ABN AMRO MULTI- MANAGER FUNDS - FUND OF MANDATES ASIA-PACIFIC EQUITIES

Transcription

1 ABN AMRO MULTI- MANAGER FUNDS - FUND OF MANDATES ASIA-PACIFIC EQUITIES Sub-fund of ABN AMRO Multi-Manager Funds, an Undertaking for Collective Investment in Transferable Securities under Luxembourg law Simplified Prospectus September 2007 English An initial offer of Class A Shares and I Shares in the Asia-Pacific Equities will commence at 9.00 a.m. (Luxembourg time) on 1 November, 2007 and will close at 9 a.m. (Luxembourg time) on 2 November, Under such initial offer, Class A Shares in the Asia-Pacific Equities will be available at the price of USD 50 payable in full for a minimum investment of USD 100, I Shares in the Asia-Pacific Equities will be available at the price of USD 10,000 payable in full for a minimum investment of USD 1,000,000. Payment of the Shares subscribed during such period must be made at the latest on 8 November. The Company reserves the right to withdraw, modify or terminate the initial offering or to refuse any order in whole or in part. If the Company determines to withdraw, modify or terminate the initial offering of Class A Shares and/or Class I Shares in the Asia-Pacific Equities, investors shall be duly informed and the Prospectus shall be updated accordingly. The Manager will be entitled to receive out of the assets of the Asia-Pacific Equities a management fee set at a rate of 2.00% per annum applicable to A Shares per annum and 1.10% per annum applicable to I Shares in consideration of its portfolio management services. The Board of Directors has approved the appointment of A.A. Advisors as Investment Manager of the Fund.

2 ABN AMRO Multi-Manager Funds - Fund of Mandates Asia-Pacifi c Equities - Simplified Prospectus ABN AMRO Multi-Manager Funds - Fund of Mandates Asia-Pacifi c Equities (the Fund of Mandates Asia-Pacific Equities ) Investment policy and objectives The Fund s objective is long-term capital growth, with an above-average risk profile. The asset allocation in transferable equity securities of companies that are domiciled in, or derive the predominant part of their revenues or profits from the Asia-Pacific region will be in principle 100%. In any case at least two thirds of the Fund s total assets (after deduction of cash) will be invested in transferable equity securities such as equities, other equity shares such as co-operative shares and participation certificates issued by, or warrants on transferable equity securities of, companies which are domiciled in or exercise the predominant part of their economic activity in the Asia-Pacific region. The appointed Investment Manager may delegate part of the management of the Funds to a minimum of two External Investment Managers, who will make investment decisions as part of the portfolio and have been selected by the Company in accordance with a number of qualitative and quantitative criteria. The qualitative analysis (i) assesses the stability and strength of the External Investment Manager, as well as their investment process and philosophy; and (ii) includes meeting with the external investment management teams. The quantitative selection process aims to select only those External Investment Managers with proven risk-adjusted performance. The Fund may seek to minimise the exposure to currency fluctuations by the use of currency hedging and other techniques and instruments. The Fund is denominated in USD. Funds of the Company may further invest in units or shares of open-ended investment funds which qualify as UCITS and/or other UCIs. Although such UCITS and UCIs are of the open-ended type, which means that redemption of holdings may be requested at any time at the next price of calculation of the NAV, there may be exceptional circumstances where such right to redeem is affected due to the illiquidity of the investment made by such UCITS and UCIs, impacting indirectly the NAV calculation of the Funds concerned as well as the issue and redemption in their Shares. Who may want to invest The Fund is suitable for investors who see funds as a convenient way of participating in capital market developments. It is also suitable for more experienced investors wishing to attain defined investment objectives. The investors must have experience with volatile products. The investor must be able to accept significant temporary losses, thus the Fund is suitable for investors who can afford to set aside the capital for at least 5 years. It is designed for the investment objective of building capital. Fund s risk profile The Fund s value is calculated daily on the basis of the market values of the Fund s individual investments. The fund is suitable for investors who recognise that a long-term view is required in order to achieve optimal capital growth. The risk profile is close to the average of the overall market of Asia-Pacifi c equities. The value of your investment may go down as well as up and you may not get back the initial amount invested. A detailed description of the mentioned risks can be found in the last available Full Prospectus of ABN AMRO Multi-Manager Funds. Risk Indicator Low Risk High Risk Risk is measured by standard deviation of total return. The greater the standard deviation, the wider the fluctuations in a Fund s Share Price. Past Performance Due to the fact that the Fund is new, no past performance can be given. This Simplified Prospectus will be updated with view to the appointment of additional External Investment Managers in relation to this Fund whenever the full prospectus of the Company is updated. In addition, a list of appointed External Investment Managers is available for Shareholders at the registered office of the Company.

