M&A: Brighthouse Funds Trust I

Form Type: 497

Filing Date: 2024-12-23

Corporate Action: Merger

Type: New

Accession Number: 000119312524284290

Comments: The document outlines a proposed reorganization involving Brighthouse Funds Trust I, specifically the SSGA Emerging Markets Enhanced Index Portfolio II (formerly the Brighthouse/abrdn Emerging Markets Equity Portfolio) which will transfer all of its assets and liabilities to the SSGA Emerging Markets Enhanced Index Portfolio (the Buying Portfolio) in exchange for shares of the Buying Portfolio. This transaction, deemed a 'Reorganization', requires shareholder approval which will take place at a special meeting on February 18, 2025. The Board recommends shareholders vote FOR the Reorganization, which is expected to result in potentially lower operating expenses for shareholders. The Reorganization will not be a taxable event for Contract Owners provided that their Contracts qualify as life insurance or annuity contracts under the Internal Revenue Code. The expected timeline for closing the Reorganization is during the second quarter of 2025.

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