FAQ On Funds Consolidation

Dated 24-12-2013


What is the main reason for funds consolidation?


We have reviewed these funds and we anticipate that their fund sizes will become too small to achieve effective portfolio diversification in the long run. Therefore, the Manager is proposing the termination of the funds.  
 
Which Funds are affected? And when will be the meeting?

First Meeting
Date: 6 January 2014
Hong Leong GEMS Cash Plus Fund 4.00 p.m.
Hong Leong Global Value Fund 9.30 a.m.
Hong Leong GEM Resources Strategic Fund 11.00 a.m.
Hong Leong Vietnam Strategic Fund 2.30 p.m.
Date: 7 January 2014
Hong Leong Global Resources Income Fund 11.00 a.m.
Hong Leong Vietnam Fund 9.30 a.m.

 

Adjourned Meeting
Date: 24 February 2014
Hong Leong GEMS Cash Plus Fund 4.00 p.m.
Hong Leong Global Value Fund 9.30 a.m.
Hong Leong GEM Resources Strategic Fund 11.00 a.m.
Hong Leong Vietnam Strategic Fund 2.30 p.m.
Date: 25 February 2014
Hong Leong Global Resources Income Fund 11.00 a.m.
Hong Leong Vietnam Fund 9.30 a.m.

 
When is the termination date for the affected funds?
17 April 2014

What can I do?
You can attend the meeting and vote “For” or “Against” the resolutions stated in the Notice of Meeting. You can also opt to appoint Proxy to attend the meeting or failing him/her, the Chairman of the meeting will act as your proxy to vote on your behalf.
 
What will happen if I leave my money in my account when the funds consolidate?
You will receive the net cash proceeds (less any payments for liabilities of the funds) and income distribution (if any) in proportion to the number of units held by you.
 
When can I have my refund after the funds are consolidated?
You will receive your refund approximately one month after the date the funds consolidate.
 
Will my funds be directed to switch automatically into another fund?
No, as we are not allowed to switch automatically on your behalf. You have the choice to decide which funds you like to switch into that suit your risk appetite.
 
Is “auto-switching” allowed if I have invested through SaversPro?
No, as we are not allowed to switch automatically on your behalf.
 
Are there any charges incurred for switching?
There are no charges incurred for switching.
 
What forms do I need to complete for switching?
You will need to complete Switching Form and Suitability Assessment Form (if you have not done your suitability assessment).
 
Where can I perform the switching?
If you invested through your agent, please contact your servicing agent, or visit our nearest branch. Alternatively, you may download the Switching Form and Suitability Assessment Form (if you have not done your suitability assessment) from our website and email/mail us the completed and signed forms to perform the transaction. Please note that we do not accept switching request via fax.
 
If you invested through your bank, please contact your servicing bank.

When is the last date for switching or redemptions?
24 March 2014
 
Why is there a more than two-month period (from 6 January 2014 to 24 March 2014) needed before processing of refund when there are sufficient votes to close the funds right after the meeting?
The period is given to the Manager to dispose all the investments and assets of the funds; and also for auditors to audit the funds’ accounts in order to generate the final net asset value of the funds.
 
What if I wanted to switch from Hong Leong Vietnam Fund to other funds?
Switching is not allowed for wholesale fund. However, we are happy to facilitate this and you can go into any other fund without sales charge.
 
All you need to do is to redeem the Hong Leong Vietnam Fund and at the same time, fill in Account Opening Form, Pre-investment Form, Investment Application Form, Suitability Assessment Form (if you have not done your suitability assessment) and attach with a copy of your photocopied IC for submission.
 
If you have an existing account which invested in other funds (apart from the affected funds), you will only need to complete the Investment Application Form, Suitability Assessment Form (if you have not done the suitability assessment) and Pre-Investment Form.
 
If you invested through your bank, please contact your servicing bank.

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