Fund Announcement: 30 September Contents:

Transcription

1 Fund Announcement: 30 September 2016 Contents: 1. Deutsche Noor Islamic Funds plc Annual General Meeting 2. Results of Extraordinary General Meeting in Relation to the Proposed Termination of Eight Portfolio D and Automatic Switching to SGD Class Units of Eight Portfolio C 3. Fidelity Funds Euro Bond Fund 4. Fidelity Funds European Growth Fund 5. Important Changes to the Pricing of Share Classes available in Fidelity Funds SICAV 6. Change to the Investment Policy of Franklin Templeton Investment Funds Templeton Global Balanced Fund 7. JPMorgan Investment Funds Global Financials Fund 8. PARVEST Notice to Shareholders 9. Schroder Emerging Europe Fund Notice of Meeting of Unitholders 10. Schroder Global High Yield Fund Notice of Meeting of Unitholders 11. United SGD Fund Notice of Increase in Management Fee 12. Administration Fee United Global Durable Equities Fund, United Income Focus Trust and United Japan Small and Mid Cap Fund 13. Fullerton Lux Funds Annual General Meeting - 1 -

2 Date of Memo: 30 September Deutsche Noor Islamic Funds plc (the Company ) Annual General Meeting The Annual General Meeting (AGM) of the Company will be held on 30 September 2016 at 3:00 p.m (Dublin time) at the offices of A&L Goodbody, International Financial Services Centre, North Wall Quay, Dublin 1. We have enclosed a copy of the AGM notification together with the following document for your action: (1) Proxy Form Hence, please reply to clienthelp@fundsupermart.com by 27 September 2016 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. Noor Islamic Fund plc - AGM.pdf 2. Results of Extraordinary General Meeting in Relation to the Proposed Termination of Eight Portfolio D (the Sub-Fund ) and Automatic Switching to SGD Class Units of Eight Portfolio C (the Target Fund ) We have been informed by Nikko Asset Management that the extraordinary resolution which was held on 7 September 2016 was duly passed. Therefore, the trust deed of the Fund (as amended) (the Deed ) will be modified in the manner set out in the Annex to the Notice (together with such other modifications, alterations or additions to the Deed as may be agreed between the Managers and the trustee of the Sub-Fund (the Trustee )) with effect from such date as the Managers and the Trustee may agree and the Sub-Fund will be terminated with effect from 29 September 2016 or such later date as the Managers may, in consultation with the Trustee, determine (the Effective Date ). Please take note of the following timeline: - Sell/Switch Sell will be available until 23 September 2016, 3pm Affected unit holders are offered the following options: Clients may continue to hold existing units in the Sub-Fund. No action is required of you. The Deed will be modified in the manner set out in the Annex to the Notice prior to the Effective Date to facilitate the Automatic Switching of Units to SGD class units of the Target Fund upon termination of the Sub- Fund. Consequently, on the Effective Date, the Sub-Fund will be terminated and all client s units will automatically be switched to SGD class units of the Target Fund in accordance with the modified provisions of the Deed

3 Option 2 Switching of existing units Clients may switch to another fund that is available on our website for free from now till now till 23 September 2016, 3pm. If clients have invested in the Sub-Fund using CPF Ordinary Account or Supplementary Retirement Scheme ( SRS ) monies, clients may only switch into other funds that are included in the CPF Investment Scheme ( CPFIS ) for the Ordinary Account or accept SRS monies respectively. Option 3 Redemption of existing units From now till 23 September 2016, 3pm clients may redeem their units in the Sub-Fund at the prevailing NAV. No realization charge will be imposed in respect of such realization. For CPF and SRS clients, the redemption proceeds will be paid to client s Investment Account held with the CPF/SRS Agent Bank as soon as practicably reasonable. For Options 2 and 3, clients will not be imposed any charges nor required to bear any CPF agent bank charges or SRS operator charges. Port D ( ).pdf 3. Fidelity Funds Euro Bond Fund The Board of Directors of Fidelity Funds (the Board ) has decided to merge Fidelity Funds MoneyBuilder European Bond Fund (the Merging Fund ) into Fidelity Funds Euro Bond Fund (the Receiving Fund ) with effect from 7 November 2016, or any later date as may be decided by the Board (the Effective Date ). The Board believes that the proposed merger (the Merger ) is in the best interests of Shareholders, as the Merging Fund is too small to be managed and administered cost-effectively for its Shareholders. The Merging Fund had approximately 10 million assets under management on 30 June Both funds have similar fee structures and the Board anticipates that the Merger will not result in any dilution in the performance of the Receiving Fund. Affected unit holders are offered the following options: Clients may continue to hold existing units in the Receiving Fund. No action is required of you. Option 2 Switching of existing units Clients may switch to another fund that is available on our website for free from now till 28 October 2016, 3pm. Option 3 Redemption of existing units From now till 28 October 2016, 3pm, clients may redeem their units in the Receiving Fund at the prevailing NAV. No realization charge will be imposed in respect of such realization

