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| Name | Symbol | Market | Type |
|---|---|---|---|
| Xrussl Mid | LSE:XRMU | London | Exchange Traded Fund |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.055 | -0.12% | 44.775 | 44.73 | 44.82 | 44.825 | 44.305 | 44.45 | 371 | 16:29:59 |
From May 2019 to May 2024
Concept Fund Solutions plc
Investment Company with Variable Capital
Registered Office: 78 Sir John Rogerson's Quay, Dublin 2, Ireland
Registration number: 393802
(the "Company")
Registered in Dublin as an open-ended variable capital umbrella investment company with limited liability and as an umbrella fund with segregated liability between sub-funds. Regulated by the Central Bank of Ireland.
Registration Number 393802. Registered Office as above.
Directors: Tom Murray (Irish), Michael Whelan (Irish), Alex McKenna (UK), Gerry Grimes (Irish), Manooj Mistry (UK)
IMPORTANT NOTICE TO ALL SHAREHOLDERS
OF THE COMPANY
29 November 2017
This letter is to inform the shareholders of the Company on behalf of the board of directors of the Company (the "Board of Directors") about its decision (i) to amend certain definitions and introduce certain new definitions in the prospectus of the Company (the "Prospectus"), in relation to the subscription and repurchase of Shares, (ii) to change the cut-off times for certain sub-funds of the Company (the "Funds") and (iii) to change the investment manager of the Company (collectively referred to as the "Changes"). Details of the Changes are listed below. The Changes will take effect from 15 December 2017 (the "Effective Date").
1.Changes to the Definitions
With effect from the Effective Date, the following changes to the definitions will take place:
Hot Features
Premium
Current definition New definition
Business Day Business Day
means, in relation to any Fund, each day as is specified as such in the Supplement for the relevant Fund; means (unless otherwise provided in the Supplement for the relevant Fund) a day which is a London Banking Day.
Banking Day
means a day (other than a Saturday or Sunday) on which commercial banks are open and settle payments in Dublin;
Dealing Day Transaction Day
means, in respect of each Fund, each Business Day on which subscriptions means a day for which subscriptions for, exchanges of and repurchases of Shares
for, repurchases of and exchanges of relevant Shares can be made by can be made in order to be dealt with by the Administrator as described
the Company as specified in the Supplement for the relevant Fund provided under "Subscriptions for Shares (Primary Market)", "Repurchase of Shares
that there shall be at least two Dealing Days in each month; (Primary Market)" and "Exchange of Shares" in the Prospectus.
In general, each Business Day will be a Transaction Day.
However, some Business Days will not be Transaction Days where
Significant Markets are closed and/or such other days
as the Company may from time to time determine provided that
there is at least one Transaction Day per fortnight.
Any applications received by the Administrator after the Cut-off
Time for a Transaction Day will be deferred to the next
Transaction Day and processed on the basis of the Net Asset Value
per Share calculated for such deferred Transaction Day.
The Company may declare that a Business Day is a Transaction Day when a Significant
Market is closed, in its discretion, where it believes it to be
more appropriate. The Transaction Day for each Sub-Fund is available from
the Investment Manager and/or sub-investment and sub-portfolio managers.
Dealing Deadline Cut-off Time
means, in relation to any application for subscription, repurchase or exchange of Shares of a Fund, means the latest time by which an order for a subscription, repurchase or exchange can be received
the day and time specified in the Supplement for the relevant Fund by which such application must for a Transaction Day, as further set out in the Supplement for the relevant Fund.
be received by the Administrator on behalf of the Company in order for the subscription, repurchase
or exchange of Shares of the Fund to be made by the Company on the relevant Dealing Day.
NAV Publication Date NAV Date
means the date upon which the Net Asset Value in respect of a particular Dealing Day is published; means (unless otherwise provided in the Supplement for the relevant Fund) a day which is a Business Day.
A NAV Date is the day as of which the assets and liabilities of the
Fund are valued in accordance with the section headed "Calculation
of Net Asset Value/Valuation of Assets" of the Prospectus. For the
avoidance of doubt, each Transaction Day will be a NAV Date.
