MW ASSET MANAGEMENT
An investment company with variable capital
Head Office : L-2520 Luxembourg, 5, allée Scheffer.
R.C.S. Luxembourg B 186.367
Notice to shareholders
Shareholders are hereby notified that the Board of Directors of MW Asset Management SICAV (the "SICAV") has decided to make the following changes to the content of the Prospectus.
1. Changes to the general section of the prospectus
1.1 Introduction of certain costs inherent in the operation of the SICAV
The section on operating expenses incurred by the SICAV has been amended in the prospectus to provide for the application of the following expenses, with effect from May 27, 2024:
fees and costs relating to subscriptions, licenses and/or any other services for the supply of paid data or information from financial indices providers, rating agencies and/or any other data or information provider.
1.2 Clarification of certain SICAV operating expenses
The operating expenses incurred by the SICAV have been clarified by including them in the prospectus:
the difference between the compensation due to the SICAV and the compensation due by the SICAV under Regulation (EU) 909/2014 of July 23, 2014 (CSDR) when the latter is negative.
2. Sub-fund-specific changes to Appendix 1 of the prospectus
2.1 MW ACTIONS Global: change of name from "MW ACTIONS USA" to "MW ACTIONS Global" with effect from April 25, 2024
The name of the "MW ACTIONS USA" sub-fund has been changed to "MW ACTIONS Global" to reflect the fact that investments are made in the global equity universe, even though 70% of these investments are in US stocks. For the avoidance of doubt, the investment policy, management and fees of this sub-fund remain unchanged.
2.2 MW ACTIONS Global: updated prospectus following the extension of the use of third-country benchmarks within the European Union
The "MW ACTIONS Global" sub-fund (formerly "MW Actions USA") uses the "MSCI World" benchmark index. As a third-country index, it can now be used as long as the prospectus mentions this before December 31, 2025.
This change confirms the possibility for the sub-fund to continue using the existing benchmark index, and therefore has no impact on the sub-fund or its shareholders.
2.3 MW ACTIONS Global: correction of management fees for two classes of share following an administrative error
Following an administrative error, the management fee for the USD-I-P and EUR-I-P share classes of the "MW ACTIONS Global" sub-fund (formerly "MW Actions USA") indicated a maximum of 2%, whereas the actual maximum applied was 1.5%. The maximum commission rate for these USD-I-P and EUR-I-P share classes has therefore been corrected in the prospectus to 1.5%. This change reduces the maximum rate communicated to shareholders and therefore has no impact on their investment.
2.4 MW ACTIONS Global: removal of the limit on market capitalizations below $10 billion
While the investment objective and policy of the "MW ACTIONS Global" sub-fund (formerly "MW Actions USA") remain unchanged, the investment restriction of 0% to 25% of net assets invested in companies with a market capitalization of less than $10 billion has proved too restrictive.
The sub-fund's commitment to respect the net asset exposure of "0% to 25% in equities listed on regulated markets in the United States of America (mid, small and micro-cap) of less than $10 billion" has therefore been removed.
2.5 Other sub-fund-specific changes
Share class information has been updated, including initial subscription dates, initial issue prices, payment dates and first net asset value dates.
3. Addition of Appendix 2 to the prospectus for pre-contractual information on the sustainability of certain sub-funds
Following the observation that the five sub-funds "MW MULTI-CAPS EUROPE", "MW OBLIGATIONS INTERNATIONALES", "MW PATRIMOINE", "MW ACTIONS EUROPE", and "MW ACTIONS GLOBAL" promote, among other characteristics, environmental or social characteristics, or a combination of these characteristics, within the meaning of Article 8 of Regulation (EU) 2019/2088 of November 27, 2019 on the publication of sustainability-related information in the financial services sector (the "SFDR Regulation"), an Appendix 2 has been added to the prospectus to provide pre-contractual information on these five sub-funds in accordance with the SFDR Regulation.
SICAV shareholders who consider that the changes described above in paragraph 1.1 of section 1. do not meet their needs, may request the redemption, free of charge, of their shares up to May 24, 2024, in accordance with the terms and conditions set out in the SICAV prospectus. This redemption order will be processed in accordance with the provisions of the prospectus.
Luxembourg, April 24, 2024.
The Board of Directors