Termination and withdrawal of authorisation of 32 investment choices under various schemes

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1 Your reference Our reference Date Policy no.: 21 July 2016 Termination and withdrawal of authorisation of 32 investment choices under various schemes Zurich Life Insurance (Hong Kong) Zurich Assurance Ltd (a company incorporated in England and Wales with limited liability) Zurich Life Limited (a company incorporated in the Isle of Man with limited liability) Zurich Life Insurance Company Ltd (a company incorporated in Switzerland with limited liability) 25-26/F, One Island East 18 Westlands Road Island East, Hong Kong Telephone: Fax: Website: Zurich Life Limited provides life assurance, investment and protection products and is authorised by the Isle of Man Financial Services Authority. Registered in the Isle of Man number 20126C. Registered office: Athol Street, Douglas, Isle of Man, IM99 1EF, British Isles We accept full responsibility for the accuracy of the content of this document. THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK YOUR OWN PROFESSIONAL ADVICE. Dear We are writing to let you know about the termination and withdrawal of authorisation of the 32 investment choices (each an Choice and collectively, the Choices ), which are available under the schemes listed in the Applicable schemes column of the table in the Which investment choices are affected? section below (the Schemes ). Which investment choices are affected? Name of Choice to be terminated and of which the authorisation will be withdrawn 1 First State Global Umbrella plc First State Hong Kong Growth 2 Franklin Templeton s Templeton Global Bond Code of Choice to be terminated and of which the authorisation will be withdrawn MWUSD PCUSD Applicable default investment choice ( Default Choice ) and code of the Default Choice if we do not receive your switching or future regular contribution allocation instructions on or before the Deadline (as defined in the What does this mean for you? section below) Fidelity s II US Dollar Currency (OVUSD) Applicable schemes Wealth Account

2 Page: 2 3 JPMorgan s Euroland Equity 4 JPMorgan s Europe Small Cap JUEUR JVEUR Fidelity s Euro Cash (NCEUR) 5 M&G s (1) M&G North American Dividend CWGBP Fidelity s (TWGBP) 6 Franklin Templeton s Templeton China 7 The Jupiter Global Jupiter Global Ecology Growth USD 4WUSD 6IUSD Fidelity s II US Dollar Currency (OVUSD) Wealth Account and Pacific 8 Amundi s Equity ASEAN EYUSD 9 Fidelity s Malaysia GTUSD 10 Investec Global Strategy American Equity JXUSD 11 M&G s (1) M&G Global Basics USD L3USD 12 Allianz Global Investors Allianz Total Return Asian Equity LHUSD 13 Aberdeen Global Asian Local Currency Short Duration Bond NQUSD 14 M&G s (1) M&G Global Leaders USD OBUSD 15 Schroder Selection Emerging Markets Debt Absolute Return USD OCUSD 16 Threadneedle s ICVC Dollar Bond USD QIUSD 17 Henderson Horizon China S2USD 18 Schroder Selection Asian Bond Absolute Return YLUSD 19 Franklin Templeton s Franklin MENA EUR BPEUR Fidelity s Euro Cash (NCEUR) 20 M&G s (1) M&G Global Basics FPEUR

