Notification of changes to the underlying fund of P89 BNP Paribas Brazil Equity
01 Sep 2021
We have been notified by BNP Paribas Funds (the “Company”) of the upcoming appointment of an additional investment manager of the underlying fund of P89 BNP Paribas Brazil Equity. This change will take effect from 30 September 2021 (the “Effective Date”).
The Company has advised the below, which has been taken from the shareholder circular of the underlying fund of P89 BNP Paribas Brazil Equity:
“BNP Paribas Funds adopted a “pool approach” whereby the management company has delegated its discretionary investment management functions in respect of each of the sub-funds of BNP Paribas Funds to one or more investment managers.
Following a review of the investment capabilities across the entities of BNP Paribas group, a BNP Paribas Group management entity, BNP PARIBAS ASSET MANAGEMENT Belgium (registered and regulated by Financial Services and Markets Authority of Belgium), will be appointed as a new investment manager for SFC-authorized sub-funds1 of BNP Paribas Funds with effect from the Effective Day.
The change of the investment managers will not result in any change in fees level or costs in managing the sub-funds. In addition, no costs and/or expenses will be incurred in connection with the change. The change would not materially change the features and overall risk profile of the sub-funds. There would be no change in the operations or the manner in which the sub-funds are being managed. There would be no change in the investment objective or policy of the sub-funds as a result of the change. Further, the change would not materially prejudice the existing investors’ rights of interest.”
Should you have any questions regarding these changes, please contact Fund Services.