4 Euro Bd( ).pdf 4. Fidelity Funds European Growth Fund The Board of Directors of Fidelity Funds (the Board ) has decided to merge Fidelity Funds MoneyBuilder Europe Fund (the Merging Fund ) into Fidelity Funds European Growth Fund (the Receiving Fund ) with effect from 7 November 2016, or any later date as may be decided by the Board (the Effective Date ). The Board believes that the proposed merger (the Merger ) is in the best interests of Shareholders, as the Merging Fund is too small to be managed and administered cost-effectively for its Shareholders. The Merging Fund had approximately 9 million assets under management on 30 June Both funds have similar fee structures and the Board anticipates that the Merger will not result in any dilution in the performance of the Receiving Fund. Affected unit holders are offered the following options: Clients may continue to hold existing units in the Receiving Fund. No action is required of you. Option 2 Switching of existing units Clients may switch to another fund that is available on our website for free from now till 28 October 2016, 3pm. If clients have invested in the Receiving Fund using CPF Ordinary Account or Supplementary Retirement Scheme ( SRS ) monies, clients may only switch into other funds that are included in the CPF Investment Scheme ( CPFIS ) for the Ordinary Account or accept SRS monies respectively. Option 3 Redemption of existing units From now till 28 October 2016, 3pm, clients may redeem their units in the Receiving Fund at the prevailing NAV. No realization charge will be imposed in respect of such realization. For CPF and SRS clients, the redemption proceeds will be paid to client s Investment Account held with the CPF/SRS Agent Bank as soon as practicably reasonable. Clients who invested in the Receiving Fund using CPFIS Ordinary Account, for Options 2 and 3, clients will not be required to bear the transaction charges levied by the CPF agent bank. Clients who invested in the Receiving Fund using SRS monies, for Option 2 and 3, clients are required to bear the transaction charges levied by the SRS agent bank. Europ Gth( ).pdf 5. Important Changes to the Pricing of Share Classes available in Fidelity Funds SICAV Fidelity regularly review their fund pricing to ensure they continue to offer good value for their clients, and have decided to make some changes to the fees and charges applied to a number of funds in the Fidelity Funds SICAV with effect from 3 January 2017 or such later date as may be decided by the Directors (the Effective Date ). Fidelity believe that these changes are in the best interest of shareholders

