Standard Life (Asia) Limited (662679) is registered in Hong Kong at 12/F, Lincoln House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong. Authoirsed by the Insurance Authority of Hong Kong to write Class A, Class C and Class I long term business in Hong Kong.

標準人壽保險(亞洲)有限公司(662679)的註冊公司地址為香港鰂魚涌英皇道 979 號太古坊林肯大厦 12 樓，其已獲香港的保險業監管局授權於香港承保 A 類、C 類及 I 類之長期業務。

Date: 2 June 2020

Private and confidential

Policy Plan: [Name of the Policy Plan] (the “Plan”)

Policy Number: [Policy Number of the Policy Holder]

Dear Valued Customer,

As an important notice, please read this letter carefully and seek independent professional advice should you

have any questions about the content.

Various changes to the underlying funds corresponding to the investment choices of Investec Global Strategy

Fund

All defined terms in this letter shall have the same meaning as those defined terms as set out in the Prospectus of

Investec Global Strategy Fund (“GSF”) (the “Prospectus’), unless the context requires otherwise.

Reference Code Name of investment choices

05IE Investec GSF European High Yield Bond Fund - A inc

06IU Investec GSF Global Dynamic Fund - A acc

02IU Investec GSF Global Energy Fund - A acc

03IU Investec GSF Global Gold Fund - A acc

04IU Investec GSF Global Strategic Equity Fund - A acc

07IU Investec GSF Investment Grade Corporate Bond Fund - A acc

(Each an “Investment Choice” and collectively, the “Investment Choices”)

We have been informed by the directors of GSF that the following changes and updates have been made to the

underlying fund corresponding to the Investment Choices of GSF (collectively, the “Underlying Funds”). As the

unitholders of the Investment Choice(s), the following changes applicable to the Underlying Fund(s) may have

implications for your investment.

2

I. Rename of the Investec Global Strategy Fund and the Underlying Funds

The name of the Investec Global Strategy Fund will be changed to Ninety One Global Strategy Fund with effect from 2

June 2020 (the “Effective Date”).

The names of the Underlying Funds will be changed with effect from the Effective Date, and the names of the Investment

Choices will also be updated accordingly, as set out in the table below:

Reference

Code

Type Current After the change

05IE

Name of the

Investment Choice

Investec GSF European High

Yield Bond Fund - A inc

Ninety One GSF European High

Yield Bond Fund - A inc

Name of the

Underlying Fund

Investec Global Strategy Fund

- European High Yield Bond

Fund

Ninety One Global Strategy

Fund - European High Yield

Bond Fund

06IU

Name of the

Investment Choice

Investec GSF Global Dynamic

Fund - A acc

Ninety One GSF Global

Dynamic Fund - A acc

Name of the

Underlying Fund

Investec Global Strategy Fund

- Global Dynamic Fund

Ninety One Global Strategy

Fund - Global Dynamic Fund

02IU

Name of the

Investment Choice

Investec GSF Global Energy

Fund - A acc

Ninety One GSF Global Energy

Fund - A acc

Name of the

Underlying Fund

Investec Global Strategy Fund

- Global Energy Fund

Ninety One Global Strategy

Fund - Global Energy Fund

03IU

Name of the

Investment Choice

Investec GSF Global Gold

Fund - A acc

Ninety One GSF Global Gold

Fund - A acc

Name of the

Underlying Fund

Investec Global Strategy Fund

- Global Gold Fund

Ninety One Global Strategy

Fund - Global Gold Fund

04IU

Name of the

Investment Choice

Investec GSF Global Strategic

Equity Fund - A acc

Ninety One GSF Global

Strategic Equity Fund - A acc

Name of the

Underlying Fund

Investec Global Strategy Fund

- Global Strategic Equity Fund

Ninety One Global Strategy

Fund - Global Strategic Equity

Fund

07IU

Name of the

Investment Choice

Investec GSF Investment

Grade Corporate Bond Fund -

A acc

Ninety One GSF Investment

Grade Corporate Bond Fund - A

acc

Name of the

Underlying Fund

Investec Global Strategy Fund

- Investment Grade Corporate

Bond Fund

Ninety One Global Strategy

Fund - Investment Grade

Corporate Bond Fund

3

II. Performance Comparison Benchmarks

New regulatory guidance relating to funds domiciled in Europe and authorised as ‘UCITS’1, was recently published. As

a result, GSF has included the benchmark indices it compares the performance of each of the Underlying Funds against

