Comparison of investment objectives, risk profiles and ongoing charges of the Merging Fund and the Receiving Fund The investment objective of the Merg

Size: px

Start display at page:

Download "Comparison of investment objectives, risk profiles and ongoing charges of the Merging Fund and the Receiving Fund The investment objective of the Merg"

张町鱼
6 years ago
Views:

1 Fidelity Funds Société d Investissement à Capital Variable 2a, rue Albert Borschette, B.P. 2174, L-1021 Luxembourg R.C.S. Luxembourg B34036 Tél: (1) Fax: THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE. Fidelity Funds MoneyBuilder Europe Fund will merge into the Fidelity Funds European Growth Fund on 7 November 2016 Shareholder Choices If you agree with the changes proposed in this letter, you do not need to take any action. If you do not agree with the changes, you can either: Switch your existing Shares in the Fidelity Funds MoneyBuilder Europe Fund and / or in the Fidelity Funds European Growth Fund into any other fund offered by Fidelity as available to you, or, Redeem your existing Shares in the Fidelity Funds MoneyBuilder Europe Fund and / or in the Fidelity Funds European Growth Fund. Decisions must be effected by 28 October 2016, and no charge will apply. Key Facts Fidelity Funds MoneyBuilder Europe Fund will merge into the Fidelity Funds European Growth Fund on 7 November Both funds invest in European equities. The Applicable Risk Factors for both funds are the same. The Ongoing Charges Figure of Fidelity Funds European Growth Fund is greater than that of the Fidelity Funds MoneyBuilder Europe Fund. Dear Shareholder, 12 September 2016 I am writing to inform you that the Board of Directors of Fidelity Funds (the Board ) has taken the decision to merge Fidelity Funds - MoneyBuilder Europe Fund (the Merging Fund ) into Fidelity Funds European Growth Fund (the Receiving Fund ) with effect from 7 November 2016, or any later date as may be decided by the Board (the Effective Date ). Our records show that you are a shareholder (the Shareholders or you ) in one or both of these funds. Please note that the Merging Fund is not authorised by the Securities and Futures Commission in Hong Kong. The Board believes that the proposed Merger is in the best interests of Shareholders, as the Merging Fund is too small to be managed and administered cost-effectively for its Shareholders. The Merging Fund had approximately 9 million assets under management on 30 June Both funds have similar fee structures and the Board anticipates that the proposed merger (the Merger ) will not result in any dilution in the performance of the Receiving Fund. The Merger will be conducted in accordance with Article 21.bis of the Articles of Incorporation of Fidelity Funds (the Articles ) and Article 1 (20) a) and Chapter 8 of the Law of 17 December 2010 on undertakings for collective investment. Any terms not defined in this letter shall have the same meaning as in the Fidelity Prospectus for Hong Kong Investors (the Prospectus ). 1

2 Comparison of investment objectives, risk profiles and ongoing charges of the Merging Fund and the Receiving Fund The investment objective of the Merging Fund is as follows: The fund s investment objective is to achieve long-term capital growth primarily from a portfolio made up of shares of European companies. The portfolio is likely to have a bias towards medium-sized and small companies. The investment objective of the Receiving Fund is as follows: Invests principally in equity securities quoted on European stock exchanges. The risk profiles of the Merging Fund and of the Receiving Fund are described in the table below: Applicable Risk Factors # GENERAL RISKS THAT APPLY TO ALL FUNDS EQUITY RELATED RISKS DERIVATIVES RELATED RISKS The Merging Fund The Receiving Fund # For further information on these risk categories, please refer to the section 1.2. Risk Factors in the latest Prospectus. Ongoing Charges Figure ( OCF ) As at 30 April 2016, the OCF of the existing Share class in the Merging Fund and the corresponding Share class in the Receiving Fund were as follows: Class of Shares OCF 1 of the Merging Fund Share class to be merged to OCF 1 of the Receiving Fund A-Euro 1.70% A-Euro 1.89% The Board believes that the Merger will not trigger a dilution in the performance of the Receiving Fund. Full Information in relation to the Receiving Fund can be found in the Product Key Facts Statement ( KFS ) of the Receiving Fund and the Prospectus, which are available from the Hong Kong Representative or at Shareholders are required to read these documents. 1 The OCF represents the charges taken from the fund over a year and are stated with reference to the fund s average NAV per Share for the same year. It is calculated at the fund's financial year end and may vary from year to year. For new share classes, the OCF is estimated until the fund's financial year end. The types of charges included in the OCF are management fees, administration fees, custodian safekeeping and depositary fees, transaction-based payments made to the custodian, shareholder reporting costs, regulatory registration fees and Directors fees (where applicable). It excludes: performance fees (where applicable); portfolio transaction costs, except in the case of an entry/exit charge paid by the fund when buying or selling units in another collective investment undertaking. * This website has not been reviewed by the Securities and Futures Commission in Hong Kong. 2

