Krungsri Asset Management Company Limited (“the Management Company”) would like to notify unitholders of the amendment to the mutual fund project of Krungsri US Equity Index Hedged FX Fund (KF-HUSINDX) (“the Fund”); which has been approved by the Office of the Securities and Exchange Commission. The amendment is in relation to the rule on holding more than one-third of the total outstanding mutual fund units (“the one-third requirement”); and is made in consistency with the Notification of the Capital Market Supervisory Board No. ThorNor. 13/2562 Re: Criteria Relating to Restriction on Holding of Units in Mutual Funds and Duty of Management Companies (No. 6), dated 9 April 2019, as follows:
Old:
The Fund has the restriction on holding of mutual fund units that any person or group of persons cannot hold more than one-third of the total number of mutual fund units sold, unless such holding falls under the exemption according to the Notification of the SEC Office.
New:
The one-third requirement is relaxed for any person or group of persons holding more than one-third of the total outstanding mutual fund units for a period of not exceeding one year, unless additional relaxation is granted by the SEC Office. In this respect, the Fund must have the following characteristics:
(1) Holding more than one-third of the total outstanding mutual fund units by any person or group of persons shall not be for the purpose of seeking any other benefits more than the general benefits that should be received from investment, for instance, not having the intention to avoid paying taxes or not having the intention to dominate the investment management of the Management Company, etc.
(2) Has the proper procedures in place to ensure that the unitholders acknowledge the holding of more than one-third of the total outstanding mutual fund units which may have an impact on fund management or result in dissolution of the Fund.
The amendments to the mutual fund project mentioned above shall take effect from 23 Septermber 2019 onwards.
Should you have any queries or require any further information, please contact your account manager or our Client Service at 02-657-5757 press 2 or via email at krungsriasset.clientservice@krungsri.com.
Please be informed accordingly.