Notification of changes to the underlying fund of R205 Janus Henderson Horizon Funds
07 Sep 2022
We have been notified by Janus Henderson Horizon Fund (the “Company”) of the following upcoming changes to the Janus Henderson Horizon China Opportunities Fund (the “underlying fund”), which is the underlying fund of our Investment-linked Policy sub-fund R205 Janus Henderson Horizon China Opportunities (the “Affected ILP sub-fund”). These changes will take effect on or around 1 October 2022 (the “Effective Date”).
Introduction of firm wide exclusions policy
The Company has advised that from the Effective Date, it intends to adopt a firm wide exclusions policy on all its funds and applies to all investment decisions made by the underlying Investment Manager. The Company has advised that these amendments do not have a material impact on the investment strategy, portfolio composition, or risk profile of the underlying fund of the Affected ILP sub-fund. Please refer to the Sample policyholder letter opposite for full details of the changes.
Classification relating to ancillary liquid assets
The Company has advised that from the Effective Date, the investment policy in the underlying fund's prospectus will be updated to clarify the types of assets which are utilised in favourable market conditions. Under the revised investment policy, an underlying fund may hold up to 20% of its net assets in ancillary liquid assets, such as bank and bank deposits at site. Please refer to the Sample policyholder letter opposite for full details of the changes.
Reduction of the security lending usage levels and update to the collateral management policy for securities lending
The Company has advised that from the Effective Date, the maximum and expected securities lending usage levels of the underlying funds of the ILP sub-fund are being reduced. In addition, the collateral management policy for securities lending, as stated in the underlying fund's prospectus, is being updated to clarify the types of collateral which can be received for securities lending.
The Company has advised that these changes do not affect the investment objective, policy, risk profile, portfolio composition of the underlying fund of the Affected ILP sub-fund, or the way in which it is manages. Please refer to the Sample policyholder letter opposite for full details of the changes.
Update to the names of various legal entities appointed in the prospectus
The Company has advised that as part of the continued integration plans post the 2017 merger of Janus Capital Group and Henderson Group, certain Janus Henderson Legal entities have been renamed and will be reflected in the underlying fund's updated prospectus from the Effective Date. These will also be reflected in the Product Highlight Sheet of the ILP sub-fund. Please refer to the Sample policyholder letter opposite for full details of the changes.
Please contact the Investment Marketing team if you have any queries regarding the above.
