Closure of R50 Jupiter New Europe
10 December 2018
As part of our Fund Governance process, we regularly monitor our fund range to ensure that we continue to offer a diverse range of investment options. A specialist team reviews each fund to ensure it meets the needs of the international investor. Following an extensive review, we will be realigning the fund range that supports our products.
As a direct outcome of this review, R50 Jupiter New Europe will be closing with effect from 15 March 2019 (the “Effective Date”).
When a fund is closed we select a fund from our internal fund range to act as an alternative investment for the resulting proceeds (the default fund), and in this case, your investment will be switched into P48 Barings Eastern Europe. At the closure date, all existing investments and regular premiums will be redirected into the default fund as advised in the client notification letter.
This change will happen automatically within your policy and you do not need to take any action if you are happy with the default fund we have selected. However, you can choose to switch and redirect your premiums to go into a different fund from our range should you wish to do so before 3pm UK time on 14 March 2019. No Friends Provident International charges will arise from this transaction.
Should you have any questions regarding these changes, please contact International Funds & Investments.