(‘Performance Comparison Benchmarks’). These Performance Comparison Benchmarks can help you evaluate if the

Underlying Funds are meeting their investment objectives.

In some instances, these Performance Comparison Benchmarks may already be disclosed in the GSF prospectus as

being used for risk management purposes for the Underlying Fund. However, in some instances the Performance

Comparison Benchmarks may be different.

The benchmark index(ices) used for performance comparison purposes for each of the Underlying Funds have already

been or will be disclosed in the revised Prospectus, the relevant revised Supplement for Hong Kong Investors to the

Prospectus and the revised Product Key Facts Statements accordingly. Please refer to the aforementioned documents

for details about the benchmark index(ices).

III. Change of investment policy of the Underlying Fund corresponding to Investec GSF European High Yield

Bond Fund - A inc2 (Reference Code: 05IE)

The change of investment policy of the Underlying Fund, which will take place on the Effective Date , is to expand on

the types of bonds in which the Underlying Fund are permitted to invest within its primary investment policy. The

Underlying Fund aims to provide an income and capital return in excess of that which is generated by prevailing

European high yield bond indices over the long term by investing primarily (at least two thirds) in Euro and Sterling

denominated fixed interest bearing instruments.

Within this primary policy the Underlying Fund actively invests at least two thirds of its assets in high yield bonds issued

in the Eurobond, Sterling domestic and Euro domestic markets which pay a fixed rate of interest. Outside of this primary

policy the Underlying Fund may also invest on an ancillary basis in high yield bonds issued in these markets which may

pay a variable or floating rate of interest.

The Investment Manager of the Underlying Fund wishes to provide the Underlying Fund with the flexibility to invest in

high yield bonds which may pay a variable or floating rate of interest in order to maximise the investment opportunities

available to the Underlying Fund. Therefore, GSF is taking the opportunity to change the primary investment policy of

the Underlying Fund to permit investment primarily in high yield bonds which may pay a variable or floating rate of

interest in addition to high yield bonds, which pay a fixed rate of interest.

Current investment policy New investment policy

The Underlying Fund seeks to achieve its objective by

investing primarily in a diversified portfolio of European

currency (i.e. Euro and British Pound Sterling)

denominated higher interest rate bearing fixed interest

securities (which may be Investment Grade and Non-

Investment Grade) issued in the Eurobond, Sterling

domestic and Euro domestic markets by issuers around

the world and derivatives which offer exposure to such

securities. The currency mix of denominations may be

varied, reflecting the Investment Manager’s assessment

of likely exchange rate movements at any time.

The Underlying Fund seeks to achieve its objective by

investing primarily in a diversified portfolio of European

currency (i.e. Euro and British Pound Sterling)

denominated higher interest rate bearing fixed interest

debt securities (which may be Investment Grade and

Non-Investment Grade) issued in the Eurobond, Sterling

domestic and Euro domestic markets by issuers around

the world and derivatives which offer exposure to such

securities. The currency mix of denominations may be

varied, reflecting the Investment Manager’s assessment

of likely exchange rate movements at any time.

Please note that the change to the investment policy as a result of the expansion on the types of bonds in which the

Underlying Fund is permitted to invest neither changes the Investment Manager’s investment philosophy and investment

process, nor is expected to alter the risk profile of the Underlying Fund. There will be no change in the operation and

manner in which the Underlying Fund is managed and no adverse effect on existing investors, including no matters/

impacts arising that may materially prejudice the existing investors’ rights or interests.

