STOCK EXCHANGE ANNOUNCEMENT
For Immediate Release 20 June, 2017
Davy Opportunity Trust (the "Trust")
Re: Appointment of Sub-Investment Manager
The Directors of Davy Investment Fund Services, the Manager of the Trust (the "Manager"), wish to announce that with effect from 16 June, 2017 The Investment Manager (having the consent of the Manager) has delegated certain portfolio management functions to Davy Asset Management Limited (the "Sub-Investment Manager") in respect of International Financial Services Growth Fund (the "Portfolio"), a portfolio of the Trust.
The Sub-Investment Manager will manage the investment and re-investment of the assets of the Portfolio in accordance with the provisions of the sub-investment management agreement entered into by the Manager, the Investment Manager and the Sub-Investment Manager dated 16 June 2017 (the "Sub-Investment Management Agreement"). The Sub-Investment Manager has its registered office at Davy House, 49 Dawson Street, Dublin 2, D02 PY05, Ireland and is authorised by the Central Bank.
The Sub-Investment Management Agreement is for an indefinite period and may be terminated by the Manager, the Investment Manager or the Sub-Investment Manager on 90 days' notice in writing, or such lesser period as the parties may agree to. The Sub-Investment Management Agreement also provides immediate rights of termination to the parties in certain circumstances.
The Sub-Investment Management Agreement contains certain indemnities in favour of the Sub-Investment Manager which are restricted to exclude matters arising by reasons of the fraud, negligence or wilful default of the Sub-Investment Manager.
J & E Davy
+353 1 614 3353
This announcement has been issued through the Companies Announcement Service of
the Irish Stock Exchange.
This information is provided by RNS