FUND WIND UP INFORMATION
On Thursday, 28 July 2016, AMP Capital Funds Management Limited (ACN 159 557 721; AFSL 426455) as the Responsible Entity of the AMP Capital China Growth Fund (AGF or the Fund) held an Extraordinary General Meeting (EGM).
At the EGM, Unitholders voted on the following 2 resolutions:
- Resolution 1: Responsible Entity Resolution: This resolution provided Unitholders with a capital management opportunity on the basis that a suite of additional enhancements to the Fund would also be introduced.
- Resolution 2: LIM Resolution: This resolution directed the Responsible Entity to wind up the Fund. It was put forward by LIM Asia Multi-Strategy Fund Inc., a unitholder.
The results of the votes were as follows:
- Resolution 1: Responsible Entity Resolution was not approved by the required 50% majority of unitholders present and voting; and
- Resolution 2: LIM Resolution was approved by the required 50% majority of eligible unitholders
Following the passing of Resolution 2 at the EGM the RE commenced the wind-up of the Fund on 28 July 2016.
Following the receipt of the last remaining tax clearance from the Chinese tax authorities, we have determined to remove the base management fee, a reduction from 0.40% per annum to nil, effective 1 July 2018.
Sell-down of China-A Shares
100% of the Fund’s underlying portfolio has now been sold.
If you have any questions, please contact the Unitholder Information Line on (Australia) 1800 658 404 or (Overseas) +61 2 8048 8230 between 8.30am and 5.30pm (AEST) Monday to Friday.
+61 2 9257 5615
+61 477 320 333
Net asset value
|Current net asset value as at 31 August 2018|
|NAV per unit (ex Distribution)||$0.0299
Wind up distributions
A summary of the wind up distributions to unitholders is outlined below.
|September distribution - paid 30 September 2016||260.0 million||0.55109 per unit|
|October distribution – paid 11 November 2016||49.0 million||0.10386 per unit|
|December distribution – paid 7 February 2017||79.0 million||0.16745 per unit|
|October distribution – paid 23 November 2017||60.0 million||0.12718 per unit|
|December 2017 distribution – paid 7 February 2018||17.8 million||0.03774 per unit|
|Total wind up distributions paid to date||465.8 million||0.98732 per unit|
1Subject to market movements, currency fluctuations, costs of wind up and operating expenses of the Fund.
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