London/Paris, 07/01/2025
The offer to exit the side-pocketed funds, launched 11 weeks ago on 15 October 2024, has reached a significant milestone with a participation rate now estimated at over 60% of assets in the side-pocketed funds. This estimate is based on a projection taking into account subscriptions to the Offer recorded to date (over 35,000), and on information in our possession relating to the positions of institutional investors and of distribution platforms. In addition, the momentum continues to accelerate, with new subscriptions reaching 2,000 per day in December 2024.
These results testify to the strong interest in H2O AM’s solution, which offers unitholders the possibility of selling their units in side-pocketed funds and of benefiting from an enhanced and earlier payment in return for waiving their rights to take legal action and to any pending legal action in relation to the side-pocketed funds and to the investments held by the side-pocketed funds and their management. The company reminds its clients that the Offer is open to all unitholders of the side-pocketed funds, whether or not they remain invested in the liquid funds (FCP), and whether or not they are engaged in legal proceedings.
In the interest of all unitholders, H2O AM remains fully committed to pursuing its recovery efforts related to the assets still held by the side-pocketed funds. The €229 million already repaid as well as the €250 million Offer constitute a minimum repayment. Our objective remains to exceed this threshold, notably through the liquidation of assets held by the side-pocketed funds. The Offer is open until 24 January 2025 for all unitholders in the side-pocketed funds as of 15 October 2024: H2O Adagio SP, H2O Allegro SP, H2O Moderato SP, H2O MultiBonds SP, H2O MultiEquities SP, H2O MultiStrategies SP, H2O Vivace SP.
For a detailed explanation of the Offer and how the recovery rate is calculated, please consult our dedicated website, as well as the explanatory video provided by H2O AM LLP on its website. In the case of life insurance, please contact your financial intermediary or insurance company. For any questions, unitholders may contact an advisor of their choice, their financial intermediary or send an e-mail to the following addresses:
- E-mail for unitholders (institutional or individual investors): h2o-identification@is.kroll.com
- E-mail for custodian banks: h2o@is.kroll.com
About H2O AM
Founded in 2010 and with offices in Paris, Monaco, London, Geneva and Singapore, H2O AM is an independent asset management company, mainly specialising in Global Macro strategies.
Based on an investment process developed over more than thirty years and employing proprietary quantitative engineering, the team implements a discretionary investment process based on a Top-Down and Value approach.
Through relative value strategies in bonds, currencies and equities, H2O AM offers its clients the benefits of diversified alpha with assumed and controlled risk over a defined time horizon.
Press contacts
Mélodie Blondel – H2O AM
Mail: melodie.blondel@h2o-am.com | Tel: +33 6 78 63 98 30
Yoann Besse – Citigate agency
Mail: Yoann.Besse@citigatedewerogerson.com | Tel: +33 6 63 03 84 91
Gaspard Gantzer – Gantzer Agency Mail: gantzergaspard@gmail.com | Tel: +33 6 60 58 45 90
Disclaimer
This document has been prepared by H2O AM LLP and H2O AM Europe.
H2O AM LLP is authorised and regulated by the Financial Conduct Authority (FCA) and is registered with the UK Financial Services Authority under reference number 529105, http://www.fca.org.uk/.
Company name and registered office: H2O AM LLP, 6th Floor, 33 Cavendish Square, London W1G 0PW, United Kingdom. Company number: OC356207
H2O AM Europe is authorised and regulated by the Autorité des Marchés Financiers under AMF authorisation number GP-19000011. The AMF register can be accessed at https://www.amf-france.org.
Company name and registered office: H2O AM Europe, 39 avenue Pierre 1er de Serbie, 75008 Paris, Company number RCS Paris n° 843 082 538.