Fund Announcement: 4 March 2011

Transcription

1 Announcement: 4 March Notice to Unitholders of Schroder European Equity Yield We have been informed by Schroder Investment Management that it is proposed that the Schroder International Opportunities Portfolio (the Trust ) Schroder European Equity Yield (the EY Sub- ) be merged into the Schroder European Equity Alpha (a sub-fund under Schroder International Choice Portfolio) (the EA Sub- ). Schroder believes that by merging the EY Sub- into the EA Sub-, economies of scale through a larger fund size can be achieved. Economies of scale refer to the cost advantage that a fund obtains due to an increment in fund size. The fund size of the EY Sub- was $18.5 million as of 30 November 2010; in contrast, the fund size of the EA Sub- was $42.0 million as of 30 November The merger will be effected by: 1. Firstly, terminating the EY Sub- and selling all assets of the EY Sub-; and 2. Secondly, using such portion of the net liquidation proceeds from the sale of the assets and any other cash held for the account of the EY Sub- to switch to units of the EA Sub-. Following the above, holders will be entitled to receive units of the EA Sub-. This exercise requires an EGM to be conducted which will be held on at 3.30pm on 17 March 2011 at OCBC Centre 50th storey Committee Room, 65 Chulia Street, Singapore Hence, please reply to this by 10 March 2011 and indicate clearly if you would like to vote FOR or AGAINST the resolutions We will then vote on the resolution on your behalf. If we do not receive your instructions by the stipulated date, we will abstain from casting your vote. All voting instructions received are irrevocable. If a quorum is present and assuming that the extraordinary resolutions are passed, the EY Sub- will be terminated two weeks thereafter or such later date as determined by the Managers. If no quorum is present, the meeting will be adjourned to 28 April 2011 and notice of the adjourned meeting will be sent out prior to that. Assuming that a quorum is present at the adjourned meeting and that the extraordinary resolutions are passed, the EY Sub- will be terminated two weeks thereafter or such later date as determined by the Managers. Upon termination of the EY Sub-, holders will be distributed units of the EA Sub-s. Please note that all dealings in units of the EY Sub- will be suspended on 16 and 17 March In the meantime, the following sets out the option which is available to you: Option Switching of existing units You may switch to another fund that is available on our website. For more information, kindly refer to the attached notification from Schroder Investment Management.

2 2. IOF Notice to Singapore Shareholders IOF- US High Invt Grade Bond S$ F IOF- US Invt Grade Bond SGD F IOF-Asian Property Sec SGD Cl Fd We have been informed by Prudential Asset Management that the board of directors of International Opportunities s (the IOF ) has decided to amend the Luxembourg prospectus of the IOF dated April 2010, as amended by its addendum dated 15 May 2010 (together the Luxembourg Prospectus ). The changes in the Luxembourg Prospectus will be reflected in the next update to the Singapore Prospectus for the IOF. The main changes made to the Luxembourg Prospectus affecting the sub-funds are as follows: a) Renaming of the following classes of shares Current Name New Name (with effect from 1 March 2011) IOF- US High Invt Grade Bond S$ F IOF- US High Invt Grade Bond S$ As IOF- US Invt Grade Bond SGD F IOF-Asian Property Sec SGD Cl F IOF-Asian Property Sec SGD Cl Fd IOF- US Invt Grade Bond SGD As IOF-Asian Property Sec SGD Cl As IOF-Asian Property Sec SGD Cl Asdq b) Amendment to the definition of Business Day with effect from 1 April 2011 With effect from 1 April 2011, the definition of Business Day and Valuation Day as used in the Singapore Prospectus will be updated. c) Creation of an administration fee payable to the global distributor. This fee shall apply with effect from 1 April Sub- Share Class Administration Fee IOF- US High Invt Grade Bond S$ As As Up to 0.25% p.a. IOF- US Invt Grade Bond SGD As As Up to 0.25% p.a. IOF-Asian Property Sec SGD Cl As As Up to 0.5% p.a. IOF-Asian Property Sec SGD Cl Asdq Asdq Up to 0.5% p.a. This is for your information and no action is required from you. For more information, kindly refer to the attached notice from Prudential Asset Management Important changes to Fidelity s- US High Yield We have been informed by Fidelity s that the Board of Directors of Fidelity s has approved the introduction of loans as an eligible investment instrument for the above mentioned fund. With effect from 9 March 2011, loans will be introduced as an eligible instrument for the fund, and the fund may invest up to 10% of its assets in this type of investment vehicle. For clients who do not wish to accept the above change, the following sets out the various options which may be available to you:

3 Option 1 Switching of existing units You may switch to another fund that is available on our website. From now till 8 March 2011, 3pm, you may switch to other sub-fund of Fidelity funds for free. Option 2 Redemption of existing units You may redeem your units in the fund at the prevailing NAV. No realization charge will be imposed in respect of such realization. This is for your information and no action is required of you if you are agreeable with the change. For more information, kindly refer to the attached notice from Fidelity s Henderson hires new Head of Property Equities, Asia We have been informed that Henderson Global Investors has appointed Tim Gibson as head of property equities, Asia. Tim Gibson will be based in Singapore from early April, reporting to Henderson s head of property equities, Patrick Sumner. Tim will manage the Henderson Horizon Asia-Pacific Property Equities as well as the Asian investments within the Henderson Horizon Global Property Equities and other institutional mandates. For more information, kindly refer to the attached notice from Henderson Legg Mason Notice to Unitholders Fixed Income s Legg Mason Asian Bond Trust Legg Mason Global Bond Trust Legg Mason Singapore Bond Equity s Legg Mason Asian Enterprise Trust Legg Mason Southeast Asia Special Situations Trust Legg Mason Singapore Opportunities Trust We have been informed by Legg Mason Asset Management of the following changes which will take effect on 1 April 2011: a) Retirement of Current Manager and Appointment of New Manager for the s and Change of Name of the s Legg Mason Asset Management Singapore Pte. Limited ( LMAM ) will be retiring as manager of the s in favour of Western Asset Management Company Pte. Ltd. ( WAMS ), a Singapore incorporated company. WAMS and LMAM are both subsidiaries of Legg Mason, Inc.

