Neil and Bill, two highly respected industry names, with their incredible track record and impressive credentials, managed the funds when they were still at Credit Suisse. In effect, investors have been reunited with the original investment managers.

Will there be any change in the way that my fund is managed?
The investment objectives and policies of these funds have not been altered in any way - the funds will be managed within the same parameters and guidelines as before and will invest in familiar stocks with similar asset classes and geographic regions although there may be some re-alignment of portfolios by the new fund managers. We will always ensure that you are given plenty of written notice of any proposals to change the fundamental nature of a fund.

How will the change in management affect the performance of my funds?
The transfer itself will not have a direct impact on the performance of your funds. You need to remember that investment returns are dependent on a wide range of different factors. As with all types of stockmarket investment, just as your investment may enjoy periods of rapid growth, there is always the possibility that your investment could be affected by bleak market conditions. It is important to remember that with any type of stockmarket investment, the value of the units or shares can go down as well as up and past performance is never a guarantee of future performance. All of these funds must be considered as long-term investments. That said, you can rest assured that the investment management team at Premier is extremely experienced and accustomed to managing investments through the most adverse of economic conditions.

Is my fund likely to be closed / merged / sold?
These funds are largely complementary to our existing range. Therefore, Premier has no plans at the moment to sell, close or merge any of the recently transferred funds.

If I have any more questions, who should I contact?
Initially, you may want to have a chat with your usual Authorised Financial Adviser. Then, if you still have more questions, you can contact us in a number of ways - by calling our client services team on 0870 606 6453 or by emailing us at clientservices@premierfunds.co.uk

Will I notice any changes?
The only noticeable changes will be the change in the name of your fund (with a prefix of Premier rather than Aberdeen) and future correspondence, including half yearly statements etc coming from us rather than Aberdeen. With regards to the funds themselves, their objectives, aims and policies, it’s business as usual.

Do I need to take any action?
No. If there is any action that you do need to take further down the line, we will of course write to you directly, giving you plenty of notice.