Changes to the underlying Barings Funds

19 May 2016

We have recently reviewed the share class types of the underlying funds into which a number of Friends Provident International funds invest. As a result of this review, it was deemed to be more appropriate for the funds to invest in the Accumulation share class and therefore we will be switching the underlying assets from Income (“Inc”) to Accumulation (“Acc”) units, with effect from 01 July 2016.

This applies to the following funds:

• P48 Baring Eastern Europe
• J27/R117 Baring High Yield Bond
• M55/R125 Baring Hong Kong & China

Please be advised that there are no costs incurred as a result of this share class change. We also confirm that there are no changes to the Friends Provident International Risk Rating profiles of these funds, and there are no other changes or impacts on you as an investor.

Should you have any questions regarding these changes, please contact International Funds & Investments.