The Board of Directors of Evli Fund Management Company Ltd. (“Evli”) has decided to amend the rules of the UCITS funds and non-UCITS funds managed by Evli. The rule amendments apply to the UCITS funds and the open-end non-UCITS funds managed by Evli (excluding AJ Evli Value Hedge and closed-end alternative investment funds), as well as to the common rules of the UCITS funds. The amendments will enter into force on December 18, 2023.
The main amendments are as follows:
- The UCITS funds Evli Global Bond, Evli Optimal Allocation, Evli Equity, Zenito UK Value Fund and Zenito UK Silver and Gold, and the non-UCITS funds Evli Rental Income II and Evli Logistics Properties will now have fund units of
10 000 fractions (previously 100 000). This change harmonizes the rules of all UCITS and non-UCITS funds managed by Evli in this respect. - The rules for the UCITS funds Evli Global Bond, Evli Optimal Allocation and Evli Equity will consist of fund-specific rules and the common rules of all Evli mutual funds.
- Fixed income funds managed by Evli may in the future invest in derivatives contracts where the underlying assets is an interest rate or an agreement related to exchange of interest rate. The change applies to the following UCITS funds: Evli Global Bond, Evli Green Corporate Bond, Evli European High Yield, Evli European Investment Grade, Evli Emerging Markets Credit, Evli Euro Liquidity, Evli Short Corporate Bond, Evli Nordic 2025 Target Maturity, Evli Nordic Corporate Bond, Evli Target Maturity Nordic Bond 2023, Evli Euro Government Bond and Evli Corporate Bond.
- Semi-annual reviews will no longer be produced for the non-UCITS funds Evli Logistics Properties or Evli Rental Income II. The change has no impact on the funds’ other investor reporting.
- The NAV calculation date of the non-UCITS funds Evli Logistics Properties and Evli Rental Income II will be the last day (previously the last banking day) of March, June, September and December of each calendar year. Due to the change, the redemption and subscription date of the fund will be the last day of the calendar month (previously the last banking day) specified in the fund-specific rules.
- With the unit-holders’ consent, unit holders may in the future also be notified of rule amendments of the Evli Logistics Properties and Evli Rental Income II non-UCITS funds by e-mail. In the past, unit holders could be notified of rule amendments by mail or on the website.
- The long-term volatility target of the Evli Q7 non-UCITS fund will be increased to 10 percent and the fund’s investment ratio cannot exceed 200 percent.
- The non-UCITS fund Evli Leveraged Loan may invest up to 10 percent of its assets in units of other UCITS or alternative investment funds, provided that these target funds are allowed according to their rules to invest up to 10 percent in other funds. In addition, the fund may also invest in derivatives contracts where the underlying assets is an interest rate or an agreement related to exchange of interest rate.
- Other technical changes have also been made to the common rules of the UCITS funds and the fund-specific rules, such as changing the document name from key investor information document to the current key investor document.
The Financial Supervisory Authority confirmed the amendments to the fund rules on October 25, 2023. The amended fund rules will enter into force on December 18, 2023, and will apply to all unit holders. The amendments do not require any action from unit holders.
The updated rules of Evli’s funds will be available by November 17, 2023, on the webpage www.evli.com/fundrules or from our Investor Service. Our Investor Service will gladly answer any questions you may have regarding the amended rules and fund investment by telephone, +358 (0)9 4766 9701, or by e-mail at info@evli.com from 9.30 am to 4.30 pm on weekdays (Finnish time, CET+1).
EVLI FUND MANAGEMENT COMPANY LTD.
