Notification of changes to the underlying fund of J38 Invesco Emerging Markets Equity

19 Dec 2023

We have received notification from the representatives of Invesco Funds SICAV (the “Company”) of the following upcoming changes to the underlying fund of our J38 Invesco Emerging Markets Equity mirror fund (the “Affected Mirror Fund”). These changes will take effect from 1 February 2024 (the “Effective Date”). 

Changes to the investment objective and policy

The Company has advised that from the Effective Date, the China Stock Connect limit of the underlying fund of the Affected Mirror Fund will be increased from 10% to a new upper limit of 20% due to increasing inclusions of China A shares within emerging markets and Asian indices. 

The increase is aimed at providing more investment flexibility to the underlying fund of the Affected Mirror Fund. The Company has advised that the changes are not intended to have a material impact on the risk profile of the underlying fund of the Affected Mirror Fund.

Reduction of Management Fee

From the Effective Date, the management fee (expressed as a percentage per annum of the average Net Asset Value) of the underlying fund of the Affected Mirror Fund will be reduced from 1.00% to 0.90%.

These changes will happen automatically within affected policies and policyholders do not need to take any action as a result of the changes should they wish to remain invested in the Affected Mirror Fund.

 Should you have any questions regarding these changes, please contact the Investment Marketing team.