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Swing pricing

SWING PRICING: Protecting shareholders from fund dilution

Preamble: Fundamental principles adopted by H2O Asset Management
In its wish to safeguard the interests of its long-term holders, H2O Asset Management has decided to introduce the swing pricing mechanism based on the methodology recommended by the French Asset Management Association's (AFG) charter.
The introduction of swing pricing solely concerns funds that would benefit from this mechanism.

A shareholder who purchases or redeems an amount below the threshold is not guaranteed to be executed on an unswung NAV. Indeed, the swing pricing trigger is appreciated globally, taking into account all inflows/outflows, ie the net balance of subscriptions / redemptions of all shareholders.

Moreover, H2O Asset Management has the right to change at any time the swing pricing parameters, especially during a crisis situation.

Fund name:

H2O Adagio
H2O Moderato
H2O Multibonds
H2O MultiStrategies
H2O Vivace
H2O Allegro
H2O EuroAggregate
H2O MultiEquities
H2O Largo
H2O Allegretto
H2O Multi Aggregate Fund
H2O Multi Emerging Debt Fund

A FAQ is available on H2O AM’s website. The purpose of these FAQs is to respond to the various questions of holders regarding the working of the mechanism and its impacts. It applies to professional and non-professional clients within the meaning of the Markets in Financial Instruments Directive.
• This document is available at the H2O Asset Management website.
• This document can also be obtained on request from H2O Client Service by e-mailing clientservices@h2o-am.com or sending a letter to:
Portfolio Management services
10 Old Burlington Street W1S 3AG London
United Kingdom

Download the Swing Pricing FAQ