3 Shareholder Choices 1. If you agree with these changes you do not need to take any action. The Merger will proceed as set out in the Articles and the Prospectus. All issues, switching and redemptions of Shares in the Merging Fund will be suspended from 6.00 pm Central European Time ( CET ) on 28 October For Hong Kong, the local dealing cut-off time of 5.00pm HK time shall apply. 2. If you are not in agreement with these changes, we are offering you a free switch of your existing Shares in the Merging Fund and / or in the Receiving Fund into any other fund offered by Fidelity as available to you, or, 3. You may choose to redeem your existing Shares in the Merging Fund and / or in the Receiving Fund free of charge. Redemptions or switches free of charge can be instructed on any Valuation Date until 5.00 pm HK time on 28 October 2016 starting from the receipt of this letter, and will normally be dealt with at the next calculated Net Asset Value ( NAV ). Different dealing procedures and / or cut-off times may apply if dealing in Shares is made through distributors. Please note that some distributors or other intermediaries may charge additional fees (such as switching or transaction fees) or expenses at their own discretion. For further information on these please contact your financial advisor or your usual contact at the distributor / intermediary whom you transact with. If you have not redeemed or switched your Shares in the Merging Fund by 28 October 2016, your existing Shares in the Merging Fund will be automatically converted into Shares of the corresponding Share class in the Receiving Fund. Shareholders of the Merging Fund will receive a number of Shares of the Receiving Fund, the total value of which will correspond to the total value of their existing Shares in the Merging Fund. This will be determined by multiplying the number of Shares of the corresponding class of the Merging Fund by the exchange ratio. The exchange ratio for the conversion of the Shares in the Merging Fund into the corresponding Shares in the Receiving Fund will be determined on the basis of the last available NAV of the Share classes concerned on 4 November 2016 as of close of business. The number of Shares of the Receiving Fund to be received by Shareholders of the Merging Fund may not be the same as the number of Shares they held in the Merging Fund. Shareholders of the Merging Fund will receive a written confirmation of the number of Shares which they will receive in the Receiving Fund post- Merger. Shareholders of the Merging Fund may deal in their newly issued Shares in the Receiving Fund from the opening of business on 8 November Any accrued income on investments in the Merging Fund at the time of the Merger will be included in the final NAV per Share of the Merging Fund, and such accrued income will be accounted for on an on-going basis after the Merger in the NAV per Share of the Receiving Fund. The proposed Merger should have no tax implications for the Merging Fund or the Receiving Fund in Hong Kong. Shareholders should note that the redemption or switching of your holding may be deemed as a disposal for tax purposes. Generally, investors will not be subject to any Hong Kong tax on capital gains realized on the redemption or switching of any Shares. However, if any acquisition, switching or redemption of Shares is or forms part of a trade, profession or business carried on in Hong Kong, gains realised may attract Hong Kong profits tax. If you have any concerns about your tax position, we recommend that you seek independent tax advice as we are not authorised to provide such a service. Expenses triggered by the Merger, such as audit and mailing charges will be borne by FIL Fund Management Limited, the Investment Manager of Fidelity Funds. The Merging Fund will bear the market-related transaction costs associated with the disposal of any investments that would not fit with the investment objective of the Receiving Fund. There are no unamortised preliminary expenses outstanding in respect of the Merging Fund. Any additional liabilities attributable to the Merging Fund, accruing after 6.00 pm CET on the Effective Date, will be borne by the Receiving Fund. Shareholders should note that in the week prior to the Effective Date, the intention is that the portfolio of the Merging Fund be rebalanced to match the portfolio of the Receiving Fund and all transaction costs arising from this rebalancing will be borne by the Merging Fund. From this point, the Merging Fund will follow the investment objective of the Receiving Fund. Amounts which cannot be distributed due to out-of-date or incorrect Shareholder information will be held in escrow accounts by the Caisse de Consignation in Luxembourg. Upon request, copies of the audit report prepared by the approved statutory auditor of Fidelity Funds in relation to the Merger may be obtained free of charge at the registered office of Fidelity Funds. 3

