Notice to the Participants of BDO US Equity Feeder Fund
Notice to the Participants of BDO UITFs
Notice to the Participants of BDO Equity Funds
Fund Structure
The Fund is a US Dollar-denominated global equity unit investment trust fund (UITF) structured as a feeder fund.
Investment Objective
The objective of the Fund is to generate long-term capital appreciation by investing in a single collective investment scheme, called the Target Fund, which is invested in a diversified portfolio of listed US companies, which reflects the return of the S&P 500. The Target Fund is the iShares Core S&P 500 UCITS ETF USD (Dist).
Investment Policy
As a feeder fund, the Fund shall invest at least 90% of its assets in a single collective investment scheme called the Target Fund. The remaining portion of its assets (maximum of 10%) will be invested and reinvested by the Trustee, with full discretionary powers, in deposits in the Trustee’s bank or in other banks. The Fund may invest in bank deposits beyond the 10% limit during the transitory period while the Fund switches target fund.
The Fund’s investment in the Target Fund should not comprise more than 10% of the Target Fund’s Net Asset Value. The Target Fund must also comply with the 15% single exposure limit and must neither be structured nor similarly structured as a feeder fund or fund-of-funds.
Client Suitability
The Fund is suitable for individual and corporate Investors with balanced risk appetite and who seek potentially higher returns through global stock market investments but are also aware of the possibility of capital losses that such investments may entail. In order to minimize risks and maximize earning potential, participants/trustors are recommended to stay invested for more than three (3) years. The Fund is not suitable for short-term investing.
Participation in the Fund shall be open to Filipino citizens, Philippine residents and domestic corporations with capacity to contract and who are not considered US Persons under the US securities and tax laws.
Prospective participants should also consult their own tax advisors as to the specific Philippine tax consequences of acquiring, holding and redeeming of any units of the Fund, as well as the consequences arising under the laws of any other taxing jurisdiction.
Fund Facts
| Bloomberg Ticker | BDOUSEF PM |
| Fund Type | Equity Fund |
| Inception Date | April 18, 2016 |
| Benchmark | S&P 500 Index |
| Initial NAVpU | USD 100.00 |
| Minimum Investment | USD 500.00 |
| Minimum Additional / Minimum Maintaining Participation | USD 500.00 |
| Minimum Holding Period | None |
| Early Redemption Fee | Not Applicable |
| Trust Fee | 0.50% p.a. |
| NAVpU Availability | Every trading day at 4:00 p.m. |
| Dealing Period: Admission and Redemption Orders |
Admission and Redemption orders are subject to a one (1) day advanced notice requirement ("Order Date" or T - 1). Cut-off time for Admission and Redemption orders is up to 2:30 p.m. of any banking day. Orders placed after the cut-off time will be processed on the next banking day.
The Fund shall be closed for orders during Target Fund non-dealing days. Click here for details. |
| Valuation Date | Admission and Redemption shall be based on the NAVPU computed on Valuation Date (T + 0) |
| Settlement Period (Funding): Admissions | On Admission Order Date or one (1) day prior the Valuation Date (T - 1) |
| Settlement Period: Redemptions |
Five (5) banking days from Redemption Valuation Date (T + 5). This is six (6) banking days after the Redemption Order Date. |
| External Auditor | Punongbayan & Araullo |
General Information on the Target Fund
For more information on the Target Fund, please read its Prospectus and Fund Fact Sheet available at www.ishares.com.
| Target Fund | iShares Core S&P 500 UCITS ETF USD (Dist) |
| ISIN | IE0031442068 |
| Fund Structure |
The Target Fund is a sub-fund of iShares Public Limited Company (the “Company). The Company is an umbrella open-ended investment company with variable capital and having segregated liability between its sub-funds. The Company is incorporated with limited liability in Ireland on 21 January 2000 under registration number 319052 and authorised by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011, as amended.
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| Investment Objective | The Target Fund seeks to provide investors with a total return, taking into account both capital and income returns, which reflects the return of the S&P 500. |
| Investment Policy | In order to achieve the investment objective, the Target Fund will invest in a portfolio of equity securities that as far as possible and practicable consist of the component securities of the S&P 500, the Target Fund’s Benchmark Index. The Target Fund intends to use optimisation techniques in order to achieve a similar return to the Benchmark Index and it is therefore not expected that the Target Fund will hold each and every underlying constituent of the Benchmark Index at all times or hold them in the same proportion as their weightings in the Benchmark Index. The Target Fund may hold some securities which are not underlying constituents of the Benchmark Index where such securities provide similar performance (with matching risk profile) to certain securities that make up the Benchmark Index. However, from time to time the Target Fund may hold all constituents of the Benchmark Index. |
| Issuing Company | iShares Public Limited Company |
| Manager | BlackRock Asset Management Ireland Limited |
| Investment Manager | BlackRock Advisors (UK) Limited |
| Administrator | State Street Fund Services (Ireland) Limited |
| Custodian | State Street Custodial Services (Ireland) Limited |
| Domicile | Ireland |
| Inception Date | March 15,, 2002 |
| Total Expense Ratio | 0.07% |
| Base Currency | US Dollar |