5 Details of changes are outlined below: (i) Changes to Bond funds within the Fidelity Funds SICAV - the pricing of A share class will be simplified so that the funds invested in similar categories of bonds levy similar fees (i.e. annual management fee ( AMF ) and ongoing charges figure ( OCF )). This will result in a decrease in the OCF of many A share class of Bond funds. Some Bond funds fees will not change or will increase. - the initial sales charge for the below Bond Funds A share classes will be reduced from a maximum 5.25% of the net asset value to a maximum of 3.5%. ISIN Code LU LU LU LU LU LU LU LU LU LU LU LU Fund Name Fidelity Asian Bond AMDIST USD Fidelity Asian HY AMDIST SGD Hedged Fidelity Asian HY AMDIST USD Fidelity Euro Bond A EUR Fidelity European High Yield A EUR Fidelity European High Yield AMDIST EUR Fidelity Flexible Bond A GBP Fidelity Glb Inflation-linked Bond A SGD Hedged Fidelity US Dollar Bond A USD Fidelity US HY AMDIST-SGD Fidelity US High Yield A USD Fidelity US High Yield AMDIST USD (ii) Other changes Affected unit holders are offered the following options: Clients may continue to hold existing units in the affected fund. No action is required of you. Option 2 Switching of existing units Clients may switch to another fund that is available on our website from now till 2 January 2017, 3pm. If clients have invested in the affected fund using Supplementary Retirement Scheme ( SRS ) monies, clients may only switch into other funds that accept SRS monies. Option 3 Redemption of existing units From now till 2 January 2017, 3pm, clients may redeem their units in the affected fund at the prevailing NAV. No realization charge will be imposed in respect of such realization. For SRS clients, the redemption proceeds will be paid to client s Investment Account held with the SRS Agent Bank as soon as practicably reasonable. For Option 2 and 3, clients are required to bear the transaction charges levied by the SRS agent bank. SICAV ( ).pdf - 5 -

6 6. Change to the Investment Policy of Franklin Templeton Investment Funds Templeton Global Balanced Fund (the Fund ) We have been informed that the investment policy of the Fund is amended to clarify that the investment manager may invest up to 5% of the Fund s net assets in non-investment grade securities. This revision is for clarification purpose only and there will be no change to the way the Fund is currently managed or to the investment strategy of the Fund. Therefore, the second sentence of the second paragraph of the Fund s investment policy is amended to read as follows: The Fund seeks income by investing in fixed or floating-rate debt securities (including up to 5% of the Fund s net assets in non-investment grade securities) and debt obligations issued by government and government-related issuers or corporate entities worldwide. In addition Low-Rated or Non-Investment Grade Securities Risk is added to the list of main risks relevant for this Fund. This notice is for your information only. No action is required of you. Glb Bal ( ).pdf 7. JPMorgan Investment Funds Global Financials Fund (the Sub-Fund ) We have been informed that with effect from 1 October 2016, the benchmark of the Sub-Fund will change from MSCI World Financials Index (Total Return Net) to MSCI ACWI Financials Index (Total Return Net). The Sub-Fund is currently able to invest in Emerging Markets as stated in its Investment Policy, therefore the new benchmark is a better performance comparator because it includes Emerging Markets and better reflects the investment universe taken into consideration by the investment team. There will be no change to the way in which the Sub-Fund is managed and there will be no changes to the Sub-Fund s charges and expenses. This notice is for your information only. No action is required of you. Global Financials Fund.pdf 8. PARVEST Notice to Shareholders We have been informed that the following changes will be incorporated in the next version of the prospectus dated November 2016 and will be effect on 2 November 2016: The sub-fund Equity Europe Mid Cap The criteria for defining Mid Cap Companies is changed as follows: Companies with a market capitalisation of less than 130% of the highest market capitalisation and greater than 70% of the lowest market capitalisation (observed at the beginning of each financial year) of the STOXX Europe Mid 200 index, that have their registered offices or conduct the majority of their business activities in Europe

7 Other updates. This notice is for your information only. No action is required of you. For more information, kindly refer to the attached notification. to Lux Prospectus Nov ( ).pdf 9. Schroder Emerging Europe Fund (the Terminating Sub-Fund ) Notice of Meeting of Unitholders The Terminating Sub-Fund is a feeder fund investing substantially into the EUR A Accumulation Class of shares of the Schroder International Selection Fund Emerging Europe (the "Underlying Fund"), being a subfund of the Luxembourg-domiciled Schroder International Selection Fund, a SICAV. Investors in the Terminating Sub-Fund are subject to two layers of fees - one at the Terminating Sub-Fund level and one at the Underlying Fund level. In comparison, investors who invest directly in the Underlying Fund are subject to only one layer of fees and accordingly the Terminating Sub-Fund has a comparatively higher expense ratio than the Underlying Fund due to the extra layer of fees resulting from the feeder fund structure. For the above reasons, Schroders is proposing to remove the feeder fund structure of the Terminating Sub- Fund and to "switch" units in the Terminating Sub-Fund ( Units ) to shares of the EUR A Accumulation Class of shares of the Underlying Fund, as this would effectively remove one layer of fees at the Terminating Sub- Fund level. The Meeting Holders of the Sub-Fund will be held on 27 October 2016, 2.30 p.m at Level 23, 138 Market Street, CapitaGreen, Singapore for the purposes of terminating the Terminating Sub-Fund and approving the "switch" to the shares of the EUR A Accumulation Class of shares of the Underlying Fund. We have enclosed a copy of the Meeting notification together with the following document for your action: (1) Proxy Form Hence, please reply to clienthelp@fundsupermart.com by 20 October 2016 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. In the meantime, the Terminating Sub-Fund will be suspended with effect from 25 October 2016 until the date of the meeting of Holders, 27 October The following sets out the various options which may be available to you: Clients may continue to hold existing units in the Terminating Sub-Fund. No action is required of you. If the extraordinary resolution is passed, below will apply: - 7 -

