Fund merger - Janus Henderson World Select Fund

Reason for the merger

Janus Henderson states that its UK-based World Select Fund shares a number of similarities in investment objective and policy with the Global Equity Fund. It believes the Global Equity Fund is better positioned to benefit from long-term growth trends such as innovation and demographics. Janus Henderson says that the investment strategy used by the managers of the Global Equity Fund has delivered superior performance returns when compared to the World Select Fund, and believe that investors would therefore benefit from having access to the investment process of the Global Equity Fund.

Action to be taken for open-architecture policyholders

On the merger date, holdings will automatically transfer to the equivalent share class of the receiving UK domiciled Janus Henderson Global Equity Fund, unless we are instructed otherwise before this date.

Action to be taken for Preference policyholders

A few days before the merger date, RL360 will transfer holdings to the equivalent share class of the Luxembourg domiciled Janus Henderson Global Equity Fund, unless we are instructed otherwise before this date. 

We have selected the Luxembourg variant of the fund because its ongoing charges per year are more comparable to the merging fund and growth on the fund has been slightly better than its UK domiciled variant. 

Please note that we have now closed the merging fund to any further switches in, but we can accept switches out up to a few days prior to the merger. 

We have written to our Preference policyholders impacted by the merger informing them of the action we will be taking and their option for switching to a new fund if they prefer. Servicing financial advisers will receive a sample of the letter for their information. 

You can view a sample of the policyholder letter opposite along with the Janus Henderson shareholder notification. 

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For more information about Janus Henderson Investors visit www.janushenderson.com/henderson