TIDMXG7S
The following amendment should be made to the db x-trackers II
Important Notice to Shareholders announcement released at 18:30 GMT
on 9 January 2017.
The date on the document has been changed from 13 January 2017
to 11 January 2017.
All other details remain unchanged.
The full corrected version is shown below.
db x-trackers II
Investment Company with Variable Capital
Registered office: 49, avenue J.F. Kennedy, L-1855
Luxembourg
R.C.S. Luxembourg B-124.284
(the "Company")
IMPORTANT NOTICE TO THE SHAREHOLDERS OF
db x-trackers II IBOXX GLOBAL INFLATION-LINKED UCITS ETF
db x-trackers II GLOBAL SOVEREIGN UCITS ETF
(collectively referred to as the "Sub-Funds" and individually a
"Sub-Fund")
11 January 2017
The board of directors of the Company (the "Board of Directors")
hereby informs the shareholders of the Sub-Funds (the
"Shareholders") that it has resolved to make certain changes to the
Sub-Funds, as detailed below under A) OVERVIEW OF THE CHANGES (such
changes in relation to each Sub-Fund collectively referred to as
the "Changes").
The Changes in relation to each Sub-Fund will be carried out on
a date between 14 February 2017 and 15 August 2017 (each an
"Effective Date"). Once the Changes in relation to a Sub-Fund have
been implemented, a notice will be published on the website of the
Company, http://www.etf.deutscheam.com (the "Company's Website"),
confirming the relevant Effective Date.
Capitalised terms not defined herein shall have the meaning
given to them in the prospectus of the Company (the
"Prospectus").
A) OVERVIEW OF THE CHANGES
1) Switch of Investment Policy
The Board of Directors has resolved to switch the investment
policy of each of the Sub-Funds from their current Indirect
Investment Policy to a Direct Investment Policy with Optimised
Index Replication (the "DRSwitches").
Currently each Sub-Fund is exposed to the performance of its
relevant Current Reference Index (as defined under 3) below) by way
of derivative transactions such as individually negotiated (OTC)
swap transactions. Once the DR Switches are effective, each of the
Sub-Funds will carry out their respective investment objective by
directly buying a portfolio of debt securities that may comprise
the constituents of its relevant New Reference Index (as defined
under 3) below), or unrelated transferable securities or other
eligible assets, as determined by the Investment Manager and
Sub-Portfolio Manager.
Shareholders' attention is specifically drawn to:
-- the "Investment Objectives and Policies" and "Risk
Factors" sections (including "Risks in relation to
the tracking of indices", "Taxes on transactions
(financial transaction tax)" and "Securities lending,
sale with right of repurchase transactions and repurchase and
reverse
repurchase agreement transactions") of the main part of the
Prospectus as well as to the relevant Sub-Fund's Product
Annex;
-- the fact that, depending on market conditions, for a short period of
time (the "Switch Period"), the portfolio of a Sub-Fund
may be partially exposed to swap transactions as well as
direct
investments in fixed income securities relating to the
Reference
Index. The Investment Manager and the Sub-Portfolio Manager will
seek
to minimise the duration of the Switch Period whilst taking
into
account prevailing market conditions and acting in the best
interests
of investors;
-- the fact that, following the DR Switches, the Sub-Funds may enter into
securities lending transactions as more fully described in
the
Prospectus. In this context, investors' attention is drawn to
the fact
that in cases where cash collateral is permitted and accepted,
it may
be reinvested subject to the Investment Restrictions;
-- the fact that, following the DR Switches, in relation to subscriptions
or redemptions on the primary market in respect of the
Sub-Funds, the
Minimum Initial Subscription Amount, the Minimum Subsequent
Subscription Amount and the Minimum Redemption Amount (when
applicable) may be changed or may be introduced (such terms
defined in
and as more fully described in the Prospectus and the
relevant
Sub-Fund's Product Annex);
-- the fact that, following the DR Switches, in relation to subscriptions
or redemptions on the primary market in respect of the
Sub-Funds, the
applicable Significant Market will change from Indirect
Replication
Significant Market to Direct Replication Significant Market;
and
-- the fact that, following the DR Switches, Transaction Costs, including
any taxes, may be incurred by the Sub-Funds and Primary
Market
Transaction Costs may be charged to Authorised Participants.
2) Change of Investment Manager
The Board of Directors has resolved to change the Investment
Manager of each of the Sub-Funds (the "IM Change"). Currently,
State Street Global Advisors Limited ("SSgA") acts as Investment
Manager of the Sub-Funds. SSgA shall be replaced by Deutsche Asset
Management Investment GmbH ("DeAM GmbH") as the Investment Manager
of the Sub-Funds.
