AIFMD & Change of Company Secretary

RNS Number : 9704K

JPMorgan Russian Securities PLC

30 June 2014

 



JPMorgan Russian Securities plc

NOTICE OF ENTRY INTO ARRANGEMENTS WITH SERVICE PROVIDERS TO ENSURE COMPLIANCE WITH THE ALTERNATIVE INVESTMENT FUND MANAGERS DIRECTIVE (2011/61/EU) ("AIFMD") AND CHANGE OF COMPANY SECRETARY

JPMorgan Russian Securities plc (the "Company") announces that with effect from 1st July 2014 the Company will enter into the arrangements necessary to ensure compliance with the AIFMD.

Following a review of the Company's arrangements, the Company's board of Directors (the "Board") has approved the appointment of JPMorgan Funds Limited ("JPMF") as the Company's Alternative Investment Fund Manager ("AIFM") on the terms of and subject to the conditions of a new investment management agreement between the Company and JPMF. JPMF is an affiliate of JPMorgan Asset Management (UK) Limited ("JPMAM(UK)") and has been approved as an AIFM by the UK's Financial Conduct Authority.

The existing investment management agreement between the Company and JPMAM(UK), which is not authorised as an AIFM, has been terminated, although JPMAM(UK) has been appointed by JPMF as investment manager to the Company, pursuant to a delegation agreement.

The management fee and notice period remain unchanged.

The Board will also appoint BNY Mellon Trust & Depositary (UK) Limited (the "Depositary"), of BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA, to act as the Company's Depositary (as required by the AIFMD) on the terms and subject to the conditions of a Depositary agreement entered into between the Company, the AIFM and the Depositary.

The Company's Custodian, JPMorgan Chase Bank, NA will remain as Custodian as a delegate of the Depositary.

JPMorgan Funds Limited will also act as the new company secretary to the Company from 1st July 2014, replacing the currently appointed secretary, JPMorgan Asset Management (UK) Limited. 

For enquiries please contact:

Rebecca Burtonwood

JPMorgan Asset Management (UK) Limited

Company Secretary

Tel: [phone]

Richard Plaskett

JPMorgan Asset Management (UK) Limited

Tel: [phone]

30^th June 2014

 

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