In accordance with the provisions of the Product Annex of the Sub-Funds as disclosed in the current prospectus of the Company, to achieve its Investment Policy the Sub-Funds may:….
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db x-trackers MSCI Africa TOP 50 Index UCITS ETF
db x-trackers Stoxx® Europe 600 Food & Beverage UCITS ETF
db x-trackers Stoxx® Europe 600 Oil & Gas UCITS ETF
– enter into a financial contract (derivative) with Deutsche Bank AG to swap most subscription proceeds for a return on the relevant Reference Index (a “Funded Swap”); and/or
– invest in transferable securities and enter into derivative(s) with one or more Swap Counterparties relating to the transferable securities and the relevant Reference Index, in order to obtain the return on the relevant Reference Index (an “Unfunded Swap”).
According to the Prospectus, the Sub-Funds may, with due regard to the best interest of their Shareholders, decide from time to time to switch partially or totally from a Funded Swap to an Unfunded Swap and vice versa.
Based on the above provisions, the board of directors of the Company has decided to totally switch the Sub-Funds from a Funded Swap to an Unfunded Swap to be effective on 26 April 2017.
For the avoidance of doubt the cost of the Switch will not be borne by the Shareholders.