SIGNIFICANT EVENT NOTICE

High Conviction Fund Wholesale - Product Update

We’re making some changes to the High Conviction Fund as part of our ongoing commitment to product innovation. The details of these changes can be found below. You don’t need to take any action, and if you have any questions, please contact us.

Unit price adjustment 

The High Conviction Fund will have the added benefit of being accessible as an active exchange traded fund (ETF) in the first quarter of 2022. This means investors will be able to buy or sell their investment in this fund through their chosen broker. In preparation for this exciting product enhancement, we need to make an adjustment to the unit price of this fund.

What does this adjustment mean? 

On 22 December the unit price for the High Conviction Fund will increase by a factor of 10. For example, if the unit price is $1 at the end of day on 21 December, it will be $10 at the start of day on 22 December. As a result, the number of units you hold will decrease by a factor of 10. For example, if you hold 100 units on 21 December you will hold 10 units on 22 December.

The table below is an example of how these changes will impact your unit balance (this is for illustrative purposes only and does not reflect your actual account balance):

How will It impact my investment?

The total value of your investment won’t change. Since the value of your investment is calculated by multiplying the unit price by the number of units you hold (your unit balance), you’ll still have the same dollar value invested before the unit price adjustment as you will after.

There is nothing you need to do. We’ll send you a transaction statement within 2 days of the adjustment taking place. This will show your existing unit balance as a negative transaction and your new unit balance as a positive transaction. The transaction type will be displayed as a ‘consolidation’. If you want to review your investments, you can do this anytime by logging on to InvestorServe.

Why are we making this change?

Increasing the unit price by a factor of 10 will help to minimise any additional costs associated with the listed component of the Fund and ensures your total investment value isn’t reduced.