Notification of changes to the underlying fund of P63 Janus Henderson Horizon European Growth (USD)
07 Dec 2023
P63 Janus Henderson Horizon European Growth (USD) (the “Affected Mirror Fund”)
We have been notified by Janus Henderson Horizon Fund ("the Company") of various changes to the underlying fund of the Affected Mirror Fund. The changes are effective from 10 November 2023.
Summary of Changes:
The investment policy of the underlying fund of the Affected Mirror Fund has been updated to include the flexibility to invest in equities or equity-related instruments of companies located or listed in the United Kingdom as part of its main investment policy.
The investment strategy of the underlying fund of the Affected Mirror fund has been updated to clarify that the underlying fund may invest in companies of any size but will have a strong bias to medium sized companies.
In order to better reflect the updated investment strategy and revised investment policy, the underlying fund has been renamed to Janus Henderson Horizon Fund - European Growth Fund. The FPIL mirror fund has therefore be renamed accordingly to P63 Janus Henderson Horizon Pan European Mid and Large Cap (USD) with immediate effect.
The reference benchmark used as the basis of the performance comparison and for calculating performance fees will change from the FTSE World Europe ex UK Index (the “Current Benchmark") to the MSCI Europe NR Index (the “New Benchmark"), which is a better representation of the underlying fund’s revised investment policy and a benchmark more commonly used for funds of this type.
Please refer to the Appendix document opposite for further details.
The changes outlined above do not have a material impact on the investment strategy or risk profile of the underlying fund of the Affected Mirror Fund. There is no material change in the operation and/or manner in which the fund is being managed. Policyholders do not need to take any action as a result of the change if they wish to remain invested in the Affected Mirror Fund.
We recommend that policyholders seek advice of their usual financial adviser before making any investment decision.
Should you have any questions regarding these changes, please contact the Investment Marketing team.
