Utmost reserves the right to withdraw the availability of any investment option and associated underlying fund from the investment options available.
Fund managers of underlying funds can also withdraw availability of their underlying funds at their discretion.
Utmost will then have to withdraw the availability of the corresponding investment option.
Withdrawal of an investment option and associated underlying fund can either be applicable to future unit holdings only (in which case existing sub-fund unit holdings can continue to be held) or to both future and existing holdings (in which case existing sub-fund unit holdings must be switched to another investment option).
Utmost will then give written notice to all affected planholders. As part of this notice, Utmost will outline clearly to planholders their options in terms of their existing exposure to the withdrawn investment option and future premium allocation, corresponding to the withdrawn investment option.
The options available will reflect the particular circumstances. If no switching instruction or new allocation instruction is received from the planholder before the date specified in the notice, Utmost will switch the existing investment option holdings and redirect their future premium allocations to the designated investment options stated in the notice free of charge.
The period of written notice given will be one month’s advance notice or such other period of notice in compliance with the relevant regulatory requirements.