operational guide - carmignac · 2015. 9. 14. · operational guide / latam - us offshore /...
TRANSCRIPT
LATAM / US OFFSHORE
OPERATIONAL GUIDE & Account Opening Form
OPERATIONAL GUIDE / LATAM - US OFFSHORE /
SOMMAIRE
2 Subscription process – 4 possibilities
3 Account Opening
4-5 General Information
6 Operational Contacts
7 Rebates Calculation
8 Contacts
9 - APPENDIX A: LIST OF FUNDS
10 - APPENDIX B: TRADING CALENDAR 2015
12-37 - Account opening document
We remind you that Carmignac Funds are not registered in North and South America. The Funds have not been registered in accordance with the US
Securities Act of 1933. They may therefore not be offered or sold, either directly or indirectly, on behalf of or for the benefit of a US person, as defined
in Regulation S and by the US Foreign Account Tax Compliance Act (FATCA). OPERATIONAL GUIDE / LATAM - US OFFSHORE / 2
SUB
SCR
IPTI
ON
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OC
EDU
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HOW TO SUBSCRIBE?
CASE 1: Directly via our Transfer Agent CACEIS Bank Luxembourg
Account opening process: please refer to page 4
CASE 2: Via an International Central Securities Depositary (ICSD)
CASE 3: Via a Trading Platform (1)
CASE 4: Via Intermediaries
(1)
Trading Platform: CARMIGNAC is NSCC eligible since February 2015 – Participant ID: 3105 (2)
CALASTONE Fund Provider ID: CARMIGNAC and BIC CODE for SWIFT: CLAOLU2LCGL
FINANCIAL INTERMEDIARIES CACEIS BANK LUXEMBOURG
FINANCIAL INTERMEDIARIES
CLEARSTREAM/VESTIMA
EUROCLEAR/FUNDSETTLE
CACEIS BANK LUXEMBOURG
FINANCIAL INTERMEDIARIES
PERSHING
JP MORGAN Clearing Services
BBH
CALASTONE(2)
(...)
CACEIS BANK LUXEMBOURG
INDEPENDENT FINANCIAL
ADVISOR or
MULTI FAMILY OFFICE
DEPOSITARY BANK n°1
and/or
DEPOSITARY BANK n°2 (...)
CACEIS BANK LUXEMBOURG
We remind you that Carmignac Funds are not registered in North and South America. The Funds have not been registered in accordance with the US
Securities Act of 1933. They may therefore not be offered or sold, either directly or indirectly, on behalf of or for the benefit of a US person, as defined
in Regulation S and by the US Foreign Account Tax Compliance Act (FATCA). OPERATIONAL GUIDE / LATAM - US OFFSHORE / 3
AC
CO
UN
T O
PEN
ING
HOW TO OPEN AN ACCOUNT WITH CACEIS BANK LUXEMBOURG?
To open an account, please fill in the Application package and send it to CACEIS Bank Luxembourg. The documents below have to be attached:
Application form (p. 12 to 37)
Original letter of Representation signed by 2 authorized signatories for FCA regulated entities or 2 FCA regulated directors for non FCA regulated entities (letter enclosed in the Application Form document)
WOLFSBERG questionnaire – Available on the website http://www.wolfsberg-principles.com
Certified Copy of Articles of Incorporation & Memorandum of Association or Extract from Trade Registry ***
Proof of regulation
List of authorised signatories (powers and specimens)
Payment instructions
Certified Copy of valid ID Documents of the Company's "Legal Representatives" ***
Full Identification of Economic Beneficiaries => official declaration or register, self-declaration and original certified copy of valid ID documents ***
(***) Documents non-required for investors based in regulated countries
Bank detail
To pay via target, please note that the IBAN is LU83007J000000007EUR
We remind you that Carmignac Funds are not registered in North and South America. The Funds have not been registered in accordance with the US
Securities Act of 1933. They may therefore not be offered or sold, either directly or indirectly, on behalf of or for the benefit of a US person, as defined
in Regulation S and by the US Foreign Account Tax Compliance Act (FATCA). OPERATIONAL GUIDE / LATAM - US OFFSHORE / 4
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OUR FUNDS SICAV CARMIGNAC PORTFOLIO and FCP*: SICAV: 14 compartments available in 4 currencies (USD, EUR, CHF and GBP) FCP: 12 Funds available in 4 currencies (USD, EUR, CHF, and GBP) A & E share classes are eligible to rebates. F share classes are RDR compliant. Technical Cut-off time for your order transmission: please refer to the APPENDIX A
CACEIS Bank Luxembourg, 5 Allée Scheffer L-2520 LUXEMBOURG, has been designated to act as Administrative Agent (Domiciliary Agent, Registrar and Transfer Agent, Paying Agent) Depositary Bank: BPSS Luxembourg for SICAV / CACEIS Paris for FCP
Information about our funds available for Offshore Investors:
Number of decimals: 3
Settlement period for Subscriptions & Redemptions: TD+3 for EUR/USD/CHF & TD+4 for GBP
Settlement via CLEARSTREAM: yes Vestima Code: 11193 for SICAV CARMIGNAC PORFOLIO & 10007 for FCP French Funds
Time zone: Central European Time “CET”
Subscription and Redemption in Shares or amount are allowed
No fees charged by CARMIGNAC on subscription or redemption
Investor Restrictions: US investors, Private person, non-participating FFI, passive NFFE
Our FCP French Funds and our SICAV CARMIGNAC PORTFOLIO should enter in a category of Foreign Financial Institution (FFI) named Non Reporting Foreign Financial Institution (NRFFI) that is deemed to comply FATCA rules. This qualification should be confirmed by the futures IGA expected for this autumn (IGA Luxembourg-US and France-US). As a result, neither our FCP French Funds nor our SICAV CARMIGNAC PORTFOLIO should be subject of FATCA taxation.
Bank holidays: our funds follow the French calendar (Appendix B)
More funds details in our prospectus on the following links: http://www.carmignac.com/en/permalinks or http://www.carmignac.com/es/enlaces- permanentes or https://carmignac.openfpp.com
FCP*: “Fonds communs de Placement” – French Mutual funds are open-ended collective investment funds based that are neither trust or company law based
4
We remind you that Carmignac Funds are not registered in North and South America. The Funds have not been registered in accordance with the US
Securities Act of 1933. They may therefore not be offered or sold, either directly or indirectly, on behalf of or for the benefit of a US person, as defined
in Regulation S and by the US Foreign Account Tax Compliance Act (FATCA). OPERATIONAL GUIDE / LATAM - US OFFSHORE / 5
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Information about trading
Transfers are performed by our Transfer Agent CACEIS Bank Luxembourg.
Transfers in amount are not allowed. Only transfers in units may be done via:
- CLEARSTREAM / VESTIMA: CARMIGNAC code is 11193 for SICAV CARMIGNAC PORTFOLIO and 10007 for FCP
- CACEIS Bank Luxembourg: between two registrar accounts
The Standard Settlement Instructions are available in different currencies. However, please note that the client will pay and receive the cash in the same currency than the fund’s currency.
Switches within the same Lux Portfolio SICAV structure are allowed.