1 UCITS stands for undertakings for collective investment in transferable securities and is a European directive that provides a

regulatory framework throughout Europe for the management and sale of investment funds to the public. 2 Starting from 2 June 2020, the name of the investment choice will be changed to Ninety One GSF - European High Yield Bond

Fund – A inc.

4

Fees and costs

The above changes will not result in any change in the current level of management fee or other fees charged to the

Underlying Fund(s). The costs associated with the changes, such as legal and mailing costs, are included under the

“Operating and Administrative Expenses” as set out in Section 9.8 of the GSF’s Prospectus. The Management Company

and the Board of Directors of GSF will allocate these operating and administrative expenses across the range of GSF

funds on a fair and equitable basis. For change I, the contribution of each of the Underlying Funds is estimated to be

approximately within the range between US$8 and US$1,736, which is equivalent to 0.00003% of the Underlying Fund’s

net asset value (as at 17 April 2020). For change II, the Underlying Fund’s contribution is estimated to be approximately

US$26, which is equivalent to 0.00003% of its net asset value (as at 17 April 2020). The above arrangements are not

prejudicial to the shareholders of other GSF’s sub-funds.

The above changes will be reflected in a revised Prospectus, a revised Supplement for Hong Kong Investors to the

Prospectus and the revised Product Key Facts Statements of the Underlying Fund(s) accordingly and will be available

on GSF website, www.ninetyone.com/hk*2

Actions to take

You do not have to take any action if you wish to remain invested in the Investments Choices regardless of the above

changes. Otherwise you may wish to consider switching the units of the Investments Choices or redirect future regular

premiums/contributions (if applicable) to other investment choice(s) through the usual application procedure. No

switching fee(s) will be incurred under the current fee structure of your policy.

Investment involves risks. For details regarding the Plan, the investment choices available under the Plan and the

underlying funds corresponding to such investment choices (including, without limitation, the investment objectives and

policies, risk factors and charges), please refer to the latest offering documents of the Plan (in particular the document

named “Investment Choices Brochure”) and the offering documents of the underlying funds, all of which are available

from us upon request and free of charge. You may also visit our website at www.standardlife.hk for investment choices

details.

If you need further assistance, feel free to contact your financial adviser or our Customer Service Department on +852

2169 0300, Monday to Friday, from 9:00 a.m. to 5:30 p.m.

Yours faithfully,

Customer Service Department

Standard Life (Asia) Limited

2* The website has not been reviewed by the Securities and Futures Commission of Hong Kong.

5

私人及機密

保單計劃 ： [保單計劃名稱] (「計劃」)

保單編號 ： [保單持有人的保單編號]

親愛的客戶

此乃重要通知，請細閱本函件內容，如對其內容有任何疑問應諮詢獨立專業人士之意見。

有關連繫至天達環球策略基金的投資選擇相連基金的若干修訂

除非文義另有所指，本信件內所有界定詞彙與天達環球策略基金（「GSF」）發售章程（「發售章程」）內所載的界定詞彙具有相同涵義。

參考代碼 投資選擇的名稱

05IE 天達環球策略基金 - 歐洲高收益債券基金 - A 收益股份

06IU 天達環球策略基金 - 環球動力基金 - A 累積股份

02IU 天達環球策略基金 - 環球能源基金 - A 累積股份

03IU 天達環球策略基金 - 環球黃金基金 - A 累積股份

04IU 天達環球策略基金 - 環球策略股票基金 - A 累積股份

07IU 天達環球策略基金 - 投資評級公司債券基金 - A 累積股份

（各稱為「投資選擇」，統稱為「該等投資選擇」）

我們已獲GSF董事會通知就連繫至天達環球策略基金投資選擇的相連基金（各稱為「該相連基金」，統稱為「該等相連基金」）作出以下變動及更新。作為該（等）投資選擇的單位持有人，應用於該(等)相連基金的變動也可能對您的投資產生影響。

