NOTICE TO SHAREHOLDERS OF THE CIBC PRIVATE CLIENT FUND LIMITED

Date30-Jul-2004
Notice to Shareholders of the CIBC Private Client Fund Limited

 

Immediate Announcement 29 July 2004

 

Re: Change to Fund

 

As a part of the ongoing review of the Fund and services to shareholders the Board of Directors wish to announce the following significant changes.

 

Frequency of Dealing

With effect from the close of business on Thursday 12 August 2004, shares in the above Fund will be dealt on a weekly basis, rather than daily.

 

This means that instructions to redeem shares must be received by the Manager no later than close of business (Guernsey time) on the Wednesday, for a redemption to be made that week. Similarly, subscriptions or additional investments must be made by close of business on the Wednesday, for processing the following day.

 

Administrator

Butterfield Fund Services (Guernsey) Limited have been administering the Fund since July 2001 and will continue to do so until 30 September 2004.

 

The Board is in the process of appointing a new administrator and designated manager, AOS Fund Services Limited, who will manage the Fund in partnership with CIBC Trust Company (Cayman) Limited. Amongst several benefits, we are pleased that this will provide shareholders with an additional customer service point in the Caribbean. Further contact information will be provided nearer the transition date.

 

Closure of Japan Equity Fund-USD/Japan Equity Fund-Yen/Global Equity Fund-Euro

As a part of an ongoing review aimed at reducing the cost to shareholders and ensuring that each sub-fund continues to meet its objective, we have concluded that some of our smaller sub-funds have become too small to be cost effective or efficient for shareholders.

 

Accordingly, the Directors have decided to close the above sub-funds with effect from 12 August 2004.

 

Further enquires please contact:

 

Contact: Company Secretary

Tel No: +44 (0) 1481 720321

Fax No: +44 (0) 1481 716117

E-mail: funds@bfingl.gg