8 (i) Eligible Holders Clients will be distributed shares of the EUR A Accumulation Class of shares of the Underlying Fund, Schroder International Selection Fund Emerging Europe, and the number of such shares to be distributed to clients will be determined by dividing the aggregate value of the amount of cash liquidation proceeds which clients would have been entitled to receive pursuant to the terms of the Deed by the net asset value per share of the EUR A Accumulation Class of shares of the Underlying Fund as at the first dealing day following the termination date of the Terminating Sub-Fund. (ii) Holders of Units purchased under Supplementary Retirement Scheme ( SRS Holders ) Schroders will not switch Units purchased under the Supplementary Retirement Scheme ( SRS ), as the Underlying Fund will not be participating in the SRS. In this connection, SRS Holders will entitled to receive such amount of cash liquidation pursuant to the terms of the Deed the amount of which will be proportionate to clients interest in the Terminating Sub-Fund. (iii) Holders of Units purchased under Central Provident Fund Investment Scheme ( CPF Holders ) Schroders will not switch Units purchased under the Central Provident Fund Investment Scheme ( CPFIS ), as the Underlying Fund is not included under the CPFIS. In this connection, CPF Holders will entitled to receive such amount of cash liquidation pursuant to the terms of the Deed the amount of which will be proportionate to clients interest in the Terminating Sub-Fund. The liquidation proceeds will be credited back to client s Investment Account held with the CPF/SRS Agent Bank as soon as practicably reasonable. Option 2 Switching of existing units From now till 24 October 2016, 3pm, clients may switch to another fund that is available on our website for free. If clients have invested in the Terminating Sub-Fund using CPF Ordinary Account or SRS monies, please note that clients may only switch into other funds that are included in the CPFIS for the Ordinary Account or accept SRS monies respectively. For Option 2, any CPF agent bank charges will be borne by Schroders. SEEF( ).pdf 10. Schroder Global High Yield Fund (the Terminating Sub-Fund ) Notice of Meeting of Unitholders The Terminating Sub-Fund is a feeder fund investing substantially into the USD A Distribution Class of shares of the Schroder International Selection Fund Global High Yield (the "Underlying Fund"), being a sub-fund of the Luxembourg-domiciled Schroder International Selection Fund, a SICAV. Investors in the Terminating Sub-Fund are subject to two layers of fees - one at the Terminating Sub-Fund level and one at the Underlying Fund level. In comparison, investors who invest directly in the Underlying Fund are subject to only one layer of fees and accordingly the Terminating Sub-Fund has a comparatively higher expense ratio than the Underlying Fund due to the extra layer of fees resulting from the feeder fund structure

