Notification of changes affecting the underlying fund of R213 Allianz GEM Equity High Dividend

28 Jun 2022

We have been notified by the Board of Directors of Allianz Global Investors Fund (the “company”) of the following change that impacts the underlying fund of the investment-linked policy ("ILP") sub-fund Allianz GEM Equity High Dividend (the “Affected ILP sub-fund”).

The Company has advised that due to an internal re-allocation of resources within the Allianz Group, it is proposed that the investment management functions for the underlying fund of the Affected ILP sub-fund will be transferred from Allianz Global Investors U.S. LLC to AllianzGI – Germany. This change will take effect from 25 July 2022 (the “Effective Date”).

The Company has advised that the investment management change will not: 

• result in a material change to the features and risks applicable to the underlying fund of the Affected ILP sub-fund,
• result in other changes in the operation and/or manner in which the underlying fund of the Affected ILP sub-fund is being managed, or
• materially prejudice the existing Shareholders’ rights or interests.

There will be no change in the fee structure, fees and expenses of the underlying fund of the Affected ILP sub-fund, nor the costs in managing the underlying fund of the Affected ILP sub-fund following the implementation of the change detailed in this notice. The costs and/or expenses incurred in connection with the change detailed in this notice will be borne by the Management Company of the underlying fund of the Affected ILP sub-fund.

For full details regarding the change, please refer to the Allianz notification opposite.

We have contacted policyholders and their financial advisers to notify them of the changes; a sample of which can be found opposite.

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