Changes to the Scottish Equitable JP Morgan Asia fund

On 31 March 2015, we changed the fund description for the Scottish Equitable JP Morgan Asia fund in line with changes made by JP Morgan to the underlying fund.

Why we've made the change

The underlying JP Morgan Asia fund now has the ability to invest from time to time in a more concentrated number of companies. The smaller the number of stocks a fund holds, the riskier it is, as each individual holding has a bigger impact on fund performance. However, although risk may be slightly higher at times, we’ve already given this fund a ‘Higher’ risk rating and we believe this is still appropriate.

But, we do think our customers should be aware of the change, so we’ve updated our fund description to reflect the change as shown below.

Previous fund description New fund description
This fund aims to achieve long-term capital growth by investing primarily in the shares of companies quoted or trading in Asia (excluding Japan). This fund aims to provide long-term capital growth by investing primarily in the shares of companies quoted or trading in Asia (excluding Japan), with the ability to be more concentrated from time to time.

What current investors need to do?

Current investors don't need to do anything. Nothing else has changed; the risk rating and charges remain the same.