DeAM GmbH, was established in the Federal Republic of Germany as
a private limited liability company (Gesellschaft mit beschränkter
Haftung), having its registered office at Mainzer Landstraße 11-17,
D-60329 Frankfurt am Main, Germany and is authorized and regulated
by the Federal Financial Supervisory Authority in Germany
(Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin). It is
registered with the commercial register of the local court of
Frankfurt am Main under number HRB 9135.
DeAM GmbH will sub-delegate certain of its portfolio management
functions to Deutsche Asset Management (UK) Limited ("DeAM (UK)")
under the terms of a Sub-Portfolio Management Agreement as more
fully described in the Prospectus. DeAM (UK) is a limited liability
company incorporated on 16 September 2004 under the laws of England
and Wales, having its registered office at Winchester House, 1
Great Winchester Street, London, EC2N 2DB, United Kingdom and is
authorised and regulated by the Financial Conduct Authority in the
conduct of its designated investment business (as defined in the
FCA Handbook).
Investors should note that both on and after the respective
Effective Date, SSgA shall continue to carry out certain functions
for the relevant Sub-Fund in order to facilitate the IM Change.
Such functions would, for example, include the oversight of
settlement of trades initiated before the Effective Date.
The IM Change has been decided in order to optimise and
rationalise the portfolio management set-up of the Sub-Funds.
3) Change of Reference Indices
The Board of Directors has resolved to change the investment
objective of each of the Sub-Funds as follows (in relation to each
Sub-Fund, the "IO Change").
a) db x-trackers II IBOXX GLOBAL INFLATION-LINKED UCITS ETF
Currently, the investment objective of this Sub-Fund is to
reflect the performance of the IBOXX GLOBAL INFLATION-LINKED TOTAL
RETURN INDEX HEDGED® (for the purpose of this section a), the
"Current Reference Index") and the investment objective of each of
the share classes of this Sub-Fund is to reflect the performance of
(i) the Current Reference Index; (ii) the unhedged version of the
Current Reference Index; or (iii) a currency index linked to the
unhedged version of the Current Reference Index and hedged into the
Denomination Currency of the relevant share class.
Once the IO Change is effective, the investment objective of
this Sub-Fund will be to reflect the performance of the Bloomberg
Barclays World Government Inflation-Linked Bond Index (for the
purpose of this section a), the "New Reference Index") and the
investment objective of each of the share classes of this Sub-Fund
will be to reflect the performance of (i) the New Reference Index;
or (ii) a currency index linked to the New Reference Index and
hedged into the Denomination Currency of the relevant share
class.
Similar to the Current Reference Index, the New Reference Index
is designed to reflect the performance of inflation-linked bonds
issued by governments in developed markets. A relevant difference
between the Current Reference Index and the New Reference Index is
that the New Reference Index does not included quasi-sovereign
inflation-linked bonds.
b) db x-trackers II GLOBAL SOVEREIGN UCITS ETF
Currently, the investment objective of this Sub-Fund is to
reflect the performance of the DEUTSCHE BANK Global Investment
Grade Government Index® (for the purpose of this section c), the
"Current Reference Index") and the investment objective of each of
the share classes of this Sub-Fund is to reflect the performance of
(i) the Current Reference Index; or (ii) a currency index linked to
the Current Reference Index and hedged into the Denomination
Currency of the relevant share class.
Once the IO Change is effective, the investment objective of
this Sub-Fund will be to reflect the performance of the Citi World
Government Bond Index - Developed Markets (for the purpose of this
section c), the "New Reference Index") and the investment objective
of each of the share classes of this Sub-Fund will be to reflect
the performance of (i) the New Reference Index; or (ii) a currency
index linked to the New Refererence Index and hedged into the
Denomination Currency of the relevant share class.
Similar to the Current Reference Index, the New Reference Index
is designed to reflect the performance of fixed-rate, local
currency, investment-grade sovereign bonds issued in developed
markets. The New Reference Index is part of the Citi WGBI Index
family, which is one of the most widely known fixed income index
families in the global government bond universe.
4) Change of Names
The Board of Directors has resolved to change the names of the
Sub-Funds as detailed in the annex to this document as from the
relevant Effective Date.
5) Reduction of Management Company Fee (for certain share
classes only)
a) db x-trackers II IBOXX GLOBAL INFLATION-LINKED UCITS ETF 5C
(LU0908508814)
The Board of Directors has resolved to reduce the Management
Company Fee for share class 5C (LU0908508814) of db x-trackers II
IBOXX GLOBAL INFLATION-LINKED UCITS ETF with effect from the
relevant Effective Date from "up to 0.15% p.a." to "up to 0.10%
p.a.". As a result, the All-In Fee applicable to this share class
will be reduced from "up to 0.25% p.a." to "up to 0.20% p.a.".
b) db x-trackers II GLOBAL SOVEREIGN UCITS ETF 5C
(LU0908508731)
The Board of Directors has resolved to reduce the Management
Company Fee for share class 5C (LU0908508731) of db x-trackers II
GLOBAL SOVEREIGN UCITS ETF with effect from the relevant Effective
Date from "up to 0.15% p.a." to "up to 0.10% p.a.". As a result,
the All-In Fee applicable to this share class will be reduced from
"up to 0.25% p.a." to "up to 0.20% p.a.".
