Closure of various FPIL funds

11 October 2019

We continually monitor our fund range according to the parameter set out in the FPIL Fund Facts sheets. Following a review, we will be realigning the fund range that is available to our unit-linked products.

Consequently, the FPIL funds named below (the “Closing Funds”) will be closing. These Closing Funds will be removed from the FPIL mirror fund range during Q1 2020 (the “Closure Dates”). From the Closure Dates no new single or regular contributions will be permitted into the Closing Funds, whether from new or existing investors. Until the Closure Dates, only continuing regular contributions will be permitted into the Closing Funds. These ongoing contributions into the Closing Funds may not be increased from their current level.

When an FPIL fund is closed we select another fund from our internal fund range (the “Default Fund”) to act as an alternative investment for the resulting proceeds being switched out of the Closing Fund and for any future contributions that may be directed into the Closing Fund. However, you can choose to switch your current holdings in the Closing Fund(s) and/or redirect your premiums or contributions, into a different fund in the FPIL range from the Default Fund(s) if you wish to do so. You can do this at any time but if you wish to override the transfer or redirection to the Default Fund that we have selected, you must provide us with alternative instructions by 3pm UK time two days before the appointed Closure Date. Please refer to the tables below for more details and your client notification letter.

Closing Fund

Default Fund

Deadline for alternative instructions

Closure Date

R80 DWS Invest Africa

R52 Schroder Middle East

13 January 2020 15 January 2020

P73 Aviva Investors UK Property

P84 Schroder Global Cities Real Estate (GBP) or M65 Investec GS Sterling Money

 

Closing Fund

Default Fund

Deadline for alternative instructions

Closure Date

R71 HSBC GEM Debt Total Return

L04 Templeton Global Total Return (USD)

23 January 2020 27 January 2020

P46 BMO Responsible Global Equity (GBP)

L71 Fidelity Global Focus (GBP) or M65 Investec GS Sterling Money

L57 Aviva Investors Multi-Strategy Target Income (USD HDG)

L48 Invesco Global Targeted Returns (USD HDG)

 

Closing Fund

Default Fund

Deadline for alternative instructions

Closure Date

L25 BMO European Growth & Income (EUR)

J84 Fidelity Euro Blue Chip

05 February 2020 07 February 2020

R79 DWS Invest Global Infrastructure

J06 Investec GS Global Equity

L58 Aviva Investors Multi-Strategy Target Return (GBP HDG)

L48 Invesco Global Targeted Returns (USD HDG)

L49 Aviva Investors Global Convertibles

J01 Invesco Bond

 

Closing Fund

Default Fund

Deadline for alternative instructions

Closure Date

R84 BMO Global Convertible Bond

J01 Invesco Bond or J42 JPM USD Money Market VNAV

19 February 2020 21 February 2020

L56 Aviva Investors Multi-Strategy Target Return (EUR)

L48 Invesco Global Targeted Returns (USD HDG)

 

Closing Fund

Default Fund

Deadline for alternative instructions

Closure Date

L01 BMO Responsible Global Equity (USD)

J74 Investec GS Global Strategic Equity

09 March 2020 11 March 2020

 

Closing Fund

Default Fund

Deadline for alternative instructions

Closure Date

L70 Templeton Emerging Markets Bond

L04 Templeton Global Total Return (USD)*

23 March 2020 25 March 2020

L50 Aviva Investors Global High Yield Bond

L33 PIMCO Global High Yield Bond

L55 Aviva Investors Multi-Strategy Target Return (USD HDG)

L48 Invesco Global Targeted Returns (USD HDG)

 

Should you have any questions regarding these changes, please contact International Funds & Investments.