Closure of R07 FPIL International Growth
03 September 2018
As part of our Fund Governance process, we regularly monitor our fund range to ensure that we continue to offer a diverse range of investment options. A specialist team reviews each fund to ensure it meets the needs of the international investor. Following an extensive review, we will be realigning the fund range that supports our products.
As a direct outcome of this review, R07 FPIL International Growth will be closing with effect from 30 November 2018 (the “Effective Date”).
When a fund is closed we select a fund from our internal fund range to act as an alternative investment for the resulting proceeds (default fund), and in this case, your investment will be switched into L71 Fidelity Global Focus / R32 Schroder Global Equity Yield (USD). At the closure date, all existing investments and regular premiums will be redirected into the default fund as advised in the client notification letter.
This change will happen automatically within your policy and you do not need to take any action if you are happy with the default fund we have selected. However, you can choose to switch and redirect your premiums to go into a different fund from our range should you wish to do so before3pm UK time on 29 November 2018. No Friends Provident International charges will arise from this transaction.
Should you have any questions regarding these changes, please contact International Funds & Investments.