VAM Funds

Issued by ALQUITY SICAV, an open-ended Société d’Investissement à Capital Variable (SICAV) with multiple compartments, organised in accordance with Part 1 of the Luxembourg Investment Fund Law dated 17th December 2010 (UCITS V).

ALQUITY SICAV is incorporated in Luxembourg as a SICAV and is regulated by the Commission de Surveillance du Secteur Financier (CSSF) as a UCITS, under CSSF registration number O00006560. Its registered address is 46A, avenue John F. Kennedy, L-1855 Luxembourg. Limestone Platform AS has been designated to provide collective investment services, and Limestone Platform AS delegates the provision of certain of these services to third parties.

Alquity UK Limited is incorporated in the United Kingdom, whose subsidiaries include VAM Marketing Limited in Mauritius and Alquity Investment Management Limited in the United Kingdom.

IMPORTANT NOTICE

The distribution of this document and the offering of the shares may be restricted in certain jurisdictions. It is the responsibility of any person in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdictions.

Prospective applicants for shares should inform themselves as to the legal requirements and consequences of applying for, holding and disposing of shares and any applicable exchange control regulations and taxes in the countries of their respective citizenship, residence or domicile.

This document does not constitute an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not lawful or in which the person making such offer is not qualified to do so to anyone to whom it is unlawful to make such offer or solicitation.

Applicants are assumed to have read and understood the prospectus and accept the risks of an investment in ALQUITY SICAV. In particular, it is understood that they are aware that the portfolio of securities relating to each of the sub-funds of ALQUITY SICAV is subject to market fluctuations and to the risks inherent in all investments, and that the price of shares and any income from the shares may go down as well as up, and that the sub-funds of ALQUITY SICAV may be subject to volatile price movements which may result in capital loss.

Past performance does not predict future returns. No guarantee is provided, either with respect to the capital or the return of the fund. The value of participatory interests or the investments may fluctuate in value and may fall as well as rise.

Limestone Platform AS (the “Management Company”) ensures that reinvestment of income is calculated on the actual amount distributed per participatory interest, using the ex-dividend date net asset value (“NAV”) price of the applicable class of the fund, irrespective of the actual reinvestment date and that all publication of performance is accompanied by a disclosure indicating that the performance is calculated for the portfolio, as well as that the individual investor performance may differ as a result of initial fees, the actual investment date, the date of reinvestment and dividend withholding tax.

Performance figures quoted for the fund are from Lipper for Investment Management as at the date of this document for a lump sum investment, using NAV to NAV with income reinvested, and do not take any upfront manager’s charge into account.

The Management Company ensures that publishing of performance of a portfolio is based on performance calculations which are done on a NAV-to-NAV basis over all reporting periods, provided that, where a NAV is not available, the value used to calculate the performance is clearly stated and a description of how the figures were calculated is provided.

A fund of funds is a portfolio that invests in portfolios of collective investment schemes that levy their own charges which could result in a higher fee structure.

Investments in foreign securities may include additional risks such as potential constraints on liquidity and repatriation of funds, macro-economic risk, political risk, foreign exchange risk, tax risk and settlement risk, as well as potential limitations on the availability of market information.
The risk and reward indicator illustrates where the fund is positioned in terms of its possible risk and reward. The higher the fund’s position on this scale, the greater the possible reward, but also the greater risk of losing money. This risk indicator is calculated using historical data which cannot be used as a prediction for the future. Therefore, the risk classification may change over time. Even if the fund is in the lowest risk class, an investor can lose money, as no investments are entirely risk-free.

The risk and reward indicator has been calculated using simulated historical performance data (only where applicable) which may not be a reliable indicator of the fund’s future risk and reward profile.

Further information about risk can be found in the prospectus which is available at www.vam-funds.com/library/reports/?share=a.

Subscriptions may only be accepted based on the information contained in the prospectus of the fund and its annual and semi-annual reports.
ALQUITY SICAV – VAM US SMid Cap Growth Fund, ALQUITY SICAV – VAM US Small Cap Growth Fund, ALQUITY SICAV – VAM Cautious Fund, ALQUITY SICAV – VAM Balanced Fund and ALQUITY SICAV – VAM Growth Fund have been approved in South Africa as foreign Collective Investment Schemes under section 65 of the Collective Investment Schemes Control Act 2002. A potential investor will be capable of investing in ALQUITY SICAV only upon conclusion of the appropriate investment agreements and provided the relevant investor complies with any applicable exchange control requirements. Collective Investment Schemes (“CIS”) are generally medium to long-term investments.

 

CIS portfolios are traded at ruling prices and can engage in borrowing and script lending. A schedule of fees and charges, as well as maximum commission, is available on request from the Management Company. Performance methodologies can be obtained upon request at marketing@vam-funds.com. All rates of return include reinvested dividends and are net of all management and performance fees.

A performance fee, where applicable, may be paid to the Management Company on a quarterly basis. The Management Company will be entitled to a performance fee calculated and crystalised in relation to each Valuation Day for each share and fraction thereof in issue for any specific fund, at a rate of 15% of the difference, if positive, between:

the NAV per share before deduction of the daily performance fee to be calculated, but after deduction of all other fees attributable to the respective class of shares, including but not limited to the management fee; and
the “high-water mark”, being the highest NAV per share of the class recorded on any preceding day.

The performance reference period corresponds to the entire duration of the relevant class of shares.

In relation to classes of shares launched during the financial year of the fund, the initial high-water mark shall be equal to the initial subscription price of such class of shares. Performance of classes of shares in currencies other than the reference currency of the fund shall be measured in the currency of such classes of shares.

This document and any attachments to it constitute factual, objective information about the fund and nothing contained herein should be construed as constituting any form of investment advice or recommendation, guidance or proposal of a financial nature in respect of any investment issued by ALQUITY SICAV or any transaction in relation to ALQUITY SICAV. ALQUITY SICAV is not a financial services provider in South Africa and nothing in this document should be construed as constituting the canvassing for, or marketing or advertising of, financial services by ALQUITY SICAV in South Africa.

Financial services providers to whom this document is addressed may only distribute it to clients who have already invested in policies issued by licensed South African long-term insurers, as aforesaid, for information purposes only and for no other reason whatsoever.

All transactions should be based on the latest available prospectus, the Key Investor Information Document (“KIID”) and any applicable local offering document. These documents, together with the annual report, semi-annual report and the articles of incorporation for the Luxembourg domiciled product(s), are available in English on the website (https://vam-funds.com/library) or from the office of Limestone Platform AS, Luxembourg Branch, ATRIUM BUSINESS PARK, VITRUM, 2nd Floor, 33 Rue du Puits Romain, L-8070 Bertrange, Luxembourg.

ALQUITY SICAV reserves the right to close a compartment, or one or more share classes within a compartment. ALQUITY SICAV may also set up new compartments and/or create within each compartment one or more share classes.

 

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