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Amendments to rules and prospectus of Avaron Flexible Strategies Fund

Amendments to rules and prospectus of Avaron Flexible Strategies Fund.

Material changes to rules and prospectus of Avaron Flexible Strategies Fund approved by the Financial Supervision Authority on March 27 will come into effect on May 2, 2023.
The documents can be viewed here.

Material amendments to rules and prospectus:

Investment Policy

  • The selection of instruments which the fund may invest in will be smaller in the future. Until now, it was possible for the fund to use most of the instruments allowed under the law, but now those instruments which the fund does not use in practice to achieve investment goals are excluded. For example, the fund does not use leverage or derivatives to achieve its investment objectives. Derivatives are used only for hedging purposes in the portfolio.
  • In the fund’s investment policy, the focus will be directed to European markets, instead of emerging Europe markets.
    As per today’s asset allocation the portfolio consists mainly of bonds from Baltic and Skandinavian markets and equity of issuers from Western Europe.

Transactions with Fund Units

  • The notice period for the sale of fund units will change for the Avaron Flexible Strategies Fund. While until now the investor had to give 30 calendar days advance notice to withdraw from the Avaron Flexible Strategies Fund, then starting from May 2, 2023 the investor must give a 10 banking days advance notice to sell the units. There will be no possibility to redeem the units with shorter advance notice period (previously 7 calendar days) with applied redemption fee.
  • It will be allowed to switch the units of Avaron Flexible Strategies Fund with the units or shares of other funds managed by Avaron.

Other
In addition to the above, other minor changes and updates have been made throughout the prospectus of the Avaron Flexible Strategies Fund to simplify and improve the readability of the document.

Published on March 30, 2023

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