Change of Investment Policy to underlying fund of P40 Value Partners High-Dividend Stocks Fund

13 December 2016

We have been informed by Value Partners (the “Company”) of a change to the investment policy of the underlying fund into which P40 Value Partners High-Dividend Stocks Fund invests, effective from 05 December 2016.

The Company has advised that the underlying fund may invest in China A Shares through Shenzhen-Hong Kong Stock Connect.

Further details of these changes can be found in the Client letter, which has been sent out to policyholders invested in this fund.

All other details of the underlying fund and the Friends Provident International fund remain unchanged.

Should you have any questions regarding this change, please contact International Funds & Investments.