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Investec Global Strategy Fund
Registered office:
49, Avenue J.F. Kennedy
L-1855 Luxembourg
Grand Duchy of Luxembourg
Postal address:
Investec Global Strategy Fund
Investec Asset Management Guernsey Limited
Global Distributor and Service Provider
PO Box 250, St Peter Port, Guernsey
GY1 3QH, Channel Islands
THIS DOCUMENT IS IMPORTANT AND REQUIRES
YOUR ATTENTION. IF IN DOUBT, PLEASE SEEK
PROFESSIONAL ADVICE.
30 April 2015
Investec Asset Management Fund Centres
All other investors
+44 (0)20 7597 1800
Fax +352 2460 9923
[email protected]
Taiwan +886 2 8101 0800
Fax +886 2 8101 0900
[email protected]
Hong Kong +852 2861 6888
Fax +852 2861 6863
[email protected]
South Africa 0860 500 900
Fax 0861 500 900
[email protected]
www.investecassetmanagement.com
Dear Investor,
We are pleased to send your twice-yearly Investment Update booklet, including a statement of your investments
in the Investec Global Strategy Fund (‘GSF’), as at 31 March 2015. Also enclosed are explanation and notices of
changes that are relevant to your investment in the GSF and the following:
–– Notice of the Extraordinary General Meeting (‘EGM’) and Form of Proxy
The EGM is on 22 May 2015. If you cannot be present, we would please urge you to complete the Form of Proxy and
return it to us no later than 20 May at 3.00pm, using the business reply envelope supplied; by fax to (+352) 464 010 413
or by email to [email protected].
–– Notice of the Annual General Meeting (‘AGM’) and Form of Proxy
The AGM is on 11 June 2015. If you cannot be present, we would please urge you to sign and return the Form of
Proxy using the business reply envelope supplied to registered office of the Company at 49 Avenue J.F. Kennedy
L-1855 Luxembourg, by fax on (+352) 464 010 413, by email to [email protected] or by
mail no later than 4.00pm (CET) on 9 June 2015.
Report & Accounts
Copies of the Annual Report & Accounts* for GSF can be found on our website,
www.investecassetmanagement.com/igsfra. If you would like to request a printed copy, free of charge, please
contact us on +44 20 7597 1800 or by email, to [email protected].
Important administration and tax changes
Please see overleaf for further information on the following:
–– Anti-Money Laundering (AML) Regulations –– EU Savings Directive
–– Important notice for clients with Investec holdings in a joint account
–– UK Reporting Fund status
21356 - 04/15
Investec Global Strategy Fund, société d’investissement à capital variable, is registered with the trade and companies register of the Grand Duchy of Luxembourg
under number R.C.S. Luxembourg B139420. Registered address: 49, Avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg.
Online access
To view your portfolio valuations and transaction histories in your preferred choice of currency, please visit our online
valuation service ‘Indicator’ on www.investecassetmanagement.com/indicator.
Braille, large font and audio material
If you would like to receive this information in braille, large font or audio format, please call +44 (0) 207 597 1800 or
email [email protected] and let us know the format you would like, your name and address.
More information
If you would like further information regarding these changes, please contact your financial advisor in the first instance,
or Investec Asset Management. For further information on our funds, please visit our website,
www.investecassetmanagement.com1.
Thank you for your continued investment.
Yours faithfully,
Grant Cameron
John Green
DirectorDirector
Grant Cameron
John Green
DirectorDirector
*Copies of the Annual Report & Accounts are also available in German. If you would like an electronic copy, please contact us.
The website has not been reviewed by the SFC and may contain information with respect to non-SFC authorized funds which are
not available for public offer in Hong Kong. 1
Important administration and tax changes
Anti-Money Laundering (AML) Regulations
Over the last to 18 months, we wrote to investors in GSF to let them know that we were required to conduct a review
of client accounts to verify that we hold in-date Know Your Client documents. Luxembourg AML Regulations require
that we hold a current in-date identification document (i.e. passport) for all clients on the share register. This means
that we will need to write to you when the ID document reaches its expiry date, to request a certified true copy of your
new in-date identification document. We are appreciative of the co-operation we receive from our clients. By supplying
us promptly with the additional documentation we request from time to time you enable us to meet the statutory
requirements and allow us to administer your account efficiently.
EU Savings Directive
In line with EU Savings Directive rules for payments made, from 1 January 2015 the Luxembourg Government no
longer operates tax withholding on certain distributions and redemption proceeds. Information on relevant distribution
and disposal proceeds must instead be reported by GSF to the Luxembourg tax authorities and shared with investors’
home tax authorities as required under the terms of the Directive. Investors should seek tax advice if they need further
information on the impact of this change.
Important notice for clients with Investec holdings in a joint account
If you hold an account in joint names you may contact us to confirm whether or not a joint signature indemnity is in
place for your shareholding with the Registrar. This could be important upon the death of one of the joint shareholders
because such a joint indemnity would make the process to re-register the shareholding into the name(s) of the
surviving shareholder(s) more straight-forward and less time consuming.
If a joint signature indemnity is in force on an account, upon the death of one of the shareholders, the assets will
be reregistered into a new account in the name(s) of the surviving holder(s), assuming that the account is in good
order, at the request of the surviving account holder(s) following receipt by the Registrar of a death certificate and a
new registration form completed by the surviving holder(s). However, if no joint signature indemnity is in place, under
Luxembourg Law this is viewed as a common account and upon the death of a shareholder the Registrar would need
to have sight of the death certificate, Will and Grant of Probate before the holding(s) can be re-registered in a new
account of the surviving holders.
UK Reporting Fund status (relevant to UK taxpayers)
UK investors who hold shares in GSF on 31 December each year (GSF’s accounting year-end) may be liable to
taxation on the amount of income paid out or accrued in the Fund. The position will differ depending on whether
investors hold Income or Accumulation shares. For holders of Accumulation Shares it will also depend on whether a
deemed disposal of Shares was made for UK tax purposes at the end of the calendar year prior to the Fund being
granted Reporting Fund status (31 December 2010). This deemed disposal would have crystallised any gains made
from the point that the Shares were purchased to the date of deemed disposal i.e. on 31 December 2010 (where
there would have been be a deemed loss on disposal no election was required).
–– Holders of Income Shares will be liable to UK income tax on the amount of income actually distributed and any
excess of the reportable income which is not distributed.
–– Holders of Accumulation Shares that made the deemed disposal or whose Shares stood at a loss at 31 December
2010 will be liable to UK income tax on the reportable income.
–– Holders of Accumulation Shares who decided not to make a deemed disposal and whose Shares stood at a gain
at 31 December 2010 will continue to be subject to UK income tax in respect of gains made on disposals of Shares.
Details of the reportable income in respect of the Fund’s year to 31 December 2014 are available on our website at
www.investecassetmanagement.com/reportingfunds. This will take you to an externally hosted site, where you will be
asked to register by providing your name and e-mail address, accept user terms and set up a password to access all
fund reports. Reportable income is required by UK investors to complete their UK tax returns.