Information to the shareholders - Gates and Swing pricing
The Autorité des Marchés Financiers (French financial markets authority; AMF) permits management companies to equip their UCIs with mechanisms for capping redemption requests (gates) and for offsetting or reducing the portfolio restructuring costs incurred by all unitholders upon subscription or redemption (swing pricing). These mechanisms may be implemented using a simplified procedure provided they are in effect by 31 December 2023 at the latest.
Groupama AM has decided to equip all of its affected open-ended funds (i.e. all funds except employee savings plans (FCPEs), closed-ended AIFs and money market funds) with these two mechanisms. The regulatory documents of the funds in question will be adapted as appropriate over the course of the year.