Valuation Point Valuation Day
means the time on any Business Day by reference to which the Net Asset means (unless otherwise defined in the Supplement for the relevant
Value of a Fund and the Net Asset Value per Share are calculated Fund) the first Business Day following a NAV Date.
as is specified in the Supplement for the relevant Fund provided that A Valuation Day is the day on which the Net Asset Value in respect of a Fund is calculated and published.
there shall be at least two Valuation Points in every month.
2.Introduction of new definitions
With effect from the Effective Date, the following new definitions will be introduced:
Direct Replication means any market and/or exchange
Significant Market or combination
of markets and/or exchanges
where the value of the Fund's
investments in those markets
and/or exchanges exceeds 30 percent.
of the Net Asset Value of the
Fund, calculated on a quarterly basis
and recorded in the Company's
financial statements. The Company
may determine that a different
percentage of Net Asset Value and/or
date may apply at their
discretion where they believe it
is more appropriate and will be
notified to the relevant Authorised
Participants accordingly.
Indirect Replication means any market and/or
Significant Market exchange on which
constituents of the Index
are traded,
unless otherwise set out
in the Supplement
for the relevant Fund.
London Banking Day means a day on which
commercial banks are
open and settle payments in London,
excluding days on which
such commercial
banks are open for only half a day.
Significant Market means either a Direct Replication
Significant Market
or an Indirect Replication
Significant Market.
Further to the introduction of the new definition of "Cut-off Time" in the main body of the Prospectus, the relevant Cut-off Time for a particular Fund will be detailed in the supplement (the "Supplement") for the relevant Fund.
The new definition of "Direct Replication Significant Market" in the main body of the Prospectus will apply to any Fund which follows a direct replication investment policy. The Supplement of any Direct Replication Fund will state that the aforementioned definition of Direct Replication Significant Market applies.
The new definition of "Indirect Replication Significant Market" in the main body of the Prospectus will apply to any Fund which follows an indirect replication investment policy. The Supplement of any Indirect Replication Fund will state that the aforementioned definition of Indirect Replication Significant Market applies.
The reasons for the Changes are as follows:
(i) Currently, the Company is unable to accept orders for Funds on a day where the Index is not published for such a Business Day, whereas such acceptance of orders will be possible following the Changes; and
(ii) Sub-portfolio managers no longer wish to accept orders for subscriptions, repurchases and exchanges on a day which is not a London Banking Day.
3.Change of Cut-off Time
The attention of Shareholders is drawn to the fact that, as from the Effective Date, the Cut-off Time (as per the new definition) for certain Funds will change as described in the Annex 1 to this notice.
Save for the Changes described above, the investment policy, the investment strategy, the risk profile and the fees of the Funds will remain unchanged. There will also be no changes to the operation and/or manner in which the Funds are being managed.
4.Change of Investment Manager
The Board of Directors has resolved that Deutsche Asset Management S.A. (the "Investment Manager") will take over responsibilities from Deutsche International Corporate Services (Ireland) Limited as investment manager of the Company.
The Investment Manager has been established under the laws of the Grand Duchy of Luxembourg in the form of a "Société Anonyme" on 15 April 1987 having its registered office at 2, boulevard Konrad Adenauer, L-1115 Luxembourg, Grand Duchy of Luxembourg. The Investment Manager is registered with the Luxembourg Trade and Companies' Register under number B-25.754. The Investment Manager is authorised as a UCITS management company under Chapter 15 of the Luxembourg law of 17 December 2010 relating to undertakings for collective investment, as may be amended and as an alternative investment fund manager under Chapter 2 of the Luxembourg law of 12 July 2013 relating to alternative investment fund managers and implementing the AIFM Directive into Luxembourg legislation.
The Company will enter into an investment management agreement with the Investment Manager on substantially similar terms and conditions and subject to the same fees as the outgoing investment manager.
Existing processes, competencies and portfolio management responsibilities as well as the account and relationship manager for each Shareholder will not change.
