Société d'Investissement à Capital Variable
15, avenue J.F. Kennedy
L- 1855 Luxembourg
R.C. Luxembourg n° B 111 842
(the “Company”)
Luxembourg, 27. September 2013
Dear Client,
We would like to inform you of an important decision taken by the Board of Directors of the Company (the “Board”) with regards to the Sub-Fund “ALKEN FUND – European Opportunities” (the “Sub-Fund”).
After careful analysis and consideration of the Sub-Fund’s current situation, as presented to the Board by the Sub-Fund’s Investment Manager, the Board, making use of the powers conferred upon it in the Company’s prospectus, has resolved to close the Sub-Fund to any further subscriptions from new investors, and to limit the possibility of further subscriptions from the Sub-Fund’s existing shareholders to a maximum amount of EUR 500’000.00 per day per existing shareholder. The Board nevertheless may accept larger orders upon request if it considers this appropriate. Those resolutions are effective as of 04/10/2013.
The Board together with the Investment Manager constantly monitors the size of the fund wishing to avoid any imbalances between assets managed and resources dedicated. Given the size of the Sub-Fund and its recent strong inflows, the Investment Manager believes that it is not in the interest of the shareholders to continue with such growth pace. As of 04/10/2013, the Sub-Fund will be closed to any further subscriptions from new investors. The Board may, however, consider re-opening it in the future.
For the avoidance of doubt, we should stress, though, that such measure does not affect whatsoever the existing shareholders’ right to exit the Sub-Fund at any time.
For any further query you may have in this respect, please do not hesitate to contact your usual professional adviser or the Company’s Registrar and Transfer Agent, FundPartner Solutions (Europe) SA.
We do count on your understanding and we thank you in advance for your continued trust and support.
On behalf of the Board of