H2O Communication – 22/09/2020

Following the on-going side-pocketing of their “private” instruments, which effectively began this week and should be completed on Thursday, October 8, 2020, the seven mirror-funds (namely H2O Adagio FCP, H2O Moderato FCP, H2O MultiBonds FCP, H2O Allegro FCP, H2O Vivace FCP, H2O MultiStrategies FCP & H2O MultiEquities FCP) whose subscriptions/redemptions were suspended on Friday, August 28, 2020, should reopen for daily dealings on Tuesday, October 13, 2020 after 12:30 pm CET.

The reason behind this later-than-anticipated reopening relates to the significant legal and operational work that is being achieved in order to split the current funds, create seven new funds and almost 100 new share-classes, and register them in different international jurisdictions.

Also, as it was not possible for complexity reasons to complete the side-pocketing of the seven funds on the same day, we had the choice between segregating and reopening them sequentially, or waiting for the last fund to be split in order to resume the daily subscriptions in & redemptions out of our seven Global Macro funds.

In the best interests of the unitholders, so as to preserve their equal treatment, we decided in favour of reopening simultaneously at the end of the side-pocketing process, instead of doing it earlier and fund after fund.

A separate communication will be issued in the coming weeks regarding H2O Fidelio and H2O Deep Value.