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Re: Modification of the La Française Rendement Global 2028 Plus sub-fund, a sub-fund of the La Française SICAV
Dear Sir, Madam,
You are a unitholder in the La Française Rendement Global 2028 Plus sub-fund. We thank you for the trust you have placed in us.
The Management Company has decided to amend the regulatory documentation of the La Française Rendement Global 2028 Plus sub-fund (hereinafter the "Sub-Fund"). Therefore, La Française Asset Management is proposing to develop the La Française Rendement Global 2028 Plus sub-fund in order to adapt to the current environment by trying to provide solutions in view of the low interest rate environment. The performance of the Sub-Fund may also be affected by other factors, such as hedging costs and defaults.
- Changes effective as of 6 October 2021 requiring authorisation from the Autorité des marchés financiers:
The Sub-Fund may now invest in non-rated securities up to a maximum of 30% of the net assets.
In addition, the Sub-Fund may invest in contingent convertible bonds (so-called "cocos") up to a maximum of 20% of the net assets. A risk has been added under the heading "risk profile" in the prospectus relating to the investment in contingent convertible bonds.
Finally, the financial leverage will be limited to 150% of the net assets of the sub-fund compared to 120% currently.
These changes will result in an increase in the risk/return profile of the Sub-Fund. However, the Sub-Fund's SRRI (5) will remain unchanged.
These changes were approved by the AMF on 20 September 2021.
- Changes effective as of 6 October 2021, not requiring authorisation from the Autorité des marchés financiers:
The Management Company has decided to implement extra-financial measures in the Sub-Fund, in particular in order to take into account environmental, social and governance criteria (so-called "ESG "criteria) in the selection of issuers of securities. However, it is specified that the extra-financial approach implemented in this Sub-Fund is not systematic
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