Change in Investment Manager of the underlying fund of L32 Reliance Emergent India
27 May 2019
Friends Provident International Limited (“Friends Provident International”) has been notified by Reliance Asset Management (Mauritius) Limited (“The Company”) of a change in investment manager of the underlying fund of L32 Reliance Emergent India. The Company have advised that this change is expected to happen within fifteen days of the Company’s notification dated 16 May 2019.
The Company have confirmed:
“1. At the EGM of the Fund held on 15th April 2019, it was approved to change the investment manager of the Fund from RAMM to Reliance Asset Management (Singapore) Pte Ltd (“RAMS”).
Please note that RAMS is part of the same group of companies as RAMM.
2. Approval was sought by the Fund and obtained from the Financial Services Commission (“FSC”) in Mauritius to allow RAMS to act as investment manager of the Fund.
3. Following the FSC approval, authority has been given by the Fund to RAMS to carry out their due diligence on the Fund with a view to be appointed as the investment manager of the Fund.
4. The change in investment manager and the new prospectus are expected to happen within the next fifteen days…
5. Following the change in the investment manager, the Fund will make all its investments into India via the India Equity UCITS Fund (UCITS Fund) managed by RAMS…”
Should you have any questions regarding these changes, please contact International Funds & Investments.