Dividends - Distribution information
FCP*: “Fonds communs de Placement” – French Mutual funds are open-ended collective investment funds based
that are neither trust or company law based
SHARECLASS: Ydis – Yearly distribution Qdis – Quarterly Distribution Mdis – Monthly Distribution
GROSS or NET Dividend: GROSS GROSS GROSS
Distribution Frequency : Annually Annually Annually
Accounting End Date(s) e.g. 31 December, 30 June:
31 December 31 December 31 December
What is the Final or Annual Accounting End Date:
Annual Annual Annual
Record date: 29 April 30th Jan / 29th Apr / 30th July / 30th Oct
Each one day before the last business day of the month
Ex-Dividend (XD) Date(s) e.g. 1 January, 1 July:
30 April 31st Jan / 30th Apr / 31st July / 31st Oct
Each last business day of the month
Pay Date(s) +/or Income Accumulation date(s) e.g. 28 February, 31 August:
4 business days after XD date 4 business days after XD date 4 business days after XD date
We remind you that Carmignac Funds are not registered in North and South America. The Funds have not been registered in accordance with the US
Securities Act of 1933. They may therefore not be offered or sold, either directly or indirectly, on behalf of or for the benefit of a US person, as defined
in Regulation S and by the US Foreign Account Tax Compliance Act (FATCA). OPERATIONAL GUIDE / LATAM - US OFFSHORE / 6
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ACCOUNT OPENING
[email protected] / Ph. +352 4767 2001
Yann GINTHER – Business Development Officer [email protected] / Ph. +352 46 70 60 22
DEALING, SETTLEMENT, RECONCILIATION
[email protected] / Ph. +352 4767 6215
TRANSFER, RE-REGISTRATION
[email protected] / Ph. +352 4767 5793
DISTRIBUTION DIVIDEND
[email protected] / Ph. +352 4767 6215
Charlotte SAMSON – Senior Account Manager US Offshore & LATAM [email protected] / Ph. +34 91 436 17 35
PRICING
[email protected] / Ph. +352 26 57 46 24
Charlotte SAMSON – Senior Account Manager US Offshore & LATAM [email protected] / Ph. +34 91 436 17 35
REBATES
Julien LEOPOLDES – Account Manager Luxembourg [email protected] / Ph. +352 46 70 60 45
Charlotte SAMSON – Senior Account Manager US Offshore & LATAM [email protected] / Ph. +34 91 436 17 35
FUNDS EVENTS
Charlotte SAMSON – Senior Account Manager US Offshore & LATAM [email protected] / Ph. +34 91 436 17 35
4
We remind you that Carmignac Funds are not registered in North and South America. The Funds have not been registered in accordance with the US
Securities Act of 1933. They may therefore not be offered or sold, either directly or indirectly, on behalf of or for the benefit of a US person, as defined
in Regulation S and by the US Foreign Account Tax Compliance Act (FATCA). OPERATIONAL GUIDE / LATAM - US OFFSHORE / 7
REB
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Rebates information
The calculation of fees is performed by CARMIGNAC on a Quarterly basis and the Rebates Statement is sent to the Distributor from the 15th Business Day following the end of the Quarter.
Our calculation is based on the Client’s positions at each end of month:
Upon receipt of an invoice signed by the Distributor, CARMIGNAC shall pay the Distributor the fees due within ten Business Days. The rebates payment will be made in the same currency than the fund’s currency.
In the event that the rebates amount doesn’t reach EUR 1.000 per quarter, the fees will be paid annually.
In the event that proof of assets (bank certificates* in case of multiple depositary banks) is not provided by the Distributor, CARMIGNAC will exclude the positions from the calculation.
Please note that no rebates will be paid in F shares.
Calculation Formula: DFfm = [(NUfdm x NAVfdm) + (NUfdm-1)] / 2 x (DFRfdm/12) DFfm: Distribution fee amount for the Fund (f) for the month (m) NUfdm: Number of units of the Fund (f) held on the last business day (d) of the month (m) NAVfdm: Net Asset Value of the Fund (f) published on the last business day (d) of the month (m) NUfdm-1: Number of units of the Fund (f) held on the last business day (d) of the month (m-1) NAVfdm-1: Net Asset Value of the Fund (f) published on the last business day (d) of the month (m-1) DFRfdm: Distribution fee rate applicable to the Fund (f) on the last business day (d) of the month (m)
A bank certificate is an official signed document sent by the depositary
bank on a Quarterly basis to prove the assets. This document must
comply with the following elements:
- Be drawn up on paper bearing the Depositarian’s header
- Be signed with official signatures
- Mention the relevant calculation period with the detailed number of shares
for each Fund (Isin or Cusip) at each end of month
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 8
CONTACTS
CARMIGNAC Client Service:
David TAVARES Head of US Offshore & LATAM Ph.: +34 91 436 17 29 Email: [email protected]
Charlotte SAMSON Senior Account Manager US Offshore & LATAM Ph.: +34 91 436 17 35 Email: [email protected]
CARMIGNAC Operational Support:
Angelo DUMENIL Head of Middle Office Distribution Support Ph.: +352 46 70 60 27 Email: [email protected]
Yann GINTHER Business Development Officer – M.O.D.S. Ph.: +352 46 70 60 22 Email: [email protected]
Julien LEOPOLDES Account Manager Luxembourg – M.O.D.S. Ph.: +352 46 70 60 45 Email: [email protected]
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 9
Funds Cur r e nc y S ha r e c l a ss I S I N CUS I P
Cut - Of f
CACEI S Lux
CET
M i ni mum of
S ubsc r i pt i on
( S ha r e / Amount )
M i ni mum of
subse que nt
S ubsc r i pt i on
M gt f e e s
c ha r ge d
C armignac Port f o lio C ap it al Plus EURA EUR acc LU0336084032 L1455N146 6:00 PM 1 share 1 share 1,00%
C armignac Port f o lio C ap it al Plus US DA USD acc Hdg LU0807689749 L15064113 6:00 PM 1 share 1 share 1,00%
C armignac Port f o lio C ap it al Plus EURA EUR Ydis LU0992631050 L1455N294 6:00 PM 1 share 1 share 1,00%
C armignac Port f o lio C ap it al Plus US DE USD Qdis Hdg LU0992631134 L1455N302 6:00 PM 1 share 1 share 1,40%
C armignac Port f o lio C ap it al Plus EURF EUR acc LU0992631217 L1455N310 6:00 PM 1 share 1 share 0,55%
C armignac Port f o lio C ap it al Plus US D F USD acc Hdg LU0992631480 L1455N336 6:00 PM 1 share 1 share 0,55%
C armignac Port f o lio C ommodit ies EURA EUR acc LU0164455502 L1455N112 6:00 PM 1 share 1 share 1,50%
C armignac Port f o lio C ommodit ies EURE EUR acc LU0705572823 L1455N286 6:00 PM 1 share 1 share 2,25%
C armignac Port f o lio C ommodit ies US DA USD acc Hdg LU0807690754 L15065110 6:00 PM 1 share 1 share 1,50%
C armignac Port f o lio C ommodit ies US DE USD acc Hdg LU0992629153 L15065128 6:00 PM 1 share 1 share 2,25%
C armignac Port f o lio C ommodit ies EURF EUR acc LU0992629237 L15065136 6:00 PM 1 share 1 share 0,85%
C armignac Port f o lio C ommodit ies US D F USD acc Hdg LU0992629583 L15065169 6:00 PM 1 share 1 share 0,85%
C armignac Emergent s EURA EUR acc FR0010149302 F1386N121 4:30 PM / 5:00 PM 1 share 1 share 1,50%
C armignac Emergent s EURE EUR acc FR0011147446 F1386N139 4:30 PM / 5:00 PM 1 share 1 share 2,25%
C armignac Emergent s EURA EUR Ydis FR0011269349 F14524106 4:30 PM / 5:00 PM 1'000 EUR 1'000 EUR 1,50%
C armignac Emergent s US DA USD acc Hdg FR0011269364 F14524114 4:30 PM / 5:00 PM 1'000 USD 1'000 USD 1,50%
C armignac Port f o lio Emergent s US DE USD acc Hdg LU0992627025 L1455N393 3:00 PM 1 share 1 share 2,25%
C armignac Port f o lio Emergent s EURF EUR acc LU0992626480 L1455N344 3:00 PM 1 share 1 share 0,85%
