Further Update: Ironbark Royal London investment options on CFS FirstChoice & CFS Edge “Accelerate Funds”

In September 2024 we provided a product update outlining that Colonial First State (CFS) was the issuer of the Ironbark Royal London Concentrated Global Share Fund and the Ironbark Royal London Core Global Share Fund (collectively the "CFS Funds”) available via the CFS FirstChoice platform and the CFS Edge “Accelerate Funds” menu and that CFS was considering the future management of these funds in light of personnel departures at Royal London Asset Management (RLAM). The update recognised announcements made by Ironbark Asset Management (Ironbark) in relation to funds issued by Ironbark did not apply to the CFS Funds and noted that CFS had instructed RLAM to manage the funds on 'care and maintenance basis' until such time as a decision is made.   

CFS has since reviewed the actions taken by RLAM since the departure of key staff and CFS is comfortable that; 

• the RLAM Global Equities team retains significant resourcing and several senior appointments have also been made strengthening that resourcing, and  

• the same investment philosophy, processes, controls and technology were retained within RLAM. 

CFS continues to listen and take feedback from financial advisers and other professional investment researchers and is working constructively with several managers. However, given a number of other candidate strategies have only recently been brought to the Australian market, CFS considers it appropriate retain RLAM to manage the fund at this time. CFS will continue to closely monitor RLAM and review this decision again in early 2025 or otherwise as further information comes to hand.   

From 16 November 2024, the fund/investment options names will change from "Ironbark Royal London...." to "Royal London....".   Further details of the funds impacted can be found below.  At the same time ‘care and maintenance’ restrictions will be removed allowing RLAM to manage the CFS Funds under the original investment parameters.

FSF0483AU

FSF0628AU

FSF0555AU

FSF0085AU 

FSF0435AU

FSF0099AU

FSF5065AU

FSF7979AU

AIL1450AU

AIL2619AU

FSF7753AU 

AIL7809AU