Himalayan Fund N.V. End of contract with investment advisor (4570N)
29 September 2012 - 2:15AM
UK Regulatory
TIDMHYF
RNS Number : 4570N
Himalayan Fund N.V.
28 September 2012
Press Release
Himalayan Fund N.V. ends contract with investment advisor
AMSTERDAM, Friday, September 28, 2012 - Himalayan Fund N.V., the
Dutch investment Fund listed on NYSE Euronext Amsterdam and The
London Stock Exchange, today announces that its contract with
Iceman Capital Advisors Ltd has been terminated by mutual
agreement, effective September 30th, 2012.
Iceman Capital Advisors Ltd, the Jersey based investment
advisor, has been the Investment Advisor to the Fund since June
2006. Indasia Fund Advisors Pte. Ltd. of Mumbai, which has been
providing Indian market intelligence and company research to Iceman
Capital Advisors Ltd. will be engaged directly by the Fund to
provide continuing support to the Investment Committee. The Fund's
board and management process will remain as before, providing
stability and continuity. The directors will continue to use their
long experience with the Fund to further the best interests of
shareholders.
This change is the result of efforts by the directors to find
ways to reduce the expense base of the Fund. The Board continues to
look for ways to reduce its operating expenses as well as to find
additional distribution partners to grow the Fund's assets under
management.
About Himalayan Fund N.V.
Himalayan Fund N.V. is an investment fund with variable capital
incorporated under Dutch Law. The primary objective of the Fund is
to generate long-term capital gains for shareholders from investing
in India. Access to Indian markets by foreigners is restricted, but
thanks to its registration with the Securities and Exchange Board
of India as a 'Foreign Institutional Investor' Himalayan Fund N.V.
is able to hold all of its own investments directly and offer
shareholders the benefits of the double tax treaty between the
Netherlands and India.
The Fund 's Ordinary Shares are traded through Euronext
Amsterdam's TCS system once a week at a Transaction Price based on
Net Asset Value. Its Ordinary Shares are also traded on the London
Stock Exchange. The Net Asset Value is published every Friday on
www.himalayanfund.nl
Note to the editor, not for publication
For more information you can contact:
Himalayan Fund N.V.
Ian McEvatt, Chairman
T. +44 1534 844 080
M. +44 7990 777 888
CitySavvy B.V.
Robbert ter Hart
T. +31 20 794 47 32
E. robbert@citysavvy.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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