August 22, 2023
Starting September 1, 2023, we will be shifting from gross of tax to net of tax pricing in valuing the Philippine fixed income securities held by select funds where some of our Variable Life Funds (the “Funds”) invest in to better reflect the value of the securities as they are traded in the market.
The shift to net of tax pricing will result in a one-time change in the net asset value (“NAV”) of the Fund, which is approximately +0.06% to +0.53% of the fund value based on end of June 2023 prices. The actual effect of this one-time change in the NAV of the Fund will depend on the prices of the securities held by the Fund on September 1, 2023.
The affected funds are listed below: