Source - RNS
RNS Number : 4572I
LGPS Hdg Fnd Col Inv Vehicle PLC
30 August 2016
 

 

COMPANY ANNOUNCEMENT



For Immediate Release

30 August 2016



LGPS Hedge Fund Collective Investment Vehicle plc

- Clwyd Managed Futures and Hedge Fund Strategy


RE: Update to the Fund

                                                                                         

 

The Board of Directors of Clwyd Managed Futures and Hedge Fund Strategy (the "Fund") a sub-fund of LGPS Hedge Fund Collective Investment Vehicle plc (the "Company") wishes to announce that the following change to the Fund, has been approved by way of a written resolution:

 

1.         That the proposed updates to the supplement of the Fund as attached hereto, to include reinsertion of previously approved updated investment policy wording, be approved.

 

 

With effect from 29 August 2016 the Investment Policy sub-section of the Investment Objective and Policy section of the supplement to the Fund is to be updated with the addition of the word "generally" to the third paragraph as outlined below:

"The Clwyd Portfolio will invest in a diversified portfolio of Investment Vehicles. Within its diversified portfolio allocation, it is the Investment Manager's current expectation that the Clwyd Portfolio will generally invest between approximately 20% and 80% of the Net Asset Value of the Clwyd Portfolio in Investment Vehicles that employ a "Managed Futures" investment strategy. Managed futures means a professionally managed fund or program that primarily trades futures and forward contracts, but may also trade other derivative instruments such as swaps and options. Managed futures funds typically access (through derivative instruments) a broad range of markets including stocks, bonds, currencies, interest rates, energies, metals, credit and agriculturals. For the avoidance of doubt, no more than 50% of the Net Asset Value of the Clwyd Portfolio may be invested in any one regulated or unregulated investment fund."

The Investment Policy sub-section of the Investment Objective and Policy section of the supplement to the Fund is to be updated with the following previously approved language:

"The Clwyd Portfolio may also invest a portion of its assets directly in equity and/or fixed income securities which may include, without limitation, bonds, notes and other debt instruments and securities. Such fixed income securities may be fixed or floating rate bonds and notes, debentures, commercial paper, loan interests, certificates of deposit and may also include convertible securities. The debt instruments in which the Clwyd Portfolio may invest may include investment grade, sub-investment grade and non-rated debt investments. Issuers may include governments, governmental agencies or instrumentalities, commercial banks, corporations and other non-governmental issuers on a global basis including in non-OECD countries and non-OECD currencies, and such instruments and securities may or may not be listed or dealt in on organised or over the counter markets or exchanges. The equity and equity related securities in which the Clwyd Portfolio may invest on a global basis may or may not be listed, are not restricted to any industry or sector, and may include investments in structured products and such other securities and instruments similar in nature to the foregoing, as may seem appropriate to the Investment Manager. The list is not exhaustive and such other securities, instruments and obligations (which will generally be traded or listed on stock exchanges or regulated markets listed in the prospectus) as may from time to time be consistent with its investment objective and policy may be used. Such direct investments may constitute a significant portion of the Clwyd Portfolio and may be illiquid or of limited liquidity."

 

The Illiquidity of Investments paragraph of the Investment Risks section of the supplement to the Fund is to be updated with the following previously approved language:

"To the extent that the Clwyd Portfolio invests directly in illiquid instruments, dispositions of such instruments may require a lengthy time period. The Clwyd Portfolio may be exposed to entities that cannot be sold except pursuant to applicable securities laws.  There can be no assurance that private purchasers can be found for such entities." 

 

Enquiries:




Matheson                                                                                 Yvonne Lappin

                                                                                                Tel: +353 1 232 2000

 

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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