Rathbone Greenbank Global Sustainability share class conversion (Individual investors)

We are informing you in our capacity as manager of the Rathbone Greenbank Global Sustainability Fund.

The Rathbone Greenbank Global Sustainability Fund offers a number of classes of share into which you can invest. All share classes share the same investments. They may have different characteristics such as whether they pay out or reinvest the income from investments, their requirements for a minimum level of investment, and the fees that are charged.

We have recently introduced a new power in the fund that allows us to move shareholders into a share class with lower fees where we believe it to be in the shareholders’ best interests.

We have recently reduced the minimum investment required to access our S-class shares, and we believe it would be in the best interests of clients to convert investments from the I-class shares  into an alternative, cheaper share class (S-class shares).

How will this change affect my investment?

We will convert your investment from the I-class shares to the S-class shares on 25 October 2021 at which point we will close the I-class. This will result in your paying a lower fee for the same investment.

Current shares

Name Rathbones’ fee
(ACD fee) Other charges Transaction costs Total cost
of your investment I-class
Income Shares 0.75% 0.15% 0.11% 1.01% I-class
Accumulation Shares 0.75% 0.15% 0.11% 1.01%

Replacement shares

Name Rathbones’ fee
(ACD fee) Other charges Transaction costs Total cost
of your investment S-class
Income Shares 0.50% 0.15% 0.11% 0.76% S-class
Accumulation Shares 0.50% 0.15% 0.11% 0.76%

The total cost of investment, shown in the table, is the percentage of all the fees and other payments taken from the fund over a year. At the moment, for every £1,000 you invest, you pay £10.10 per annum in charges for your investment. After we move your investment to the cheaper S-class you will pay £7.60 for every £1000 invested, a reduction of £2.50 per annum.

We do not need you to take any action to complete the conversion from the I-class shares to S-class shares. Once we have completed the conversion, we will write to you with full details of your new holding and how it was calculated. The number of shares you hold may differ but the value of your investment, on the day of conversion, will be the same.

If you feel that the fund no longer meets your needs, you can request to switch to another fund in the Rathbones range free of charge or you can sell back (redeem) your investment. If you wish to use either of these options, please contact us on 020 7399 0399 no later than 18 October 2021.

If you want to convert your investment from the I-class shares to S-class shares earlier than 25 October 2021 you can contact us to do so.

How is the fund changing?

Apart from the closure of the I-class, there are no changes to the fund. The investment objective, investment policy and responsible investment policy of the fund will remain the same. The strategy, process and philosophy of the fund will remain unchanged, as will the fund manager. The fund continues to be managed by David Harrison and run by Rathbone Unit Trust Management, with specialist ethical, sustainable and impact investment research being provided by our sister company Rathbone Greenbank Investments.

What do I have to do next?

You are not required to take any responsive action as a result of this circular. If you are unsure of what this change means, please consult your financial adviser who can provide guidance.

For queries relating to this circular please contact us on 020 7399 0399.