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Insight fund update

Insight recently announced the closure of a number of their funds to new business. We can now bring you full details of the proposal, which will see funds transferred and merged under BNY Mellon's stewardship.

Mergers

Insight has decided to close a number of funds to new business on 31 December 2012. Skandia will close the funds to new business accordingly on that date. In February, subject to unit holder vote, a number of these funds will merge into new funds run by BNY Mellon. Assuming the proposed are approved, Skandia will facilitate the mergers as summarised in the following table.

Merging Funds  Receiving Fund Proposed Merger Date
Insight Diversified Target Return >> Insight Global Absolute Return 11 February 2013
Insight Monthly Income Bond >> Insight Strategic Bond 11 February 2013
Insight Monthly Income >> InsightEquity Income Booster 11 February 2013
Insight UK Dynamic Managed >> InsightEquity Income 11 February 2013
Insight Diversified Dynamic Return >> Insight Global Multi Strategy 11 February 2013
Insight Diversified High Income >> Insight Global Multi Strategy 11 February 2013
Insight Wealth Builder Balanced >> Insight Global Multi Strategy 11 February 2013

Absolute Insight

Absolute Insight (Ap class) will close to all purchases after 31 December 2012 pending a change in ACD to BNY Mellon. The proposed date is Saturday 9 February 2013 and the fund will reopen 11 February 2013.

Absolute Insight UK Equity Market Neutral

Absolute Insight UK Equity Market Neutral is closing to all purchases on Skandia Investment Solutions after 31 December 2012. The current version of this fund will remain closed to new business and will not re-open. Skandia intends launching the clean share class version of this fund, which will be available in the New Year on Charge Basis 3 only. The Skandia Life fund is unaffected and remains open.