Fund Update - Change of tracking index on Euro Index Tracker EUR

Details of the change

The current relevant stockmarket index of the Affected Fund is the Euro Stoxx 50 index. We have decided to change the tracking index of the Affected Fund to the Solactive Euro 50 index with effect from 26 February 2024.

As such the investment objective of the Affected Fund will be updated to:

“The fund aims to mirror the performance of the Solactive Euro 50 index and achieve long term capital growth by investing in a diversified portfolio of equities or equity related securities listed on the Solactive Euro 50 index and wherever possible, in proportion to their weighting in that index.”

The change of tracking index will not fundamentally change the characteristics of the Affected Fund, as both indices track 50 largest companies in the Eurozone. We believe that the Solactive Euro 50 index is more suitable for our investors as it is weighted as per the European UCITS directive 5/10/40 holding restrictions, rather than market weighted. 

The change of tracking index will not change the risk profile of the Affected Fund. The investment policy, fees, charges and currency of the Affected Fund will also remain unchanged.

Alternative fund options

Should policyholders not wish to remain in the Affected Fund following the changes, they can choose to switch into any of the funds available to their policy by completing and returning the Fund switch form then returning to us for processing. Funds to choose from can be found in the fund centre for their product here. 

However, if policyholders are happy to accept the changes to the fund then they do not need to do anything.