9 For the above reasons, Schroders is proposing to remove the feeder fund structure of the Terminating Sub- Fund and to "switch" units in the Terminating Sub-Fund ( Units ) to shares of the SGD Hedged A Distribution Class of shares of the Underlying Fund, as this would effectively remove one layer of fees at the Terminating Sub-Fund level. The Meeting Holders of the Sub-Fund will be held on 27 October 2016, a.m at Level 23, 138 Market Street, CapitaGreen, Singapore for the purposes of terminating the Terminating Sub-Fund and approving the "switch" to the shares of the SGD Hedged A Distribution Class of shares of the Underlying Fund. We have enclosed a copy of the Meeting notification together with the following document for your action: (1) Proxy Form Hence, please reply to clienthelp@fundsupermart.com by 20 October 2016 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. In the meantime, the Terminating Sub-Fund will be suspended with effect from 25 October 2016 until the date of the meeting of Holders, 27 October The following sets out the various options which may be available to you: Clients may continue to hold existing units in the Terminating Sub-Fund. No action is required of you. If the extraordinary resolution is passed, below will apply: (i) Eligible Holders Clients will be distributed shares of the SGD Hedged A Distribution Class of shares of the Underlying Fund, Schroder International Selection Fund Global High Yield, and the number of such shares to be distributed to clients will be determined by dividing the aggregate value of the amount of cash liquidation proceeds which clients would have been entitled to receive pursuant to the terms of the Deed by the net asset value per share of the SGD Hedged A Distribution Class of shares of the Underlying Fund as at the first dealing day following the termination date of the Terminating Sub- Fund. (ii) Holders of Units purchased under Supplementary Retirement Scheme ( SRS Holders ) Schroders will not switch Units purchased under the Supplementary Retirement Scheme ( SRS ), as the Underlying Fund will not be participating in the SRS. In this connection, SRS Holders will entitled to receive such amount of cash liquidation pursuant to the terms of the Deed the amount of which will be proportionate to clients interest in the Terminating Sub-Fund. The liquidation proceeds will be credited back to client s Investment Account held with the SRS Agent Bank as soon as practicably reasonable

10 Option 2 Switching of existing units From now till 24 October 2016, 3pm, clients may switch to another fund that is available on our website for free. If clients have invested in the Terminating Sub-Fund using SRS monies, please note that clients may only switch their units into other funds that is available for investment using SRS monies. SGHYF( ).pdf 11. United SGD Fund (the Sub-Fund ) Notice of Increase in Management Fee We have been informed that the annual management fee of the Sub-Fund for each of the Class A (Acc) SGD, Class A (Dist) SGD, Class A (Acc) USD (Hedged) and Class A (Dist) USD (Hedged) will be increased from the current rate of 0.60% per annum to the new rate of 0.63% per annum of the net asset value of the relevant Class with effect from 1 November 2016 (the Effective Date ). Such increased rates of Management Fee are within the maximum rate of 1.5% per annum provided for in respect of the Sub-Fund in the trust deed of the Fund. The Managers are increasing the Management Fee due to an increase in the cost structure of different business lines (e.g. increased overhead costs and costs for system upgrade and maintenance) and the requirement to enhance process flows in order to comply with more stringent regulatory and compliance standards. The Management Fee is payable out of the Sub-Fund to the Managers. The above change has no effect on client s current holding of units in the Sub-Fund. This notice is for your information only. No action is required of you. SGD Fd( ).pdf 12. Administration Fee United Global Durable Equities Fund, United Income Focus Trust and United Japan Small and Mid Cap Fund (each, an affected fund ) In recent years, UOBAM have been upgrading their systems and processes to provide better services to investors and clients. UOBAM has also strengthened the monitoring and compliance capabilities to meet the more stringent regulatory standards imposed by both local and foreign regulators. Unfortunately, these programs have been implemented during a period of increasing business costs, including overheads and wages. In view of this, we have been informed that UOBAM will be imposing an administration fee of 0.075% per annum of the net asset value of each of the affected funds with effect from 1 November 2016 (the "Effective Date"). The administration fee will be payable out of each affected fund to UOB Asset Management as the manager of that fund. The above change has no effect on client s current holding of units in any affected fund. This notice is for your information only. No action is required of you

11 Admin Fee( ).pdf 13. Fullerton Lux Funds (the Company ) Annual General Meeting The Annual General Meeting of the Company will be held on 21 September 2016, a.m. at the Registered Office of the Company, 60, avenue J.F. Kennedy, L-1860 Luxembourg. LUX AGM (20 Sep).pdf 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