Fund Changes

Information regarding changes to Insight Investment UK OEIC Fund Range, Insight Investment Multi-Manager Funds ICVC, and Insight Investment Portfolio Funds ICVC

Following a recent review of our fund range, investors have approved the following changes to existing shareholders:

• Insight Investment US Portfolio Fund - proposal for the merger with the ‘Insight Investment Diversified Dynamic Return Fund’
• Insight Investment Global Dynamic Managed Fund - proposal for the merger with the ‘Insight Investment Diversified Dynamic Return Fund’
• Insight Investment UK Equity Income Portfolio - proposal for the merger with the ‘Insight Investment Diversified High Income Fund’

We believe the changes will provide the funds with:

• a more flexible investment approach,
• an investment proposition more closely aligned to customer needs,
• the potential to produce more attractive returns.

In addition, as a result of each merger shareholders will be invested in a much larger fund thereby reducing the proportion of the fund made up of fixed costs, so passing on proportionately lower expenses.

The following events will take place:

15 October 2007            Change of US Portfolio's Objective and Policy to that of the Diversified Dynamic Return Fund

26 October 2007            Change of UK Equity Income Portfolio’s Objective and Policy to that of the Diversified High Income Fund

27 October 2007            Merger of US Portfolio and Global Dynamic Managed Fund with Diversified Dynamic Return Fund

3 November 2007           Merger of UK Equity Income Portfolio with Diversified High Income Fund

If you have any queries, please do not hesitate to contact our Customer Services Team.

Key fund facts