Rathbone SICAV High Quality Fund Closure

In our capacity as Distributor and Investment Manager of the Rathbone Luxembourg Funds SICAV (“the Company”) we are informing you about the liquidation of Rathbone SICAV High Quality Bond Fund, a sub-fund of the Company (the “Sub-Fund”), as soon as possible from 19 July 2024 and subject to the prior approval of the Sub-Fund’s supervising authority, the Commission de Surveillance du Secteur Financier (the “CSSF”).

What’s happening and why

In accordance with Article 14 of the articles of incorporation of the Company, the Board of Directors (the “Board”) has decided to liquidate the Sub-Fund.

Despite marketing efforts, the total net assets of the Sub-Fund have fallen to around £9mn as at 28 June 2024. This size is now below a level at which the Sub-Fund can be operated viably.

As of 11 July 2024, the Sub-Fund stopped issuing new shares and therefore you could no longer convert shares of other sub-funds of the Company into shares of the sub-fund. 

The Sub-Fund is expected to pay proceeds shortly after the Liquidation Date, subject to satisfactory completion of any applicable anti-money laundering requirements.

Any costs associated with the closure, such as the sale of the assets of the Sub-Fund, and any legal mailing and administration costs, will be paid by the Sub-Fund. In preparation for the closure, prior to the Liquidation Date, the Sub-Fund may not be managed in accordance with its Sub-Fund investment objectives to assist in the orderly winding up of the Sub-Fund and it is expected that the sub-fund will only hold cash on the Liquidation Date.

If, at any time prior to the Liquidation Date, the Net Asset Value of the Sub-Fund falls to a level where the Board considers it unmanageable, the Investment Manager may convert all or part of the Sub-Fund into cash prior to the Liquidation Date. The Investment Manager may also do this if necessary to ensure the liquidation is managed properly.

We thank you for your support of this Sub-Fund over the years.

If you have any questions, please get in touch at transferagency@lu.hsbc.com.

On behalf of the Board,

Yours faithfully,

Tom Carroll,

Director

Appendix: Impacted Share Classes