Compliance with AIFMD
18 July 2014
Ruffer Investment Company Limited
(a closed-ended investment company incorporated in Guernsey with registration number 41996)
NOTICE OF ENTRY INTO ARRANGEMENTS WITH SERVICE PROVIDERS TO ENSURE COMPLIANCE WITH THE ALTERNATIVE INVESTMENT FUND MANAGERS DIRECTIVE (2011/61/EU) ("AIFMD")
Ruffer Investment Company Limited (the "Company") held a board meeting on 10 July 2014 at which the Company's board of directors (the "Board") resolved that the Company would adjust its operational arrangements to ensure compliance with AIFMD. Following a review of the Company's operational arrangements, the Board approved the appointment of Ruffer AIFM Limited ("RAIFM"), a wholly owned subsidiary of Ruffer LLP ("Ruffer"), as the Company's alternative investment fund manager on the terms of and subject to the conditions of an investment management agreement between the Company and RAIFM (the "AIFM Agreement"). Under the AIFM Agreement, RAIFM agrees to provide the Company with alternative investment fund management services and is obliged to attain the UK Financial Services and Markets Act 2000 Part 4A permission of "managing an AIF" before such appointment becomes effective.
The Board further resolved to concurrently terminate the Company's existing investment management agreement between the Company and the Company's current investment manager, Ruffer (the "Existing IMA"). The AIFM Agreement is based on the Existing IMA and only differs to the extent necessary to ensure that the relationship between the Company and RAIFM is compliant with the requirements of AIFMD.
The Board authorised the appointment of Northern Trust (Guernsey) Limited (the "Depositary") to act as the Company's depositary on the terms and subject to the conditions of a depositary agreement between the Company, RAIFM and the Depositary.
Finally, the Board resolved to amend and restate the Company's administration agreement with Northern Trust International Fund Administration Services (Guernsey) Limited (the "Administrator") to the extent necessary to ensure that the relationship between the Company, RAIFM and the Administrator is compliant with the requirements of AIFMD.
The Company announces that each of the AIFM Agreement, New IMA, Depositary Agreement and Administration Agreement have been signed for and on behalf of the Company and enter into effect from 22 July 2014.
For enquiries please contact:
Fraser Hiddelston, Northern Trust International Fund Administration Services (Guernsey) Limited, 01481 745 738
This information is provided by RNS
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