Notice to shareholders (Liquidation)

RNS Number : 5010C

Lyxor ETF MSCI AC Asia ExJap FinTR?

16 April 2013

 



Paris, 12 April 2013

Dear Sir/Madam,

You are listed with us as a shareholder in the open-ended Multi-Units France Fund ("SICAV"), the financial management of which is delegated to the management company LYXOR INTERNATIONAL ASSET MANAGEMENT, and you are, in particular, shareholder(s) in the subfund:

LYXOR ETF MSCI AC ASIA EX JAPAN FINANCIALS TR

 C EUR: FR0010930479 - C USD: FR0010934323

classified as "International Equities"

The investment objective of this subfund is to seek upside or downside exposure to the shares of companies in Asia, ex-Japan, which operate in the financial sector, by tracking movements in the MSCI AC Asia Ex Japan Financials Net Total Return (net dividends re-invested) index, while minimising as far as possible the tracking error between the performances of the subfund and those of the MSCI AC Asia Ex Japan Financials Net Total Return (net dividends re-invested) index.

The Board of Directors of the Multi Units France SICAV has decided on the early winding up of this subfund. To date this subfund has attracted very little commercial interest from the markets and it has not been it possible to effectively implement the investment strategy described in the Prospectus.

In order to safeguard the interests of holders of the subfund's share classes, the Board of Directors will terminate the management of this subfund and repay the shares on the basis of the net asset value on 21 May 2013.

In accordance with the regulations, this winding up operation was submitted to the l'Autorité des Marchés Financiers(AMF), which approved it on 22 March 2013. From the date of despatch of this letter, subscriptions on the primary market will no longer be accepted.

For the C-EUR share class, the net asset value stood at EUR 24.5896 on 26 March 2013, i.e. a gross annualised rate of return equal to +5.36% since the launch of this class. However, this is not a gauge of the net asset value you will receive on the date set for the winding-up, which will be effective on 21 May 2013.

Until 15 May 2013 (inclusive), You can sell your C-EUR shares on NYSE Euronext (Paris or Brussels) and on Borsa Italianna at any time sell by placing a stock market order with your bank or usual broker. The quotation of the ETF on NYSE Euronext (Paris or Brussels) and on Borsa Italianna will be cancelled from the morning of 16 May 2013. From 21 May 2013, the remaining shares will be automatically redeemed without charge on the basis of the net asset value on 21 May 2013. The proceeds will be credited to your cash account without any need for action on your part.

For the C-USD share class, the net asset value stood at USD 31.6198 on 26 March 2013, i.e. a gross annualised return equal to +5.48% since the launch of this class. However, this is not a gauge of the net asset value you will receive on the date of the planned winding up, which will be effective on 21 May 2013.

Until 15 May 2013 (inclusive) you can sell your shares on the London Stock Exchange at any time by placing a stock market order with your bank or usual broker. The quotation of the ETF on the London Stock Exchange will be cancelled from the morning of 16 May 2013. From 21 May 2013, the remaining shares will be automatically redeemed without charge on the basis of the net asset value on 21 May 2013. The proceeds will be credited to your cash account without the need for any action on your part.

We would remind you that this redemption will be subject to ordinary tax rules applicable to capital gains on the sale of transferable securities.

Please make regular contact with your adviser for additional information on your investments.

Thank you for the trust you have placed in us.

Yours faithfully,

                                                                                                Alain Dubois

                                                                                                CEO

 

END

 

 

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