Notification of changes to the underlying funds of various First State funds
15 May 2020
- R30 First State Asian Equity Plus
- R31 First State Greater China Growth
- R51 First State China Growth
We have been notified by First State Global Umbrella Fund plc (the “Company”) of the extraordinary general meeting (the “EGM”) which is to be held on 2 June 2020. The resolution proposed at the EGM relates to the name change of the Company of the underlying funds into which the above named mirror funds invest. Should this resolution be passed, the Company name change will be effective on or around the 22 September 2020 (the “Effective Date”). The names of the underlying funds will change in line with the Company name change.
Please see the table below for more details.
|
|
Before the Effective Date |
With effect from the Effective Date |
|
Underlying Company Name |
First State Global Umbrella Fund |
First Sentier Investors Global Umbrella Fund |
|
Mirror fund Name |
R30 First State Asian Equity Plus |
R30 First Sentier Asian Equity Plus |
|
Mirror fund Name |
R31 First State Greater China Growth |
R31 First Sentier Greater China Growth |
|
Mirror fund Name |
R51 First State China Growth |
R51 First Sentier China Growth |
Please see the below extract for the rationale behind this change, taken from the Shareholder Circular of the underlying funds of the mirror funds.
“The Name Change follows last year’s change of ownership of First State Investments from the Commonwealth Bank of Australia to Mitsubishi UFJ Trust and Banking Corporation, a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc.. This change also reflects the investment manager’s intention to progress towards adopting a single global brand name in all markets. The name First Sentier Investors was chosen as it reflects the heritage and ongoing purpose of the investment manager, which the Company shares. The word ‘First’ allows us to keep a reference to our strong and successful heritage, while the word ‘Sentier’ means path which reflects our commitment to investing responsibly over the long term for the benefit of our clients and the communities in which we invest. First Sentier Investors continues to offer a comprehensive suite of active long-term investment capabilities across global and regional equities, cash and fixed income, infrastructure, and multi-asset solutions, all with a shared purpose to deliver sustainable investment success.”
Please be advised that the above changes will only be effective should the resolutions at the EGM have been passed. We will contact affected policyholders only if the resolutions have not been passed.
Should you have any questions regarding these changes, please contact International Funds & Investments.