CGNU rationalises fund range

CGNU, the company created by the merger of CGU and Norwich Union in May 2000, is rationalising its fund range.

Morningstar.co.uk Editors 29 May, 2001 | 7:13PM
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The unit trusts from the ranges of Commercial Union and General Accident (GA) - which were themselves combined to become CGU – are converting to OEIC subfunds with many merging into existing sub-funds of the Norwich Union OEIC.

The table below shows the changes being made:

Untitled Document

Old unit trusts in

CGU & GA range

 OEIC Range: OEIC subfunds

PPT High Yield

Norwich UK Income Opportunities

PPT Global Success

 Norwich Global Success

PPT Monthly Income Plus

 Norwich Monthly Income Plus

PPT Preference Share

 Norwich Preference Share

CGU UK Index Tracking

 Norwich Blue Chip Tracking

PPT UK Growth

 Norwich UK Growth

PPT UK & General

 Norwich UK Equity

PPT Europe Growth

 Norwich European Equity

PPT Equity Income

Norwich UK Equity Income

PPT Managed

Norwich Portfolio

PPT Global Bond

Norwich Global Bond

PPT Japan Growth &

PPT Far Eastern Growth

Norwich Japan Growth

PPT North America Growth

Norwich US Growth

PPT Oriental Growth &

PPT Far Eastern Growth

Norwich Oriental Growth

PPT Smaller Companies

Norwich UK Smaller Companies

Homemaker

Norwich Portfolio

GA GANDA

Norwich Income & Growth



The new fund range will follow Association of Unit Trusts and Investment Funds guidelines in taking the performance record of the bigger of the two funds. In cases where the original funds are of a similar size the record of the oldest fund is used.

All of the new funds in the above table will take on the Norwich Union performance records except for the Norwich UK Smaller Companies, which will retain the PPT Smaller Companies fund’s history. Changes to the CGU funds have been made while the GA range funds will be rationalised in July 2001.

In addition Norwich Union is making some alterations to its PEP and ISA range:

Untitled Document

Product

Change

Prestige (equity) ISA

closed to new business

Prestige (mini cash) ISA

no mini cash ISA to be offered

Advantage Plus PEP

closed to new business

Norwich Performance ISA

1 new fund added, the Blue Chip Tracking Fund

Norwich Investment ISA

incorporates 5 new funds

Norwich PEP

incorporates 5 new funds

Norwich Global Tracking PEP

closed to new business

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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