Shareholder Voting Update

Following a series of EGMs in December 2018, a majority of participating shareholders have voted in favour of the Scheme of Arrangement, resulting in 31 Euro share classes within the UK OEIC Fund Range being exchanged for equivalent shares in the Irish VCC Fund range. This represents approximately 90% of the UK OEIC Fund Range’s assets under management (AUM) currently held in the Euro share classes. The remaining 24 share classes will remain as is within the UK OEIC Fund Range.

The scheme of arrangement will enable investors to have their assets transferred to funds in the Irish VCC Fund range which are run by the same fund managers as their UK OEIC Fund range equivalents. First State’s intention is to protect the interests of all investors and provide options for continued access to our investment strategies, irrespective of the outcome of the Brexit negotiations.

Switching Form
Switching Form for use in connection with share class merger

*As previously advised the Stewart Investors Indian Subcontinent Fund will change its name to the Stewart Investors Indian Subcontinent Sustainability Fund as of early January 2019
**As previously advised the Stewart Investors Worldwide Leaders Fund will change its name to the Stewart Investors Worldwide Select Fund as of early January 2019

About First State Investments:

First State Investments is a global asset management business with experience across a range of asset classes and specialist investment sectors. First State Investments is owned by the Commonwealth Bank of Australia and as at 30 June 2018 managed £122 billion of assets on behalf of clients worldwide. In Australia First State operates as Colonial First State Global Asset Management. First State Investments offers a range of investment solutions to institutional and retail investors globally, including equities, debt, multi-asset and unlisted infrastructure.

Our approach to investment is driven by a commitment to providing the best possible outcomes over the long term for our investors. To achieve this, we ensure our interests are aligned with our investors and uphold a culture of always acting in our clients’ best interests.

Important Information

This document has been prepared for informational purposes only and is only intended to provide a summary of the subject matter covered and does not purport to be comprehensive. The views expressed are the views of the writer at the time of issue and may change over time. It does not constitute investment advice and/or a recommendation and should not be used as the basis of any investment decision. This document is not an offer document and does not constitute an offer or invitation or investment recommendation to distribute or purchase securities, shares, units or other interests or to enter into an investment agreement. No person should rely on the content and/or act on the basis of any material contained in this document.

The information contained within this document has been obtained from sources that we believe to be reliable and accurate at the time of issue but no representation or warranty, express or implied, is made as to the fairness, accuracy, or completeness of the information. We do not accept any liability whatsoever for any loss arising directly or indirectly from any use of this information.

References to “we” or “us” are references to First State Investments.

In the UK, issued by First State Investments (UK) Limited which is authorised and regulated by the Financial Conduct Authority (registration number 143359). Registered office Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB number 2294743. Outside the UK within the EEA, this document is issued by First State Investments International Limited which is authorised and regulated in the UK by the Financial Conduct Authority (registered number 122512). Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB number SCO79063.

First State Investments (UK) Limited and First State Investments International Limited are part of Colonial First State Asset Management (“CFSGAM”) which is the consolidated asset management division of the Commonwealth Bank of Australia ABN 48 123 123 124. CFSGAM includes a number of entities in different jurisdictions, operating in Australia as CFSGAM and as First State Investments elsewhere. The Commonwealth Bank of Australia (“Bank”) and its subsidiaries do not guarantee the performance of any investment or entity referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of the Bank or its subsidiaries, and are subject to investment risk including loss of income and capital invested.

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