Announcement for Amendments to 18 mutual funds

28 November 2017

       This is to notify that SCB Asset Management Company Limited (the Management Company) has sought an approval from the Securities and Exchange Commission (SEC) for the amendment of 18 mutual funds’ investment guideline (names of the funds as listed in the following page) to be invested in funds under management of the Management Company, the amendment has approved on 17 November 2017, as followed :

1. The amendment is in line with the Notification of the Securities and Exchange Commission No. Sor Nor. 10/2560 Re: Rules, Conditions and Procedures Relating to Investment in or Holding of Investment Units of Other Funds Managed by the Management Company, effective from March 1, 2018 onwards. (Unitholders will be exempted from redemption fee (if any) prior to the effective date of the amendment.) 

Current Amendment
The Funds can not be invested in unit trusts under management of a management company. The Funds can be invested in unit trusts under management of the Management company. The Funds will not be double charged fees. The Funds do not have the right to vote in the destination fund unless such fund is a property fund or infrastructure that the funds can votes no more than one-third of the total units of the fund.


2. The amendment is in line with the Notification of the Capital Market Supervisory Board No. 38/2560 Re: Investment of the Fund (No. 5), effective from November 17, 2017 onwards. The amendment related to investment in mutual funds under the management of the Management Company will be effective from March 1, 2018 onwards.

Current Amendment
To invest in any CIS / Infra / Unit of any Fund, no more than 25% of the total units of CIS or CIS Foreign Fund or of the total units of the infra or property fund issued. (concentration limit) To invest in any CIS / Infra / Unit of any Fund, no more than one- third of the total units of CIS or CIS Foreign Fund or of the total units of the infra or property fund issued. (concentration limit) except for investment in other MF units managed by the Management Company that has no limitation, it must be within the framework of each fund's investment policy.
Reporting on investment ratio exceeds limitation without additional investment (passive breach)
  • If investment ratio of the fund exceeds limitation without additional investment for 5 consecutive working days, the management company must send a report to SEC and the trustee within the business day after the end of such period.
  • In case of SCBGLOW SCBRMGW SCBRMGWP must be amended within 90 days after the expiration of such period.
  • If investment ratio of the fund exceeds limitation without additional investment for 5 consecutive working days, the management company must send a report to SEC and the trustee within 3 business days after the end of such period.
  • In case of SCBGLOW SCBRMGW SCBRMGWP must be amended within 180 days after the expiration of such period.


3. The amendment is in line with the Notification of the Securities and Exchange Commission No. Sor Nor. 22/2560 Re: Rules, Conditions and Procedures for Management of Mutual Funds for General Investors Mutual Funds for Non-Retail Investors For institutional investors and private funds (No. 5) effective from November 17, 2017 onwards.

Current Amendment
The reduction or increase of fees or expenses under the rates specified in the investment guideline (ceiling), not subject to public disclosure or announce. It is required to public disclose or announce the reduction or increase of fees or expenses under the rates specified in the investment guideline (ceiling), by an appropriate method within 3 business days from effective date.

 

       For more information, please do not hesitate to contact our customer services at 02-777-7777, press 0 and then 6 during 08.30 to 17.00 or visit our website at www.scbam.com.

 

This is to announce for your acknowledgement.
November 28, 2017
SCB Asset Management Company Limited

 

List of funds to be amended
1. SCB TREASURY MONEY OPEN END FUND (SCBTMF) 10.  SCB INCOME PLUS FUND (SCBPLUS)
2. SCB Short Term Fixed Income Fund (SFF) 11.  SCB DIVIDEND STOCK 70/30 LONG TERM EQUITY FUND (SCBLT1)
3. SCB RETIREMENT FIXED INCOME OPEN END FUND (SCBRF) 12.  SCB INTER LONG TERM EQUITY FUND (SCBLT4)
4. SCB Flexible Fund (SCBFLX) 13.  SCB SMART LONG TERM EQUITY FUND (SCBLTS)
5. SCB SMART PLAN 2 OPEN END FUND (SCBSMART2) 14.  SCB SHORT TERM FIXED INCOME RMF (SCBRM1)
6. SCB SMART PLAN 3 OPEN END FUND (SCBSMART3) 15.  SCB GOVERNMENT BOND RMF (SCBRM2)
7. SCB SMART PLAN 4 OPEN END FUND (SCBSMART4) 16.  SCB SMART PLAN 3 OPEN END FUND (SCBRM3)
8. SCB MULTI INCOME PLUS FUND (SCBMPLUS) 17.  SCB GLOBAL WEALTH RMF (SCBRMGW)
9. SCB GLOBAL WEALTH OPEN END FUND (SCBGLOW) 18.  SCB GLOBAL WEALTH PLUS OPEN END FUND (SCBRMGWP)

SCBAM

Suggested Fund

SCBPGF

SCB PLATINUM GLOBAL OPEN END FUND (Accumulation)

SCBLEQ

SCB LOW VOLATILITY EQUITY FUND (Dividend)

SCBLEQA

SCB LOW VOLATILITY EQUITY FUND
(Accumulation)

SCBLEQ-SSF

SCB LOW VOLATILITY EQUITY FUND (Super Savings Fund)

SCBRMLEQ

SCB Low Volatility Equity RMF

SCBROBOA

SCB Global Robotics Fund (Accumulation)

SCBTHAICGA

SCB Thai Equity CG Fund (Accumulation)

SCBDA

SCB DHANA ANANTA OPEN END FUND (Accumulation)