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AMP Capital China Growth Fund

Shareholders:


December distribution amount and tax components; update on repatriation process

FUND WIND UP INFORMATION

On Thursday, 28 July 2016, AMP Capital Funds Management Limited (ACN 159 557 721; AFSL 426455) as the Responsible Entity of the AMP Capital China Growth Fund (AGF or the Fund) held an Extraordinary General Meeting (EGM).

 

At the EGM, Unitholders voted on the following 2 resolutions:

  • Resolution 1: Responsible Entity Resolution: This resolution provided Unitholders with a capital management opportunity on the basis that a suite of additional enhancements to the Fund would also be introduced.
  • Resolution 2: LIM Resolution: This resolution directed the Responsible Entity to wind up the Fund. It was put forward by LIM Asia Multi-Strategy Fund Inc., a unitholder.

The results of the votes were as follows:

  • Resolution 1: Responsible Entity Resolution was not approved by the required 50% majority of unitholders present and voting; and
  • Resolution 2: LIM Resolution was approved by the required 50% majority of eligible unitholders

Following the passing of Resolution 2 at the EGM the RE commenced the wind-up of the Fund on 28 July 2016.

Net asset value

Current net asset value as at 30 June 2018
NAV per unit  $0.0299

Wind Up Distributions

A summary of the wind up distributions to unitholders is outlined below.
 
  AUD AUD
September distribution - paid 30 September 2016

260.0 million

0.55109 per unit
October distribution – paid 11 November 2016

49.0 million

0.10386 per unit
December distribution – paid 7 February 2017

79.0 million

0.16745 per unit
October distribution – paid 23 November 2017

60.0 million 

0.12718 per unit
December 2017 distribution – paid 7 February 2018

17.8 million

0.03774 per unit
Total wind up distributions paid to date

465.8 million

0.98732 per unit

1Subject to market movements, currency fluctuations, costs of wind up and operating expenses of the Fund.

Fees

The RE’s management fee was reduced to 0.40% on 1 September 2016.

Sell-down of China-A Shares

100% of the Fund’s underlying portfolio has now been sold.

ASX suspension and delisting

Securities in the Fund were suspended after close of trade on 28 December 2016, and delisted after close of trade on 30 December 2016. Unitholder’s who remain in the Fund are no longer able to sell their units via the ASX platform.

As a result, the RE is longer subject to the continuous or periodic disclosure rules in the ASX Listing Rules. However, the Fund is still a disclosing entity under the Corporations Act, and subject to the periodic and continuous disclosure reporting obligations of an unlisted managed investment scheme disclosing entity. Unitholders are able to view the Fund’s continuous disclosure notices on the AGF website. Those notices will include any information of which the RE is aware that is not generally available, where a reasonable person would expect that information to have a material effect on the price or value of AGF units.

Questions

 

If you have any questions, please contact the Unitholder Information Line on (Australia) 1800 658 404 or (Overseas) +61 2 8048 8230 between 8.30am and 5.30pm (AEST) Monday to Friday.




Media enquiries

Catherine Woods

+61 2 9257 5615

+61 477 320 333

Catherine.Woods@ampcapital.com

www.ampcapital.com.au/china

Fund facts

 
Fund updates
and related information

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Tax information - Distribution
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Annual Report

About the PDS:

You will find the following offer documents for this fund:

  • PDS
  • Incorporated information (the information incorporated by reference in the PDS, and which forms part of the PDS)

Before making a decision about investing or reinvesting, you should read both documents. These documents can also be obtained by contacting us on 1800 188 013.