Temporary suspension of subscriptions to the underlying fund of L51 Value Partners Greater China High Yield Income

29 April 2016

We have been informed by Value Partners Hong Kong Limited that the underlying fund into which L51 Value Partners Greater China High Yield Income invests has been temporarily suspended to further subscriptions, which was effective from 13 April 2016.  As a result L51 Value Partners Greater China High Yield Income is also temporarily suspended to further subscriptions.

The underlying fund had recently found that it had issued share capital more than the authorised amount, and will suspend subscriptions until the rectification process completes, upon which further notice will be given.

There is no impact on the underlying fund’s assets or redemptions. The investment strategy and operation of the underlying fund will remain unchanged.

During the suspension period instructions to invest into L51 Value Partners Greater China High Yield Income will not be accepted, and an alternative instruction will be requested. 

Any existing instruction for a regular investment into L51 Value Partners Greater China High Yield Income that you may have will be directed to the Default Replacement Fund J27 Baring High Yield Bond. From this point all such regular investments will continue to be directed to and will remain in the Default Replacement Fund, unless we receive an instruction to the switch back into L51 Value Partners Greater China High Yield Income, once the suspension has been lifted, or an alternative is selected from our fund range.

For further details, please refer to the client letter.

Please note there are no other changes to the underlying fund or L51 Value Partners Greater China High Yield Income.

Should you have any questions regarding this update, please contact International Funds & Investments.