C armignac Port f o lio Emergent s US D F USD acc Hdg LU0992626993 L1455N385 3:00 PM 1 share 1 share 0,85%
C armignac Port f o lio Emerg ing D iscovery EURA EUR acc LU0336083810 L1455N153 6:00 PM 1 share 1 share 2,00%
C armignac Port f o lio Emerg ing D iscovery US DA USD acc Hdg LU0807689582 L15067116 6:00 PM 1 share 1 share 2,00%
C armignac Port f o lio Emerg ing D iscovery US DE USD acc Hdg LU0992629666 L15067124 6:00 PM 1 share 1 share 2,50%
C armignac Port f o lio Emerg ing D iscovery EURF EUR acc LU0992629740 L15067132 6:00 PM 1 share 1 share 1,00%
C armignac Port f o lio Emerg ing D iscovery US D F USD acc Hdg LU0992630169 L15067165 6:00 PM 1 share 1 share 1,00%
C armignac Port f o lio Emerg ing Pat r imo ine EURA EUR acc LU0592698954 L1455N278 6:00 PM 1 share 1 share 1,50%
C armignac Port f o lio Emerg ing Pat r imo ine EURE EUR acc LU0592699093 L1455N260 6:00 PM 1 share 1 share 2,25%
C armignac Port f o lio Emerg ing Pat r imo ine EURA EUR Ydis LU0807690911 L15066118 6:00 PM 1 share 1 share 1,50%
C armignac Port f o lio Emerg ing Pat r imo ine US DA USD acc Hdg LU0592699259 L1455N245 6:00 PM 1 share 1 share 1,50%
C armignac Port f o lio Emerg ing Pat r imo ine US DE USD acc Hdg LU0992631563 L1455N401 6:00 PM 1 share 1 share 2,25%
C armignac Port f o lio Emerg ing Pat r imo ine EURF EUR acc LU0992631647 L1455N419 6:00 PM 1 share 1 share 0,85%
C armignac Port f o lio Emerg ing Pat r imo ine US D F USD acc Hdg LU0992632025 L1455N443 6:00 PM 1 share 1 share 0,85%
C armignac Euro - Pat r imo ine EURA EUR acc FR0010149179 F1451W139 4:30 PM / 5:00 PM 1 share 1 share 1,50%
C armignac Euro - Pat r imo ine EURA EUR Ydis FR0011269406 F14525137 4:30 PM / 5:00 PM 1'000 EUR 1'000 EUR 1,50%
C armignac Euro - Pat r imo ine US DA USD acc Hdg FR0011269158 F14525103 4:30 PM / 5:00 PM 1'000 USD 1'000 USD 1,50%
C armignac Port f o lio Euro - Pat r imo ine US DF USD acc Hdg LU0992627538 L1455N526 3:00 PM 1 share 1 share 0,85%
C armignac Port f o lio Euro - Pat r imo ine EUR F EUR acc LU0992627298 L1455N492 3:00 PM 1 share 1 share 0,85%
C armignac Euro - Ent repreneurs EURA EUR acc FR0010149112 F1451W113 4:30 PM / 5:00 PM 1 share 1 share 1,50%
C armignac Port f o lio Euro - Ent repreneurs US DF USD acc Hdg LU0992625755 L1455N484 3:00 PM 1 share 1 share 0,85%
C armignac Port f o lio Euro - Ent repreneurs EUR F EUR acc LU0992625326 L1455N450 3:00 PM 1 share 1 share 0,85%
C armignac Port f o lio Global B ond EURA EUR acc LU0336083497 L1455N161 6:00 PM 1 share 1 share 1,00%
C armignac Port f o lio Global B ond EURA EUR Ydis LU0807690168 L15068122 6:00 PM 1 share 1 share 1,00%
C armignac Port f o lio Global B ond US DA USD acc Hdg LU0807690085 L15068114 6:00 PM 1 share 1 share 1,00%
C armignac Port f o lio Global B ond US DE USD acc Hdg LU0992630243 L1455N534 6:00 PM 1 share 1 share 1,40%
C armignac Port f o lio Global B ond EURF EUR acc LU0992630599 L1455N559 6:00 PM 1 share 1 share 0,60%
C armignac Port f o lio Global B ond US DF USD acc Hdg LU0992630912 L1455N583 6:00 PM 1 share 1 share 0,60%
C armignac Port f o lio Global B ond US D E USD Qdis Hdg LU0992630326 L1455N542 6:00 PM 1 share 1 share 1,40%
APPENDIX A: LIST OF FUNDS
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 10
FundsCur r e nc
yS ha r e c l a ss I S I N CUS I P
Cut - Of f
CACEI S Lux
CET
M i ni mum of
S ubsc r i pt i on
( S ha r e / Amount
)
M i ni mum of
subse que nt
S ubsc r i pt i on
M gt f e e s
c ha r ge d
C armignac Port f o lio Grande Europe EURA EUR acc LU0099161993 L1455N104 6:00 PM 1 share 1 share 1,50%
C armignac Port f o lio Grande Europe EURE EUR acc LU0294249692 L1455N138 6:00 PM 1 share 1 share 2,25%
C armignac Port f o lio Grande Europe EURA EUR Ydis LU0807689152 L15069120 6:00 PM 1 share 1 share 1,50%
C armignac Port f o lio Grande Europe US DA USD acc Hdg LU0807689079 L15069112 6:00 PM 1 share 1 share 1,50%
C armignac Port f o lio Grande Europe US DE USD acc Hdg LU0992628775 L15069146 6:00 PM 1 share 1 share 2,25%
C armignac Port f o lio Grande Europe EURF EUR acc LU0992628858 L15069153 6:00 PM 1 share 1 share 0,85%
C armignac Port f o lio Grande Europe US D F USD acc Hdg LU0992629070 L15069179 6:00 PM 1 share 1 share 0,85%
C armignac Invest issement EURA EUR acc FR0010148981 F13871128 4:30 PM / 5:00 PM 1 share 0,1 share 1,50%
C armignac Invest issement EURE EUR acc FR0010312660 F13871136 4:30 PM / 5:00 PM 1 share 1 share 2,25%
C armignac Invest issement EURA EUR Ydis FR0011269182 F1R51H178 4:30 PM / 5:00 PM 1'000 EUR 1'000 EUR 1,50%
C armignac Invest issement US DA USD acc Hdg FR0011269554 F1R51H228 4:30 PM / 5:00 PM 1'000 USD 1'000 USD 1,50%
C armignac Port f o lio Invest issement US DE USD acc Hdg LU0992626308 L1455N641 3:00 PM 1 share 1 share 2,25%
C armignac Port f o lio Invest issement EURF EUR acc LU0992625839 L1455N591 3:00 PM 1 share 1 share 0,85%
C armignac Port f o lio Invest issement US D F USD acc Hdg LU0992626217 L1455N633 3:00 PM 1 share 1 share 0,85%
C armignac Port f o lio Invest issement Lat it ude EURA EUR acc LU1046327000 L1455N781 3:00 PM 1 share 1 share 1,50%
C armignac Port f o lio Invest issement Lat it ude EURE EUR acc LU1046327182 L1455N799 3:00 PM 1 share 1 share 2,25%
C armignac Port f o lio Invest issement Lat it ude US DE USD acc Hdg LU1046327265 L1455N807 3:00 PM 1 share 1 share 2,25%
C armignac Port f o lio Invest issement Lat it ude EUR F EUR acc LU1046327349 L1455N815 3:00 PM 1 share 1 share 0,85%
C armignac Pat r imo ine EURA EUR acc FR0010135103 F1451V107 4:30 PM / 5:00 PM 1 share 0,1 share 1,50%
C armignac Pat r imo ine EURE EUR acc FR0010306142 F1451V115 4:30 PM / 5:00 PM 1 share 1 share 2,00%
C armignac Pat r imo ine EURA EUR Ydis FR0011269588 F1R51H244 4:30 PM / 5:00 PM 1'000 EUR 1'000 EUR 1,50%
C armignac Pat r imo ine US DA USD acc Hdg FR0011269067 F1R51H111 4:30 PM / 5:00 PM 1'000 USD 1'000 USD 1,50%
C armignac Port f o lio Pat r imo ine US DE USD acc Hdg LU0992628429 L1455N724 3:00 PM 1 share 1 share 2,00%
C armignac Port f o lio Pat r imo ine EURF EUR acc LU0992627611 L1455N658 3:00 PM 1 share 1 share 0,85%
C armignac Port f o lio Pat r imo ine US DF USD acc Hdg LU0992628346 L1455N716 3:00 PM 1 share 1 share 0,85%
C armignac Port f o lio Pat r imo ine US DE USD Qdis Hdg LU0992628692 L1455N732 3:00 PM 1 share 1 share 2,00%
C armignac Port f o lio Pat r imo ine EURA EUR Mdis LU1163533422 L1504W139 3:00 PM 1 share 1 share 1,50%
C armignac Port f o lio Pat r imo ine EURE EUR Mdis LU1163533349 L1504W121 3:00 PM 1 share 1 share 2,00%
C armignac Port f o lio Pat r imo ine EUR F EUR Mdis LU1163533778 L1504W154 3:00 PM 1 share 1 share 0,85%
C armignac Pro f i l R éact if 10 0 EURA EUR acc FR0010149211 F1386E121 3:30 PM 1 share 1 share 1,00%
C armignac Pro f i l R éact if 50 EURA EUR acc FR0010149203 F1387D122 3:30 PM 1 share 1 share 1,00%
C armignac Pro f i l R éact if 75 EUR A EUR acc FR0010148999 F1451Y101 3:30 PM 1 share 1 share 1,00%
C armignac Sécurit é EURA EUR acc FR0010149120 F1387S129 4:30 PM / 5:00 PM 1 share 0,1 share 1,00%
C armignac Sécurit é EURA EUR Ydis FR0011269083 F1R51H137 4:30 PM / 5:00 PM 1'000 EUR 1'000 EUR 1,00%
C armignac Sécurit é US DA USD acc Hdg FR0011269109 F1R51H145 4:30 PM / 5:00 PM 1'000 USD 1'000 USD 1,00%
C armignac Port f o lio Sécurit é EURF EUR acc LU0992624949 L1455N740 3:00 PM 1 share 1 share 0,55%
C armignac Port f o lio Sécurit é US D F USD acc Hdg LU0992625243 L1455N773 3:00 PM 1 share 1 share 0,55%
