AIFMD Arrangements

RNS Number : 2761M

Murray Income Trust PLC

14 July 2014

 



14 July 2014

MURRAY INCOME TRUST PLC

AIFMD Arrangements

Murray Income 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 16 July 2014.  In order to facilitate this appointment, the Company has terminated its existing investment management agreement with Aberdeen Asset Managers Limited ("AAML") 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 AAML and is also compliant with the new regulatory regime. Under these new arrangements, the Company's portfolio will continue to be managed by AAML by way of a group delegation agreement in place between AFML and AAML.

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 also take effect on 16 July 2014.  The Company has therefore terminated its appointment of The Chase Manhattan Bank, London Branch as custodian with effect from 16 July 2014.  

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 16 July 2014.  A link to the website can be found at www.murray-income.co.uk.

Aberdeen Asset Management PLC, Secretary

 

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