Notification of changes to various BlackRock Global Funds
We have been notified by BlackRock Global Funds ("BlackRock") of changes to a number of its funds. These changes will take effect from 6 May 2025 (the “Effective Date").
AVAILABLE IN OUR DEFINED FUND RANGE PRODUCTS
Change to the statement of investment objective and policy
From the Effective Date, the investment strategy of the the sub-funds detailed in the table below (the "Affected Funds"), will be amended to align with new guidelines from the European Securities and Markets Authority on the use of Environmental, Social and Governance (“ESG”) or sustainability-related terms in funds' names.
From the Effective Date the Affected Funds will apply Paris-aligned Benchmark exclusions, in addition to their existing ESG exclusions. Paris-aligned Benchmark exclusions broadly prohibit investments in companies involved in controversial weapons or tobacco; having violated UN Global Compact principles or OECD Guidelines for Multinational Enterprises; or deriving revenues above certain specified thresholds from coal, oil, gas or electricity generation.
| Affected Fund Name | Affected Fund ISIN | Products Affected in our Defined Fund Range |
|---|---|---|
| BGF Sustainable Energy A2 Acc USD | LU0124384867 | Oracle Paragon Quantum (inc. Malaysia variant) Regular Savings Plan (inc. Malaysia variant) Kudos |
| BGF Sustainable Energy A2 Acc EUR | LU0171289902 | Oracle Paragon Quantum (inc. Malaysia variant) Regular Savings Plan (inc. Malaysia variant) Kudos |
| BGF ESG Multi-Asset A2 Acc USD Hgd | LU0494093205 | Oracle Paragon Quantum (inc. Malaysia variant) Regular Savings Plan (inc. Malaysia variant) LifePlan Kudos |
| BGF ESG Multi-Asset A2 Acc EUR | LU0093503497 | Oracle Paragon Quantum (inc. Malaysia variant) Regular Savings Plan (inc. Malaysia variant) LifePlan Kudos |
In addition, from the Effective Date the investment strategy of the BGF ESG Multi-Asset sub-fund, in its currency variants, will be amended to increase the minimum proportion of investments used to meet ESG investment objectives from 70% to 80%. The sub-fund will also commit to have a superior ESG outcome than its Index, after eliminating at least 25% of the least well-rated securities from it - an increase from the current percentage of 20%.
For full details regarding the updated investment policies of the Affected Funds, please refer to the BlackRock Global Funds Notification opposite.
Changes to the list of Asian Tiger Countries
From the Effective Date, the list of countries contained in the “Asian Tiger countries” definition has been updated to remove Cambodia, Laos and Myanmar and include Sri Lanka, Japan and Mongolia. This change affects the investable universe of the following sub-fund only:
| Sub-fund Name | Sub-fund ISIN | Products Affected in our Defined Fund Range |
|---|---|---|
| BGF Asian Tiger Bond A2 Acc USD | LU0063729296 | Oracle Paragon Quantum (inc. Malaysia variant) Regular Savings Plan (inc. Malaysia variant) LifePlan Kudos Protected Lifestyle |
These changes will take effect automatically and planholders do not need to take any action. We recommend that planholders seek the advice of their usual financial adviser before making any investment decisions.
AVAILABLE IN OUR OPEN-ARCHITECTURE PRODUCTS
A number of BlackRock Global Funds which can be accessed through our portfolio bonds will also be subject to the changes detailed in the BlackRock notification opposite.
For more information on BlackRock Global Funds visit https://www.blackrock.com