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 11
APPENDIX B: TRADING CALENDAR 2015
CALENDAR 2015 BANK HOLIDAYS AT CARMIGNAC
BANK HOLIDAYS DATES
New Year’s day 1st January 2015
Good Friday 03th April 2015
Easter Monday 06th April 2015
Labour Day 1st May 2015
Victory Day 1945 8th May 2015
Ascension Day 14th May 2015
Whit Monday 25th May 2015
French National Day 14th July 2015
Assumption Day 15th August 2015
All Saints’ Day 1st November 2015
Armistice 1918 11th November 2015
Christmas 25th December 2015
Boxing Day 26th December 2015
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 12
SUBSCRIPTION FORM
Fund Name :
This form is at the exclusive use of investors subscribing to the above investment fund (the “Fund”)
through CACEIS Bank Luxembourg acting as the duly appointed registrar and transfer agent of the
Fund (herein after referred to as “CACEIS BL”).
This subscription form must be submitted or sent by mail without modifications to CACEIS BL , Fund
Distribution Department at ,5, allée Scheffer L-2520 Luxembourg,.
I Investment Information
This subscription is subject to the provisions set out in the Fund’s prospectus as well as Luxembourg applicable laws and regulations. Orders received after the cut-off time specified in the prospectus will be processed on the following NAV calculation date.
Incomplete and illegible orders or orders with missing information will be accepted only after such
missing or illegible information is submitted to the CACEIS BL. No monies will be transferred to the
Fund unless the order is accepted.
II Subscription Information
a) Investment details (Fund form) :
Fund Name :
Funds________________________________________________________________________
Fund Class Name ISIN Code Number of
shares/Units
Or Subscription
amount
Payment
currency
______________,____ ______________,____
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 13
______________,____ ______________,____
______________,____ ______________,____
______________,____ ______________,____
Please use dots to separate thousands and commas to separate decimals.
If an investor wishes to make a subscription in a currency other than the sub-fund currency, such
Investor shall bear all related currency conversion costs
b) Subscription payment :
Details of accounts to which subscription payments are to be transferred (the transfer description
should include the name and reference of the transferring entity, the name of the fund and, if
applicable, the name of sub-fund and category):
Subscription in EUR Subscription in USD Subscription in JPY Subscription in CHF Subscription in GBP
TARGET II JP Morgan Chase Bank of Tokyo
Mitsubishi UBS AG
HSBC Bank Plc
Intl.
Swift : BSUILULL Swift : CHASUS33 Swift :
BOTKJPJT
Swift :
UBSWCHZH80A
Swift :
MIDLGB22
Acc. N°
796706786
IFO : BSUILULL
Acc. N°
653-0418285
IFO : BSUILULL
Acc. N°
0230000006073705
0000Z
IFO : BSUILULL
Acc. N°
35210915
IFO : BSUILULL
Please contact us for any other currencies.
Details of the bank that will effectuate the transfer:
.
Name of Bank
Account n° IBAN Code
BIC Code
Settlement via Clearstream / Euroclear
Account
Account owner
c) Redemption and dividend payment :
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 14
Details of the bank account to which redemption and dividend payments are to be transferred:
Name of Bank
Account n° IBAN Code
BIC Code
Settlement via Clearstream / Euroclear
Account
Address
Account
name
Account owner
Currency
III Information concerning the prevention of money-laundering and terrorism financing.
As required by the prospectus of the Fund and the applicable laws of Luxembourg, particularly as
concerns the prevention of money laundering during subscription, the subscription form must be
accompanied by documents that will allow CACEIS BL as the Fund’s registrar and transfer agent to
identify the subscriber and, if applicable, all third-party beneficial owner of the investment.
The following identification documents are required upon the investor’s initial subscription in the Fund.
Subsequent subscriptions of shares/units within the Fund shall not require the subscriber to provide
CACEIS BL with the identification documents again, to the extent that the investor’s situation remains
unchanged from initial or previous subscriptions.
Notwithstanding the foregoing, the subscriber may be requested to provide additional or updated
identification documents from time to time pursuant to on-going investors due diligence requirements
under relevant laws and regulations conducted by the Fund and/or CACEIS BL.
In case of delay or failure by an investor to provide the documents required, the application for
subscription may not be accepted and in case of redemption request, the payment of the redemption
proceeds and/or dividends may not be processed. Neither the Fund nor CACEIS BL shall have any
liability for delays or failure to process deals as a result of the investor providing no or only incomplete
documentation.
On this basis, the subscriber is requested to provide CACEIS BL with the following documentation:
a) Individual subscribers:
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 15
- a certified copy of a valid identification document including a specimen signature of the holder (identity card, passport, driving license with photo, or any other appropriate document) for the subscriber and, if applicable, for all third-party beneficiaries.
b) Corporate entities subscribers:
- a certified copy of (1) the company’s Articles of Incorporation, (2) the extract from the register of
companies or any equivalent document in the jurisdiction of the domicile of the entity, (3) official list of the authorized signatures and the powers of the signatories, (4) bank references, (5) the latest audited financial statements, (6) certified copies of the identification documents of the company proxies who signed the application form. For unlisted companies or those which are not a bank or a regulated financial institution from a country subject to anti-money laundering or anti-terrorism financing measures equivalent to those in force in Luxembourg, shareholders who hold 25% or more of the company capital or benefit of 25% or more of the property of the legal arrangement (primary economic beneficiaries) must be identified in accordance with the specifications provided in the previous paragraph.
IV Information concerning Subscribers
For multiple choice sections, please tick the appropriate box
a) Individuals :
First subscriber
Subscriber acting on its own
behalf
Subscriber acting on behalf of third
parties
Last name, First
name(s)
Profession *
Economic
sector
If your activity falls within one of the following sectors, please tick the appropriate
box :
Casino, games Religious financial institution
Charity Diamond merchant, lapidary
Real estate agency Art dealership
Date of birth Place of birth
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 16
Source of
invested capital
Savings Property income Inheritance Game winnings
Other details :
__________________________________________________________________
____
Political
mandate or
public office
No Yes details :
______________________________________________________________
Tax identification
number
Identificatio
n
ID card
Passport
N°
Country of delivery
* If retired, please specify your previous profession / activity; if director, please specify the name of
the entity.
