Changes to the underlying fund of P65 Aberdeen Global Asia Pacific Equity
07 November 2018
Friends Provident International Limited (“Friends Provident International”) has been informed by Aberdeen Global (“The Company”), of the increase in the exposure to Mainland China securities of the underlying fund into which P65 Aberdeen Global Asia Pacific Equity invests, which will be effective from 26 November 2018 (the “Effective Date”).
The Company has confirmed:
“With effect from 26 November 2018, and in order to bring more flexibility to the management of the Funds, their investment policies will be amended to reflect an increase in the exposure to such securities, as further explained below.
With regard to Aberdeen Global – Emerging Markets Equity Fund, Aberdeen Global – Asia Pacific Equity Fund, Aberdeen Global – Asian Smaller Companies Fund and Aberdeen Global – Asian Property Share Fund, the maximum allocation to Mainland China securities will also increase from 10% to 30% of the Fund’s respective net assets, although only up to 10% of each Fund’s net assets will be directly invested in Mainland China equities, such that:
“The Fund may invest up to 30% of its net assets in Mainland China equity and equity-related securities, although only up to 10% of its net assets may be invested directly through available QFII and RQFII quotas, the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programme or by any other available means”.
The above Funds will be subject to risks associated with investments made through a QFII / RQFII regime and the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programmes. When investing in eligible China A-Shares through the Shenzhen-Hong Kong Stock Connect, the Funds will also be subject to the risks associated with the Small and Medium Enterprise Board of the Shenzhen Stock Exchange and/or ChiNext Board of the Shenzhen Stock Exchange. These are existing risk factors of the Funds, but they are expected to increase as a result of the increase in the Funds’ intended maximum exposure to Mainland China securities. Please refer to the revised Hong Kong Offering Documents for details of these risks.
For your information, the above change will have no impact on the investment objective of any of the Funds nor their recommended holding periods or risk profiles.”
Should you have any questions regarding these changes, please contact International Funds & Investments.