Dear client
We have been notified that Valutrac are looking to simplify the available share classes, they are closing the Class B shares in each Fund (for which the variable element of the annual management fee is 0.50% per annum) and will mandatorily convert all shareholders who currently hold such share class to Class A shares in the same Fund (for which the variable element of the annual management fee is 0.25% per annum).
If you currently hold income shares in a Fund you will be converted to the corresponding Class A income class and if you hold accumulation shares you will be converted to the Class A accumulation class. This change will take effect from 7th March 2025. For completeness, details of the share classes impacted, and the share class into which each will convert, are set out in the Appendix.
Kind regards
Corporate Action Team
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