Changes to the underlying fund of R86 Amundi Volatility World

24 April 2020

We have been notified by Amundi Asset Management (the “Company”) of the following temporary arrangements to the price adjustment policy of the underlying fund of the above named mirror fund. This change has taken effect from 16th April 2020 (the “Effective Date”).

The Company have confirmed the following:

“In accordance with the prospectus, when it believes that trading in a sub-fund's shares will require significant purchases or sales of portfolio investments, the Board may adjust the sub-fund's NAV to more closely reflect the actual prices of the underlying transactions, based on estimated dealing spreads, costs, and other market and trading considerations. In general, the NAV will be adjusted upward when there is strong demand to buy sub-fund shares and downward when there is strong demand to redeem sub-fund shares. Under normal conditions, the adjustment would normally not be larger than 2% of NAV.

Due to the unusual and exceptional market conditions, the Board has decided, as permitted by the prospectus, to raise exceptionally this limit of the adjustment of the NAV for all share classes up to 5% (the “New Adjustment Limit”) on a temporary basis, i.e. until 30 June 2020 (the “Considering Period”).

Please carefully note that the New Adjustment Limit is expressed as a maximum and each sub-fund may apply a limit of adjustment, which may be lower. Regular analysis will be conducted in order to determine the appropriate limit of adjustment to be applied for each sub-fund.”

 

Should you have any questions regarding these changes, please contact International Funds & Investments.