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

Colonial First State (CFS) is the issuer of the Ironbark Royal London Concentrated Global Share Fund and the Ironbark Royal London Core Global Share Fund (collectively the "Funds”). Both these funds are   available via the CFS FirstChoice platform and the CFS Edge “Accelerate Funds” menu. The Funds are issued by CFS in its capacity as Responsible Entity and are managed by Royal London Asset Management (RLAM) under a sub-delegation arrangement with Ironbark Asset Management (“Ironbark”). 

In May 2024, CFS were notified that several investment personnel from RLAM who were previously responsible for the management of the investment strategies in question, were leaving to commence a new business. CFS instructed RLAM to manage the funds on a ‘care and maintenance’ basis until a decision had been made about the future management of the funds.  We confirm that the fund’s portfolio exposures under the previous full team have largely remained in place while a process to consider any change of investment manager is underway. 

Ironbark separately issue funds in Australia which are also managed by RLAM (Ironbark Funds).  On 22 August 2024, Ironbark announced the intention to appoint two new investment managers for these Ironbark Funds. 

The CFS issued funds named above are distinctly separate from the Ironbark Funds and CFS will consider decisions about the future management of its funds separately to Ironbark. CFS is listening and taking feedback from financial advisers and other professional investment researchers and in the midst of reviewing several candidate managers.  CFS will provide further updates in due course when a final determination has been made. CFS is closely monitoring the portfolios and have no concerns with RLAM continuing a care and maintenance basis until a decision is made. 

 Further details of the funds can be found below.