Notification of changes to the underlying fund of R153 Ninety One GS European Equity

04 Nov 2022

R153 Ninety One GS European Equity

We have been notified by the Directors of the Ninety One Global Strategy Fund (the “Company”) of the following upcoming changes to underlying fund of the above named investment-linked policy sub-fund ("ILP sub-fund"). These changes will take effect from 30 November 2022 (the “Effective Date”).

Summary of Changes:
From the Effective Date, the underlying fund of the ILP sub-fund will be categorised as a fund promoting environmental and social characteristics, within the meaning of Article 8 under the European Union’s Sustainable Finance Disclosure Regulation (“SFDR”).

The SFDR is part of a package of legislative measures and seeks to strengthen disclosures made by asset managers and certain other financial services firms to their clients on the Environmental, Social and Governance (‘ESG’) characteristics of financial products.
 
As a result, the investment objective and strategy of the underlying fund of the ILP sub-fund will be updated to reflect the new disclosures in the investment policy and additional information on its approach to sustainability. Please refer to the Appendix of the client communication opposite for further details of the changes. 

The Company has advised that the categorisation and related disclosures reflect and clarify how the underlying fund of the ILP sub-fund is currently being managed and does not affect its risk or return profile. There will be no significant restructuring of the underlying fund of the ILP sub-fund’s portfolio, nor will there be any associated transaction costs incurred on the Effective Date as a result of the updates.

The Company is also clarifying the investment objective of the underlying fund of the ILP sub-fund and updating the wording of the investment objective and policy to be more in line with current expectations. These changes are also set out in the Appendix. Again, these updates neither change the underlying Investment Manager’s investment philosophy and investment process, nor is expected to alter the risk or return profile of the underlying fund of the ILP sub-fund.

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