The Board of Directors of Evli Fund Management Company Ltd (hereinafter “Evli”) has decided to amend the rules of the non-UCITS Evli Leveraged Loan Fund (AIF) (hereinafter “Fund”). The amendments concern the name of the Fund and the Fund’s subscription and redemption frequency. The rule amendments, which are described in more detail below, will enter into force on July 1, 2024.
- The name of the Fund will change and the new name will be Evli Nordic Senior Secured Loan (AIF).
- After the amendments, subscriptions to the Fund will be possible on the last Finnish banking day of each calendar month that is a day when the Fund is open under its rules. Consequently, the net asset value of the Fund will also be calculated and published at least once a calendar month.
- Redemptions will be possible four times a year: on the last Finnish banking day (hereinafter “Redemption Date”) of March, June, September and December that according to the rules is a day on which the Fund is open.
- Redemption orders must be placed with the Fund Management Company no later than one (1) month before the Redemption Date. If a redemption order placed by an individual unit holder for a specific Redemption Date exceeds ten million (10,000,000) euros based on the Fund’s net asset value published on the most recent Valuation Day, the redemption order must be placed no later than three (3) calendar months before the Redemption Date.
- The Fund Management Company has the right to limit the aggregate number of redemptions for a single redemption date to a maximum of ten (10) percent of the latest published net asset value of the Fund, should the liquidity of the Fund require it. Redemptions are processed in the order in which they are received, and if a decision to limit redemptions is taken, the excess redemption orders are automatically carried over to the next Redemption Date for execution.
- The aim is to pay redemption proceeds, less any redemption fees, within two banking days after the Redemption Date, but no later than 30 days after the Redemption Date. This provision is due to the long settlement period for loan investments.
The rule amendments will apply to all the Fund’s unit series:
- Evli Leveraged Loan A, ISIN: FI4000507249
- Evli Leveraged Loan B, ISIN: FI4000507256
- Evli Leveraged Loan IB, ISIN: FI4000507264
- Evli Leveraged Loan B SEK, ISIN: FI4000511936
- Evli Leveraged Loan IB SEK, ISIN: FI4000527056
The Fund’s amended rules will apply to all unit holders and will not require any action by unit holders.
The updated rules will be available by May 31, 2024, at the address 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 email at info@evli.com from 9.30 am to 4.30 pm on weekdays (Finnish time, CET+1).
EVLI FUND MANAGEMENT COMPANY LTD