Notification of changes to the underlying funds of various Blackrock Global Funds
23 Jan 2024
- L83 Blackrock United Kingdom (GBP) (the “Affected Mirror Fund 1”)
- P56 Blackrock Japan Opportunities (the “Affected Mirror Fund 2”)
(together the “Affected Mirror Funds 1-2”)
We have received notification from Blackrock Global Funds ("the Company") the following changes to the underlying funds of our Affected Mirror Funds 1-2.The change will take effect 23 February 2024 (the “Effective Date”).
Changes to the investment strategy
From the Effective Date, the Company has advised us that they are enhancing the investment strategy of the underlying funds of the Affected Mirror Funds 1-2 to adopt the principles of Environmental, Social and Governance (“ESG”) investing.
Following these changes, the underlying funds of the Affected Mirror Funds 1-2 will seek to maximise total return in a manner consistent with the principles of ESG investing and will be considered as promoting environmental characteristics within the meaning of Article 8 under the Sustainable Finance Disclosure Regulations (“SFDR”). The underlying funds of the Affected Mirror Funds 1-2 will achieve this by applying exclusionary screens pursuant to the Company’s EMEA Baseline Screens and adopt the Company’s proprietary ‘Fundamental Insights’ methodology to identify companies appropriate for investments on the basis that they are ‘in transition’ and focused on meeting sustainability criteria over time.
Changes to the name of Affected Mirror Fund 2
In order to better reflect the name of the underlying fund of the Affected Mirror Fund 2, from the Effective date the Affected Mirror Fund 2 will be named P56 Blackrock Japan Small & Mid Cap Opportunities (USD)
There will be no material change to the risk and return profile of the underlying funds of the Affected Mirror Funds 1-2. It is not expected to affect the overall risk profile, features and the operation and/or manner in which the underlying funds of the Affected Mirror Funds 1-2 is being managed.
Please refer to the Blackrock Global Funds notification opposite to see in detail the changes.
We recommend that policyholders seek the advice of their usual investment adviser before making any investment decisions.
Should you have any questions regarding these changes, please contact the Investment Marketing Team.
For more information regarding Blackrock Global Funds visit www.blackrock.com
