TIDMXGLE
db x-trackers II
Investment Company with Variable Capital
Registered office: 49, avenue J.F. Kennedy, L-1855
Luxembourg
R.C.S. Luxembourg B-124.284
(the "Company")
IMPORTANT NOTICE TO THE SHAREHOLDERS OF
db x-trackers II IBOXX SOVEREIGNS EUROZONE UCITS ETF
(the "Sub-Fund")
5 August 2016
The board of directors of the Company (the "Board of Directors")
hereby informs the shareholders of the Sub-Fund (the
"Shareholders") that it has resolved to make certain changes to the
Sub-Fund, as detailed below under A) OVERVIEW OF THE CHANGES (such
changes collectively referred to as the "Changes").
The Changes will be carried out on a date between 5 September
2016 and 28 February 2017 (the "Effective Date"). Once the Changes
have been implemented, a notice will be published on the website of
the Company, http://www.etf.db.com (the "Company's Website"),
confirming the Effective Date.
Capitalised terms not defined herein shall have the meaning
given to them in the prospectus of the Company (the
"Prospectus").
A) OVERVIEW OF THE CHANGES
1) Switch of Investment Policy
The Board of Directors has resolved to switch the investment
policy of the Sub-Fund from its current Indirect Investment Policy
to a Direct Investment Policy with Optimised Index Replication (the
"DRSwitch").
Currently the Sub-Fund is exposed to the performance of the
Reference Index by way of derivative transactions such as
individually negotiated (OTC) swap transactions. Once the DR Switch
is effective, the Sub-Fund will carry out its investment objective
by directly investing in a portfolio of transferable securities or
other eligible assets that will comprise a substantial number of
the constituents of the Reference Index in a similar proportion as
the Reference Index as determined by the Investment Manager and
Sub-Portfolio Manager.
Shareholders' attention is specifically drawn to:
-- the "Investment Objectives and Policies" and "Risk
Factors" sections (including "Risks in relation to
the tracking of indices", "Taxes on transactions
(financial transaction tax)" and "Securities lending,
sale with right of repurchase transactions and repurchase and
reverse
repurchase agreement transactions") of the main part of the
Prospectus as well as to the Product Annex;
-- the fact that, depending on market conditions, for a short period of
time (the "Switch Period"), the portfolio of the Sub-Fund
may be partially exposed to swap transactions as well as
direct
investments in fixed income securities relating to the
Reference
Index. The Investment Manager will seek to minimise the duration
of
the Switch Period whilst taking into account prevailing
market
conditions and acting in the best interests of investors;
-- the fact that, following the DR Switch, the Sub-Fund may enter into
securities lending transactions as more fully described in
the
Prospectus. In this context, investors' attention is drawn to
the fact
that in cases where cash collateral is permitted and accepted,
it may
be reinvested subject to the Investment Restrictions;
-- the fact that, following the DR Switch, in relation to subscriptions
or redemptions on the primary market in respect of the Sub-Fund,
the
Minimum Initial Subscription Amount, the Minimum Subsequent
Subscription Amount and the Minimum Redemption Amount (when
applicable) may be changed or may be introduced (such terms
defined in
and as more fully described in the Prospectus and Product
Annex);
-- the fact that, following the DR Switch, in relation to subscriptions
or redemptions on the primary market in respect of the Sub-Fund,
the
definition of "Transaction Day" will be amended, as detailed in
the
revised Prospectus and Product Annex, and the applicable
deadline to
consider applications for subscriptions and/or redemptions
received on
the same day will be amended from 5.00 p.m. to 3.30 p.m.
Luxembourg
time on the relevant Transaction Day;
-- the fact that, following the DR Switch, Transaction Costs, including
any taxes, may be incurred by the Sub-Fund and Primary
Market
Transaction Costs may be charged to Authorised Participants;
and
-- the fact that, following the DR Switch, the Sub-Fund will bear any
financial transaction taxes that may be payable by the
Sub-Fund.
2) Change of Investment Manager
The Board of Directors has resolved to change the Investment
Manager of the Sub-Fund (the "IM Change"). Currently, State Street
Global Advisors Limited ("SSgA") acts as Investment Manager of the
Sub-Fund. SSgA shall be replaced by Deutsche Asset Management
Investment GmbH ("DeAM GmbH") in order to act as the new Investment
Manager of the Sub-Fund.
