Closure of L08 LF Miton Cautious Multi Asset (USD)

23 May 2019

We continually monitor our fund range according to the parameters 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. This will result in the closure of some of our FPIL funds, as well as the selection of new FPIL funds that we feel are appropriate to achieve the quality and diversity required by our international investors.

Consequently, L08 LF Miton Cautious Multi Asset (USD) (the “Closing Fund”) will be closing. This Closing Fund will be removed from the FPIL mirror fund range from 22 August 2019 (the “Closure Date”). From the Closure Date no new single or regular contributions will be permitted into the Closing Fund, whether from new or existing investors. From 20 May 2019, only continuing regular contributions will be permitted into the Closing Fund until the Closure Date. These ongoing contributions into the Closing Fund 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. In this case, investments will be switched into R91 Fidelity Multi Asset Open Strategic (GBP) or L41 Schroder Global Multi-Asset Income (USD). Please refer to the client notification letter for further details of the Closing Fund and the applicable Default Fund.

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