I. 天達環球策略基金及其相連基金名稱的更改

天達環球策略基金的名稱將於2020年6月2日（「生效日期」）更改為晉達環球策略基金。

該等相連基金的名稱自生效日期起更改，而該等投資選擇的名稱亦將會相應更改。如下表載列：

參考

編號

類型 更改前的名稱 更改後的名稱

05IE

投資選擇的名稱 天達環球策略基金 - 歐洲高收益債券基

金 - A 收益股份

晉達環球策略基金 - 歐洲高收益債券基

金 - A 收益股份

相連基金的名稱 天達環球策略基金 - 歐洲高收益債券基

金

晉達環球策略基金 - 歐洲高收益債券基

金

06IU 投資選擇的名稱

天達環球策略基金 - 環球動力基金 - A

累積股份

晉達環球策略基金 - 環球動力基金 - A

累積股份

相連基金的名稱 天達環球策略基金 - 環球動力基金 晉達環球策略基金 - 環球動力基金

02IU 投資選擇的名稱

天達環球策略基金 - 環球能源基金 - A

累積股份

晉達環球策略基金 - 環球能源基金 - A

累積股份

相連基金的名稱 天達環球策略基金 - 環球能源基金 晉達環球策略基金 - 環球能源基金

03IU 投資選擇的名稱

天達環球策略基金 - 環球黃金基金 - A

累積股份

晉達環球策略基金 - 環球黃金基金 - A

累積股份

相連基金的名稱 天達環球策略基金 - 環球黃金基金 晉達環球策略基金 - 環球黃金基金

6

04IU 投資選擇的名稱

天達環球策略基金 - 環球策略股票基金

- A 累積股份

晉達環球策略基金 - 環球策略股票基金

- A 累積股份

相連基金的名稱 天達環球策略基金 - 環球策略股票基金 晉達環球策略基金 - 環球策略股票基金

07IU

投資選擇的名稱 天達環球策略基金 - 投資評級公司債券

基金 - A 累積股份

晉達環球策略基金 - 投資評級公司債券

基金 - A 累積股份

相連基金的名稱 天達環球策略基金 - 投資評級公司債券

基金

晉達環球策略基金 - 投資評級公司債券

基金

II. 表現比較基準

相關機構最近就歐洲註冊和獲認可為「UCITS」1的基金頒佈新監管指引。因此，GSF以比較各相連基金表現的基準指數（「表現比較基準」），助您評估該等相連基金是否達到其投資目標。

在部份情況下，表現比較基準可能已披露於GSF發售章程，用以說明該相連基金的風險管理目的。然而，在部份情況下，表現比較基準可能不同。

各該等相連基金表現的基準指數，其已於或將於經修訂的發售章程、相關經修訂的發售章程的香港投資者補充文件及產品資料概要相應地披露。有關表現的基準指數詳情，請參閱上述的文件。

III. 連繫至天達環球策略基金 - 歐洲高收益債券基金 - A收益股份2 (參考代碼:05IE) 的相連基金的投資政策變更

該相連基金的投資政策將於生效日期作出的變動是擴大該相連基金在其主要投資政策範圍內獲准投資的債券類型。該相連基金透過主要（最少三分之二）投資於以歐元及英鎊計價的定息投資工具，旨在提供長遠超出主要歐洲高收益債券指數的收入及資本回報。

在此主要政策範圍內，該相連基金主動將最少三分之二的資產投資於在歐洲債券、英鎊當地及歐元當地市場發行的定息高收益債券。在此主要政策範圍外，該相連基金亦可以輔助之基礎投資於在這些市場發行的可變利率或浮息高收益債券。

