Dear Shareholder,
We would like to inform you that, in accordance with section “General Information” of the Prospectus of the Fund paragraph 8 headed “Merger or liquidation of Sub-Funds” which states that “the Prospectus states that : “In the event that for any reason the value of the net assets in any Sub-Fund or Class has decreased to an amount determined by the Board of Directors to be the minimum level for such Sub-Fund or Class be operated in an economically efficient manner, or if a change in the economical, political or monetary situation relating to the Sub-Fund or Class concerned would have material adverse consequences on the investments of that Sub-Fund or if the Board of Directors otherwise considers it to be in the best interest of the Shareholders of the relevant Sub-Fund and/or Class, the Board of Directors may decide to compulsorily redeem all the Shares of the relevant Class or Share Classes issued in such Sub-Fund or the relevant Class at the Net Asset Value per Share”, the Board of directors of the Fund (the « Board ») considered that the net assets of the Fund fell below the minimum level to be operated in an economically efficient manner and therefore that it is in the best interest of the shareholders to proceed to a compulsory redemption of their shares and subsequently to the immediate dissolution of the Sub-Fund (the “Dissolution”).