Investec hat uns darüber informiert, dass folgender Fonds bereits zum 01. Dezember 2015 liquidiert wird und nicht erst zum 15. Januar 2016, wie mit der FSN 394/2015 vom 16. Oktober 2015.
Das bedeutet, dass der gesamte Fonds aufgelöst und das angelegte Kapital einschließlich der aufgelaufenen Erträge an die Anteilinhaber anteilig ausgeschüttet wird.
| Fondsname | WKN | ISIN |
|---|---|---|
| Investec GSF – Africa Opportunities Fund A Acc gross USD | A1C1N5 | LU0518403992 |
Fondsanteile können über die FFB nicht mehr gekauft und zurückgegeben werden.
Liquidationserlöse schreiben wir der jeweiligen Referenzbankverbindung unserer Kunden gut.
Kunden, die zum Zeitpunkt der Auflösung ein FFB-Fondsdepot:plus besitzen, erhalten die Gutschrift des Liquidationserlöses auf ihrem Abwicklungskonto.
Kunden, die Pläne und/oder Bestände in diesem Fonds haben, informieren wir sowohl über die Auflösung als auch die Einstellung ihrer Pläne.
Den dauerhaften Datenträger der Fondsgesellschaft haben wir Ihnen beigelegt. Für die Verwahrung und Administration von Anteilen und die Umsetzung von Aufträgen verweisen wir auf unsere allgemeinen Geschäftsbedingungen und unser Preis- und Leistungsverzeichnis.
Freundliche Grüße
FFB-Vertriebspartnerbetreuung
Dear Investor,
Liquidation of the Investec Africa Opportunities Fund, a sub-fund of the Investec Global
Strategy Fund (‘GSF’)
We are writing further to our letter of 30 September 2015 where we informed you of our decision to liquidate and therefore close the Africa Opportunities Fund (the ‘Fund’) on 15 January 2016.
Change of the Liquidation Commencement Date
Due to changing market circumstances we have recently decided, in order to best serve the interests of all investors in the Fund, to bring the liquidation commencement date of the Fund forward to 1 December 2015 (the ‘Liquidation Commencement Date’). For the same reason we have also decided, in accordance with GSF’s articles of incorporation, to cease accepting requests for the subscription, redemption and conversion of shares of the Fund with effect from 20 November 2015 at 4pm New York time.
We believe these changes are necessary because the likely timing to repatriate, or convert, certain Fund property has increased due to changes in market conditions since we notified you of the process for the liquidation of the Fund in September. This means that investors in the Fund could be disadvantaged should the Fund receive large redemptions before the Fund is liquidated as their exposure to the Fund property subject to longer repatriation time periods would increase. Repatriation is the term used to describe the conversion and movement of currency received by the Fund on the sale of Fund property back to the base currency of the Fund (which is US dollars).
Liquidation process
In our previous letter we informed you of the possibility that the payment of the liquidation proceeds may take place in two installments where the repatriation timing of any Fund property required it, but at the time we did not expect to make a second payment. We may now need to pay the liquidation proceeds in two installments due to the timing of the repatriation of some of the property of the Fund.
On the Liquidation Commencement Date all your shares in the Fund will be redeemed at the net asset value per share calculated on the Liquidation Commencement Date. Within three business days, we will make a full payment to you subject to the repatriation of all Fund property being completed by that time.
If, however, the repatriation has not been completed, then we will make a partial payment to you within three business days of the Liquidation Commencement Date. The amount of this partial payment will represent the proportion of the Fund property that is not subject to delays in repatriation. At the date of this letter, this is expected to be at least 90% of the value of the liquidation proceeds.
A second payment representing the deferred amount, may be made once the remaining Fund property (the ‘Deferred Fund Property’) is repatriated and available to be paid to investors.
If we do make a second payment, then the indicative price per share calculated on the Liquidation Commencement Date will be a best estimate of the value of the Fund. However this may not represent the actual price per share that is paid to you. This is because the value of the Fund calculated on the Liquidation Commencement Date will include the Deferred Fund Property and will be valued using the exchange rate available at this time. The Deferred Fund Property will only be realised when its repatriation is possible, and it is likely that the prevailing foreign exchange rate at this later time will be different from the rate used in the calculation on the Liquidation Commencement Date.
As a result, the amount that you receive in the second payment may be more or less than the value of the Deferred Fund Property on the Liquidation Commencement Date.
In the event we do pay the liquidation proceeds to you in two installments, we will endeavor to make the final payment by the end of February 2016, if not before. This is on the same timetable communicated to you in our previous letter. However, please note our ability to meet this timetable would be subject to market conditions which you will appreciate are outside of our control. We would write to you again if there is any material delay in making a second payment by the end of February 2016.
Subject to us having all the necessary documentation in respect of your investment in the Fund, the proceeds of the redemption will be paid to the bank account which we have on file for you. Payments will be made in US dollars, except in the case where you have indicated that payments should be made in another, preferred currency.
Neither GSF nor Investec Asset Management will make any charges for the redemption.
Liquidation proceeds which are not able to be distributed to the relevant investors upon closure of the Fund will be deposited with the Caisse de Consignation on behalf of the persons entitled to them. If not claimed, they shall be forfeited after 30 years.
Investors are advised to consult their financial or tax advisor regarding any tax implications for them as a result of the liquidation of the Fund.
Contract notes
A contract note detailing the redemption, including the number of shares, the price per share and the proceeds payable will be sent to you, or, if applicable, your advisor. For the reasons mentioned above, please be advised that the proceeds payable to you as set out in the contract note may be different to the final amount you receive.
Costs
The liquidation of the Fund will require the sale of the assets of the Fund, the cost of which will be borne in full by the Fund. Other costs associated with the liquidation, such as legal, mailing and administration costs will be paid by GSF and these costs have been taken into account for the purposes of valuing the Fund.
More information
If you would like further information regarding the effect of the liquidation on your investment in the Fund, please contact your usual financial or tax advisor. Alternatively, our teams are available to help you. Please find their contact details at the top of this letter.
Thank you for your continued support.
Yours faithfully,
Grant Cameron John Green
Director Director
