Changes on the LFDE range
As of December 31, La Financière de l’Échiquier will make several changes to its range:
► 4 of our mutual funds, recently labeled SRI in France, will have their name changed to take into account this new SRI dimension.
- Echiquier Agenor Euro Mid Cap which becomes Echiquier Agenor Euro SRI Mid Cap
- Echiquier Agenor Mid Cap Europe which becomes Echiquier Agenor SRI Mid Cap Europe
- Echiquier Alpha Major which becomes Echiquier Alpha Major SRI
- Echiquier Credit Europe which becomes Echiquier Credit SRI Europe
The definition of the management objective and the investment strategy in the prospectuses of these mutual funds will be enriched by the elements related to the SRI dimension.
► The fee structure for the following mutual funds will be changed:
- Echiquier World Equity Growth
- Echiquier Robotics
- Echiquier Luxury
- Echiquier Health
For these mutual funds, the fixed costs of the shares or units are reduced, while a 15% outperformance fee is introduced in the case of the Fund outperforming its benchmark. It should be noted in this regard that these changes lead to a certain decrease in recurrent costs without, however, leading to a certain decrease in total expenses. In the case of a significant outperformance, this reduction in fixed costs may be offset by the outperformance fee.
In addition, regardless of the shares or units concerned (except for Echiquier Health which is not subject to it), the transaction fees in force in these mutual funds will decrease from 0.40% of transactions to 0.30% of transactions.
► The Echiquier Convexité Europe benchmark index will, on 1 January 2020, change to Exane Convertibles Index Europe, hedged against currency risk, to better reflect its management style (the benchmark was the Exane Convertibles Index Europe unhedged)
► Finally, La Financière de l’Échiquier will also make some adjustments in the prospectuses of Echiquier ARTY, Echiquier Patrimoine, Echiquier AltaRocca Hybrid Bonds and Echiquier AltaRoccaConvertibles to specify the investment strategy and instruments used.