No costs or expenses relating to the above Changes and their implementation will be borne by the Company, the Funds and/or their investors.
The above mentioned Changes will be reflected in a revised Prospectus and, where relevant, revised Supplements of the Funds to be issued on or around the Effective Date. Revised copies of the Prospectus and relevant Supplements reflecting the Changes will be available on the website of the Company (www.Xtrackers.com), and may be obtained free of charge at the Company's registered office or at the foreign representatives' offices, once available.
Capitalised terms used in this notice shall have the meaning ascribed to them in the current Prospectus unless the context otherwise requires.
This notice is for information purposes only. Shareholders are not required to take any action.
If you have any queries or if any of the above is not clear, you should seek advice from your stockbroker, bank manager, legal adviser, accountant or other independent financial advisor.
Further information in relation to this change may be obtained from the Company at its registered address, the offices of foreign representatives or by sending an email to Xtrackers@db.com.
Yours faithfully
______________________
Director
for and on behalf of
Concept Fund Solutions plc
Contact information
Concept Fund Solutions plc
78 Sir John Rogerson's Quay
Dublin 2
Neither the contents of the Company's website nor the contents of any other website accessible from hyperlinks on the Company's website is incorporated into, or forms part of, this announcement.
Annex 1
Changes in Cut-off Times
Name of the Fund ISIN Current Cut-off New Cut-off Time
Time
db x-trackers FTSE IE00BZ0CYG46 15:00 Dublin 15:30 Dublin
100 Equal Time on the Time on the
Weight UCITS relevant Dealing relevant Transaction
ETF (DR) Day Day
db x-trackers IE00B9MRJJ36 13:30 Dublin 14:00 Dublin
Mittelstand Time Time on the
& MidCap on the relevant relevant Transaction
Germany UCITS Dealing Day / Day
ETF (DR) 15:00 Dublin
Time on the
relevant
Dealing
Day for in-kind
db x-trackers IE00BJZ2DD79 16:00 Dublin 16:30 Dublin
Russell Time on the Time on the
2000 UCITS ETF (DR) relevant Dealing relevant Transaction
Day Day
db x-trackers IE00BJZ2DC62 16:00 Dublin 16:30 Dublin
Russell Time on the Time on the
Midcap relevant Dealing relevant Transaction
UCITS ETF (DR) Day Day
db x-trackers IE00BH361H73 15:00 Dublin 14:30 Dublin
MSCI North Time on the Time on the
America High relevant Dealing relevant Transaction
Dividend Day Day
Yield Index UCITS
ETF (DR)
db x-trackers MSCI IE00BCHWNS19 16:00 Dublin 16:30 Dublin
USA Energy Time on the Time on the
Index UCITS relevant Dealing relevant Transaction
ETF (DR) Day Day
db x-trackers IE00BGQYRR35 16:00 Dublin 16:30 Dublin
MSCI USA Time on the Time on the
Consumer relevant Dealing relevant Transaction
Discretionary Day Day
Index UCITS
ETF (DR)
db x-trackers MSCI IE00BM67HN09 16:00 Dublin 16:30 Dublin
USA Consumer Time on the Time on the
Staples Index UCITS relevant Dealing relevant Transaction
ETF (DR) Day Day
db x-trackers MSCI IE00BCHWNT26 16:00 Dublin 16:30 Dublin
USA Financials Time on the Time on the
Index UCITS relevant Dealing relevant Transaction
ETF (DR) Day Day
db x-trackers MSCI IE00BCHWNW54 16:00 Dublin 16:30 Dublin
USA Health Time on the Time on the
Care Index UCITS relevant Dealing relevant Transaction
ETF (DR) Day Day
db x-trackers MSCI IE00BGQYRS42 16:00 Dublin 16:30 Dublin
USA Information Time on the Time on the
Technology Index relevant Dealing relevant Transaction
UCITS ETF (DR) Day Day
LEI: 5493001R2VWIV9D4XH46
Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
View source version on businesswire.com: http://www.businesswire.com/news/home/20171129005059/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
November 29, 2017 04:00 ET (09:00 GMT)
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