Fund removals that affect Quantum, Oracle and Paragon
With effect 4 February 2013, and following our annual fund review, 5 funds will be removed from the fund ranges.
We have just concluded our annual fund review and after in-depth analysis we have decided to remove 5 funds that no longer satisfy the requirements of the range. With effect from 4 February 2013 these funds will not be available to newly issued policies and will not be available to existing policyholders wishing to invest in the funds for the first time.
A letter will be sent to existing clients who already hold 1 or more of the 5 funds within their policy, providing them with 3 months notice of our intention to remove them from the range. These clients can continue to invest in the funds during the next 3 months but must then make a decision regarding an alternative fund selection.
If we have not received instructions regarding an alternative fund selection by 10 May 2013, we will automatically switch clients out of the funds being removed and into another fund within the range. Regular premiums will also be redirected.
The table below outlines the funds we will automatically switch policyholders into on the 10 May 2013 where we have not received alternative instructions.
| FROM: Fund being closed | AMC | TO: Alternative fund | AMC |
|---|---|---|---|
| Sector: Equity – Emerging Markets | |||
| BNP Paribas L1 Equity World Emerging USD | 1.75% | Threadneedle Global Emerging Markets USD | 1.50% |
| Parvest Equity BRIC USD | 1.75% | Schroder ISF BRIC USD | 1.50% |
| Sector: Equity – Single Country | |||
| Henderson China Opportunities GBP | 1.50% | GAM Star China Equity GBP | 1.50% |
| Sector: Fixed Interest – Emerging Markets | |||
| BNP Paribas L1 Bond Best Selection World Emerging USD | 1.50% | Aberdeen Global Select Emerging Markets Bond USD | 1.50% |
| Sector: Global Managed | |||
| SWIP Multi-Manager Diversity GBP | 1.25% | Henderson Cautious Managed GBP | 1.25% |
Sample letters can be viewed opposite along with the February Investment Guides, which also detail 13 new funds which have been added to the range. To read more about the new funds which have been added click here