Threadneedle Prospectus - Threadneedle Investments

Threadneedle (Lux) SICAV Prospectus
Market Timing and Late Trading
The SICAV may reject or cancel any purchase orders, including
exchanges, for any reason.
For example, excessive trading of Shares in response to short-term
fluctuations in the market, a trading technique sometimes referred to
as ‘market timing’, has a disruptive effect on portfolio management
and increases Portfolio expenses. Accordingly, the SICAV may in the
sole discretion of the Directors compulsorily redeem or reject any
purchase orders, including exchanges, from any investor that the
SICAV reasonably believes has engaged in market timing activity, or
investors that in the Directors’ sole discretion, may be disruptive to
the SICAV or any Portfolio. For these purposes, the Directors may
consider an investor’s trading history in the Portfolios and accounts
under common control or ownership.
Moreover, in addition to the exchange and redemption fees listed
elsewhere in this Prospectus, the SICAV may impose a penalty
of 2.00% of the Net Asset Value of the Shares redeemed or
exchanged where the SICAV reasonably believes that an investor
has engaged in market timing activity. The Shareholders concerned
will be warned in advance if such a fee is likely to be charged and
that penalty shall be credited to the relevant Portfolio. The Directors
will not be held liable for any loss resulting from rejected orders
or mandatory redemption.
Late trading is not allowed by the SICAV.
Suspension of Issue, Redemption and
Exchange of Shares and Calculation of
Net Asset Value
All subscriptions, redemptions or exchanges will be done on the
Net Asset Value next calculated after the order is received (e.g. an
unknown Net Asset Value)
The SICAV may suspend the determination of the Net Asset
Value, the issue of Shares and the right of any Shareholder to
require redemption or exchange of Shares of any Portfolio:
(a) During any period when any principal stock exchange,
Regulated Market or any Other Regulated Market in a
Member State or in an Other State on which a substantial
part of the SICAV’s investments attributable to such Portfolio
is quoted, or when one or more foreign exchange markets in
the currency in which a substantial portion of the assets of
the Portfolio is denominated, are closed otherwise than for
ordinary holidays or during which dealings are substantially
restricted or suspended; or
(b) Political, economic, military, monetary or other emergency
beyond the control, liability and influence of the SICAV makes
the disposal of the assets of any Portfolio impossible under
normal conditions or such disposal would be detrimental to the
interests of the shareholders; or
(c) During any breakdown in the means of communication
network normally employed in determining the price of any of
the relevant Portfolio’s investments or the current prices on
any market or stock exchange or any other reason makes it
impossible to determine the value of a major portion of the
assets of any Portfolio; or
(d) During any period when the remittance or transfer of
monies which will or may be involved in the realisation of,
or in the payment of the relevant Portfolio’s investments
or in the redemption of Shares is not possible or where it
can be objectively demonstrated that purchases and sales
of the assets of any Portfolio cannot be effected at normal
prices; or
(e) In case of a decision to liquidate the SICAV or a Portfolio on
and after the day of publication of the first notice convening
the general meeting of Shareholders for this purpose or notice
given by the Board to this effect, as applicable;
(f)
When the NAV calculation of a UCI or Portfolio in which a
Portfolio has invested more than 50% of its NAV, is
suspended.
The SICAV shall suspend the issue, exchange and redemption of
Shares of any Class within a Portfolio forthwith upon occurrence
of an event causing it to enter into liquidation or upon the order of
the Regulatory Authority.
Any suspension shall be published, if appropriate, by the SICAV
and shareholders requesting subscription, exchange or
redemption of their Shares shall be notified by the SICAV of the
suspension at the time of the filing of the written request for such
subscription, exchange and redemption. The suspension as to any
Portfolio will have no effect on the determination of Net Asset
Value and the issue, redemption or exchange of Shares in any
Class of the other Portfolios.
Dividend Policy
The policy of the SICAV in respect of all Share Classes of
Portfolios, with the exception of Class AEP, Class AUP, Class
AEC, Class SUP, Class SEP and Class P, is to make no
distributions, to accumulate in such Portfolios all net earnings
and to reinvest these within the same Portfolio and Class. In
respect of Class AEP, Class AUP, Class AEC, Class SUP, Class
SEP and Class P, the SICAV intends to make distributions, with a
frequency, at least annually, and in an amount to be determined
by the Directors. The Shareholders of these Share Classes have
the option to receive the dividend or to reinvest it in the SICAV.
Tax Considerations
General
Prospective purchasers of Shares of each Portfolio should consult
their own tax advisors as to the taxes applicable to the
acquisition, holding or disposition of the Shares, or distributions
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