Fund Closure - Conservative Real Return Fund
As a result of a review, we will be closing the Conservative Real Return EUR Fund and transferring all holdings into the Cautious Managed EUR-SR Fund on 8 September 2016.
Why is the fund closing?
Following a recent review of our fund ranges we identified that 2 funds had similar investment strategies - the "Conservative Real Return EUR Fund" and the "Cautious Managed EUR-SR Fund".
Both funds are denominated in Euro, have a cautious/medium investment approach and currently invest approximately 60% of their portfolio in a combination of cash and fixed interest assets. However, in comparison the Cautious Managed Fund has experienced stronger growth over the last 4 years.
As a result of the review, we will be closing the Conservative Real Return EUR Fund and transferring all holdings into the Cautious Managed EUR-SR Fund (the ‘receiving’ fund) on 8 September 2016. The switch will be carried out free of charge.
With immediate effect the Conservative Real Return Fund is closed to switches in, however policyholders can still switch out of the fund ahead of the closure date.
Policyholders invested in the closing fund have been written to. Full details, including fund codes for the closing and receiving funds, can be found in the sample letter opposite.
Alternative fund options
Should policyholders not wish to be switched into the receiving fund they can choose to switch into any of the funds available to their policy by completing and returning the relevant switch instruction form.
Details of the funds available can be found in the Fund Centre page for each product. A Switch instruction form can be obtained from the Downloads tab.
However, if policyholders are happy to accept the receiving fund then they do not need to do anything.