4 With this change, the fund names will be renamed as follows: Current Name Legg Mason Asian Bond Trust Legg Mason Global Bond Trust Legg Mason Singapore Bond Legg Mason Asian Enterprise Trust Legg Mason Southeast Asia Special Situations Trust Legg Mason Singapore Opportunities Trust New Name (wef 1 April 2011) Legg Mason Western Asset Asian Bond Trust Legg Mason Western Asset Global Bond Trust Legg Mason Western Asset Singapore Bond Legg Mason Western Asset Asian Enterprise Trust Legg Mason Western Asset Southeast Asia Special Situations Trust Legg Mason Western Asset Singapore Opportunities Trust b) Appointment of Sub-Manager for the Equity s Havenport Asset Management Pte. Ltd. ( Havenport ), a Singapore incorporated company, will be appointed as the sub-manager for the Equity s (the Sub-Manager ). c) Change of Benchmark for Legg Mason Asian Bond Trust Benchmark of the Legg Mason Asian Bond Trust will be changed from the customised JP Morgan Asian Credit Index Sovereign and Quasi Sovereign (hedged in S$) to the US$ 3-month LIBOR hedged to S$ with effect from 1 April d) Hedging of Benchmark for Legg Mason Global Bond Trust Benchmark of the Legg Mason Global Bond Trust (i.e. the Citigroup World Government Bond Index ex Japan) will be hedged to S$ with effect from 1 April 2011 to reduce the impact of currency fluctuations on the performance of the benchmark. With the above changes, there will be no change to any of the funds' investment objective, focus and approach. All affected unit holders are offered the following options: Option 1 Hold Clients may continue to hold units in the funds. No action is required. Option 2 Redemption of existing units Clients may redeem their units in the funds at the prevailing NAV. For more information, kindly refer to the attached notice from Legg Mason Notice to Unitholders PRU Global Balanced We have been informed by Prudential Asset Management of changes to the PRU Global Balanced which is organized as a feeder fund which feeds into the M&G Global Basics for its equity participation and the Legg Mason Global Bond Trust ( LMGBT ) for its bond participation. The LMGBT is in turn managed by Legg Mason Asset Management Singapore Pte. Limited ( LMAM ) and is sub-managed by Western Asset Management

5 Company Pte Ltd ( WAMC Pte Ltd ), Western Asset Management Company ( WAMC ) and Western Asset Management Company Limited ( WAMCL ). With effect from 1 April 2011, the changes to LMGBT are: 1) LMAM will retire as manager of the LMGBT in favour of WAMC Pte Ltd, a Singapore incorporated company 2) The name of the fund will be changed to Legg Mason Western Asset Global Bond Trust. 3) The benchmark of the LMGBT (i.e. the Citigroup World Government Bond Index ex Japan) will be hedged to S$ with effect from 1 April 2011 to reduce the impact of currency fluctuations on the performance of the benchmark. As a result, the current benchmark of the PRU Global Balanced of 60% FTSE Global Basics Composite Index and 40% Citigroup World Government Bond Index (S$) ex Japan will be changed to 60% FTSE Global Basics Composite Index and 40% Citigroup World Government Bond Index ex Japan hedged to S$ with effect from 1 April There will be no change to the investment objective, focus and approach of the LMGBT as a result of the aforementioned changes. This is for your information and no action is required from you. For more information, kindly refer to the attached notice from Prudential Asset Management Dividend Payout for United GEMS Portfolio GEMS Investment (S$) Declaration Date : 31 January 2011 Dividend Rate per unit : SGD Ex Date : 1 February 2011 Reinvestment/ Payout Date : Mid March Dividend Payout for First State Dividend Advantage Declaration Date : 31 March 2011 Dividend Rate per unit : 1% of NAV Ex Date : 1 April 2011 Reinvestment/ Payout Date : Mid May Dividend Payout for LionGlobal Multi Income Declaration Date : 28 February 2011 Dividend Rate per unit : SGD Ex Date : 1 March 2011 Reinvestment/ Payout Date : Early April Dividend Payout for Legg Mason WA Asian Opportunities A USD Dist (M) Declaration Date : 14 February 2011 Dividend Rate per unit : USD Ex Date : 1 March 2011 Reinvestment/ Payout Date : Early March 2011

6 11. New s on Board! : PineBridge Latin America USD A : PineBridge EM LocalCcy Bond A USD : PineBridge Strategic Bond A USD : PineBridge EM Europe Eqty A USD Fair Dealing ifast is committed to sustainable business practices that are supported by a range of initiatives. For ifast, fair dealing is about conducting our business in a transparent and ethical way that enhances value for all of our stakeholders and delivers fair dealing outcomes to our customers. Fair dealing is central to ifast and the senior management and the board of ifast are committed to aligning the direction of ifast with fair dealing outcomes to all stakeholders. We recognise that this is a journey and best practice is continuously evolving.