Second subscriber (if applicable) Joint account : AND □ AND/OR □
Subscriber acting on its own
behalf
Subscriber acting on behalf of third
parties
Last name, First
name(s)
Profession *
Economic
sector
If your activity falls within one of the following sectors, please tick the appropriate
box :
Casino, games Religious financial institution
Charity Diamond merchant, lapidary
Real estate agency Art dealership
Date of birth Place of birth
Source of
invested capital
Savings Property income Inheritance Game winnings
Other details :
__________________________________________________________________
____
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 17
Political
mandate or
public office
No Yes details :
______________________________________________________________
Tax identification
number
Identificatio
n
ID card
Passport
N°
Country of delivery
* If retired, please specify your previous profession / activity; if director, please specify the name of
the entity.
Third subscriber (if applicable) Joint account : AND □ AND/OR □
Subscriber acting on its own
behalf
Subscriber acting on behalf of third
parties
Last name, First
name(s)
Profession *
Economic
sector
If your activity falls within one of the following sectors, please tick the appropriate
box :
Casino, games Religious financial institution
Charity Diamond merchant, lapidary
Real estate agency Art dealership
Date of birth Place of birth
Source of
invested capital
Savings Property income Inheritance Game winnings
Other details :
__________________________________________________________________
____
Political
mandate or
public office
No Yes details :
______________________________________________________________
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 18
Tax identification
number
Identificatio
n
ID card
Passport
N°
Country of delivery
* If retired, please specify your previous profession / activity; if director, please specify the name of the
entity.
b) Corporate entities :
Subscription on behalf of any corporate entity (or an alternative entity such as a trust) must be signed
by an individual duly authorized to act in that capacity. If the subscription form is signed on the basis
of authorization, this authorization or a duly certified copy thereof must be enclosed with the
subscription form (trust deed, management authorization).
Subscriber acting on its own
behalf
Subscriber acting on behalf of third
parties
Company name
Company objects
Economic sector
If your activity falls within one of the following sectors, please tick the
appropriate box :
Casino, games Religious financial institution
Charity Diamond merchant, lapidary
Real estate agency Art dealership
Date of incorporation Legal form
Articles of incorporation (if
applicable)
Place of listing (if
applicable)
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 19
Signatory 1 (Last name,
first name)
Capacity of signatory
Identificatio
n
ID card
Passport
N°
Country of delivery
If applicable
Signatory 2 (Last name,
first name)
Capacity of signatory
Identificatio
n
ID card
Passport
N°
Country of delivery
Companies listed on official stock exchanges and professionals from the financial sector acting on
behalf of third parties and having their residence in a Luxembourg equivalent country in terms of anti-
money laundering and fight against the financing of terrorism legislation can skip the following section
and go to c).
Unlisted corporate entities and alternative entities acting on behalf of third parties must disclose the
identities of their final beneficial owners and the following identification information concerning such
beneficiary/beneficiaries:
Final beneficial owner Representation (each beneficiary must complete this form)
Last name, First
name(s)
Profession
Economic
sector
If your activity falls within one of the following sectors, please tick the appropriate
box :
Casino, games Religious financial institution
Charity Diamond merchant, lapidary
Real estate agency Art dealership
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 20
Date of birth Place of birth
Source of
invested capital
Savings Property income Inheritance Game winnings
Other details :
__________________________________________________________________
____
Political
mandate or
public office
No Yes details :
______________________________________________________________
Tax identification
number
Identificatio
n
ID card
Passport
N°
Country of delivery
Last name, First
name(s)
Profession
Economic
sector
If your activity falls within one of the following sectors, please tick the appropriate
box :
Casino, games Religious financial institution
Charity Diamond merchant, lapidary
Real estate agency Art dealership
Date of birth Place of birth
Source of
invested capital
Savings Property income Inheritance Game winnings
Other details :
__________________________________________________________________
____
Political
mandate or
public office
No Yes details :
______________________________________________________________
Tax identification
number
Identificatio
n
ID card
Passport
N°
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 21
Country of delivery
Last name, First
name(s)
Profession
Economic
sector
If your activity falls within one of the following sectors, please tick the appropriate
box :
Casino, games Religious financial institution
Charity Diamond merchant, lapidary
Real estate agency Art dealership
Date of birth Place of birth
Source of
invested capital
Savings Property income Inheritance Game winnings
Other details :
__________________________________________________________________
____
Political
mandate or
public office
No Yes details :
______________________________________________________________
Tax identification
number
Identificatio
n
ID card
Passport
N°
Country of delivery
c) Primary address:
P.O. Boxes are not permitted.
Address –
Street
ZIP code City
Country
Phone n° Fax
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 22
Do not send mail. Please leave it for collection
with :
d) Mailing address (if different from the primary address) :
Name
Address –
Street
ZIP code City
Country
Phone n° Fax
Do not send mail. Please leave it for collection
with :
VI. FOREIGN ACCOUNT TAX COMPLIANCE ACT (“FATCA”)1
On March 18, 2010, the United States of America enacted provisions commonly known as the Foreign Account Tax Compliant Act (FATCA). According to the FATCA Rules, FFIs, unless they can rely under ad-hoc lighter or exempted regimes, need to report to the IRS certain holdings by/ and payments made to a/ certain U.S. investors b/ certain U.S. controlled foreign entity investor, c/ non U.S. financial institution investors that do not comply with their obligations under FATCA and d/investors that are not able to document clearly their FATCA status. Moreover, any account that it is not properly documented may l have to suffer a 30% WHT. On March 24th 2014, Luxembourg and U.S. governments entered into a Model I IGA which aims to coordinate and facilitate the reporting obligations under FATCA with other U.S. reporting obligations of Luxembourg financial institutions. According to the IGA, Luxembourg FFIs will generally have to report to the Luxembourg tax authorities instead of directly to the IRS. Information will be communicated onward by the Luxembourg authorities to the IRS under the general information exchange provisions of the U.S. Luxembourg income tax treaty. In order to comply with its obligations, the Fund needs to gather from subscriber(s) a series of additional information and documents relating to subscriber(s) and potential beneficial owners. CACEIS BL, subject to the provisions of the transfer and registrar agency agreement, the Fund’s constitutive documents and prospectus/offering memorandum and any applicable laws may the right to: (i) Withhold the payment of any dividend or redemption proceeds to a Unitholder/Shareholder of the
Fund until the Fund holds sufficient information; (ii) Reject at its discretion any subscription for Units/Shares;
(iii) Compulsorily redeem at any time the Units held by Unitholder/Shareholders who are excluded from purchasing or holding Units/Shares; and
(iv) Decline to register the transfer of Units to any person who is excluded from purchasing or holding Units.
1 “FATCA” means the Foreign Account Tax Compliance Act such as enacted and adopted by the United States of America on March 18, 2010,
requiring US individuals to report their financial accounts held outside of the United States and foreign financial institutions to report to the
Internal Revenue Service about their US clients
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 23
(v) Take any additional measures authorized by the Fund’s constitutive documents and prospectus/offering memorandum.
(1) In this connection, the undersigned subscriber hereby declares, by ticking the correspondent
box that, in accordance with the principles of FATCA, the regulations relating to Information Reporting by Foreign Financial Institutions and Other Foreign Entities released by the IRS on 28
th January 2013
(the “FATCA Regulations”), all subsequently published FATCA announcements and as the case may be, the provisions of the intergovernmental agreement (IGA) entered between the country of residence of the subscriber and the United States of America to improve International Tax Compliance and with respect to FATCA, as well as relevant national Laws:
□ I AM / WE ARE US RESIDENT (For further details please refer to definition below2. For joint accounts, each
subscriber shall provide the relevant confirmation)
a) If I am / We are individuals :
We undertake to provide CACEIS BL a W9 Form duly filled and electronically signed in accordance
with the principles of the US Tax laws.
b) If I am / WE are Corporate entities:
□ If the Corporate entity is a company having its headquarter’ registered office in the U.S;
OR
□ If the Corporate entity is a company incorporated in the U.S. (U.S. corporation)
We undertake to provide CACEIS BL a W9 Form duly filled and electronically signed in accordance
with the principles of the US Tax laws.
