Notification of closure of Harmony Portfolios Sterling funds

27 Oct 2026

Notification of closure of the below Friends Provident International Limited (“FPIL”) mirror funds:

S236 Harmony Portfolios Sterling Balanced
Z44 Harmony Portfolios Sterling Balanced*

S237 Harmony Portfolios Sterling Growth 
Z45 Harmony Portfolios Sterling Growth*

(together the “Affected Mirror Funds”)

We have received notification from the board of directors of the MGF SICAV (the “Company”) of its intention to close the underlying funds of the Affected Mirror Funds, by way of a merger into alternative funds within the MGF SICAV (the “Proposed Receiving Funds”). 

We do not hold the Proposed Receiving Funds within the FPIL mirror fund range and accordingly, we have taken the decision to close the Affected Mirror Funds ahead of the underlying funds’ redemption deadline. They will be removed from the FPIL mirror fund range from 9 November 2026 (the “Effective Date”). 

With immediate effect, we will stop accepting any new instructions to switch into the Affected Mirror Funds. 

When an FPIL fund is closed we select another fund from our internal fund range (a “Default Receiving Mirror Fund”) to act as an alternative investment for the resulting proceeds being switched out, and for any regular premiums that are currently being allocated into a closing mirror fund.

Please see the table below for details of the Default Receiving Mirror Funds we have selected for each of the Affected Mirror Funds for each region designation:

Rest of the World and UAE Onshore designated policyholders

Hong Kong Offshore*  designated policyholders

Please refer to the Appendix in the region specific Sample Client Communications opposite for comparative information between the Affected Mirror Funds and the corresponding Default Receiving Mirror Funds we have selected.

Whilst appropriate due diligence has been carried out on the Default Receiving Mirror Funds, we do not accept any liability for the future performance of these, or any other FPIL mirror fund.

Only continuing regular premiums will be permitted into the Affected Mirror Funds until the premium redirection date of 6 November 2026 (the “Redirection Date”) and may not be increased from their current level. From the Redirection Date any regular premium allocation to the Affected Mirror Funds will be redirected into the relevant Default Receiving Mirror Funds.

All holdings in the Affected Mirror Funds will be switched into the corresponding Default Replacement Mirror Funds as of the Effective Date, unless alternative instructions are received by 3pm UK time on 6 November 2026.

These changes will happen automatically within impacted policies or contracts and policyholders do not need to take any action if they are happy with the above changes. We recommend policyholders seek the advice of their usual financial adviser before making any investment decisions. 

We have contacted impacted policyholders and their financial advisers to notify them of the fund closures; primarily by e-shot, with letters sent by post where we do not hold a valid email, and to those who prefer to receive letters by post.

Should you have any questions regarding these changes, please contact the Investment Marketing Team.

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Impact on Segregation of UAE Onshore policyholder assets

We recently contacted all UAE Onshore designated policyholders to advise that we would be implementing a segregation of policyholder assets by way of creating new fund variants and switching holdings into the new fund codes with effect 16 November 2026 (the “Segregation Date”). The closure of the Affected Mirror Funds and switch/redirection into the Default Receiving Mirror funds will take place ahead of the Segregation Date.

The UAE Onshore mirror fund variants of the Affected Mirror Funds, listed in our communication of 16 October 2026, will therefore not be created. Holdings in the Default Receiving Funds will automatically be converted to their UAE Onshore variants† as part of the segregation. 

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*Fund applicable to Hong Kong designated policyholders.

† From 16 November 2026 - Fund Code applicable to UAE Onshore designated policyholders:

Q37 Artemis Monthly Distribution (GBP) 

Q38 Jupiter Merlin Balanced Portfolio (GBP)