Statement re AIFMD

RNS Number : 3345M

Witan Investment Trust PLC

15 July 2014

 

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

15 July 2014

The Board of Witan Investment Trust plc (the "Company") is pleased to announce that the Company has entered into the arrangements necessary to ensure compliance with the AIFMD.

Following a review of the Company's arrangements, the Board has approved the appointment of Witan Investment Services Limited ("WIS") as the Company's alternative investment fund manager (the "AIFM") on the terms of and subject to the conditions of a new agreement between the Company and WIS.  WIS was approved as an AIFM by the UK's Financial Conduct Authority on 14 July 2014.

The Board has appointed BNP Paribas Securities Services, London Branch (the "Depositary") to act as the Company's depositary (as required by the AIFMD) on the terms of and subject to the conditions of a depositary agreement between the Company, WIS and the Depositary.

The Company's existing investment management agreements between the Company and its 11 investment managers have not been amended other than to reflect the regulatory requirements to enable the Company to comply with the AIFMD.  In particular, the arrangements in respect of the management fees paid to the investment managers have not been changed.   Frostrow Capital LLP will continue to act as company secretary to the Company.

For further information please contact:

Andrew Bell

Chief Executive Officer

Witan Investment Trust plc

Telephone:  [phone]

 

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