□ I AM / WE ARE NOT US RESIDENT (For joint accounts, each subscriber shall provide the relevant confirmation)
a) If I am / We are individuals : (Please tick as much cases as relevant to your own situation)
2 Within the meaning of the U.S Internal Revenue Code and subject to any amendments to the legal definition which may be from time to time
adopted, shall qualify as “US Person” the following:
“US Person (Corporate entity): (i) any company incorporated in the US (US corporation); (ii) any US partnership (domestic partnership); (iii)
any trust if a US court is able to control the trust administration and one or several US persons are entitled to control any substantial decisions of
the trust; (iv) any states of the United States; (v) any company that has a bank account located in the US; (vi) any company having its
headquarter’s registered office in the US; (vii) any company having its headquarter registered office located outside the US but having one or
more US beneficial owner(s).
“US Person (Individual):
(i) US citizen ( including double or multiple nationality and US place of birth);
(ii) US residents or owner of a permanent residence title ("Green Card");
(iii) Individual having resided in the USA for a "substantial" period of time in the course of the year "N" and/or the two years before. Example of "substantial" period of time : (a) Residence in the US for more than 183 days in the course of the year N; (b) Stay of more than 31 days in the course of the year N in the US, if the total of a) this period, plus b) the number of days of residence in N-1 divided by 3, plus c) the number of days of residence in N-2 divided by six, exceeds 183 days;
(iv) If the issuer country of the ID or passport is a US territory; (v) If the primary address and/or the mailing address (as set forth in part IV d) above are within US territory; (vi) If at least one of the subscribers is a US Citizen (joint account, as set forth in part IV a) above.
In case of doubt with respect to their situation re FATCA Regulations, subscribers should consult with their legal or tax advisor.
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 24
(1)
□ If I / We have no US Bank account(s);
□ If my/our primary address and/or mailing address are not within the U.S. territory;
□ If I / We do not have a U.S. phone or fax number;
□ If I / We do not have a power of attorney or signatory authority granted to an individual having a primary address and/or mailing address within the U.S. territory
And (2)
□ I / We have not a US place of birth
If I / We ticked ALL the above boxes under (1) and (2), please note that you are not required to provide CACEIS BL with any further documentation for FATCA identification purposes;
If I / We did not tick any box in section (1) above, I / We undertake to provide CACEIS BL with a W8 BEN form duly filled and electronically signed in accordance with the principles of the US Tax laws;.
If I / We did certain but not all boxes in section (1) above, I / We undertake to provide CACEIS BL with a W8 BEN form duly filled and electronically signed in accordance with the principles of the US Tax laws;
If I / We did not tick the box in section (2) above, I / We undertake to provide CACEIS BL with a W8 BEN form duly filled and electronically signed in accordance with the principles of the US Tax laws as well as a US nationality renunciation certificate. Should you not be in the capacity to provide a US nationality renunciation certificate, then you need to provide a W9 Form.
For the completion of the foregoing US Tax forms, Individuals are herein requested to provide
CACEIS BL with an email address which shall allow CACEIS BL to provide you with an internet link :
Email: _______________________________________________________________
b) If I am / We are Corporate entities:
□ If the Corporate entity is a company NOT having its headquarter’ registered office in the U.S;
OR
□ If the Corporate entity is NOT a company incorporated in the U.S. (U.S. corporation)
We undertake to provide CACEIS BL a W8 BEN E Form duly filled and electronically signed in
accordance with the principles of the US Tax laws (Please note that you are requested to complete
the BO Section of the W8 BEN E Form, when applicable, by indicating the exact US tax payer
identification number (TIN).
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 25
(2) The undersigned subscriber further declares that:
2.1. Subscriber (corporate entities)
2.1.1. It has the following FATCA Status by ticking the appropriate box, adding its signature. Also, it
undertakes to take the necessary actions to prepare on the “Identity” system of Thomson Reuters and send immediately to the Bank the appropriate related US tax Form.
□ 1. Specified US Person
□ 2. US Person that is not a US Specified
□ 3. Luxembourg FFI or FFI in a partner jurisdiction
□ 4. Participating FFI (other than case 3)
□ 5. Deemed compliant FFI (other than case 3)
□ 6. Exempt beneficial owner (other than case 3)
□ 7. Active NFEE
□ 8.Passive NFEE
o non of which controlling persons are US citizens or resident; o which controlling persons are US citizens or resident
□ 9.Non-participating FFI (including a Luxembourg Financial Institution or other Partner Jurisdiction Financial Institution treated by the IRS as a non-participating Financial Institution)
2.1.2. The undersigned deposit holder confirms, by ticking the corresponding box that :
□ YES, it has registered on the IRS Portal its appropriate FATCA Status
□ please confirm GIIN Code: XXXXXX.XXXXX.XX.XXX □ NO, it has not registered on the IRS Portal due to its FATCA Status
□ It will register later and undertakes to send immediately to CACEIS BL its Fatca status and GIIN number
2.2. For Passive NFEE with a U.S. controller person:
Please provide U.S. Taxpayer identification number (SSN or ITIN) for the ultimate relevant beneficial
owner and a W9 Form duly filled and electronically signed in accordance with the principles of the
US Tax laws.
Under penalties of perjury, the subscriber herein declares that the information of Section IV of
this application form is, to the best of its knowledge and belief, true, correct and incomplete.
Subscriber undertakes to inform the Fund without delay of any change in his/her/its situation
that would make above declaration no longer valid.
V KEY INVESTOR INFORMATION (“KIID”)
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 26
The key investor information document (“KIID”) of the Fund relating to each share class, is made available to the investors according to the relevant provisions of the Luxembourg law of 17
th December 2010 relating to
Undertaking for Collective Investments, implementing Directive 2009/65/EC and its implementation acts (the “UCITS IV legislation”) on the following website: https:// ________________________________. Such website will be constantly updated as requested by the UCITS IV legislation and access will be continuously granted. In case there is any change in the availability of the KIID, the Fund or its duly authorized representative would contact you and provide you with alternative solutions. Please indicate the email address that shall be used for this purpose:
address
Final investors investing in the Fund for their own account should refer to Point 1 below. Financial intermediaries investing in the Fund for the account of investors, or advising investors to invest in the Fund, should refer to Point 2 below.
1. Final investors
The subscriber, investing in the Fund in their own account, hereby expressly accepts to be provided at all times with an up-to-date version of the KIID as published on the above website. However, the subscriber acknowledges being entitled to receive on request to the Fund and free of charge a hard copy of the KIID. The subscriber further confirms that he/she has taken knowledge of the up-to-date version of the KIID as published on the above mentioned website in good time before making the present subscription/switch in the Fund. Furthermore, the subscriber hereby undertakes that for the purposes of subsequent subscriptions and switches in any class of any sub-fund of the Fund, the subscriber will refer to the up-to-date version of the applicable KIID as published on the above mentioned website prior to any subscription of switch of shares in the Fund. The subscriber hereby acknowledges and agrees that any subscription/switch order made by the subscriber shall be considered as a written confirmation from the subscriber that the investor has taken knowledge of the up-to-date relevant KIID as published on the above mentioned website on the date such subscription/order was made.
2. Financial intermediaries
The financial intermediaries , investing in the Fund for the account of investors, or advising investors to invest in the Fund (the “Subscribers”), hereby confirm that they have provided to such investors or potential investors (the “Investors”) the up-to-date version of the KIID as published on the above mentioned website, before making the present subscription/switch in the Fund, that the Subscriber has, in general, fully complied with the provisions of the UCITS IV legislation governing the distribution of the KIID in respect of such subscription/switch and has kept evidence of compliance with such provisions.
In particular the Subscriber shall (inter alia):
- keep track of the KIID version provided to the Investor each time; - where the KIID is provided to Investors using a durable medium other than paper :
a. make sure that the provision of the KIID using such a durable medium is appropriate to the context according to the definition of the UCITS IV legislation;
b. make sure that the person to whom the KIID is to be provided, has been offered the choice between information on paper or in that other durable medium, and has specifically chosen that other medium;
- where the KIID is provided by means of a website and that information is not addressed personally to the Investor:
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 27
a. make sure that the provision of that information in that medium is appropriate to the context according to the definition of the UCITS IV legislation;
b. make sure that the Investor specifically consents to the provision of that information in that form; c. make sure that the Investor has been notified electronically of the address of the website, and
the place on the website where the information may be accessed; d. keep record of that specific consent and to forward a copy thereof to the Management
Company, upon request.
