AIFMD Arrangements

RNS Number : 2752M

Aberdeen New Dawn Invest Trust PLC

14 July 2014

 



14 July 2014

ABERDEEN NEW DAWN INVESTMENT TRUST PLC

AIFMD Arrangements

Aberdeen New Dawn Investment Trust PLC ("the Company") announces the following in connection with the Alternative Investment Fund Managers Directive ("AIFM Directive"):

Alternative Investment Fund Manager

The Company's investment management arrangements with the Aberdeen Asset Management Group have been reorganised and the Company has appointed Aberdeen Fund Managers Limited ("AFML"), a wholly owned subsidiary of Aberdeen Asset Management PLC, as its alternative investment fund manager with effect from 15 July 2014.  In order to facilitate this appointment, the Company has terminated its existing investment management agreement with Aberdeen Asset Management Asia Limited ("Aberdeen Asia") and entered into a new management agreement with AFML. The new management agreement is made on the same commercial terms as the previous agreement with Aberdeen Asia and is also compliant with the new regulatory regime. Under these new arrangements, the Company's portfolio will continue to be managed by Aberdeen Asia by way of a group delegation agreement in place between AFML and Aberdeen Asia.

Depositary

As required by the AIFM Directive, the Company has appointed BNP Paribas Securities Services, London Branch as its depositary for the provision of safekeeping of financial instruments, oversight of other assets, cash monitoring and oversight services to the Company. This appointment will take effect on 15 July 2014 and supersedes existing arrangements with BNP Paribas Securities Services as custodian as at that date. 

Pre-investment disclosure document

In addition, in accordance with Article 23 of the AIFM Directive and Rule 3.2.2 of the FCA FUND Sourcebook, disclosures for potential investors in the Company (which AFML is required to make available) will be available on the Company's website from 15 July 2014.  A link to the website can be found at www.newdawn-trust.co.uk.

Aberdeen Asset Management PLC, Secretary

 

END

 

 

MSCGGUUPMUPCGAC