Restrictions on investment in the G FUND European Convertible Bonds compartment

10/10/2018

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On 02 October 2018, the Board of Directors of the G FUND open-end collective investment fund ("SICAV") decided, in conformity with the provisions of the prospectus currently in force, to activate the restrictions applicable to subscriptions (i.e. to perform a "hard close") of the G FUND - European Convertible Bonds compartment on reaching a defined limit in its assets under management.

On 02 October 2018, the Board of Directors of the G FUND open-end collective investment fund (“SICAV”) decided, in conformity with the provisions of the prospectus currently in force, to activate the restrictions applicable to subscriptions (i.e. to perform a “hard close”) of the G FUND – European Convertible Bonds compartment on reaching a defined limit in its assets under management. So, with effect from said date, the G FUND – European Convertible Bonds compartment will be closed to all new subscriptions as soon as its assets under management attain 800 million euros.

G FUND – European Convertible Bonds is a compartment of the Luxembourg-based G FUND open-end collective investment fund (“SICAV”) managed by Groupama Asset Management and invested in European convertible bonds, with the management aim of outperforming the fund’s benchmark index, the EXANE Convertibles Europe index.

To achieve this aim, the manager implements a conviction-based management approach, independently of the fund’s benchmark index, in order to maximize performance and position the fund as one of the leaders in its category.

Over the last 2 years, the Convertible Bonds strategies have attracted an acceleration in inflow, with subscriptions totalling almost 630 million euros.

Groupama Asset Management, in agreement with the Board of Directors of G FUND, has decided to set a limit on subscriptions to this compartment, not only to protect the interests of existing shareholders but also to maintain the integrity of the investment strategy. The aim of the hard closure is to ensure suitable management of the capacities of the compartment and to preserve regularity in performance levels. This will allow our fund managers to continue to apply their strategy systematically and with conviction.

 


Regulatory information on G Fund European Convertible Bonds

The restriction of subscriptions will be applied to all the shares mentioned in the tables below, with effect from 2 October at 12:00 hrs. (Luxembourg time)

 

ISIN Code GD: LU0675297153/ ICHF: LU0571100667 / ICHFH:  LU1515103700 / IUSD: LU1515103619/ IUSDH: LU1501412735/ NC: LU0571100824 / NCHF: LU0571101046 / NCHFH:LU1515103452 / NUSD:  LU1515103379 / NUSDH:  LU1515103536/ OD: LU1501412818 / R: LU1622557467
Legal status Compartment, under Luxembourg law, (open-end collective investment fund).
Benchmark EXANE Convertibles EUROPE
Type of investment fund UCITS
Total Net Assets 750 Mill. EUR on 28/09/2018
NAV valuation period Daily
Subscriptions / redemptions Every day up to 12:00 h, Luxembourg time

– NAV unknown – Settlement D+3

Custodian bank CACEIS BANK Luxembourg

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