Compliance with AIFMD

RNS Number : 9754M

Troy Income & Growth Trust Plc

22 July 2014

 



TROY INCOME & GROWTH TRUST PLC

To:       RNS

From:  Troy Income & Growth Trust plc

Date:   22 July 2014

Compliance with AIFMD

In order to conform with the European Union's Alternative Investment Fund Managers Directive (the "AIFMD"), as it is required to do by 22 July 2014, the Board of Troy Income & Growth Trust plc (the "Company") confirms that it has appointed Personal Assets Trust Administration Company Limited with effect from 22 July 2014 as its alternative investment fund manager (the "AIFM").  Entering into a new AIFMD compliant management agreement with the AIFM has entailed the termination of the Company's existing investment management agreement with its current investment manager, Troy Asset Management Limited ("Troy"). With effect from 22 July 2014, however, the AIFM has delegated the portfolio management activities relating to the Company back to Troy pursuant to a delegation agreement and Troy will continue to provide portfolio management services to the Company as before. The delegation agreement between the Company, the AIFM and Troy is on the same commercial terms as the existing investment management agreement.

In connection with this the Company has also appointed J.P. Morgan Europe Limited (the "Depositary") as its depositary as required by the AIFMD.  The existing custody agreement with HSBC Bank plc has been terminated and JPMorgan Chase Bank NA will provide custody functions going forward as a delegate of the Depositary.

All enquiries:

Steven Cowie (Company Secretary)
Tel: [phone]

 

END

 

 

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