該相連基金的投資經理擬為該相連基金提供靈活性，使其可投資於可變利率或浮息高收益債券，從而可最大限度把握適用於該相連基金的投資機會。因此，GSF藉此機會更改該相連基金的主要投資政策，使該相連基金除了主要投資於定息高收益債券之外，亦獲准主要投資於可變利率或浮息高收益債券。

現時投資政策 新投資政策

該相連基金主要透過投資於一個多元化投資組合，以歐洲貨幣（即歐元及英鎊）計價，並由環球發行人在歐洲債券、英鎊當地及歐元當地市場發行的高息之定息證券（包含投資評級及非投資評級債務證券）及提供投資於該等證券的衍生工具組成，以達致其投資目標。貨幣之比例可根據投資經理對匯率走勢之評估而有所改變。

該相連基金主要透過投資於一個多元化投資組合，以歐洲貨幣（即歐元及英鎊）計價，並由環球發行人在歐洲債券、英鎊當地及歐元當地市場發行的高息之定息債務證券（包含投資評級及非投資評級債務證券）及提供投資於該等證券的衍生工具組成，以達致其投資目標。貨幣之比例可根據投資經理對匯率走勢之評估而有所改變。

請注意，投資政策的變動是由擴大該相連基金獲准投資的債券類型所致，不會改變投資經理的投資理念和投資程序，亦不會改變該相連基金的風險水平。該相連基金的運作及管理方式將不會出現變化，亦將不會對現有投資者構成不利影響，包括不會產生可能嚴重損害現有投資者權利或權益的事項／影響。

成本費用

上述的變動將不會導致該等相連基金目前收取的管理費用或其他費用水平出現任何變化。與實施上述變動的相關成本（法律及郵遞費用等），將包括在GSF發售章程第9.8 節內的「營運及行政費用」。GSF的管理公司及董事局將在公平公正的基礎下於GSF系列基金之間攤分該等營運及行政費用。就變動I而言，各該等相連基金所分擔的費用估計約為在US$8 至US$1,736 的範圍內不等，相當於該相連基金相對的淨資產值0.00003% （截止於2020年4月17日）。就變動II而言，該相連基金所分擔的費用估計約為US$26，相當於該相連基金相對的資產淨值 0.00003%（截止於2020年4月17日）。上述安排不會損害其他GSF系列基金股東的利益。

1 UCTIS 是指可轉讓證券集體投資計劃，是一項為整體歐洲就管理和向公眾銷售投資基金提供監管框架的歐洲指令。 2 由 2020 年 6 月 2 日起，該投資選擇的名稱將更改為晉達環球策略基金 - 歐洲高收益債券基金 - A 收益股份

7

上述變動將相應地在GSF經修訂的發售章程、發售章程的香港投資者補充文件及該等相連基金的產品資料概要中反映。

相關文件可於GSF的網站www.ninetyone.com/hk*1查閱，

應採取的行動

若您欲在上述變動後繼續投資該等投資選擇，您毋須採取任何行動。否則，您可透過一般的申請程序，要求將在該等投資選擇的單位或日後的定期保費/供款(如適用)轉至其他投資選擇。根據您保單內之現時收費基制，投資選擇的轉換將不會被收取任何轉換費用。

投資涉及風險，有關保單計劃、於保單計劃內可供銷售的投資選擇及連繫至投資選擇的相連基金的詳細資料(包括但不限於任何投資選擇的投資目標及政策，風險因素及費用)，您可參閱保單計劃的最新銷售文件(尤其是名為「投資選擇刊物」的文件 )及相連基金的銷售文件，這些文件可按要求向我們索取並不收取費用。亦可同時瀏覽我們的網頁

www.standardlife.hk。

如需進一步協助，請聯絡您的理財顧問，或致電+852 2169 0300 與客戶服務部聯絡，辦公時間為星期一至星期五，上午九時至下午五時三十分。

標準人壽保險(亞洲)有限公司

客戶服務部

謹啟

日期: 2020 年 6 月 2 日

1*此網站並未經證監會審閱。