Summary of investor rights

Shares

The Shares of each Class of Shares are in principle issued in registered form without any par value and fully paid up. Fractions of Shares may be issued up to a maximum of five decimal places. They are recorded in a Shareholder register, kept at the Fund’s registered office. Shares redeemed by the Fund will be cancelled. All Shares are freely transferable and entitle holders to an equal proportion in any profits, liquidation proceeds and dividends for the Compartment in question. Each Share is entitled to a single vote. Shareholders will also be entitled to the general Shareholders’ rights provided for under the 1915 Law, as amended, with the exception of the pre-emptive right to subscribe for new Shares. To the extent permitted by law, the Board of Directors may suspend the right to vote of any Shareholder which does not fulfil its obligations under the Articles of Association or any document (including any applications forms) stating its obligations towards the Fund and/or the other Shareholders. Any Shareholder may undertake (personally) to not exercise his/her voting rights on all or part of his/her Shares, temporarily or indefinitely. Shareholders will only receive confirmation of their entry in the register. 

General Shareholders’ Meeting

The Annual General Meeting is held every year on 3 December at 10.00 am at the Fund’s registered office or at any other location in Luxembourg, as specified on the invitation to attend the meeting. If that day is not a Banking Day, the meeting will be held on the following Banking Day. If and to the extent allowed by Luxembourg laws and regulations, the Annual General Meeting may be held at a date, time and place other than those described in the paragraph above. This other date, time and place will be determined by the Board of Directors. Notices of meetings will be sent to all registered Shareholders at least 8 days prior to the relevant meeting. These notices will include details of the time and place of the meeting, the agenda, conditions for admission and requirements concerning the quorum and majority as laid down by Luxembourg law. All decisions by Shareholders regarding the Fund will be taken at the general meeting of all Shareholders, pursuant to the provisions of the Articles of Association and Luxembourg law. All decisions that only concern the Shareholders of one or more Compartments may be taken – as authorised by law – by the Shareholders of the relevant Compartments. In this case, the quorum and majority requirements stipulated in the Articles of Association will apply. In case the voting rights of one or more Shareholders are suspended, such Shareholders shall be convened and may attend the general meeting, but their Shares shall not be taken into account for determining whether the quorum and majority requirements are satisfied. 

Information for Shareholders

The Fund draws investors' attention to the fact that they can only fully exercise their investor rights directly with respect to the Fund (in particular the right to participate in the general meetings of the Shareholders), when the investor himself appears, in his/her own name, in the Shareholder register. In cases when an investor has invested in the Fund through an intermediary investing in the Fund in his/her own name but on behalf of the investor, certain rights attached to the Shareholder status cannot necessarily be directly exercised by the investor with respect to the Fund. Investors are advised to make inquiries about their rights.

Key Information Document (KID)

According to the 2010 Act, the KID must be provided to investors in good time before their proposed subscription for Shares. Before investing, investors are invited to visit the Management Company website www.pictet.com/assetmanagement and download the relevant KID prior to any application. The same diligence is expected from the investor wishing to make additional subscriptions in the future since updated versions of the KID will be published from time to time. A hard copy can be supplied to investors on request and free of charge at the registered office of the Fund.

The above shall apply mutatis mutandis in case of switch. Depending on applicable legal and regulatory requirements (comprising but not limited to MiFID) in the countries of distribution, Mandatory Additional Information may be made available to investors under the responsibility of local intermediaries / distributors. 

Periodic reports and publications

The Fund will publish audited annual reports within 4 months of the end of the fiscal year and unaudited semi-annual reports within 2 months of the end of the reference period. The annual report includes the financial statements for the Fund and each Compartment. These reports will be made available to Shareholders at the Fund’s registered office and from the Depositary Bank and foreign agents involved in marketing the Fund abroad. The net asset value per Share of each Compartment and the issue and redemption price are available from the Depositary Bank and the foreign agents involved in marketing the Fund abroad. Information to Shareholders relating to their investment in the Compartments may be sent to their attention and/or published on the website www.pictet.com/assetmanagement. In case of material change and/or where required by the CSSF or by Luxembourg law, Shareholders will be informed via a notice sent to their attention or in such other manner provided for by the applicable law. 

Documents available for inspection

The following documents are deposited at the registered office of the Depositary Bank and of the Fund: › the Articles of Association; ›the latest annual report and the latest semi-annual report if more recent than the former; the Management Company agreement between the Fund and the Management Company; › the Depositary Agreement entered between the Depositary Bank and the Fund.

Queries and complaints

Any person who would like to receive further information regarding the Fund including the strategy followed for the exercise of voting rights of the Fund, the active ownership policy, the conflict of interest policy, the best execution policy and the complaints resolution procedure or who wishes to make a complaint about the operations of the Fund should contact the Head of Compliance of the Management Company, i.e. Pictet Asset Management (Europe) S.A., 15, avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg. The details of the Responsible Investment policy is available here, the complaints resolution procedure of the Management Company as well as the details of the CSSF out-of-court complaint resolution procedure are available here.

A copy of these documents can also be obtained free of charge upon request.

Please note that the European Directive (2020/1828) on representative actions for the protection of the collective interests of consumers (the “Directive”) foresees the establishment of a redress mechanism for consumers . The Directive is expected to be transposed into national laws by 25 June  2023. In the meantime, Pictet Asset Management (Europe) S.A. is committed to address any complaints submitted through its complaint resolution procedure or the CSSF out-of-court complaint resolution procedure.