4 The Board accepts full responsibility for the accuracy of the content of this letter and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement herein misleading. If you have any questions related to this proposal, or if you want to request a copy of the Prospectus, KFS of the Merging Fund and / or the Receiving Fund, the Articles, the latest audited annual report and accounts and unaudited semi-annual report and accounts of Fidelity Funds (which are also available at or other material agreements relating to Fidelity Funds, please contact your usual Financial Adviser or the Fidelity Investor Hotline^ , or you can write to the Hong Kong Representative, FIL Investment Management (Hong Kong) Limited, at Level 21, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong. Yours faithfully, Jon Skillman Director CL * This website has not been reviewed by the Securities and Futures Commission in Hong Kong. ^ International Toll-free Number , available to calls from Australia, Canada, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, Thailand and USA. Service may not be available for certain mobile carriers. The + sign represents the International Access Prefix. China Toll-free Number: The Fidelity Investor Hotline is available from 9am to 6pm, Monday to Friday (except Hong Kong public holidays). 4

5 富達基金 Société d Investissement à Capital Variable 2a, Rue Albert Borschette, B.P. 2174, L-1021 Luxembourg R.C.S. Luxembourg B34036 電話 : (1) 傳真 : 此乃重要文件, 務請即時細閱如有任何疑問, 請諮詢專業意見富達基金 - MoneyBuilder 歐洲基金將於 2016 年 11 月 7 日併入富達基金 - 歐洲增長基金股東選擇若閣下同意本函件所建議的變動, 則毋須採取任何行動若閣下並不同意有關變動, 可選擇 : 把閣下在富達基金 - MoneyBuilder 歐洲基金及 / 或富達基金 - 歐洲增長基金的現有股份轉換至由富達提供的任何其他適用基金 ; 或贖回閣下在富達基金 - MoneyBuilder 歐洲基金及 / 或富達基金 - 歐洲增長基金的現有股份閣下必須在 2016 年 10 月 28 日之前作出決定, 費用全免摘要富達基金 - MoneyBuilder 歐洲基金將於 2016 年 11 月 7 日併入富達基金 - 歐洲增長基金這兩項基金均投資於歐洲股票兩項基金的適用風險因素相同富達基金 - 歐洲增長基金的經常性開支比率高於富達基金 - MoneyBuilder 歐洲基金的經常性開支比率親愛的股東 : 茲通知閣下, 富達基金的董事會 ( 董事會 ) 決定把富達基金 - MoneyBuilder 歐洲基金 ( 被合併基金 ) 併入富達基金 - 歐洲增長基金 ( 接收基金 ), 並由 2016 年 11 月 7 日或董事會決定的任何較後日期起生效 ( 生效日期 ) 根據我們的紀錄顯示, 閣下是上述一項或同時為兩項基金的股東 ( 股東或閣下 ) 請注意, 被合併基金並未獲得香港證券及期貨事務監察委員會的認可董事會認為有關建議合併乃符合股東的最佳利益, 原因是被合併基金的規模太小, 未能以具成本效益的方式為股東管理資產及營運基金被合併基金於 2016 年 6 月 30 日的管理資產約為 900 萬歐元兩項基金的收費結構相若, 董事會預期建議合併 ( 合併 ) 將不會導致接收基金的表現出現任何攤薄合併將根據富達基金的公司組織章程 ( 組織章程 ) 第 21 條副條, 以及 2010 年 12 月 17 日有關集體投資計劃的法例第 1 (20) a) 條和第 8 章進行本函件內未有定義的任何特定詞彙, 具有與富達香港投資者認購章程 ( 認購章程 ) 中所載相同的涵義 1

