Fund Changes

Closure of the Insight Investment European Bond Fund (the “Fund”), a sub-fund of Insight Investment Discretionary Funds ICVC

This fund will close with effect from 26 November 2007.  Please refer to the Circular for further information.

Investor options:

Option 1 - Exchange shares in the Fund for shares in the UK Corporate Bond Fund or any other fund featured in the Simplified Prospectuses prior to the winding up of the Fund.  If you decide to switch into this fund, we will waive the initial charge which is usually payable on the issue of shares, provided it is between the same type of share class (for example, retail shares being exchanged for retail shares).

Option 2 - Redeem your holding prior to the winding up of the Fund.

We recommend that investors seek the advice from their financial adviser to ensure that whatever decision is made is one that is best suited to financial needs and investment goals.

Other important information for investors in a regular savings plan

As the Fund is being wound up, we will not be collecting October and November monthly payments.  If investors decide to exchange current holdings for shares in the UK Corporate Bond Fund, we will change the regular savings mandate for you into the new fund.  In this case, we will need a new direct debit mandate completed, which we will send out after shares have been exchanged.

If you would like any assistance in completing the enclosed form, or have any queries about the Funds closure, please speak to your financial adviser or please call our Customer Services Team on 0845 777 2233.