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Fund removals that affect LifePlan

Following a recent review, two funds have been removed from the LifePlan fund range.

We have just completed a review of some of the investment sectors in our guided-architecture fund range and have decided to remove two funds (6 including currency variants) that no longer satisfy the requirements of the range. With effect from 11 October 2019 these funds are no longer available to new business policies or switches in from existing plan owners wishing to invest in the funds for the first time.


We have written to existing clients, who already hold one or more of these funds within their plan, to give them two months notice of our intention to remove the fund and switch them into an alternative fund within the range. These clients can continue to invest in the closing fund until we switch them out. Switches will take place between 11 and 23 December 2019.


If clients are happy with our choice of receiving fund then they do not need to do anything and will be switched automatically (including any regular payment allocation where applicable). However, if they would prefer to switch to a different fund, it’s free of charge and very easy to do.


Switches can be submitted by completing and returning a LifePlan fund switch instruction form or, if registered for online switching, conducting a switch online fast and efficiently.


The table below outlines the closing funds and the receiving funds we will automatically switch plan owners into.


Samples of the letters issued can be viewed opposite along with the latest Protection Fund Guide, which includes nine new funds (18 including currency variants) which have been added to the LifePlan range. To read more about the new funds which have been added click here.


Closing fund

OCF*

Receiving fund

OCF*

Sector: Global Managed

IFSL Brooks Macdonald Defensive Income B Acc GBP - GB00BVCX4H81

1.91%

IFSL Brooks Macdonald Defensive Capital B Acc GBP - GB00B62WNX98

1.57%

IFSL Brooks Macdonald Defensive Income B Acc EUR - GB00BVCX4K11

1.96%

IFSL Brooks Macdonald Defensive Capital B Acc EUR - GB00BVCX4N42

1.62%

IFSL Brooks Macdonald Defensive Income B Acc USD - GB00BVCX4J06

1.96%

IFSL Brooks Macdonald Defensive Capital B Acc USD - GB00BVCX4M35

1.62%

Carmignac Patrimoine A Acc EUR - FR0010135103

1.85%

Credit Suisse (Lux) Portfolio Balanced B Acc EUR - LU0091100973

1.64%

Carmignac Patrimoine A Acc CHF Hdg - FR0011269596

1.85%

Credit Suisse (Lux) Portfolio Balanced B Acc CHF - LU0078040838

1.63%

Carmignac Patrimoine A Acc USD Hdg - FR0011269067

1.85%

Credit Suisse (Lux) Portfolio Balanced B Acc USD - LU0078041133

1.65%


* Ongoing Charge (“OCF”) includes the Annual Management Charge plus other operational expenses, so better reflects the total costs applied to the fund.