Appointment of AIFM and Depositary

RNS Number : 9708M

Brunner Investment Trust PLC

22 July 2014

 



                                                                                                                        NEWS RELEASE

22 July 2014

The Brunner Investment Trust Plc

(the 'Company')

The Alternative Investment Fund Managers Directive ('AIFMD')

Appointment of AIFM  and Depositary

The Directors of the Company announce that the Company has adjusted its operational arrangements to ensure that it will comply with AIFMD.   Accordingly, the Directors of the Company announce the appointment of Allianz Global Investors Europe GmbH ('Allianz') as the designated Alternative Investment Fund Manager for the Company on the terms and subject to the conditions of the amended and restated management and administration agreement between the Company and Allianz (the 'Management Agreement'). Allianz has been authorised to act as an Alternative Investment Fund Manager by Bundesanstalt für Finanzdienstleistungsaufsicht ('BaFin') and has completed the relevant notifications to enable it to conduct its activities from its UK Branch in accordance with AIFMD and Financial Conduct Authority requirements.  The management fee and the notice period are unchanged in the Management Agreement.

The Company has also appointed HSBC Bank PLC (the 'Depositary') as its depositary in accordance with AIFMD on the terms and subject to the conditions of the depositary agreement between the Company, Allianz and the Depositary (the 'Depositary Agreement').  The Depositary Agreement will replace the existing custody agreement between the Company and HSBC Bank PLC.

Each of the Management Agreement and the Depositary Agreement will enter into effect on 22 July 2014.

For further information please contact:

Kirsten Salt

The Brunner Investment Trust PLC, Company Secretary

Telephone: [phone]

 

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