Edmond de Rothschild hat uns darüber informiert, dass folgende Fonds zum 16. Dezember 2015 fusionieren. Die Anteile des „abgebenden Fonds“ gehen damit in dem „aufnehmenden Fonds“ auf.
Das Umtauschverhältnis wird von der Fondsgesellschaft vorgegebenen und am Fusionstag bekannt gemacht.
| Abgebender Fonds | ISIN | Aufnehmender Fonds | ISIN |
|---|---|---|---|
| Edmond de Rothschild Fund Euro Government Bonds Mid Term A | LU0112657076 | Edmond de Rothschild Fund Euro Long Duration Govt Bonds A | LU1160371149 |
Anteile des „abgebenden“ Fonds können über die FFB nicht mehr gekauft werden. Verkaufsaufträge können noch bis zum 3. Dezember 2015 eingereicht werden.
Bei der Fondszusammenlegung verfahren wir nach dem Vorschlag der Fondsgesellschaft. Pläne in den „abgebenden“ Fonds werden automatisch auf den „aufnehmenden“ Fonds
umgestellt und dort fortgeführt. Beachten Sie hierbei jedoch eventuell abweichende Anlageschwerpunkte. Sollen zur Abdeckung der ursprünglichen Anlageziele andere Fonds genutzt werden, benötigen wir einen neuen schriftlichen Auftrag.
Wir weisen darauf hin, dass die Verschmelzung für unsere gemeinsamen Kunden unter Umständen steuerliche Konsequenzen hat. Wir empfehlen den Kunden daher, sich bei ihrem Steuer- bzw. Finanzberater über die steuerlichen Auswirkungen zu informieren.
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
EDMOND DE ROTHSCHILD FUND
Société d’investissement à capital variable organisée sous la forme d’une société anonyme Registered office: 20, boulevard Emmanuel Servais, L-2535 Luxembourg
Grand Duchy of Luxembourg
R.C.S. Luxembourg: B 76441
NOTICE TO THE SHAREHOLDERS OF EDMOND DE ROTHSCHILD FUND – EURO GOVERNMENT BONDS MID TERM AND EDMOND DE ROTHSCHILD FUND – EURO LONG DURATION GOVT BONDS, EACH A SUB-FUND OF EDMOND DE ROTHSCHILD FUND
1. PROPOSED MERGER
You are hereby informed that the board of directors of Edmond de Rothschild Fund (the Board) intends to merge the Euro Government Bonds Mid Term (the Merging Sub-Fund) and Euro Long Duration Govt Bonds (the Receiving Sub-Fund) (the Merger). Both the Merging Sub-Fund and the Receiving Sub-Fund (the Sub-Funds) are sub-funds of Edmond de Rothschild Fund (the Fund), a Luxembourg investment company with variable share capital (société d’investissement à capital variable) incorporated as a public limited liability company (société anonyme) subject to, and authorised under, part I of the Luxembourg act dated 17 December 2010 on undertakings for collective investment, as amended (the 2010 Act).
The Merger has been approved by the Luxembourg supervisory authority, the Commission de Surveillance du Secteur Financier.
Capitalised terms used herein without definition have the meaning ascribed to them in the last visastamped prospectus of the Fund dated August 2015 (the Prospectus).
2. BACKGROUND AND RATIONALE FOR THE PROPOSED MERGER
The decision on the Merger is taken in the interest of economic efficiency in the management of the Sub-Funds, as it will enable the Merging Sub-Fund and the Receiving Sub-Fund to be managed as a sole sub-fund of the Fund.
The rationale for the Merger is mainly the optimisation of the management of the Sub-Funds in view of an economic rationalisation. The Board considers that it would be in the best interest of the Shareholders of the Sub-Funds to manage their portfolios in common in order to reduce costs and more specifically to reduce the total expense ratio. This will permit more efficient investments and a higher growth potential for the Receiving Sub-Fund.
Furthermore, the objective of the Board is to rationalise the products offered and managed by the Fund given the similarity of the target clients and the market positioning of the Sub-Funds. The Merger will thus lead to the offer of one single product offering daily liquidity to the investors.
The Merger is decided in accordance with section 4.4 of the Prospectus.
3. EFFECTIVE DATE
The Merger will take place on 16 December 2015 (the Effective Date) on the basis of the net asset values of the respective Sub-Funds dated 15 December 2015 and determined on 16 December 2015.
On the Effective Date, all assets and liabilities (if any) of the Merging Sub-Fund will be transferred to the Receiving Sub-Fund in exchange for the issue of Shares of Class A in the Receiving Sub-Fund to existing Shareholders of the Merging Sub-Fund on the Effective Date. The Merging Sub-Fund will be dissolved without going into liquidation thereafter.
