Hansard has issued correspondence to all policyholders on 25 May 2017 providing an update on the current status of the funds. The correspondence issued is as follows:

Update concerning the Go Global Opportunity Funds/ Global Quality Selection (the “Funds”)

We are writing to you in connection with the above Funds which are linked to your policy. We last wrote to update you when we were informed by Emerging Asset Management, responsible for the management of the Funds, of the suspension of trading in the Funds on 4 April 2016.

Since our last communication with you, the Funds remain suspended with no further distributions from them having been made. We have regularly sought information from Novium AG, the Funds’ Investment Advisor, to establish what progress has been made to restore liquidity to the Funds, with a view to normal trading resuming and facilitating the settlement of outstanding deal instructions.

We have been advised by Novium AG that the Funds remain suspended and that the assets of the underlying funds (which the funds of funds are invested in), are asset classes which typically take longer periods to sell e.g. participations in companies and properties.

Novium AG has confirmed, if and to the extent that liquidity is restored, deal instructions made by policyholders, or on their behalf, will be settled in chronological order, with the earliest such deal instructions being settled first.

In respect of the Funds, Novium AG has informed us that that a company owned by one of the underlying funds has undergone a public listing on a stock exchange. As a result of this listing, negotiations to sell the Funds’ holdings in this company are underway in order to generate some liquidity for the Funds. Novium AG has estimated that this may occur within the next few months.

We will continue to keep you updated by way of letter as and when pertinent information is made available to us. Our website (at www.hansard.com/news/fund-news) provides short updates in English and Italian as to these Funds’ status and gives the option of registering for updates via email alerts.