In a 100:0 UWP fund investment surplus is 100% attributable to policyholders and shareholders receive only explicit charges deducted from the fund. From this I understand that any excess assets in the fund (e.g. to support bonuses/smoothing) should also belong to PHs and that SHs have no direct interest in them. Could you confirm whether this is correct? Thank you, Mateusz
Hi Mateusz Yes you are correct - If a fund is 100/0 then all the surplus / free assets belong to policyholders within that fund. The assets are ring-fenced and cannot be used by other funds. This is true for all 100/0 funds. Thanks Em
