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  • Important: Proposed Merger of Artemis Global Equity Income Fund into Artemis Global Income Fund
  1. We have undertaken an assessment on the ongoing viability of the Current Fund (Artemis Global Equity Income Fund). Having considered a number of options, we have concluded that a merger of the Current Fund with the Receiving Fund (Artemis Global Income Fund) is in the best interests of investors.

Current Fund

Fund Code

ISIN

Artemis Global Equity Income Fund Class 'I' Accumulation

GEA

GB00BW9HLK22

Artemis Global Equity Income Fund Class 'I' Distribution

GED

GB00BW9HLL39

 

 

Receiving Fund Name

Fund Code

ISIN

Merger Ratio

Artemis Global Income Fund Class 'I' Accumulation Units

GAI

GB00B5ZX1M70

0.91633981

Artemis Global Income Fund Class 'I' Distribution Units

GII

GB00B5N99561

1.11542201

  • What is changing?
    1. If it is approved by shareholders, we propose to transfer the assets of the Current Fund into the Receiving Fund by a process called a Scheme of Arrangement (the “Merger”). New units in the Receiving Fund will then be issued to you in exchange for your existing shares in the Current Fund.
    2. Following this, the Current Fund will be closed.
  • When will the changes take place?
    1. In order for the Merger to proceed, at least 75% of votes cast at an Extraordinary General Meeting of shareholders (“EGM”) on 25 June 2020 at 10.00am (UK time) must be in favour of the transfer. Update  - This was passed at the EGM on the 25th June.
    2. The meeting will be held virtually through the BlueJeans video conferencing platform (the ‘Online Platform’) or such other place as confirmed by the ACD. For further information about joining the meeting, the software needed and the pre-authentication process, please contact legal@artemisfunds.com. A guide on how to use the Online Platform is available at www.artemisfunds.com/fund-changes.
    3. Investors can vote for or against this proposal, either in person by virtual attendance at the EGM or by returning a digitally signed or scanned copy of the completed Voting Form by email to legal@artemisfunds.com, to be received by us by 10.00am (UK time) on 23 June 2020.
    4. If the Merger is approved at the EGM, the Merger will take place on 10 July 2020 (the “Effective Date”).
    5. The results of the EGM will be published on our website www.artemisfunds.com/fund-changes by 5.00pm (UK time) on 26 June 2020. 
    6.  
  • How will you be impacted by these changes?
    1. If it is approved, the Merger will bind all investors in the Current Fund on 9 July 2020 whether or not they voted in favour of it, or voted at all. If the Merger is not approved, the Current Fund will continue in its existing form and Artemis will review its options in relation to the Current Fund.
    2. The Current Fund was established as a mirror of the Receiving Fund with the same investment objective, policy and strategy. Both funds are managed by the same team of fund managers. The two funds hold the same portfolio of investments. It is felt that the Receiving Fund is a suitable alternative fund for investors in the Current Fund who wish to maintain their exposure to the strategy.
    3. A comparison of the features of the Current Fund and Receiving Fund is set out in Part C, including their objectives and policies and operating costs.
  • What options are available to you?
    1. Our priority is to minimise any disruption to you and provide ongoing certainty and continuity. We believe that approving the proposed Merger would be in your best interests.
    2. If the Merger is approved and you wish to redeem your existing shares in the Current Fund (“Existing Shares”) or switch your holding before the Merger takes place, we must receive your instructions before 12.00 noon (UK time) on 9 July 2020. If you send a request after this time, we will treat this as applying to your new units issued under the Merger and it will be processed on the next dealing day in the Receiving Fund after the Effective Date. The first dealing day in the Receiving Fund following the Effective Date is expected to be 13 July 2020. If you wish to redeem or switch your Existing Shares prior to the Merger, please contact us using the details below.
  • Please note that a redemption or switch will be treated as a disposal of your Existing Shares for tax purposes and you may be liable to capital gains tax on any gains arising from the redemption or switch of your Existing Shares.
  • What are the tax implications of the proposed change?
    1. The tax implications of the proposed Merger are described in Part B of the Circular.
  • If you are in any doubt about your potential liability to tax, you should consult a professional adviser. Please note that Artemis will not be responsible for or pay any investor’s personal tax liability arising from the Mergers.
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Due to an internal conversion project Calastone will be unavailable for dealing into our R and A share classes from 12.00 on Thursday 9th July until 09:00 on Friday 10th July. During this time any deals can either be held or submitted manually. Dealing will reopen at 09.00 on Friday 10th July and any deals previously held will be placed before the 12:00 dealing cut off and will achieve the same valuation point as if they would have received if they had been placed at the original date of receipt, i.e. the 08:00 VP on Monday 13th July.  

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Further to the recent mailing to notify shareholders of the above fund of the upcoming conversion, unitholders in the C Inc shareclass will be converted into the I Inc shareclass of the same fund effective on 03/07/2020

Please contact the SS&C Distributor Client Services Team if you have any queries, our contact details can be found by clicking here.

Donor share class

Donor ISIN

Host share class

Host ISIN

Allianz Gilt Yield Fund C Class Inc

GB0031383283

Allianz Gilt Yield Fund I Class Inc

GB0031383390

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Reminder: On 22nd June 2020, SS&C will be upgrading our AWD system to version 10.9. This upgrade will be completed using RBS Collective Investment Funds Ltd as the first Asset Manager being moved onto the new version.

 

In preparation of the release, the RBS fax number was changed on 25 May 2020 and communications were originally sent out to confirm this. A further communication will also be sent out on 19 June.

 

As a reminder, please continue to use this new fax number 0330 123 3755.

 

Please Note: Any faxes sent to the old number will only be accepted as part of a ‘two week’ grace period ending 03/07/2020. After this point any faxes sent to the old number will be automatically rejected.

 

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