Notification of closure of various Mirror Funds - Hong Kong Fund Review Phase 2

20 Apr 2026

Only impacts the fund range for Hong Kong Onshore and Hong Kong Offshore designated policyholders

Notification of closure of the below Friends Provident International Limited (“FPIL”) mirror funds:

• H88 Fidelity Europe Equity ESG (EUR)
• H25 Fidelity EMEA
• H78 Templeton Emerging Markets
• H57 Natixis Harris Associates Global Equity
• H91 Schroder Global Equity Yield (EUR)
• H80 Templeton Latin America
• H90 Schroder Global Cities (EUR)

(together the “Closing Mirror Funds”)

We continually monitor our fund range in order to achieve quality and diversity for our international investors. Our review, which may include the addition or removal of funds, aims to provide an updated and comprehensive selection of investment-linked mirror funds to our policyholders. We consider a range of factors, including, but not limited to, underlying fund size, fund performance, investor support for a mirror fund, and on-going suitability for the range. 

As a result of a recent review of the European Equity, Global Emerging Markets Equity, Global Equity, Latin America Equity, and Property fund sectors, the Closing Mirror Funds will be removed from the FPIL fund range from 20 July 2026 (the “Effective Date”).

We will switch existing holding in the Closing Mirror Funds, and where applicable will redirect future regular premium payments, into the following default replacement mirror funds (“Default Replacement Mirror Funds”):

We select the appropriate Default Replacement Mirror Funds based on various factors, which include, but are not limited to, (1) investment objective and strategy, (2) assets mix, (3) risk profile and (4) currency denomination. The Default Replacement Mirror Funds have been chosen as the most similar to the existing Closing Mirror Funds. 

Policyholders should note that Closing Mirror Funds 1, 5 and 7 are denominated in EUR, however their corresponding Default Replacement Funds are denominated in USD. This means there will be a different foreign exchange risk exposure, and that any exchange rate movements between these two currencies may affect the policy performance. If the policy currency is not in USD, the investment will be subject to foreign exchange risk when switching into the Default Replacement Mirror Funds selected.

Further details and comparative information between each Closing Mirror Fund and the corresponding Default Replacement Mirror Fund we have selected can be found in the Appendix in the Sample Client Communication opposite.

Only continuing regular contributions will be permitted into the Closing Mirror Funds with immediate effect, no new single or regular contributions will be permitted into the Closing Mirror Funds, whether from new or existing investors.

From 17 July 2026 (the “Redirection Date”) any premium allocation which would usually be applied to the Closing Mirror Funds will be automatically redirected to the relevant Default Replacement Mirror Fund. All holdings in the Closing Mirror Funds will be switched into the relevant Default Replacement Mirror Funds as of the Effective Date.

The changes above will happen automatically within affected policies/contracts and policyholders do not need to take any action if they agree with the choice of Default Replacement Funds that we have selected. 

We have contacted impacted policyholders and their financial advisers to notify them of the fund closures; primarily by e-shot, with letters sent by post where we do not hold a valid email, and to those who prefer to receive letters by post.

Should you have any questions regarding this notification, please contact the Investment Marketing Team.