Fund transfers - BNP Paribas
BNP Paribas Investment Partners announce transfer of funds from their current fund range to Parvest.
BNP Paribas Investment Partners have announced that on the 21 May 2013, they will be carrying out a number of fund transfers from their BNP Paribas L1 SICAV fund range into their Parvest SICAV fund range.
These transfers will affect two funds currently available in the Quantum, Paragon and Oracle guided fund range.
The BNP Paribas L1 Opportunities USA fund which will be transferred into the Parvest Opportunities USA fund; and
The BNP Paribas L1 Equity World Energy fund which will be transferred into the Parvest Equity World Energy fund.
Why are they transferring the funds?
BNP Paribas Investment Partners are looking to separate out their two brands to target specific markets. The BNP Paribas L1 fund range will focus on European markets, whilst the Parvest brand will offer a core fund range internationally.
Letters have been issued to affected policyholders or their appointed investment adviser, advising of the fund transfers. A copy has been sent to their servicing adviser for information. The fund managers notification and sample letters can be viewed opposite.