3 ABN AMRO Multi-Manager Funds - Fund of Mandates Asia-Pacific Equities - Simplified Prospectus Share Classes The Company may issue the following Share Classes within each Fund. Class A: Capital Growth Shares Class B: Dividend Shares Class D: Capital Growth Shares/Distribution Shares Class I: Capital Growth Shares/Institutional Shares Class J: Capital Growth Shares/Japanese collective investment schemes shares In relation to Class D, Class I and Class J Shares, prospective investors are informed that the issue of such Share Class is limited to particular Funds, as indicated in the Minimum Investment, Charges and Fee Overview section of the Full Prospectus. With regard to Class A, Class D, Class I and Class J Shares, such Shares are capitalisation Shares and no dividends are intended to be distributed. With regard to Class B Shares, it is intended that, subject to the decision of the annual general meeting of Shareholders, the Company will distribute dividends out of (i) the available net investment income of each Fund and (ii) the realised and unrealised net capital gains after deduction of realised and/or unrealised capital losses, and (iii) the capital of each of the Funds within the limits of applicable law and regulations. The dividend may be based on the dividend yield of the underlying benchmark in the previous calendar year. AH, BH, DH, IH and JH Shares ( Hedged Share Classes ) may also be created within some Funds. These Shares will have a substantial part of the assets of the SICAV attributable to that Share Class denominated in or hedged into the currency of that Share Class. Hedged Share Classes will be issued in a different currency than the reference currency of the Fund considered. Taxation The Fund is not currently liable to any Luxembourg tax on profits or income. However, the Fund does incur a Luxembourg annual capital tax (Taxe d Abonnement) equal to 0.05% (Class A, B and D shares) or 0.01% (Class I and Class J shares) of the total Fund value. I-shares (institutional shares) are only available for institutional investors or through unit-linked and defined contribution insurance and pension schemes. Interest, dividends and other revenue received by the Fund, such as capital gains, may be subject to non-recoverable withholding tax in the countries of origin. No Stamp Duty or other tax is payable in Luxembourg on the issue of Shares. No Luxembourg tax is payable on the realised capital appreciation of the assets of the Company. The repercussion of an investment in the Fund on the tax liability of an investor depends on the fiscal regulations applicable in his/her particular case. Consulting a local tax adviser is therefore recommended. Fund Costs Annual operating expenses The following costs are deducted from the Fund s assets: Annual Operating Expenses (% of Fund s net Assets) Management Fee 2.00% 2.00% 2.00% 1.10% Service Fee 0.20% 0.20% 0.20% 0.17% Distribution Services Fee None None 0.75% None TER FY 2006* * Transaction costs not included. Buying, Selling and Converting Shares You can buy and sell shares from the registrar and / or an authorised distributor in countries where it is legally permitted. Applications for subscription, redemption or conversion of shares by means of the Application Form must be received by the registrar no later than 9.00 hrs, Luxembourg time, on the Business Day preceding a Valuation Date. A Business Day is defined as any day on which banks are open for business in Luxembourg City and the day when the calculation of the Net Asset Value of the Shares of a particular Fund is not suspended according to the conditions set out in the Full Prospectus. It has to be noted further that there shall be no Valuation Date of the Shares of a particular Fund on the day when a substantial portion of the relevant prices of the assets of such Fund are not available due to market closure or holidays. Application Forms can be sent or faxed to the address of ABN AMRO Investment Funds S.A. below. Applications which are accepted will be processed at a price equal to the Net Asset Value at the corresponding Valuation Date. Shareholder transaction fees These fees are paid directly by Shareholders when they buy, sell or convert Fund Shares. Maximum charges on Shareholder Transactions (% of Share Price) On Purchases 5.25% 5.25% 5.25% None On redemptions/switches 1.00% 1.00% 1.00% None

