VT Chelsea Managed funds

29 April 2020 - There has been a minor change to the VT Chelsea Managed Monthly Income and VT Chelsea Managed Cautious Growth fund, in that we have changed the fund’s year end from end of April to the end of June.

Please note that this decision was taken at the end of 2019 and is entirely unrelated to Covid-19. We have made this change to help the fund continue to pay a smooth monthly income for 11 months and then the balance of the income in month 12.

Historically, the end of year payment in April has been received by investors in the July. Now the year end payment will be received in September.

Covid-19 update

Thank you for your continued support during this difficult time. With the change of year end your income payment will remain at the current rate until the fund's year end (now in June). This means you will continue to get a smooth payment up until the September payment.

The outbreak of Coronavirus has had a huge impact on economies and companies and, with respect to income, there have been dividend cuts around the globe. The length of the lockdown remains unknown and so it is currently impossible for us to know if there will be any reduction to the income from the VT Chelsea Managed Monthly Income fund and VT Chelsea Manged Cautious Growth, post September.

However, the fund remains well diversified and the income comes from a wide variety of sources and please be assured that the team is working extremely hard to minimise any reduction in income.