Janus Henderson

We understand that some ReAssure customers may be concerned about their policies following the recent suspension of some Janus Henderson-managed property funds, so we’ve put together some questions and answers, which we hope will help:

Which funds have been suspended?

The following property funds have been suspended:

  • OMR Janus Henderson UK Property PAIF Feeder
  • OMR EAB Property
  • OMR Prof Janus Henderson UK Property PAIF Feeder
  • L&G Life Janus Henderson UK Property PAIF Feeder
  • L&G Pension Janus Henderson UK Propty PAIF Feeder
  • Property Pension Accumulator (HSBC) Series 01 & 04
  • Property Pension Accumulator Series 5 

How can I find out if I’m invested in the suspended funds?

You can check your most recent annual statement, which will show the list of funds that you’re invested in. If you’re a ReAssure Now user, you can go online to check.

When were the funds suspended?

The Janus Henderson property funds were suspended on 3 March 2022.

Why have the fund/s been suspended?

The suspended fund/s are managed by Janus Henderson. They have advised that the suspension has been put in place whilst they complete the process of selling all the property assets held within the fund to a single buyer. The decision to sell these assets has been taken due to persistent outflows from the fund, and the expected continuation of this trend, which would adversely affect the overall performance of the fund in the longer term for its remaining investors.

How long will the suspension be in place for?

Because we don’t manage the funds, we can’t tell you how long the suspensions will be in place for. As explained above, Janus Henderson hope to sell the fund’s underlying assets, so we should have some more news for you when this happens.

How does this affect my fund value?

The fund managers are still providing updated prices for the property funds. However, we don’t know what will happen to the prices of the fund while it is suspended, so the value could go up or down.

Will this prevent me receiving my income payments?

No. This will not stop your income payments, which will continue as before.

I’m invested in a suspended Janus Henderson property fund and I pay regular contributions into my policy. How does this change?

If a portion of your regular contribution is currently paid into a suspended fund, it will be redirected and paid into a deposit fund instead. If you’d rather your money didn’t go into the deposit fund, we can redirect it into a different fund of your choosing.

Call us on 0800 073 177 to redirect into a different fund.

Why have you redirected my contributions into a deposit fund?

We decided that it was best to choose a fund with a low-risk rating, which minimises the risk of investment loss as a result of stock market fluctuations, whilst offering limited opportunities for growth. You should be aware that because the fund is likely to offer low returns, it’s possible that any investment growth might not be enough to cover policy charges and your fund value could go down over time.

I’m invested in a suspended Janus Henderson property fund and I want to take a one-off withdrawal from my policy. Can I still do this?

This may be possible if you have enough money in your other funds – and your policy allows you to do this.

Check your terms and conditions to find out or call us on 0800 073 1777 and we’ll check for you.

I’m invested in a suspended fund and I want to switch out of it. Can I still do this?

Unfortunately, it’s not possible to switch out of, or into, any suspended fund.

I’m invested in a suspended fund and I want to take the money out of my pension to choose a retirement option. Is this possible?

You won’t be able to take all the money from your pension right now, but you may be able to take some of it – if your pension allows you to do this.

Check your terms and conditions or call us on 0800 073 1777 and we’ll check for you.

I’m invested in a suspended fund and I want to transfer some of the money from my pension into another pension. Is this possible?

This may be possible if you have enough money in your other funds – and your pension allows you to do this.

Check your terms and conditions or call us on 0800 073 1777 and we’ll check for you.

I’m invested in a suspended fund and my life policy is due to mature soon. Will change anything?

No, it won’t change anything. If you’re taking the money from your policy, the amount we pay will not be affected by the fund suspensions. So you’ll still receive the full amount, including any money held in the suspended funds.

I’m invested in a suspended fund and I want to surrender my life policy. Am I still able to do this?

You won’t be able to take all the money from your policy right now, but you may be able to take some of it – if your policy allows you to do this.

Check your terms and conditions or call us on 0800 073 1777 and we’ll check for you.

I’m invested in a suspended fund and I need to make a health claim. What should I do?

You should still make the claim. We’ll keep you updated with its progress, and if it’s admitted we’ll tell you what your options are.

If the policyholder has passed away, should I still make a claim?

Yes, you should contact us to tell us about their death. Any claim value will not be affected by the suspensions and will include any money held in the suspended funds.

What happens to my money in the suspended fund?

It will stay in this fund for the time being. Right now, we can’t tell you how long this will be for, but it’s likely that the funds underlying assets will be sold by Janus Henderson. When this happens, the money you have in the fund/s will be moved into another fund instead. We can’t tell you what this fund will be right now, but when we have more news we’ll write to affected customers again. We’ll also post any fund updates on our fund news page and add a new story on the ReAssure home page.

Can you provide me with financial advice?

We can provide you with information about your policy but we aren’t authorised to provide financial advice. We recommend you get independent professional advice from a regulated Financial Adviser if you’re unsure what to do. A Financial Adviser can make a personal recommendation based on your individual circumstances and the options available to you. If you don’t have an adviser, you can find one at unbiased. You may have to pay for any advice you receive.

Is ReAssure strong enough to deal with falling stock markets?

ReAssure Limited is part of the Phoenix Group. The assets the Phoenix Group has available to meet its liabilities are in excess of the level required by our regulator, the Financial Conduct Authority.

How will this affect my commission payments?

Commission will be unaffected by the fund suspensions and will continue as before.

Will I be informed when the situation changes?

We will update the information on our website when we have more news for you. Look out for fund updates on our fund news page and new stories on the ReAssure home page.

Do my Policy Terms & Conditions allow you to suspend funds?

Most terms and conditions give us the right to suspend a fund and delay access to money in exceptional circumstances like these. We won’t defer payments in the event of death claims or at set dates at the end of a policy’s life.