Fund merger - JPM Singapore fund

Reason for the merger

JP Morgan ("JPM") have advised that the JPM Singapore fund (the "merging fund") has not attracted sufficient assets and that they believe the fund has limited prospects for growth. 

The JPM ASEAN fund (the "receiving fund"), has, in the opinion of JPM, the prospect of stronger growth in assets in the future and may potentially benefit from economies of scale, resulting in lower operating and administrative expenses. They also believe that the receiving fund has a broader investment universe and therefore offers the benefit of increased diversification.

Action to be taken for Open-architecture policyholders

On the merger date, any holdings in the merging fund will automatically transfer to the receiving fund, unless we are instructed otherwise before this date. 
 

Action to be taken for Guided-architecture policyholders

On or around the merger date, we will automatically transfer holdings into the receiving fund unless we are instructed otherwise before this date. For regular payment policies, premium allocations will also be redirected to the receiving fund. 

Please note that we have now closed this fund to new business and switches in, but we can accept switches out up to a few days prior to the merger. 

We have written to our guided-architecture policyholders, or their appointed investment adviser, who are impacted by the mergers 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 samples of the policyholder and investment adviser letters opposite along with the JP Morgan notification. 

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For more information about JP Morgan funds visit www.jpmorganassetmanagement.lu/