Definitive Materials Filed by Investment Companies. (497)
10 1월 2013 - 6:44AM
Edgar (US Regulatory)
THE ADVISORS' INNER CIRCLE FUND
Cornerstone Advisors Global Public Equity Fund
Cornerstone Advisors Income Opportunities Fund
Cornerstone Advisors Public Alternatives Fund
Cornerstone Advisors Real Assets Fund
Supplement dated January 9, 2013
to the Statement of Additional Information ("SAI") dated August 30, 2012
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN
THE SAI AND SHOULD BE READ IN CONJUNCTION WITH THE SAI.
Under the heading "Derivatives," in the section titled "Description of Permitted
Investments," the following text is hereby added following the second paragraph:
As a result of recent amendments to rules under the Commodity Exchange Act
("CEA") by the Commodity Futures Trading Commission ("CFTC"), a Fund must either
operate within certain guidelines and restrictions with respect to the Fund's
use of futures, options on such futures, commodity options and certain swaps, or
the Adviser will be subject to registration with the CFTC as a "commodity pool
operator" ("CPO").
Consistent with the CFTC's new regulations, the Trust, on behalf of the
Cornerstone Advisors Global Public Equity Fund, has claimed an exclusion from
the definition of the term CPO under the CEA and, therefore, the Cornerstone
Advisors Global Public Equity Fund is not subject to registration or regulation
as a CPO under the CEA. As a result, the Cornerstone Advisors Global Public
Equity Fund will operate within certain guidelines and restrictions with respect
to its use of futures, options on such futures, commodity options and certain
swaps.
The CFTC has also issued a limited extension to operators of funds of funds from
the obligation to register as a CPO until the later of June 30, 2013, or six
months after the effective date (or compliance date, if later) of the CFTC's
issuance of revised guidance regarding the application of the CFTC de minimis
thresholds to funds of funds. The Adviser has filed with the CFTC to avail
itself of this extension from the CPO registration requirements with respect to
the Cornerstone Advisors Income Opportunities Fund, the Cornerstone Advisors
Public Alternatives Fund and the Cornerstone Advisors Real Assets Fund, and,
therefore, neither these Funds nor the Adviser with respect to these Funds is
currently subject to registration or regulation as a CPO under the CEA.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.