Withdrawal of Hong Kong authorisation - Janus Henderson Horizon Euro Corporate Bond Fund
As part of a review, Janus Henderson Investors will be withdrawing the Hong Kong authorisation of the fund with effect 31 December 2022.
IMPACTS PREFERENCE HONG KONG POLICYHOLDERS ONLY
- Janus Henderson Horizon Euro Corporate Bond A3 Inc GBP (the “Affected Investment Option”)
Due to lack of demand from investors, the Directors of Janus Henderson Horizon Fund (“the Company”) have decided to withdraw the Janus Henderson Horizon Fund – Euro Corporate Bond Fund, which is the corresponding underlying fund of the above Affected Investment Option in our Hong Kong Preference fund range, from the authorisation of the Securities and Futures Commission (the “SFC”) in Hong Kong. The withdrawal of the SFC’s authorisation will take effect from 31 December 2022. with immediate effect, the underlying fund can no longer be marketed to investors in Hong Kong and the Company will no longer accept any subscriptions into the underlying fund.
Action RL360 will be taking for Preference policyholders
We will therefore be both terminating, and withdrawing SFC authorisation of, the Affected Investment Option for Hong Kong Preference policyholders and have received approval from the SFC for this to take effect from 16 December 2022. We will no longer accept subscriptions and switches into the Affected Investment Option from Hong Kong policyholders and the fund will be formally removed from the fund range for Hong Kong Preference policyholders on 16 December 2022. Policyholders will be switched out of the Affected Investment Option into an alternative fund in the range, as detailed in the table below, on 14 December 2022.
We have written to policyholders impacted by this, informing them of the action we will be taking and their option for switching to an alternative investment option if they wish. Servicing advisers will receive a copy for their information.
| Affected Investment Option | Default Investment Option | |
|---|---|---|
| Name of investment option | Janus Henderson Horizon Euro Corporate Bond A3 Inc GBP | Invesco Euro Ultra-Short Term Debt A Acc EUR |
| ISIN | LU0593293326 | LU0102737730 |
| Currency # | GBP Hedged | EUR |
# Policyholders should note that while the Affected Investment Option is denominated in GBP, the Default Investment Option is in EUR. This means the Affected Invesment Option and the Default Investment Option are subject to different foreign exchange risk exposure, and that any exchange rate movements between these two currencies may affect the policy performance. If your policy currency is not in EUR, your investment will be subject to foreign exchange risk when switched into the Default Investment Option.