4 ABN AMRO Multi-Manager Funds - Fund of Mandates Asia-Pacifi c Equities - Simplified Prospectus Fund Details ISIN Not Launched Not Launched Not Launched Not Launched Minimum Initial Investment Not Launched Not Launched Not Launched Not Launched Inception Not Launched Not Launched Not Launched Not Launched Dividend Distribution No Yes No No Share Price Reference Currency Share Price Calculation Share Price Publication USD Daily Bloomberg, Reuters, or at the Company s registered office during business hours Operations and Business Structure Total Assets N/A (Fund is new) Portfolio Turnover N/A (Fund is new) Fund Legal Structure Sub-fund of ABN AMRO Multi Manager Funds SICAV SICAV Incorporation 17 November 2000 Registration number B Regulator and Service Providers Supervisory Authority Promotor Management Company Investment Manager External Investment Manager Depositary Bank Auditor Commision de Surveillance du Secteur Financier Luxembourg ABN AMRO Asset Management ABN AMRO Investment Funds S.A. A.A. Advisors, Paris Alliance Bernstein L.P., New York Fidelity Pensions Management, Hildenborough (UK) Principal Global Investors, LLC, Des Moines (USA) ABN AMRO Mellon Global Securities Services B.V. acting through its Luxembourg branch Ernst & Young Luxembourg Contact Information Investor Services Local Agents Out-of-Court Complaints and Redress Mechanism ABN AMRO Fund Services P.O. Box 283 (AF 0540) 1000 EA Amsterdam The Netherlands fund.services@nl.abnamro.com; Luxembourg ABN AMRO Investment Funds S.A. 46, Avenue J-F. Kennedy L-1855 Luxembourg-Kirchberg Tel: Fax Netherlands ABN AMRO Bank P.O. BOX 283 (AF 0540) 1000 EA Amsterdam The Netherlands FIN-NET

5 ABN AMRO Multi-Manager Funds - Fund of Mandates Asia-Pacific Equities - Simplified Prospectus This Simplified Prospectus contains key information about the Fund. If you would like more information before you invest, including information on the rights and duties of the investor as well as the legal relationship with the Fund, please consult the latest available Full Prospectus of ABN AMRO Multi-Manager Funds. For details about the Fund s holdings please see the most recent annual or semi-annual report of ABN AMRO Multi-Manager Funds. The Full Prospectus and the fi nancial reports may be obtained free of charge from ABN AMRO and from all distributors. ABN AMRO Multi-Manager Funds (the Company ) is an open-ended investment company incorporated on November 17, 2000 under the laws of the Grand Duchy of Luxembourg as a Société Anonyme, which qualifies as Société d Investissement à Capital Variable. The Company is registered pursuant to Part I of the Luxembourg law of 20 December The Company has an umbrella structure, which allows its capital to be divided into different portfolios of securities and other assets permitted by law with specific investment objectives and various risk characteristics. Information for Investors in Switzerland The Company has entered into a Distribution and Representation Agreement as well as a Paying Agency Agreement with ABN AMRO Bank (Schweiz), under the terms of which ABN AMRO Bank (Schweiz) shall act as Representative and Distributor as well as Paying Agent for the SICAV in Switzerland. With respect to Shares of the Funds offered or distributed in or from Switzerland, place of performance and place of jurisdiction shall be at the registered office of the Representative and Paying Agent in Switzerland, being ABN AMRO Bank (Schweiz), Beethovenstr. 33, CH-8002 Zürich. The Prospectus, the Simplified Prospectus, the Articles, the annual and semi-annual reports of the Company as well as the list of purchases and sales on behalf of the Funds during the reporting period may be obtained, free of charge, at the office of ABN AMRO Bank (Schweiz) in Zürich. Publications of the Company and its Funds, especially with respect to changes and amendments of the Articles or the Prospectus shall be made in the Swiss Official Gazette of Commerce (Schweizerisches Handelsamtsblatt (SHAB)) and the Neue Zürcher Zeitung. The issue and redemption prices of the Shares of each Fund together, or the Net Asset Value flagged commissions excluded, shall be published on a daily basis in the Neue Zürcher Zeitung. Notwithstanding any statements to the contrary in the Prospectus, the French language version of the Prospectus as duly signed and filed with the Swiss Federal Banking Commission shall govern the legal relationship between the Company and investors in Switzerland. Under the provisions of Article 42(3) of the amended Luxembourg law of 20 December 2002, UCITS have to ensure that the overall risk exposure related to fi nancial derivative instruments does not exceed the total net asset value of their portfolio. This means that the global exposure relating to the use of financial derivative instruments may not exceed 100% of the UCITS net asset value (NAV) and hence that the UCITS overall risk exposure may not exceed 200% of the NAV on a permanent basis. The overall risk exposure of the UCITS may not be increased by more than 10% by means of temporary borrowing, so that the UCITS overall risk exposure may not exceed 210% of the NAV under any circumstances. Currency hedging transactions in relation to one Share Class comprise a potential risk that liabilities arising from currency hedging transactions may affect the NAV of the other Share Classes of the same Fund. Out of the Management Fee trail fees may be paid to distributors and reimbursements may be made to investors in accordance with the regulations in the respective jurisdictions where the Shares are distributed.