Sicav M CONVERTIBLES
Information for the attention of unitholders.
Sicav M CONVERTIBLES
Share classes IC: ISIN FR0013084357 - Share classes ID: ISIN FR0013084365
Share classes AC: ISIN FR0013083680 - Share classes AD: ISIN FR0013084340
As at 10 Septembre 2020, the following change will be made to your Sicav M CONVERTIBLES.
1- The operation
- A net asset value adjustment mechanism known as "Swing Pricing" with a trigger threshold is in place across all of SICAV's share classes. The purpose of this mechanism, framed by a policy, is to protect shareholders who remain in the SICAV by making them bear as little as possible the costs associated with subscriptions/redemptions made by other investors. It results in the calculation of an adjusted NAV called "swing".
This operation does not imply any specific action on the part of the shareholders and all the other characteristics of the Fund remain unchanged.
2- Changes caused by the operation
- Risk Profile:
Change in risk/return profile: No
Increase in risk/return profile: No
- Fee Increase: No
Description of changess:
This Swing Pricing mechanism, framed by a policy, consists, starting from a trigger threshold, in adjusting the net asset value upwards or downwards, depending on the change in the net balance of subscriptions/redemptions, in order to protect the shareholders who remain in the SICAV, by making them bear as little as possible the costs of portfolio reorganizing, linked to the transactions carried out on the assets of the SICAV due to the movements (subscriptions/redemptions) of the SICAV's liabilities. The result of this mechanism is to calculate an adjusted net asset value known as the "swinged" net asset value, which shall constitute the only net asset value of the SICAV to be disclosed.
The costs of reorganizing the portfolio induced by the purchase/sale of securities are estimated on the basis of transaction costs, the ranges between purchase and sale prices on the market for securities held in the portfolio, as well as any applicable taxes.
3- Elements to be kept in mind for the investor
Shareholders are reminded of the need and importance to read the Key Investor Information Document (KID) and the Prospectus, available on the NAV and Documents page of the website www.montpensier.com. In general, it is recommended that shareholders of the Fund contact their usual investment advisor on a regular basis.
The DICI and Prospectus are available, as of the effective date of the change of prospectus, on the website of the asset management company www.montpensier.com and can be sent to you within one week upon request to the registered office of Montpensier Finance, 58 avenue Marceau - 75008 Paris.