6 比較被合併基金與接收基金的投資目標風險類別和經常性開支比率以下是被合併基金的投資目標 : 基金的投資目標是透過主要投資於歐洲公司的股票組合, 提供長線資本增長投資組合可能偏重投資於中小型公司以下是接收基金的投資目標 : 首要投資於在歐洲證券交易所掛牌的股票證券下表顯示被合併基金與接收基金的風險類別 : # 適用風險因素適用於所有基金的一般風險股票相關風險衍生工具相關風險被合併基金接收基金 # 有關上述各類風險的詳情, 請參閱最新版本的認購章程 1.2 風險因素一節經常性開支比率 ( 經常性開支比率 ) 截至 2016 年 4 月 30 日, 被合併基金的現有股份類別與接收基金的相應股份類別的經常性開支比率如下 : 股份類別被合併基金的 1 被併入的股份類別經常性開支比率接收基金的 1 經常性開支比率 A 類別股份 - 歐元 1.70% A 類別股份 - 歐元 1.89% 董事會認為合併將不會導致接收基金的表現被攤薄有關接收基金的全部資料載於接收基金的產品資料概要 ( 產品資料概要 ) 及認購章程, 有關文件可向香港代表索取, 或可於 * 下載股東務必閱覽有關文件 1 經常性開支比率代表基金在一年內支付的費用, 並按基金於同年的平均每股資產淨值以百分比形式列示該比率於基金的財政年度結束時計算, 每年均可能有所變動就新股份類別而言, 經常性開支比率為截至基金財政年度結束前的估計數據經常性開支比率涵蓋多種收費, 包括管理費行政管理費託管人和保管人費用向託管人作出的交易費股東報告費用監管機構註冊費及董事袍金 ( 如適用 ), 但不包括表現費 ( 如適用 ) 投資組合的交易成本( 惟基金向另一項集體投資工具買入或出售單位時所支付的認購 / 銷售費除外 ) * 該網頁未經香港證券及期貨事務監察委員會審核 2

