S.A.I. ATLAS ASSET MANAGEMENT S.A. registered in the FSA Register under no. PJ307.1AFIAA/400006, as manager of FIA HERALD, FIA HERMES, FIA DCP INVESTITII AND FIA MICHELANGELO, hereby informs the investors regarding the approval by the FSA, by means of Authorisations no. 356/19.12.2019, 357/19.12.2019, 358/19.12.2019, 359/19.12.2019, of the following amendments made to the funds’ documents (Issue Prospectuses and Company Agreements):
• update the valuation method for the securities included in the funds’ portfolios according to the provisions of FSA Regulation 2/2018 and FSA Regulation 9/2014;
• add the chapter “Securities financing transactions” according to the provisions of EU Regulation no. 2365/2016;
• amend the funds’ investment policy as to eliminate direct or indirect investments in money market instruments such as commercial papers which are not dealt in on a regulated market or where no composite price model exists;
• add the chapter “Circumstances in which the issue and redemption may be suspended by the FSA or the Company”, by adding 2 exceptional cases when operations may be suspended by the Company, as follows: (i) In case the value of redemption requests submitted on a redemption day exceeds 15% of the value of the Fund’s assets, the Company may decide to pay them out up to 15% of the Fund’s assets, and the redemption requests shall be registered using the FIFO method; the Company shall publish on www.atlas-am.ro an announcement regarding the suspension of operations, as well as the suspension period, which may not exceed 30 business days; (ii) In case the value of redemption requests submitted during 2 consecutive redemption periods exceed 50% of the value of Fund’s assets, the Company reserves the right to suspend the operations for the following 2 redemption periods.
• update the chapter on merger, transformation, liquidation and maturity of the funds;
• Depositary’s responsibilities were updated/reformulated according to FSA Regulation no. 2/2018;
• eliminate from the investment policy the wording “obtain returns superior to bank deposits” so as to avoid falling under EU Regulation 1131/2017 on money market funds;
Besides the changes made in order to comply with Regulation 2/2018 and EU Regulation no. 2365/2016, the management company also made the following changes to the funds’ formation documents:
• update the chapter on “Protection of individuals regarding personal data processing” in alignment with GDPR Regulation, the European regulation on personal data protection;
• update the chapter on the delegation of the management activity and accounting activity respectively;
• update/amend certain provisions for increased clarity/understanding of the content of Issue Prospectuses and Company Agreements;
Investors disagreeing with the amendments made to the Funds’ documents may redeem the units held only in full, within 15 days from the publication of the notice to investors. Complete details regarding the amended documents may be obtained on www.atlas-am.ro, or upon request, free of charge, at the registered office of the management company of Bucharest, sector 1, Sos. Bucuresti Ploiesti nr. 7A etaj 6 biroul 1 telefon 021- 021 361 78 21, fax 021- 361 78 22.