Notification of changes to the underlying fund of R235 Ninety One Global Environment (USD)
05 May 2022
R235 Ninety One Global Environment (USD)
We have been notified by the Board of Directors of Ninety One Global Strategy Fund (the “Company”) of the following upcoming changes to the underlying fund of the ILP mirror fund. These changes will take effect from 13 June 2022 (the “Effective Date”). The Company have advised that these changes will not affect the way the underlying fund of the ILP mirror fund is managed, or alter its risk or return profile.
Summary of changes
The Company have advised that they are amending the wording in the investment policy of the underlying fund of the ILP mirror fund; in relation to the wording which expresses the minimum period over which the Investment Manager aims to meet the investment objective in years, i.e. ‘at least 5 years’, with the term ‘long-term’.
‘Long-term’ will be defined in the ‘Profile of the Typical Investor’ section of the prospectus of the underlying fund of the ILP mirror fund. The Company have confirmed the below amended wording, which has been extracted from the shareholder circular of the underlying fund of the ILP mirror fund:
‘The Sub-Fund is suitable for an investor who wishes to have the investment exposure as set out in the Sub-Fund’s investment objective and policy and is comfortable taking on the risks as set out in the Appendix 2. This Sub-Fund may be appropriate for an investor whose intended investment horizon is long-term i.e. generally 5 years or more, although an investor can sell at any time (subject to the conditions described in Section 5.5 and 6.8 of this Prospectus). Investing in any fund involves a risk to capital that could be large or small depending on various market conditions and investors must understand this volatility.’
In addition, the wording ‘before allowing for fees’ will be removed from the investment policy of the underlying fund of the ILP mirror fund.
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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.
