Ninety One Merger UK Alpha Fund into UK Franchise Fund

Please note that the UK Franchise Fund is currently called the UK Equity Income Fund but will change its name to the UK Franchise Fund effective 23rd January 2026 i.e. the same day as the Merger.

On 12 November 2025, Ninety One Fund Managers UK Limited issued a circular to shareholders in the UK Alpha Fund, together with a notice of an EGM regarding the proposed merger of the UK Alpha Fund into the UK Franchise Fund (currently called the UK Equity Income Fund). This merger was approved by shareholders at the EGM held on 11 December 2025. 

· Dealing in the UK Alpha Fund will cease after the last VP at 12 noon on 22 January 2026.

· The final accounting period for the UK Alpha Fund ends at 12 noon on 23 January 2026, and the fund is XD at this point (investors on the register at this time will qualify for any available income distribution). The merger will take place after the fund goes ‘XD’ at 12.01 pm on 23 January 2026.

· Dealing in the shares allocated as a result of the merger into the UK Franchise Fund will commence on 26 January 2025.

No contract notes are sent confirming the merger transactions, but a confirmation letter will be sent to shareholders within twenty-one days of the merger and details of the number of shares which were held in the UK Alpha Fund together with the number of new shares allocated in the UK Franchise Fund will be available to view via Distributor Online (‘DOLR’) from 26 January 2026. The merger circular can be obtained on our website here:

https://ninetyone.com/-/media/documents/2025/91-oeic-fund-series-i-uk-alpha-fund-merger-proposal-1125-en.pdf

Share Class Mapping:

*Please note that the UK Franchise Fund is currently called the UK Equity Income Fund but will change its name to the UK Franchise Fund effective 23 January 2026 i.e. the same day as the Merger.

Should you have any queries on this communication please contact the SS&C Distributor Client Services Team using the WebChat option below