B) GENERAL INFORMATION
Any costs or expenses associated with the implementation of the
Changes, will not be borne by the Sub-Funds or their
Shareholders.
Shareholders who subscribe or redeem Shares in the Sub-Funds on
the primary market and who do not agree with the Changes that are
applicable to the Sub-Funds in which they hold such Shares, are
entitled to redeem their Shares in the applicable Sub-Fund(s) in
accordance with the Prospectus. Such redemptions shall be free of
any Redemption Charge from the date of this notice until 5:00 p.m.
(Luxembourg time) on 13 February 2017. Please note that the Company
does not charge any redemption fee for the sale of Shares in the
secondary market. Orders to sell Shares through a stock exchange
can be placed via an authorised intermediary or stockbroker.
Shareholders should note that orders in the secondary market may
incur costs over which the Company has no control and to which the
above exemption of Redemption Charge does not apply.
Further information regarding the Changes, including more
detailed information regarding the Direct Investment Policy, the
new Investment Manager and Sub-Portfolio Manager and the New
Reference Index in relation to each of the Sub-Funds, will be
contained in the revised Prospectus, which will be available on the
Company's Website on or around the date of this document, and a
copy of which may be obtained free of charge at the Company's
registered office or at the foreign representatives' offices.
The updated key investor information document for each Sub-Fund
will be available on the Company's Website on or around the
relevant Effective Date, and a copy of which may be obtained free
of charge at the Company's registered office or at the foreign
representatives' offices. Neither the contents of the Company's
website nor the contents of any other website accessible from
hyperlinks on the Company's website is incorporated into, or forms
part of, this announcement.
If you have any queries or if any of the above is not clear, you
should seek advice from your stockbroker, bank manager, legal
adviser, accountant or other independent financial advisor. All
shareholders are strongly advised to consult their tax advisor to
assess (1) the impact of the Changes and any potential tax
consequences thereof and (2) any potential changes between the
current and / or future taxation of their investment under the laws
of the countries of their nationality, residence, domicile or
incorporation.
Further information in relation to the Changes may also be
obtained from the legal entities mentioned under 'Contact
information' below, the offices of foreign representatives or by
sending an email to info.dbx-trackers@db.com.
db x-trackers II
The board of directors
C) CONTACT INFORMATION
db x-trackers II
49, avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of
Luxembourg
Deutsche Asset Management S.A.
2, boulevard Konrad Adenauer, L-1115 Luxembourg, Grand Duchy of
Luxembourg
Annex - Summary of changes
Current name Switch of Investment Policy Change of Investment Manager New name Share class / ISIN Fee changes New Reference Index
(All-In Fee)
db x-trackers II IBOXX GLOBAL INFLATION-LINKED UCITS ETF From Indirect Investment Policy to Direct Investment Policy (Optimised Index Replication) From SSgA to DeAM GmbH (Sub-Portfolio Management delegated to DeAM (UK)) db x-trackers II GLOBAL INFLATION-LINKED BOND UCITS ETF (DR) Share class 2C (LU0641007009) None Bloomberg Barclays World Government Inflation-Linked Bond Index, USD hedged
Share class 3D (LU0641007264) None Bloomberg Barclays World Government Inflation-Linked Bond Index, GBP hedged
Share class 5C (LU0908508814) From "up to 0.25 % p.a." to "up to 0.20 % p.a." Bloomberg Barclays World Government Inflation-Linked Bond Index
db x-trackers II GLOBAL SOVEREIGN UCITS ETF From Indirect Investment Policy to Direct Investment Policy (Optimised Index Replication) From SSgA to DeAM GmbH (Sub-Portfolio Management delegated to DeAM (UK)) db x-trackers II GLOBAL GOVERNMENT BOND UCITS ETF (DR) Share class 2D (LU0641006290) None Citi World Government Bond Index - Developed Markets, Currency-Hedged in GBP terms
Share class 5C (LU0908508731) From "up to 0.25 % p.a." to "up to 0.20 % p.a." Citi World Government Bond Index - Developed Markets
View source version on businesswire.com:
http://www.businesswire.com/news/home/20170111005917/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
January 11, 2017 12:31 ET (17:31 GMT)
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