Prospectus Of Clerical Medical Open Ended Investment Company ...

a US person and are not purchasing the shares for the account or benefit of a US
Person and (b) agree to notify the ACD promptly if, at any time while they remain a
holder of any shares, they should become a US Person or shall hold any shares for
the account or benefit of a US Person.
- In specie application
The ACD may, by special arrangement and at its discretion (but subject always to the
requirements set out in the COLL Sourcebook), agree to arrange for the issue of
shares in exchange for assets other than cash but only if the Depositary has taken
reasonable care to determine that acquisition of the assets in exchange for the
number of shares to be created is not likely to result in any material prejudice to the
interests of holders or potential holders of shares in the Fund concerned.
- Minimum holding/purchase for income shares and accumulation shares
The minimum holding is £1,000 per Fund. This does not apply to a person investing
through a regular payment savings plan where there is no minimum holding nor to
those investors who hold shares purchased through lump sum investments before 9
August 2004 where a minimum holding of £500 per Fund applies. At its discretion,
the ACD may allow a person to hold a lesser amount.
The current minimum value of income shares and/or accumulation shares which may be the
subject of any one transaction for the purchase of shares is:
• £10,000 for an initial lump sum investment in the Company aggregated across all
Funds and £1,000 for each subsequent lump sum investment in income shares
and/or accumulation shares in the Company. A minimum of £1,000 must be
invested in one Fund. The ACD will waive the limit for subsequent lump sum
investments (made directly with the Company rather than through a financial
advisor) by those investors who hold shares purchased before 9 August 2004.
For those investors, the minimum for each subsequent lump sum investment in
the Company is £500 per Fund.
• £400 per month in the Company for a person investing through a regular payment
savings plan by direct debit aggregated across all Funds. A minimum of £100 per
month must be invested in any Fund. The minimum increase to a regular
investment is £25 per month. For persons investing through a regular payment
savings plan by direct debit who wish to top-up with a lump sum investment, the
minimum is £1,000. Unless we agree otherwise, investments through a regular
payment savings plan must be made by direct debit on either the 1st or 15th (or, if
that day is not a business day, the next business day) of each month.
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