db x-trackers Important Notice to Shareholders
February 14 2018 - 3:00AM
UK Regulatory
Concept Fund Solutions plc1
Investment Company with Variable Capital
Registered Office: 78 Sir John Rogerson's Quay, Dublin 2,
Ireland
Registration number: 393802
(the " Company ")
Important notice to Shareholders of
db x-trackers JPX-Nikkei 400 UCITS ETF (DR)
db x-trackers MSCI World Index UCITS ETF (DR)
db x-trackers S&P 500UCITS ETF (DR)
(the Funds ) 2
14 February 2018
The Board of Directors hereby informs shareholders of the Funds
(the " Shareholders ") that it is proposed to make amendments to
the share classes set out in the table below (the " Currency Hedged
Share Classes ").
Fund Currency Hedged Share Class ISIN
db x-trackers JPX-Nikkei "2D - GBP Hedged" IE00BPVLQF37
400 UCITS ETF (DR)
db x-trackers JPX-Nikkei "4C - USD Hedged" IE00BTGD1B38
400 UCITS ETF (DR)
db x-trackers MSCI World "2D - GBP Hedged" IE00BZ1BS790
Index UCITS ETF (DR)
db x-trackers S&P 500 "2C - GBP Hedged" IE00BM67HX07
UCITS ETF (DR)
This proposal follows the Central Bank's adoption of the ESMA
opinion in relation to UCITS share classes (ESMA34-43-296), whereby
the Company will be better positioned to meet the requirements of
the ESMA opinion by implementing a new hedging model to replace the
current model which employs the currency hedging methodology of the
Hedged Index (as defined below) of the Reference Index tracked or
replicated by the relevant Fund.
Capitalised terms used in this notice shall have the same
meaning ascribed to them in the latest version of the prospectus of
the Company (the " Prospectus ") unless the context otherwise
requires.
Amendments
The Sub-Portfolio Manager previously sought to employ the
currency hedging methodology of the relevant currency hedged
version of the Reference Index (" Hedged Index ") for each of the
Funds in relation to the Currency Hedged Share Classes. Going
forward the Sub-Portfolio Manager will not follow the currency
hedging methodology of such Hedged Index (and references thereto
will be removed from the relevant Supplement) but will instead
follow a hedging model as set out in the Prospectus (and/or
relevant Supplement). As per this methodology, the Sub-Portfolio
Manager will seek to hedge the currency of the Currency Hedged
Share Class against the currency exposures of the underlying
securities in the portfolio of the relevant Fund which differ to
the currency of that Currency Hedged Share Class. The Sub-Portfolio
Manager will generally hedge these currency exposures at Share
Class level by entering into currency forward exchange
contracts.
In line with the ESMA opinion, the Company will also seek to
ensure that any over-hedged or under-hedged positions caused by
external factors outside the control of the Company will not exceed
105% of the Net Asset Value for over-hedged positions and will not
fall short of 95% of the portion of the Net Asset Value which is to
be hedged against currency movements for under-hedged
positions.
Investors should note that the Currency Hedged Share Classes
will not completely eliminate currency risk, or provide a precise
hedge, and as such, investors may have exposures to currencies
other than the currency of the Currency Hedged Share Class.
Notification of Implementation
The date of implementation of the new hedging model for each
Fund will be notified on the website of the Company (
www.Xtrackers.com ) (the " Implementation Date ") but will be no
earlier than 16 March 2018 and no later than 30 July 2018.
Revised Supplement
The above changes will be reflected in a revised supplement of
each Fund (each a " Supplement ") to be issued on or around the
Implementation Date. Copies of the revised Supplement reflecting
the above change will be available on the website of the Company (
www.Xtrackers.com ), and a copy may be obtained on request free of
charge at the registered office of the Company or at the offices of
the foreign representatives, once available. Neither the contents
of the Company's website nor the contents of any other website
accessible from hyperlinks on the Company's website are
incorporated into, or form part of, this announcement.
Should you not agree with the proposed change, you may redeem
your shares held in the Fund in accordance with the terms and
conditions laid down in the Prospectus of the Company.
Shareholders who subscribe or redeem shares in the Fund on the
primary market are entitled to redeem their shares in the Fund in
accordance with the Prospectus. 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.
However, 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 charges does not apply.
Please note that if you are holding shares of the Fund through a
financial intermediary or clearing agent, redemption charges may be
applied by such financial intermediary or clearing agent.
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.
Shareholders should also consult their own professional advisers as
to the specific tax implications under the laws of the countries of
their nationality, residence, domicile or incorporation.
Yours faithfully
______________________________
Director
For and on behalf of
Concept Fund Solutions plc
1 Please note that on 16 February 2018, Concept Fund Solutions
plc will be re-named "Xtrackers (IE) plc".
2 Please note that on 16 February 2018, the Funds will be
re-named as per the table below:
Old Name New Name
db x-trackers JPX-Nikkei Xtrackers JPX-Nikkei 400 UCITS ETF
400 UCITS ETF (DR)
db x-trackers MSCI World Xtrackers MSCI World UCITS ETF
Index UCITS ETF (DR)
db x-trackers S&P 500 UCITS ETF (DR) Xtrackers S&P 500 UCITS ETF
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