Notification of change to the underlying fund of R230 Blackrock United Kingdom (GBP)

18 Jan 2024

We have received notification from Blackrock Global Funds ("the Company") the following changes to the underlying fund of our R230 Blackrock United Kingdom (GBP) Investment-linked policy sub-fund ("ILP sub-fund"). The change will take effect 23 February 2024 (the “Effective Date”).

Changes to the investment strategy 

From the Effective Date, the Company has advised us that they are enhancing the investment strategy of the underlying fund of the ILP sub-fund to adopt the principles of Environmental, Social and Governance (“ESG”) investing.

Following these changes, the underlying fund of the ILP sub-fund will seek to maximise total return in a manner consistent with the principles of ESG investing and will be considered as promoting environmental characteristics within the meaning of Article 8 under the Sustainable Finance Disclosure Regulations (“SFDR”). The underlying fund of the ILP sub-fund will achieve this by applying exclusionary screens pursuant to the Company’s EMEA Baseline Screens and adopt the Company’s proprietary ‘Fundamental Insights’ methodology to identify companies appropriate for investments on the basis that they are ‘in transition’ and focused on meeting sustainability criteria over time. 

There will be no material change to the risk and return profile of the underlying fund of the ILP sub-fund. It is not expected to affect the overall risk profile, features and the operation and/or manner in which the underlying fund of the ILP sub-fund is being managed.

Please refer to the Appendix in the sample client communication opposite to see in detail the changes.

We recommend that policyholders seek the advice of their usual investment adviser before making any investment decisions.

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

For more information regarding Blackrock Global Funds visit www.blackrock.com