FinEx Funds plc - FinEx... FinEx Funds plc (an umbrella fund with segregated liability between...

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Transcript of FinEx Funds plc - FinEx... FinEx Funds plc (an umbrella fund with segregated liability between...

  • FinEx Funds plc

    (an umbrella fund with segregated liability between sub-funds)

    A company incorporated with limited liability as an open-ended investment company with variable capital

    under the laws of Ireland with registered number 476934

    PROSPECTUS

    This Prospectus is dated 8 August 2018

    The Directors of FinEx Funds plc whose names appear in this Prospectus accept responsibility for the information contained in this Prospectus. To the best of the knowledge and belief of the Directors (who have taken all reasonable care to ensure such is the case) the information contained in this document is in accordance with the facts and does not omit anything likely to affect the import of such information. This Prospectus should be read in conjunction with the Supplements dealing with the relevant Fund(s).

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    1 Important Information

    THIS DOCUMENT IS IMPORTANT. BEFORE YOU PURCHASE ANY OF THE SHARES YOU SHOULD ENSURE THAT YOU FULLY UNDERSTAND THE NATURE OF SUCH AN INVESTMENT, THE RISKS INVOLVED AND YOUR OWN PERSONAL CIRCUMSTANCES. IF YOU ARE IN ANY DOUBT ABOUT THE CONTENTS OF THIS PROSPECTUS YOU SHOULD TAKE ADVICE FROM AN APPROPRIATELY QUALIFIED ADVISOR. Reliance on this Prospectus and KIID Access

    In deciding whether to invest in the Company, investors should rely on information in this Prospectus, the relevant KIID and the relevant Fund's most recent annual and/or semi-annual reports.

    Each Class that is available for subscription will have a KIID issued in accordance with the Central Bank Rules. Prospective investors should consider the KIID for the relevant Class prior to subscribing for Shares in that Class in order to assist them in making an informed investment decision. While some Classes are described in the Supplement for the relevant Fund as available, these Classes may not currently be offered for subscription and in the event that a KIID may not be available. Prospective investors should contact the Distributor directly to determine whether the relevant Class is available for subscription.

    Each Fund must calculate and disclose in the relevant KIID a Synthetic Risk and Reward Indicator ("SRRI") in accordance with the methodology prescribed in the European Securities and Markets Authority’s ("ESMA") Guidelines on the Methodology for the Calculation of the SRRI. The SRRI will correspond to a number designed to rank the relevant Fund over a scale from 1 to 7, according to its increasing level of volatility/risk-reward profile.

    Because the Prospectus and KIID may be updated from time to time, investors should make sure they have the most recent versions.

    Statements made in this Prospectus are based on the law and practice in force in the Republic of Ireland at the date of this Prospectus, which may be subject to change. This Prospectus will be updated to take into account material changes from time to time and any such amendments will be notified in advance to and cleared by the Central Bank.

    Authorisation

    The authorisation of FinEx Funds plc (the "Company") by the Central Bank of Ireland (the "Central Bank") shall not constitute a warranty as to the performance of the Company and the Central Bank shall not be liable for the performance or default of the Company.

    The value of and income from Shares in the Company may go up or down and you may not get back the amount you have invested in the Company.

    Information applicable to the Company generally is contained in this Prospectus. Shares constituting each Fund offered by the Company are described in the Supplements to this Prospectus.

    The Company is an umbrella investment company with segregated liability between sub-funds (hereinafter referred to as "Funds") and with variable capital incorporated on 29 October 2009 and is authorised in Ireland as an undertaking for collective investment in transferable securities pursuant to the Regulations. Such authorisation is not an endorsement or guarantee of the

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    Company or any Fund by the Central Bank, nor is the Central Bank responsible for the contents of this Prospectus.

    General

    The Company is structured as an umbrella investment company, in that different Funds may be established from time to time by the Directors with the prior approval of the Central Bank.

