Closure of M99 FPIL Deposit

19 July 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, M99 FPIL Deposit (the “Closing Fund”) will be closing. This Closing Fund will be removed from the FPIL mirror fund range from 24 October 2019 (the “Closure Date”). From the Closure Date no new single or regular premium contributions will be permitted into the Closing Fund, whether from new or existing investors. From 18 July 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 M65 Investec GS Sterling Money. Please refer to your client notification letter for further details of the Closing Fund and the Default Fund.

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