1. SCB DIVIDEND STOCK 70/30 LONG TERM EQUITY FUND (SCBLT1) | 5. SCB TARGET LONG TERM EQUITY FUND (SCBLTT) |
2. SCB STOCK PLUS LONG TERM EQUITY FUND (SCBLT2) | 6. SCB Selects Long Term Equity Fund (SCBLTSE) |
3. SCB LONG TERM EQUITY FUND (SCBLT3) | 7. SCB Set Index Long Term Equity Fund (SCBLTSET) |
4. SCB INTER LONG TERM EQUITY FUND (SCBLT4) |
SCB Asset Management Company Limited (SCBAM) would like to notify the unitholders that SCBAM has obtained the approval from the Office of the Securities and Exchange Commission (the SEC Office) on 19 March 2020 to amend the mutual fund scheme in relation to the classification of investment units by adding a new class of Super Savings Fund (SSF) units as an investment alternative for the unitholders. The amendments can be summarized as follows :
Topic | Details of Amendment | ||||||||||||||||||||||||
Fund’s Abbreviation |
Applicable to SCBLT1, SCBLT2, SCBLT3, SCBLT4, and SCBLTT only.
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Classification of Investment Units |
SCBLT1 SCBLT2 SCBLT3 SCBLT4 และ SCBLTT • Classification of Investment Units: - Fees or Expenses Chargeable to the Unitholders • Additional Details: Mutual funds are divided into 3 classes of investment units, namely: 1) Long-term Equity Fund (LTF) Class 2) Year 2020 Class SCBLT1, SCBLT4, and SCBLTT 3) Super Savings Fund (SSF) Class |
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SCBLTSE SCBLTSET • Classification of Investment Units: - The Right to Receive Dividends • Additional Details: - Year 2020 (Accumulation) Class - Year 2020 (Dividend) Class - Super Savings Fund (SSF) Class |
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Minimum Value of Initial Subscription/Subsequent Subscription/Redemption/Minimum Number of Investment Unit Redemption/Minimum Outstanding Value of Investment Units in the Fund Account/Minimum Outstanding Number of Investment Units in the Fund Account |
Year 2020 Class (SCBLT1, SCBLT2, SCBLT3, SCBLT4, and SCBLTT) Year 2020 (Accumulation) Class and Year 2020 (Dividend) Class (SCBLTSE and SCBLTSET)
SSF Class (All Funds)
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Dividend Payment |
• Dividend Policy SCBLT1, SCBLT4, SCBLTT 1. LTF Class : Not exceeding 2 times a year SCBLT2, SCBLT3 SCBLTSE, SCBLTSET Add • Criteria for Dividend Payment: LTF Class and SSF Class In making dividend payment each time, the payment shall be made in accordance with any of the following criteria: Year 2020 Class and Year 2020 (Dividend) Class |
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Switching of Investment Units |
• Investment units of the SSF class can be switched as per the following procedures:
In this regard, at the initial stage the service of switching of investment units between the SSF/SSF class of units of the fund under management of the Management Company and the SSF under management of other asset management companies is not available. • In the case that the unitholders instruct the Management Company to switch the investment units of (or transfer the investment of) the SSF class to other SSF/SSF class of units, the Management Company shall proceed to transfer the investment funds together with all interests within 5 business days from the date on which the instruction is received from the unitholders except otherwise approved or specified by the SEC or the SEC Office. In case of fund switching upon “dissolution of the fund” which is undertaken in accordance with the conditions of fund dissolution, the Management Company shall proceed to transfer the investment of the unitholders to another SSF/SSF unit class having the investment objective or risk level similar to that of the old fund, or to the SSF/SSF class of units having the lowest risk level, etc. The decision shall be made at the discretion of the Fund Manager and in line with the situation at each point of time. |
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Conditions of and Restrictions on the Allocation and Transfer of Investment Units |
Unitholders of the SSF class of investment units cannot sell, distribute, transfer, or pledge the investment units; or use the investment units as collateral. |
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Change of Fund Supervisor of SCBLT1 |
Old TMB Bank Public Company Limited New Citibank N.A. The change will be effective from 1 April 2020 onwards. |
Including the amendments made to other aspects of the Mutual Fund Scheme such as Definitions, Objective of the Mutual Fund Scheme, Offering for Sale of Investment Units after IPO, Redemption of Investment Units, Fees and Expenses Chargeable to the Fund and the Subscribers or Unitholders, Methods and Schedule for the Calculation and Notification of Net Asset Value/Net Asset Value per Unit/Prices of Investment Unit, Rules and Procedures to be Undertaken when the Net Asset Value per Unit is Incorrect, Names of Fund’s Auditors, and Other Provisions.
In this respect, SCBAM shall notify the unitholders of the effective date of such service in advance via our website: www.scbam.com.
Unitholders can take a look at the details of the amendments made to the mutual fund scheme of each fund via www.scbam.com or request for more information from our Customer Relations Department at 02-777-7777, press 0 and then 6, during 08.30 to 17.00 hours of our business days.
Please be informed accordingly.
Announced on 27 March 2020
SCB Asset Management Company Limited