Furthermore, the Subscriber hereby undertakes that for the purposes of subsequent subscriptions
and switches in any class of any sub-fund of the Fund, the subscriber will provide the KIID to the
Investors prior to the first investment, the subscriber will, in general, fully and continuously comply
with the provisions of the UCITS IV legislation governing the distribution of the KIID, as may be
amended in the future, and will keep evidence of compliance with such provisions.
Eventually, the Subscriber hereby acknowledges and agrees that it is the Subscriber’s
responsibility to ensure that the sub-distributors or financial intermediaries possibly appointed by
the Subscriber fully comply with the above obligations and undertakes to take all measures in
order to fulfill this duty.
VI Additional information
The undersigned acknowledges having received and familiarized himself/herself with the most recent
valid Prospectus of the Fund and confirms that he/she is authorized to invest monies in compliance
with the prospectus. The Investor represents that the invested funds were not derived from illegal
activities as described under the laws of Luxembourg or the recommendations issued by the Financial
Action Task Force on Money Laundering (FATF).
The undersigned confirms that he/she holds no Political mandate or public office other than specified
in this subscription form, or that he/she does not act on behalf of third parties holding Political
mandates.
The undersigned certifies that the information provided in this subscription form is complete and
accurate and undertakes to update it if necessary.
For corporate entities and in the case of joint accounts, the original and authenticated list of
Signatories, giving their names, powers and original signatures, must be presented.
For orders sent by fax, the undersigned releases Caceis Bank Luxembourg from any liability for any
potential financial losses or fees incurred by one of the parties and resulting from the processing of
orders made in such form. No order will be accepted via e-mail.
Caceis Bank Luxembourg assumes no liability for failure to process an order as a result of incomplete
or inaccurate information presented by the subscriber in this form.
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 28
The investor is hereby informed that the rights to the Fund apply upon subscription.
The investor hereby acknowledges that the subscription is made subject to the provisions of the
Fund’s prospectus and the Fund’s Articles of Incorporation, particularly those involving the Cut-Off
time for receiving orders. Investors hereby acknowledge that “late trading” and “market timing”
practices are prohibited.
Companies listed on official stock exchanges and professionals from the financial sector and
acting on behalf of third parties having their residence in one of the FATF countries, need to
sign the Letter of Representation with CACEIS enclosed in appendix I.
For joint accounts all the account holders must sign the form. In such cases, written
instructions must also be provided.
If the Signatory is not the subscriber, please specify the capacity in which he/she is acting.
Subscribers who are individual residents in a Member State of the European Union (other
than Luxembourg) or in any Associated or Dependant Territories (for the time being British
Virgin Islands, Montserrat, Turks and Caicos Islands, Channel Islands, Isle of Man, Aruba and
the Netherlands Antilles), shall refer to Appendix II and complete it as appropriate.
Please add a handwritten note « Read and approved »
Signature 1 --------------------------------------------- Signature 2 --------------------
-------------------------
Date : _____________________ Date :______________________
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 29
Documents enclosed with the subscription form
Number of documents enclosed : ------------------------------------------------
Type of documents enclosed :
Bank account details :
Annual report :
Passport :
ID card :
(please note that identity cards must be valid and include a photo and a signature.)
Articles of incorporation :
List of authorized signatures :
Extract from the Register of Companies :
Final beneficial owner representation
Other, please specify :
__________________________________________________
For any information concerning your investment, please contact Caceis Bank Luxembourg, OPC
Registration Department, at the aforementioned address, by fax: (352) 47 67 70 59, phone (352) 47
67 23 33, or by e-mail at [email protected]
Please add a handwritten note « Read and approved »
Signature 1 --------------------------------------------- Signature 2 --------------------
-------------------------
Date : _____________________ Date :______________________
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 30
Appendix I: Letter of representation
Appendix II: Information requested in the context of the application of the European Directive on
Savings Income
Appendix I : Letter of Representation
Representation Letter
[to be printed on letterhead]
Dear Sirs,
[Name of company] is a
O Bank / Financial Institution
O Professional of the Financial Sector3 of the type …………………….
O Insurance Company
O Management Company
O Investment fund
O Pension fund
O Commercial company …………………………….
O Other ……………………………………………….
Incorporated, formed under the laws of ……………………………………………
3 In Luxembourg, PFS under the surveillance and regulation of the CSSF (Regulator) are categorised as follows : Investment firms : Investment advisers,
Brokers in financial instruments, Commission agents, Private Portfolio managers, Professionals acting for their own account, Market makers, Underwriters of
financial instruments, Distributors of units/shares in UCIs, Financial Intermediations firms, Investment firms operating an MTF in Luxembourg / PFS other
than investment firms : Registrar agents, Professional custodians of financial instruments, Operators of a regulated market authorized in Luxembourg,
Operators of payment of securities settlement systems, Persons carrying out foreign exchange cash operations, Debt recovery, Professionals carrying out
(securities) lending operations, Professionals providing fund transfer services, Mutual savings fund administrators, Managers of non-coordinated UCIs / PFS
performing a connected or complementary activity of the financial sector : Corporate Domiciliation agents, Investor communication agents, Financial
sector adminstrative agents, Primary IT systems operators of the financial sector, Secondary IT systems and communication networks operators of the
financial sector, Professionals providing company formation and management services.
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 31
Submitted, without limitation, to the following anti-money laundering and legislation
…………………………………………………………….(please insert name and reference of applicable
legislation)
O We act for our own account
O We act both for our own account and for the account of our customers
O We act solely for the account of our customers
As ……………………………………………..(Custodian, trustee, nominee, transfer agent, registrar, other
…)
We are not regulated by any authority / regulated by …………………………………………….
whose website / address is as follows ……………………………………………………………
……………………………………………………………………………………………………..
Our company
O is not quoted on any stock exchange and the following persons/entities hold more than 25% of its
Capital ……………………………………………………………………………………..
…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………
O is quoted on the ……………………………………………………Stock Exchange.
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 32
Dear Sirs,
We shall, from time to time, purchase, redeem and hold, Units / Shares of Luxembourg mutual funds (the Funds) for which you act as Depository Bank and/or Registrar Agent .
We hereby represent to you that :
1. We are aware of the terms of the Prospectus of the relevant Funds, we shall observe them and shall
not allow the purchase or holding of units or shares of the Funds by persons not authorized to purchase or hold them under the provisions of the Prospectus. More especially, we will not allow US persons4 to become investors in the fund.
2. We are located in a country that has issued legislation or regulations for the prevention of money
laundering and the fight against terrorism in line with :
O the recommendations of the Financial Action Task Force (FATF member country) ;
O the E .U. Council Directive 2005/60/CE of 26 October 2005;
O ……………………………………………………………… (Please insert name of any other applicable
ruling document).
In this respect, we have in place Know Your Customer policies; we perform transaction controls and
obtain:
a. Information about the formation of the company and copies of constitutional documents, a recent
trade register extract, the identity and authorised mandate of the directors, the bank account details and the identity and beneficial ownership of the Shareholders, if a corporate entity, or
b. the Shareholder's true name, address and date of birth if a natural person. c. Where an investor is registered as nominee, trustee or in any other fiduciary capacity for another
person, we have obtained appropriate documentary evidence to support the identification of the other person(s), which can be produced on request.
3. We confirm that we have checked and will monitor that none of the Investors introduced by us and
their underlying beneficiaries (if any) do not appear on the watch lists published by the European Community and/or the US Office for Foreign Assets Control.