3 Page: 3 EUR 21 The Jupiter Global - Jupiter Global Ecology Growth GBP 22 Threadneedle s ICVC UK Select 23 Threadneedle s ICVC Global Bond ECGBP Fidelity s (TWGBP) VEGBP VPGBP 24 Threadneedle s ICVC Emerging Market Bond GBP 25 ZI M&G Global Leaders USD 26 ZI Aberdeen Global Asian Local Currency Short Duration Bond 27 ZI Schroder ISF Emerging Markets Debt Absolute Return USD 28 ZI Investec GSF American Equity 29 ZI Jupiter Global Ecology Growth GBP 30 ZI M&G Global Basics EUR 31 ZI M&G Global Leaders EUR 32 ZI Jupiter Global Ecology Growth EUR VVGBP N3USD OMUSD OSUSD CGUSD ZI Fidelity Currency USD (OYUSD) Elite Bond, Futura III, SUPRA Savings and Plan, Vista and Vista Retirement Scheme EDGBP ZI Fidelity s (TXGBP) ZI Fidelity s Euro Cash (NDEUR) FQEUR FREUR HYEUR What is happening? We regularly review the investment choices we offer to provide a more up-to-date investment choice range. This involves introducing new investment choices and closing some of our current investment choices. Recently we have reviewed the investment choices we offer and have concluded that the operation of the Choices should be terminated due to their low popularity. Consequently, we have made the business decision, pursuant to The Choices section or The s section of the Plan terms and conditions of the respective Schemes, to terminate the Choices on 22 August 2016 (the Effective Date ). The authorisation of the Choices from the Securities and Futures Commission ( SFC ) will also be withdrawn on the Effective Date. What does this mean to you? The Choices will be removed from the range of investment choices available to the respective Schemes on the Effective Date and you will not be allowed to acquire or switch into any units of the Choices as from the date of this letter.

4 Page: 4 You will have to: (i) switch your existing holdings of the Choice(s) to alternative investment choice(s) available under the respective Schemes by submitting an instruction to us at or before 4.00pm Hong Kong Time on 19 August 2016 (the Deadline ), free of charge; and/or (ii) specify alternative investment choice(s) to be included in your future regular contribution allocation in place of the Choice(s) in the event that your existing future regular contribution allocation includes the Choice(s), by submitting an instruction to us on or before the Deadline, free of charge. We recommend that you contact your financial professional in the first instance, who will be able to advise you of alternative investment choice(s). Please be reminded that different investment choices available under the respective Schemes have different investment objectives and policies, risks profiles and charges. Please read the offering documents of the s corresponding to the investment choices for details including the investment objectives and policies, risks factors and fees and charges of the s which are available free of charge from us upon request. If we do not receive your instruction(s) to switch your existing holdings of the Choice(s) to alternative investment choice(s) by the Deadline, we will switch all your existing holdings of the Choice(s) into the applicable Default Choice, which is a money market in the same currency as the Choice(s), as set out in the table under the section Which investment choices are affected? on the Effective Date. If we do not receive your instruction(s) to specify alternative investment choice(s) to be included in your future regular contribution allocation in place of the Choice(s) by the Deadline, we will redirect your future regular contributions in respect of the Choice(s) into the applicable Default Choice from the Effective Date onwards. Please refer to the below summary of the corresponding to the applicable Default Choice in the first instance. For details including, without limitation, the investment objective and policy, risk factors and charges of the corresponding to the applicable Default Choice and other investment choices available under each schemes, please read the offering documents of the available free of charge from us upon request. Name and code of the Default Choice Fidelity s Euro Cash (NCEUR) Fidelity s Sterling Cash (TWGBP) Fidelity s II US Dollar Currency (OVUSD) Name of corresponding Fidelity s Euro Cash Fidelity s Fidelity s II - US Dollar Currency Name of management company of FIL Management (Luxembourg) S.A. Share class of Currency of Default Choice A EUR EUR A GBP GBP A USD USD ZI Fidelity Fidelity s A EUR EUR Currency of

5 Page: 5 s - Euro Cash (NDEUR) ZI Fidelity s - (TXGBP) ZI Fidelity Currency USD (OYUSD) Euro Cash Fidelity s Fidelity s II - US Dollar Currency A GBP GBP A USD USD All costs and expenses (if any) arising from the termination and withdrawal of authorisation of Choices will be borne by us. You should seek independent advice from a professional tax adviser should you have any questions on your tax position. If you have any questions about this document or your investment in the Choice(s), please contact your financial professional, or you can call our Customer Care Team on or us at helppoint.hk@zurich.com and we ll be happy to help. Yours sincerely, Zurich Life Limited Please note investments involve risks. The value of any investment and the income from it can fall as a result of market and currency fluctuations and you could get back less than the amount originally invested.

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