7 股東選擇 1. 若閣下同意有關變動, 則毋須採取任何行動合併將根據組織章程及認購章程規定的程序進行由 2016 年 10 月 28 日歐洲中部時間 ( 歐洲中部時間 ) 下午 6 時起, 被合併基金將暫停發行轉換及贖回所有股份在香港, 適用於當地的交易截止時間為香港時間下午 5 時 2. 若閣下並不同意有關變動, 可把閣下在被合併基金及 / 或接收基金的現有股份免費轉換至由富達提供的任何其他適用基金, 或 3. 閣下可選擇贖回閣下在被合併基金及 / 或接收基金的現有股份, 費用全免免費贖回或轉換的指示可於接獲本函件日期起計至 2016 年 10 月 28 日香港時間下午 5 時期間的任何估值日作出, 而價格一般將按下一次計算的資產淨值 ( 資產淨值 ) 釐定若透過分銷商買賣股份, 交易程序及 / 或截止時間可能有所不同請注意, 部份分銷商或其他中介商可能會酌情收取額外的費用 ( 例如轉換或交易費 ) 或開支詳情請向閣下的財務顧問查詢, 或以慣常的方式與閣下進行交易的分銷商 / 中介商聯絡若閣下並未於 2016 年 10 月 28 日之前贖回或轉換閣下在被合併基金的股份, 則閣下在被合併基金的現有股份將自動轉換為接收基金相應股份類別的股份被合併基金的股東將會接獲若干數目的接收基金股份, 而有關股份的總值將為股東在被合併基金所持現有股份的相應總值, 並按其所持被合併基金的有關類別股份數目乘以換算比率計算被合併基金的股份併入接收基金的相應股份的換算比率, 將按有關股份類別於 2016 年 11 月 4 日營業時間結束時的最新資產淨值計算被合併基金的股東所接獲的接收基金股份數目可能與其在被合併基金所持股份數目有所不同被合併基金的股東將於合併後接獲確認書, 列明其將接獲的接收基金股份數目由 2016 年 11 月 8 日營業時間開始起, 被合併基金的股東可買賣其在接收基金的新發行股份在合併時, 被合併基金的任何累計投資收益將計入被合併基金的最終每股資產淨值, 而有關累計收益將於合併後持續計入接收基金的每股資產淨值在香港, 有關建議合併對被合併基金或接收基金將不會造成任何稅務影響股東應注意, 就稅務目的而言, 贖回或轉換持倉可能被視作出售投資一般來說, 投資者將毋須就贖回或轉換任何股份而變現的資本收益繳納任何香港稅項然而, 若任何股份認購轉換或贖回屬於或構成在香港進行貿易專業或業務的一部份, 則有關已變現收益可能須繳納香港利得稅如閣下對稅務狀況有任何疑問, 建議尋求獨立的稅務意見, 因為我們未獲認可提供有關服務合併所引致的開支 ( 例如審核及郵遞開支 ) 將由富達基金的投資經理 FIL Fund Management Limited 承擔出售任何不符合接收基金投資目標的投資所涉及的市場相關交易費用, 將由被合併基金承擔被合併基金並無任何尚未支付的未攤銷初期費用在生效日期歐洲中部時間下午 6 時後所累計並歸屬於被合併基金的任何額外債務將由接收基金承擔股東須注意, 被合併基金擬於生效日期之前的一個星期內重整投資組合, 以配合接收基金的投資組合, 而進行重整所涉及的所有交易費用將由被合併基金承擔自此以後, 被合併基金將依循接收基金的投資目標凡因股東資料過時或不準確而未能分派的任何款額將保留於盧森堡信託局 (Caisse de Consignation) 的託管帳戶閣下可於富達基金的註冊辦事處, 要求免費索取由富達基金的認可法定核數師就有關合併所擬備的審核報告副本 3

8 董事會對本函內容的準確性承擔全部責任, 並確認已作出一切合理的查詢, 盡其所知及所信, 並無遺漏其他重要的事項, 致使本函所載的任何陳述含有誤導成份如對本建議有任何疑問, 或欲索取認購章程被合併基金及 / 或接收基金的產品資料概要組織章程富達基金的最新經審核的年報與帳目及未經審核的半年報告與帳目 ( 亦可於 * 下載 ) 或與富達基金有關的其他重要協議, 請以慣常的方式與閣下的財務顧問聯絡, 或致電富達投資熱線 ^ 查詢, 閣下亦可致函香港代表富達基金 ( 香港 ) 有限公司 ( 地址為香港金鐘道 88 號太古廣場二座 21 樓 ) 董事 Jon Skillman 謹啟二零一六年九月十二日 CL * 該網頁未經香港證券及期貨事務監察委員會審核 ^ 國際免費服務熱線為 , 適用於以下地區 : 澳洲加拿大日本南韓馬來西亞新西蘭菲律賓新加坡台灣泰國及美國此服務可能不適用於部份流動電話服務供應商號碼前的 + 符號代表國際直撥號碼中國免費服務熱線為富達投資熱線的服務時間為逢星期一至星期五上午 9 時至下午 6 時 ( 香港公眾假期除外 ) 4

Fidelity Funds Société d Investissement à Capital Variable 2a rue Albert Borschette, L-1246 B.P. 2174, L-1021 Luxembourg R.C.S. Luxembourg B Tél

Fidelity Funds Société d Investissement à Capital Variable 2a rue Albert Borschette, L-1246 B.P. 2174, L-1021 Luxembourg R.C.S. Luxembourg B Tél FIL Investment Management (Hong Kong) Limited Level 21, Two Pacific Place, 88 Queensway Admiralty, Hong Kong Tel: (852) 2629 2800 Fax: (852) 2956 3908 7 January 2016 Dear Business Partner, Change to the