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Base Currency Change - Henderson Horizon Japanese Equity Fund

Impacts on
these products

The Directors of the Henderson Horizon Japanese Equity Fund have taken the decision to change the base currency of the fund due to the fact that the majority of the fund invests in Japanese companies valued in Japanese Yen.


The investment policy of the fund will amended accordingly from: “The Fund is denominated in US$." To “The Fund is denominated in JPY.”


Henderson have stated that the change will not prejudice existing or future investors in the fund and will not result in any change to the fund’s investment objective or alter the investment process favoured by the fund manager.


We have written to policyholders invested in the fund via their Oracle, Paragon or Quantum policy as at 16 October 2014 notifying them of the upcoming change. The only exception being where an investment adviser is appointed on the policy, where they will receive the letter instead of the policyholder. Servicing financial advisers linked to the relevant policies will receive a copy of the letter for their information. Policyholders who choose to invest in the fund after this date will not specifically be written to as our Investment Guides and fund performance bulletins have been updated reflecting that the currency change will be happening.


Do policyholders need to do anything?

If policyholders (or their appointed investment adviser) are happy with the proposed change, they do not need to take any action. They will see a movement within the transaction history of their policy switching from the USD share class to the JPY share class of the fund. The price of the fund in their policy will then change from USD to JPY.


Should policyholders (or their appointed investment adviser) not be happy with the proposed change, they can tell us at any point up until 12 November 2014 to switch into another fund of their choice by returning a completed switch instruction form or if registered as a user of our Online Service Centre and fund switching facility. For those paying regular premiums into their policy, alterations to the premium redirection can also be specified on the Fund Switch form or online.


The fund manager notification and sample letters can be viewed opposite.