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SCB Asset Management Company Limited would like to inform the unitholder that SCB Next Generation Internet (SCBNEXT) has been approved by the Securities and Exchange Commission Office on fund type change to be aligned with the investment portfolio including benchmark change to be aligned with the new fund type. Such change will be effective from 10 June 2024 onwards per following details.
| Subject | Existing | New |
| Fund Type | Feeder Fund | Fund of Funds |
| Investment Policy | The Fund mainly invests in the investment units of ARK Next Generation Internet ETF (ARKW) (Master fund) which is an actively managed Exchange Traded Fund (ETF) managed by ARK Investment Management LLC. The Master Fund will invest at least 80% of NAV in domestic and foreign equity securities of companies that are relevant to next generation internet which are companies focused on and expected to benefit from shifting the bases of technology infrastructure from hardware and software to the cloud, internet-based products and services and may also include FinTech Innovation, big data and the internet of things. The Fund will have an average net exposure in investment units of the Master Fund, in an accounting period at least 80 % of the Fund’s NAV | The Fund mainly invests in the investment units of foreign funds such as CIS and/or ETF that mainly invest in equity securities of worldwide companies that are relevant to next generation internet such as the companies that focused on and expected to benefit from shifting the bases of technology infrastructure from hardware and software to the cloud, internet-based products and services and may also include FinTech Innovation, big data and the internet of things. The Fund will have an average net exposure in investment units of foreign funds having characteristics as mentioned above, in an accounting period at least 80% of the Fund’s NAV and will invest at least 2 foreign funds, with an average investment in each fund not exceeding 79% of the Fund’s NAV in any accounting period. Investment Proportion in investment units of foreign funds depends on the fund managers’ discretion. |
| Management Style | SCBNEXT expects performance to be in accordance with the Master Fund, whereas the Master Fund aims to achieve higher performance than the Benchmark Index (Active Management). | SCBNEXT aims to achieve higher performance than the Benchmark Index (Active Management) |
| Benchmark | The Master Fund’s performance: 100% | Fund performance of ARK Next Generation Internet ETF: 70% and fund performance of Global X Internet of Things ETF: 30% |
The advantages of the change will help to streamline the portfolio management. There is no any impact to the investment policy, SCBNEXT still remains majority of the portfolio in ARK Next Generation Internet ETF (ARKW).
You may contact Client Relations 0-2777-7777 during business days between 08.30 – 17.00 for any further inquiries.
Announced on 9 May 2024
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