M&A - Brighthouse Funds Trust I

Form Type: POS EX

Filing Date: 2025-06-17

Corporate Action: Merger

Type: Update

Accession Number: 000119312525141885

Filing Summary: Brighthouse Funds Trust I has filed a post-effective amendment to their registration statement concerning the merger involving the PanAgora Global Diversified Risk Portfolio series. This amendment serves to include an opinion from Ropes & Gray LLP on tax matters relevant to shareholders in relation to the reorganization of the PanAgora series, clarifying that the information in the registration statement for other series remains unaltered. Effective immediately, the filing reinforces the support for the merger process, which includes former and renamed entities involved in the series. Indemnification provisions for trustees and officers have also been addressed, ensuring liabilities from the registrations and agreements with related parties are covered adequately. The statement confirms the absence of any modifications to prior proxy statements or additional information and outlines the responsibilities of involved parties in accordance with regulatory frameworks.

Form Type: 497

Filing Date: 2024-12-23

Corporate Action: Merger

Type: New

Accession Number: 000119312524284290

Filing Summary: 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.