4. REDEMPTION RIGHT
The Shareholders (in the Merging Sub-Fund and in the Receiving Sub-Fund) who do not wish to participate in the Merger will have the right to request the redemption of their Shares free of charge (save for the costs retained to meet disinvestment costs) in accordance with article 73(1) of the 2010 Act and section 4.4 of the Prospectus. Redemption requests must be sent in writing to the Management Company (acting as transfer agent of the Fund) or the relevant distributor(s). The right of the Shareholders to request the redemption of their Shares in the Merging Sub-Fund and in the Receiving Sub-Fund in accordance with article 73(1) of the 2010 Act will commence on 6 November 2015 and cease five Business Days prior to the date of calculation of the exchange ratio. As a result, redemption applications in the Merging Sub-fund and in the Receiving Sub-Fund must be received by the Management Company at the latest on 9 December 2015 at 12:30pm (Luxembourg Time). Any application for redemption received by the Management Company thereafter will not be accepted anymore.
The Shares held by those Shareholders of the Merging Sub-Fund and the Receiving Sub-Fund who exercised their right to redeem their Shares free of charge will be redeemed prior to the Effective Date.
The Shareholders of the Merging Sub-Fund who have not made use of their redemption right will become Shareholders of the Receiving Sub-Fund as of the Effective Date.
5. SUSPENSION OF THE SUBSCRIPTION IN THE MERGING SUB-FUND
As from the date of this notice of merger, no further requests for subscription in the Merging Sub- Fund will be accepted. Investors who wish to subscribe for shares in the Merging Sub-Fund must submit subscription requests in the Receiving Sub-Fund.
6. TRANSFER OF ASSETS AND LIABILITIES AND EXCHANGE OF SHARES
The unamortised costs of the Merging Sub-Fund will be transferred as a liability to the Receiving Sub- Fund. Any accrued but unpaid income in the Merging Sub-Fund will be carried forward to the Receiving Sub-Fund.
The redemption of Shares in the Merging Sub-fund will be suspended for the purpose of the Merger as from 9 December 2015 until and included the Effective Date.
The Receiving Sub-Fund will in exchange for the transfer of the assets and liabilities (if any) of the Merging Sub-Fund issue Shares in the Receiving Sub-Fund to the Shareholders of the Merging Sub- Fund. More precisely, the Shareholders of Class A of the Merging Sub-Fund will receive Shares of Class A of the Receiving Sub-Fund:
Class of the Merging Sub-Fund Class of the Receiving Sub-Fund
A (ISIN: LU0112657076) A (ISIN: LU1160371149)
As a result of the Merger, on the Effective Date, all Shares in the Merging Sub-Fund will be cancelled.
Shareholders who directly hold registered Shares of a Class A of the Merging Sub-Fund will be removed from the register of Shareholders of the Merging Sub-Fund and registered in the register of Shareholders of the Receiving Sub-Fund in Class A for a number of Shares determined based on the exchange ratio as of the Effective Date. The Shares in the Receiving Sub-Fund will be issued in registered form as of the Effective Date.
The Management Company will notify the relevant Shareholders of the Merging Sub-Fund of their admission to the register of Shareholders of the Receiving Sub-Fund.
7. VALUATION OF THE ASSETS AND LIABILITIES AND METHOD FOR CALCULATING THE EXCHANGE RATIO
The assets and liabilities (if any) of the Merging Sub-Fund will be valued on the basis of the net asset value dated 15 December 2015 and calculated on 16 December 2015 in accordance with the provisions of the articles of incorporation of the Fund (the Articles) and the Prospectus.
The exchange ratio per Share will be determined by dividing the net asset value per Share of Class A of the Merging Sub-Fund by the net asset value per Share of Class A of the Receiving Sub-Fund, each as determined as of 15 December 2015 and calculated on 16 December 2015.
The exchange ratio will be sent to the auditors of the Fund, PricewaterhouseCoopers, société coopérative (the Auditor) for approval.
8. EXPECTED IMPACT OF THE MERGER ON SHAREHOLDERS AND MAIN DIFFERENCES BETWEEN THE SUB-FUNDS
8.1 Expected impact of the Merger on Shareholders
The Receiving Sub-Fund will absorb the Merging Sub-Fund on the Effective Date. The Merger will not affect the investment objective, strategy and policy of the Receiving Sub-Fund, which will remain unchanged.
The Merging Sub-Fund will be dissolved, without going into liquidation, on the Effective Date.
Shareholders of the Merging Sub-Fund will receive Shares of Class A in the Receiving Sub-Fund and be bound by the terms and conditions applicable to the Receiving Sub-Fund as from the Effective Date.
The below sets out the principal features and differences between the Merging Sub-Fund and the Receiving Sub-Fund:
8.2 Costs
The costs of the Merger will be borne by the entities of the Edmond de Rothschild Group.
8.3 Investment objective, investment strategy and investment policy The objective and investment policy of the Merging Sub-Fund and the Receiving Sub-Fund are different as further set out in the table below.
