Amendments to the rules of funds managed by Evli Fund Management Company

Evli Hannibal: 
 

• The rules of the fund (ISIN: FI0008811971) will be harmonized with those of other funds managed by Evli, so that the fund’s rules will consist of fund-specific rules and the common rules for all funds managed by Evli. 
   
• The fund will be open for redemptions and subscriptions on each Finnish banking day that is a day when the fund is open under its rules. 
   
• The fund will be a fund in accordance with Article 8 of the Sustainable Finance Disclosure Regulation (SFDR), which means it promotes, in addition to other characteristics, environmental and social characteristics. 
   
• The performance-based management fee model will change. According to the new model, the value of the fund unit series must exceed its highest historical value and the return of the fund unit series must exceed the hurdle rate mentioned in the fund prospectus or the benchmark index return over the last 24 months. If both conditions mentioned above are met, the following return figure will be calculated: the return between the value of the fund unit series on the valuation date and the historical highest value. The maximum amount of the performance-based fee of the above-mentioned return figure is stated in the fund’s rules. More information on the performance-based fee and examples of its application will be available in the fund prospectus when the rule amendment described above enters into force. 
   

Zenito UK Value Fund:
 

• The name of the fund will be changed to Evli UK Value Fund.
   
• The rules of the fund will be harmonized with those of other funds managed by Evli, so that the fund’s rules will consist of fund-specific rules and the common rules for all funds managed by Evli.
   
• The fund will be a fund in accordance with Article 8 of the Sustainable Finance Disclosure Regulation (SFDR), which means it promotes, in addition to other characteristics, environmental and social characteristics. 
   
• The performance-based management fee model will change in the same way as described above for the Evli Hannibal fund. 
   
• The following amendments will be made to the fund’s unit series and the benchmark index: 
  • The return of the FTSE All-Share Index will be used as the benchmark for calculating the fund’s performance-based fee, although the fund has not had an official benchmark return index. The FTSE All-Share Index will continue to be the fund’s official benchmark index for return, which will be reflected in the fund’s monthly reviews, for example.
  • The fund’s A unit series (ISIN: FI4000496724) will be renamed the B unit series and the minimum subscription amount will be changed to EUR 1,000.00 (previously EUR 100.00). The annual fixed management fee 1.50% and the performance-based fee 15.00% for the unit series will remain unchanged.
  • The current B unit series (ISIN: FI4000496732) will be merged into the C unit series (ISIN: FI4000496740), which will be renamed the IB unit series. The annual fixed management fee 0.80%, the performance-based fee 8.00% and the minimum subscription amount EUR 3,000,000.00 for the unit series will remain unchanged.
     

Evli Silver and Gold:
 

• The calculation of the fund’s performance-based management fee will be changed in the same way as described above for the Evli Hannibal and Zenito UK Value funds.
   
• The following amendments will be made to the fund's unit series and the benchmark index used to calculate the performance-based fee: 
  • The fund’s A unit series (ISIN: FI4000188974) will be merged into the existing B unit series (ISIN: FI4000188982) and the minimum subscription amount for the series will be changed to EUR 1,000.00 (previously EUR 100,000.00). Existing A unit series holders will benefit from the lower pricing of the B unit series. The B unit series’ annual fixed management fee 1.00% and the performance-based fee 10.00% will remain unchanged.
  • The fund’s C unit series (ISIN: FI4000188990) will be renamed the IB unit series. The unit series’ annual fixed management fee 0.80%, the performance-based fee 8.00% and the minimum subscription amount EUR 3,000,000.00 will remain unchanged.
  • The composite index used to calculate the fund’s performance-based fee will be 50% MSCI ACWI Metals and Mining Index and 50% NYSE Arca Gold Miners Index. The latter will replace the FTSE Gold Mines Index that is currently used.
     

The amendments to the rules and unit series apply to all unit holders. The amendments do not require any action from unit holders. 

The updated rules of the funds will be available by August 29, 2024, at the address www.evli.com/fundrules and 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