Irish Life’s investment managers regularly carry out reviews on funds and based on their recent review a decision has been made to close some of our Scope funds from September 2016. The reason for these closures is because it is no longer efficient to continue managing these funds due to their small fund size. The funds closing are:
- BancScope/Indexed Banks Fund
- Global Scope
- TeleScope/ Indexed Telecommunications Fund
After these funds close, current and any future payments will switch into either the World Investment Fund or the Indexed World Equities Fund depending on the Scope fund currently invested in.
The World Investment Fund and Indexed World Equities Fund both invest in a large number of shares from around the world. Like the Scope funds we are closing, these funds are also high risk. We have provided a fund description below for the World Investment Fund and Indexed World Equities Fund.
There will be no change in charges as a result of the fund switches described above.
If you have any questions or would like further information on these fund closures, please speak to your financial broker or adviser or contact our Customer Service Team at email@example.com or on 01 704 1010.
Fund description: High risk, Volatility 6
Irish Life Investment Managers have designed these funds to achieve returns in line with world equities. The funds track the FTSE World Index and benefit from ILIM’s ability to track equity indices in an efficient and cost-effective way. The funds are suitable for someone looking for global diversification when it comes to investing in shares. Please note that these are high risk funds, which can go up and down in value over the short term, sometimes by large amounts.