Orbita Capital Return Strategy Limited
Orbita Capital Return Strategy (Euro) Limited
Orbita Capital Return Strategy (
Orbita European Growth Strategy Limited
Orbita European Growth Strategy (Dollar) Limited
Orbita European Growth Strategy (
Orbita Global Opportunities Strategy Limited
Orbita Global Opportunities Strategy (Euro) Limited
Orbita Global Opportunities Strategy (
Orbita Asian Growth Strategy Limited
Orbita Asian Growth Strategy (Euro) Limited
Orbita Asian Growth Strategy (
Orbita North American Growth Strategy Limited
Orbita North American Growth Strategy (Euro) Limited
Orbita North American Growth Strategy (
Orbita North American Growth Strategy (
Novus Natural Resources Strategy Limited
Novus Natural Resources Strategy (Euro) Limited
Novus Natural Resources Strategy (
Novus Global Emerging Markets Strategy Limited
Novus Global Emerging Markets Strategy (Euro) Limited
Novus Global Emerging Markets Strategy (
Novus Global Credit Opportunities Strategy Limited
Novus Global Credit Opportunities Strategy (Euro) Limited
Novus Global Credit Opportunities Strategy (
Novus Global Special Situations Strategy Limited
Novus Global Special Situations Strategy (Euro) Limited
Novus Global Special Situations Strategy (
Orbita Universal Strategies Limited
Aberdeen Investment Strategies Limited
(together the "Companies")
Further to the supplemental offering memoranda dated 17 February 2010, the boards of directors of the Companies have revised the Companies' offering memoranda and wish to announce the following:
1 Investment Policy
The Companies follow a 'multi-manager' investment
approach. The Investment Manager allocates the assets of the Companies among a
diversified group of Sub-Advisers. The Companies' assets are invested by the
Sub-Advisers through Investment Vehicles.
In addition, assets of the Companies may be invested
directly by a selected Sub-Adviser through an Investment Vehicle established as
subsidiary entities of the Companies. Currently it is not intended that the
Companies' assets be invested in such manner but the Directors reserve the right
to do so in the future.
There are no restrictions on the type of instruments
or type of markets in which Sub-Advisers may invest or the investment techniques
which may be used.
2 Manager
Following the sale of part of the asset management business of The Royal Bank of Scotland Group Plc to Aberdeen Asset Management PLC (the "Transaction"), RBS Asset Management (Cayman) Limited is now a wholly owned subsidiary of Aberdeen Asset Management PLC. Consequently the name of RBS Asset Management (Cayman) Limited was changed to Aberdeen Asset Management Cayman Limited.
As of 24 May 2010, the appointment of Aberdeen Asset Management Cayman Limited as Manager of the Companies has been approved by the Companies pursuant to the terms of the Management Agreement entered into between the Companies and Aberdeen Asset Management Cayman Limited.
The Manager is responsible for, among other things, selecting and supervising the Investment Manager, advising the Companies on the selection, appointment, supervision, removal or replacement of any service provider to the Companies and providing to the Companies such periodic reports of the performance of the Companies and the Sub-Advisers as shall be reasonably required by the Companies from time to time.
The Manager, with advice from the Investment Manager, is also responsible for the hedging strategy of the Companies and has appointed the Investment Manager to implement this strategy.
As at 31 March 2010, the Manager had assets under management of approximately US$6 billion.
3 Investment Manager
As of 24 May 2010, the appointment of Aberdeen Asset Managers Limited as Investment Manager of the Companies has been approved by the Companies pursuant to the terms of the Investment Management Agreement entered into between Aberdeen Asset Management Cayman Limited and Aberdeen Asset Managers Limited.
The Investment Manager is responsible for, among other things, seeking out and evaluating investment opportunities in accordance with the investment objectives and policies of the Companies, selecting and monitoring the Sub-Advisers to be retained by the Company, the allocation of assets, and other functions to advise and assist the Manager to perform its management functions on behalf of the Companies.
The Investment Manager is also responsible for implementing the Companies' hedging strategy and has discretion to enter into foreign exchange hedging transactions on behalf of the Companies.
The Investment Manager is
authorised and regulated in the
As at 31 March 2010, the Investment Manager was responsible for approximately US$66 billion of assets.
4
Directors
As part of the Transaction, Peter Tonissoo resigned as a director of the Companies with effect from 12 May 2010 and Victoria Brown, Martin Gilbert and Gary Marshall were appointed as directors of the Companies with effect from 12 May 2010.
5
Registered Office and Company
Secretary
Maples Corporate Services Limited was appointed to provide the registered office function of the Companies with effect from 30 April 2010.
Maples Secretaries Limited was appointed as company secretary to the Companies with effect from 30 April 2010.
The company secretary receives a fee from the
Companies for its services as company secretary negotiated at commercial rates
for each of the Companies. The
company secretary is entitled, in addition to the company secretarial fees, to
be reimbursed for all out-of-pocket expenses incurred by
it.
6 Contact Details
The contact details for the new service providers are as follows:
Manager
Aberdeen Asset Management Cayman
Limited
Ugland House
Telephone: +1 345 949
8066
Facsimile: +1 345 949
8080
Investment Manager
Aberdeen Asset Managers
Limited
Bow Bells House
Telephone: +44 20 7463
6000
Facsimile: +44 20 7463
6001
Registered Office
Maples Corporate Services
Limited
Ugland House
Telephone: +1 345 949
8066
Facsimile: +1 345 949
8080
Company Secretary
Maples Secretaries
Limited
Boundary Hall,
Grand Cayman KY1 1102
Telephone: +1 345 945
7099
Facsimile: +1 345 945
7100
For further information in relation to the above announcement please
contact David Makin at the office of the Companies' Secretary, Maples
Secretaries Limited (Tel: +1 345 814 5780 or david.makin@maplesfinance.com).
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