Hard Closure of J72 Templeton Global Fund

Closing Fund

Default Fund

Fund name

Templeton Global

Fidelity Global Dividend

Fund Code

J72

L46

Currency

USD

USD

Investment objective of the underlying fund

The underlying fund aims to increase the value of its investments over the medium to long term.

The underlying fund invests principally (that is, at least two-thirds of the underling fund’s net assets) in:

• equity securities issued by companies of any size located in any country, including emerging markets

In exceptional market circumstances (such as extreme volatility) and on a temporary basis only, 100% of the underlying fund’s net assets may be invested in liquid assets, with due regard to the principle of risk spreading.

The underlying fund can invest on an ancillary basis in:

• preferred stock, securities convertible into common stock and fixed income securities

The investment team uses in-depth analysis to select individual equity securities that it believes are undervalued and will provide the best opportunities for increased value over the long term. For the purpose of generating additional capital or income or for reducing costs or risks, the underlying fund may engage in securities lending transactions for up to 50% of its net assets, in a manner that is consistent with its investment policy. For the avoidance of doubt, any securities lending will be an ancillary activity of the underlying fund only.

The underlying fund is an Equity fund and aims to achieve income and long-term capital growth principally (i.e. at least 70% (and normally 75%) of the underlying fund's assets) through investments in income producing equity securities globally.

For the remaining assets, the investment manager of the underlying fund has the freedom to invest outside the underlying fund’s principal geographies, market sectors, currency or asset classes.

As this underlying fund may invest globally, it may be exposed to countries considered to be emerging markets.

As the underlying fund may invest globally, it may invest across different countries and regions. It is unconstrained in the amount it may invest in any single country or region.

In selecting securities for the underlying fund, several factors are considered in the investment process; for example, consideration may include, but is not limited to, a company’s financials, including revenue and profit growth, return on capital, cash flows and other financial measures. In addition, company management, industry and economic environment, and other factors may be considered in the investment process.

The underlying fund may invest in assets directly or achieve exposure indirectly through other eligible means including financial derivative instruments (“derivatives”). Such derivatives may include over-the-counter and/or exchange traded instruments such as futures, contracts for difference, equity swaps, options such as puts, calls and warrants, forwards, non-deliverable forwards and currency swaps. The underlying fund may use derivatives with the aim of risk or cost reduction or to generate additional capital or income (including for investment purposes), in line with the risk profile of the underlying fund.

The underlying fund will not invest more than 10% of their net asset value in securities issued by or guaranteed by any single country (including its government, a public or local authority of that country) with a credit rating below investment grade.

The underlying fund will not engage extensively in securities lending, repurchase and reverse repurchase transactions.

Ongoing Charges Figure (OCF) of the underlying fund

1.83%

The ongoing charges figures are based on the annual financial statements for the period ended 30 June 2019. These figures may vary from year to year.

1.89%*

The ongoing charges figure represents the ongoing expenses based on the annual financial report for the year ended 30 April 2019. This figure may vary from year to year.

Risk profile

(determined by Friends Provident International for reference only)

5

4