    The particulars of each Fund will be set out in a separate Supplement. Any such Supplement shall list all of the existing Funds. Shares of more than one Class may be issued in relation to a Fund. Information contained within the Supplements is selective and should be read in conjunction with this Prospectus. The creation of any new Classes of Shares must be notified to and cleared in advance by the Central Bank. On the introduction of any new Class of Shares, the Company will prepare and the Directors will issue documentation setting out the relevant details of each such Class of Shares. A separate portfolio of assets shall be maintained for each Fund and shall be invested in accordance with the investment objective applicable to such Fund.

    Shares in any of the Funds may be subscribed for or redeemed in cash or on an in-specie (in- kind) basis. Shares may also be bought or sold on the secondary market (as described below).

    The Company may decline any application for Shares in whole or in part without assigning any reason therefore and will not accept an initial subscription for Shares of any amount which is less than the Minimum Subscription Amount as set forth in the Supplement for the relevant Fund, unless the Minimum Subscription Amount is waived by the Directors.

    After the initial issue, Shares will be issued and redeemed at the Net Asset Value per Share plus or minus duties and charges (as the case may be) including any Subscription Charge, Redemption Charge or Exchange Charge and any Anti-Dilution Levy specified in the relevant Supplement. The Net Asset Value of the Shares of each Class and the Issue and Repurchase Prices will be calculated in accordance with the provisions summarised under the heading "Issue and Repurchase Prices/Calculation of Net Asset Value/Valuation of Assets" in this Prospectus.

    The Shares of each Fund may be listed on one or more Relevant Stock Exchanges and if so listed shall be fully transferable by Shareholders. It is envisaged that Shares will be bought and sold by retail and institutional investors and professional traders in the secondary market like the ordinary shares of a listed company. However, the Company cannot guarantee that a liquid secondary market will develop in relation to the Shares of any particular Fund.

    Where the value of the Shares quoted on the secondary market significantly differs or varies from the current Net Asset Value per Share, investors who hold their shares through a secondary market will be permitted, subject to their liaising with the Administrator and complying with any necessary anti-money laundering checks requested by the Administrator, to redeem their shareholding directly from the Company. For example, this may apply in cases of market disruption such as the absence of a market maker. In such situations, information will be communicated to the regulated market indicating that the Company is open for direct redemptions from the Company. Such secondary market investors should refer to section 8 of the Prospectus for details on how to process such redemption requests. Only the actual costs of providing this facility (i.e those costs associated with liquidating any underlying positions) will be charged to such secondary market investors and in any event, the fees in respect of any such redemptions shall not be excessive.

    Details of Dealing Days in respect of each Fund are set out in the relevant Supplement.

    A Redemption Charge of up to 3% of the Net Asset Value per Share of a Fund may be charged by the Company. The amount of Redemption Charge (if any) will be set out in the relevant Supplement.

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    The amount of Exchange Charge (if any) will be set out in the relevant Supplement.

    Before investing in the Company, you should consider the risks involved in such investment. Please see "Risk Factors" below and where applicable to each Fund in the relevant Supplement.

    The Company is considered to be a non-complex UCITS within the meaning of Article 25(4) of Directive 2014/65/EU.

    Distribution of this Prospectus is not authorised in any jurisdiction unless it is accompanied by a copy of the then latest annual report and audited accounts of the Company and, if published after such report, a copy of the then latest semi-annual report and unaudited accounts. Such reports and this Prospectus together form the prospectus for the issue of Shares in the Company.

    Neither the admission of Shares of a Fund to listing on the Official List and trading on the Main Securities Market of the Irish Stock Exchange nor the approval of the Prospectus pursuant to the listing requirements of the Irish Stock Exchange shall constitute a warranty or representation by the Irish Stock Exchange as to the competence of service providers to or any other party connected with a Fund, the adequacy of information contained in the Prospectus or the suitability of a Fund for investment purposes.

    All Shareholders are entitled to the benefit of, are bound by and are deemed to have notice of, the provisions of the Articles, copies of which are available upon request.

    Defined terms used in this Prospectus shall have the meaning attributed to them in Appendix I.

    Selling Restrictions

    This Prospectus m