DeAM GmbH, was established in the Federal Republic of Germany as
a private limited liability company (Gesellschaft mit beschränkter
Haftung), having its registered office at Mainzer Landstraße 11-17,
D-60329 Frankfurt am Main, Germany and is authorized and regulated
by the Federal Financial Supervisory Authority in Germany
(Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin). It is
registered with the commercial register of the local court of
Frankfurt am Main under number HRB 9135.
In addition, DeAM GmbH will sub-delegate certain of its
portfolio management functions to Deutsche Asset Management (UK)
Limited ("DeAM (UK)") under the terms of a Sub-Portfolio Management
Agreement as more fully described in the Prospectus. DeAM (UK) is a
limited liability company incorporated on 16 September 2004 under
the laws of England and Wales, having its registered office at
Winchester House, 1 Great Winchester Street, London, EC2N 2DB,
United Kingdom and is authorised and regulated by the Financial
Conduct Authority in the conduct of its designated investment
business (as defined in the FCA Handbook).
Investors should note that both on and after the Effective Date,
SSgA shall continue to carry out certain functions for the Sub-Fund
in order to facilitate the IM Change. Such functions would, for
example, include the oversight of settlement of trades initiated
before the Effective Date.
The IM Change has been decided in order to optimise and
rationalise the portfolio management set-up of the Sub-Fund. There
will be no increase in the fees levied on the Sub-Fund as a result
of this replacement.
3) Change of Names
The Board of Directors has resolved to change the name of the
Sub-Fund as detailed in the annex to this document.
B) General Information
Any costs or expenses associated with the implementation of the
Changes, will not be borne by the Sub-Fund or its Shareholders.
Shareholders who subscribe or redeem Shares in the Sub-Fund on
the primary market and who do not agree with the Changes, are
entitled to redeem their Shares in the Sub-Fund in accordance with
the Prospectus. Such redemptions shall be free of any Redemption
Charge from the date of this notice until 5:00 p.m. (Luxembourg
time) on 2 September 2016. Please note that the Company does not
charge any redemption fee for the sale of Shares in the secondary
market. Orders to sell Shares through a stock exchange can be
placed via an authorised intermediary or stockbroker. Shareholders
should note that orders in the secondary market may incur costs
over which the Company has no control and to which the above
exemption of Redemption Charge does not apply.
Further information regarding the Changes, including more
detailed information regarding the Direct Investment Policy and the
new Investment Manager and Sub-Portfolio Manager, will be contained
in the revised Prospectus, which will be available on the Company's
Website on or around the date of this document, and a copy of which
may be obtained free of charge at the Company's registered office
or at the foreign representatives' offices.
The updated key investor information document for the Sub-Fund
will be available on the Company's Website on or around the
Effective Date, and a copy of which may be obtained free of charge
at the Company's registered office or at the foreign
representatives' offices.
If you have any queries or if any of the above is not clear, you
should seek advice from your stockbroker, bank manager, legal
adviser, accountant or other independent financial advisor. All
shareholders are strongly advised to consult their tax advisor to
assess (1) the impact of the Changes and any potential tax
consequences thereof and (2) any potential changes between the
current and / or future taxation of their investment under the laws
of the countries of their nationality, residence, domicile or
incorporation.
Further information in relation to the Changes may also be
obtained from the legal entities mentioned under 'Contact
information' below, the offices of foreign representatives or by
sending an email to info.dbx-trackers@db.com.
Neither the contents of the Company's Website nor the contents
of any other website accessible from hyperlinks on the Company's
Website is incorporated into, or forms part of, this
announcement.
db x-trackers II
The board of directors
C) Contact information
db x-trackers II
49, avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of
Luxembourg
Deutsche Asset Management S.A.
2, boulevard Konrad Adenauer, L-1115 Luxembourg, Grand Duchy of
Luxembourg
Annex - Summary of changes
Current Share class Switch Change New name
name / ISIN of Investment of
Policy Investment
Manager
db 1C: From Indirect From SSgA db x-trackers
x-trackers LU0290355717 Investment to II EUROZONE
II Policy DeAM GmbH GOVERNMENT
IBOXX to (Sub-Portfolio BOND UCITS
SOVEREIGNS Direct Management ETF (DR)
EUROZONE Investment conducted
UCITS Policy by DeAM
ETF (Optimised (UK))
Index
Replication)
View source version on businesswire.com:
http://www.businesswire.com/news/home/20160805005004/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
August 05, 2016 04:00 ET (08:00 GMT)
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