Octopus TitanVCT PLC Octopus Titan Vct Plc : Change Of Investment Manager
04 September 2017 - 6:25PM
UK Regulatory
TIDMOTV2
Octopus Titan VCT plc ("the "Company")
4 September 2017
Investment Management Arrangements
The Company is classified by the Financial Conduct Authority as an
alternative investment fund (an "AIF"). Under the Alternative Investment
Fund Management Directive (the "AIFM Directive"), member states are
required to ensure that each AIF managed within the scope of the AIFM
Directive has a single alternative investment fund manager (an "AIFM")
responsible for ensuring compliance with the AIFM Directive. An AIFM
must provide, at a minimum, portfolio management and risk management
services to one or more AIFs as its regular business irrespective of
where the AIFs are located or what legal form the AIFM takes.
AIFMs that manage AIFs whose assets under management ("AUM") do not meet
the size criteria set out in the AIFM Directive ("sub-threshold") will
not be subject to the full requirements of the AIFM Directive. Whilst
the Company is presently considered to be a sub-threshold AIFM, future
fundraisings may mean this threshold is exceeded. Therefore, Octopus AIF
Management Limited, which is a full scope alternative investment fund
manager, has been appointed as the Company's fund manager and the
current investment management agreement between the Company and Octopus
Investments Limited ("OIL") has been assigned by way of the deed of
novation from OIL to Octopus AIF (the "Assignment"), and subsequently
amended and restated by way of a deed of variation and restatement in
order to reflect Octopus AIF's status as a full scope AIFM. Pursuant to
a sub-management agreement (the "Sub-Management Agreement") between
Octopus AIF and OIL, OIL continues to provide portfolio management
services to the Company and pursuant to a depositary agreement BNP
Paribas provides depositary services to the Company.
As a result of the Assignment and the Sub-Management Agreement, the
personnel managing the Company's portfolio, and the investment
management fee payable by the Company, remain unchanged.
For further information please contact:
Nicola Board
Company Secretary
0207 776 8663
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Octopus Titan VCT plc via Globenewswire
http://www.octopusinvestments.com
(END) Dow Jones Newswires
September 04, 2017 04:25 ET (08:25 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Octopus Titan Vct (LSE:OTV2)
Historical Stock Chart
From Apr 2024 to May 2024
Octopus Titan Vct (LSE:OTV2)
Historical Stock Chart
From May 2023 to May 2024