4. We confirm that if one of the investors introduced by us is a person holding a legislative,
administrative or judicial office or a public function or a senior political figure or one of their family member or close associate we have used all reasonable efforts to verify that the source of funds are not the proceeds of corruption or other illegal activity;
5. We will retain documentary evidence of the identity of the introduced investor(s) for a period of at
least five years from the cessation of our relationship with them. Upon your request we will provide you with all the investor’s information and the copies of the documents you deem appropriate in your
4 For the definition of U.S. Person, please refer to section IV of this Application Form.
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 33
role of registrar agent, such as proof of the identity of the final beneficiaries of the shares/units of the fund, to the extent permitted by the laws to which we are submitted;
6. We will inform you immediately if we become aware of any introduced investor engaging in activities
which lead us to believe that such investor is involved in money laundering or terrorist activities to the extent permitted by our legislation ;
7. We shall not advertise for investors, solicit investors, nor offer or sell any of the Funds, unless we
may do so in compliance with the laws and regulations applicable in our country;
8. We confirm that we have stringent rules and policies in place that safeguard the funds’ investors
against late trading and market timing5 practices ;
9. We confirm that we have taken knowledge of, understood and agreed upon the provisions of section
V above relating to the KIID and that we have complied, and will continuously comply, with the undertakings and obligations applicable to us in this respect, which we are aware of and fully understand. We hereby acknowledge, agree and undertake that we will provide the Fund, the Management Company of the Fund or any of their duly authorized delegates, with all evidence of compliance with the above mentioned provisions, swiftly upon request.
The above representations shall be deemed reiterated at the time of any order placed with you and shall
continue throughout the period you will hold investment funds shares/units for us or our customers.
For and on behalf of [Name of Company]
-------------------------------------------- ----------------------------------
Name : Date
Title :
-------------------------------------------- ----------------------------------
Name : Date
Title :
5 Market Timing: Arbitrage technique by which an investor systematically buys and sells or converts units or shares of the
same UCI within a short lapse of time to take advantage of the time difference and/or the imperfections or deficiencies of the
UCI NAV calculation.
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 34
Appendix II : Information requested in the context of the application of the European Directive
on Savings Income
This form only concerns individuals and residual entities6 whose fiscal residence is
situated in a Member State of the European Union other than Luxembourg or in
certain Associated or Dependant Territories7
If you are an individual or residual entity whose fiscal residence is situated in a Member State of
the European Union or in an Associated or Dependant Territory, income derived from your
investment in the fund(s) may fall within the scope of the European Directive on Savings Income of
June, 3rd, 2003 (hereinafter "The EU Savings Directive"). The EU Savings Directive is applied by
Member States as from 1st July 2005 and has been implemented in Luxembourg by the law of June 21st,
2005 (the “Law”).
Under the EU Savings Directive, each Member State is required to provide to the tax authorities of
another Member State details of payments of interest or other similar income paid by a paying agent
within the meaning of the EU Savings Directive which is situated in a Member State to (i) an individual or
(ii) certain types of entities called "residual entities", which are resident(s) in that other Member State (or
certain dependant and associated territories).
For a transitional period, however, Austria, Belgium and Luxembourg are permitted to apply an optional
information reporting system whereby if a beneficial owner does not comply with one of two procedures
for information reporting, the Member State will levy a withholding tax on payments to such beneficial
owner.
The withholding tax system applied for a transitional period during which the rate of withholding will be of
15% from July 1, 2005 to June 30, 2008, 20% from July 1, 2008 to June 30, 2011 and 35% as from July
1, 2011. The transitional period commenced on July 1, 2005 and terminates at the end of the first fiscal
year following agreement by certain non-EU countries to the exchange of information relating to such
payments. See "European Union Directive on the Taxation of Savings Income in the Form of Interest
Payments (Council Directive 2003/48/EC)".
Also with effect from July 1, 2005, a number of non-EU countries (Switzerland, Andorra, Liechtenstein,
Monaco and San Marino), and certain dependent or associated territories of certain Member States,
agreed to adopt similar measures (either provision of information or transitional withholding) in relation to
payments made by a paying agent within its jurisdiction to, or collected by such a paying agent for, an
6 Any entity established in a Member State, the British Virgin Islands, Montserrat, Guernsey, Jersey, Isle of Man, Aruba, or Netherlands Antilles to which
interest is paid or for which interest is secured for the benefit of the beneficial owner and which:
(a) is not a legal person,
(b) is not subject to tax on its profits under the general arrangements for business taxation and
(c) is not / or has not opted to be treated as an UCITS under the Directive 85/611/CEE"
(d) do not benefit from another status conferred by their country of residence. 7 Associated and dependant Territories having entered into a reciprocity agreement with the EU : the British Virgin Islands, Montserrat, Guernsey, Jersey, Isle
of Man, Aruba, Netherlands Antilles
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 35
individual or a residual entity in a Member State. In addition, Luxembourg has entered into reciprocal
provision of information or transitional withholding arrangements with certain of those dependent or
associated territories (Jersey, Guernsey, Isle of Man, Montserrat, British Virgin Islands, Netherlands
Antilles and Aruba) in relation to payments made by a paying agent in Luxembourg to, or collected by
such a paying agent for, an individual or a residual entity resident in one of those territories.
According to the Directive, payments that the Fund’s paying agent could be required to make to you
since 1st July 2005 in respect of your current or future holdings in the Fund(s) (including dividends or the
price paid upon the redemption of your units in the Fund) may fall within the scope of the Directive,
subject to certain conditions to be met at the level of the Fund regarding its nature and
investment policy. For the sake of simplicity, all such payments subject to the Directive are referred to
in this notice as “Interests”.
To determine whether your investments in the fund will effectively fall within the scope of the Directive, you shall refer to the Fund prospectus and other public documentation of the Fund.
Should the Fund meet the required criteria and if you are EU resident or resident in any of the
Associated or Dependant Territories, we, in application of the Directive, might be bound to apply a
withholding tax on the income that we pay to you.
This withholding tax should be creditable in your country of residence against your effective local fiscal
charge as such income.
Investors that are concerned may however avoid this withholding tax by opting for either of the
following alternative regimes:
1. exchange of information: you may authorize us to inform the Luxembourg authorities about
the Interests that will be paid to you it being understood that the Luxembourg authorities will then send that information to your tax authorities;
2. certificate of disclosure8: you may send us a certificate of disclosure drawn up in your name by your tax authorities
3. Option for the UCITS status9 With regard to these options, we hereby draw your attention to a number of implications you may be willing to consider:
- If you were to choose to disclose and agree to exchange information on your investments, the regime will apply to all Interests that we pay to you in respect of any investments made by you or to be made in the future in any investment fund falling within the scope of the Directive.
- If you were to choose the certificate of disclosure regime, you would be assuming the responsibility to declare your investments to your tax authorities. Accordingly, one certificate per holding would have to be obtained and delivered to us. Each certificate need a limited applicability period and must be renewed by you every 3 years.
8 Only for private investors.
9 Only for residual entities
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 36
You can opt for either of these alternative treatments by ticking the appropriate box below. If you do not opt for either of these possibilities, the exchange of information or the certificate(s), the applicable withholding tax would be levied on the Interest that we pay to you. In this context, we hereby strongly advise you to further consult your tax adviser on the implication that your choice may have on your particular situation.
The Fund reserves the right to reject any application for Shares if the information provided by any
prospective investor does not meet the standards required by the Laws of 2005 as a result of the
Savings Tax Directive." Individuals:
Certificate Exchange of
information
□ □
I hereby formally authorize CACEIS BL to
inform the Luxembourg authorities about the
Interest it pays to me.
Signature 1 Signature 2
Residual entities:
UCITS Status Exchange of information
□ □
I hereby formally authorize CACEIS BL to
inform the Luxembourg authorities about the
Interest it pays to me.
Signature 1 Signature 2 Signature 1 Signature 2
Residual entities having opted to be treated as UCITS in the sense of the Directive shall enclose to the present form an ad-hoc certificate enacted by their local authorities.
OPERATIONAL GUIDE / LATAM - US OFFSHORE / 37
For further information as to the occurrence of the application of the Directive to your
instrument, you can contact our helpdesk by fax: (352) 47 67 70 59, phone (352) 47 67 23 33, or by
e-mail at [email protected]
Please note however that neither this letter nor the information that will be given by our
helpdesk is or will be meant to be exhaustive or to constitute legal or tax advice.