Capacity Restricted Dealing – CRD
What is Capacity Restricted Dealing?
Capacity Restricted Dealing ("CRD") allows us to recycle spare capacity in our funds. The mechanism will be used for those hard closed funds domiciled in Luxembourg in which sufficient spare capacity has become available. Interested investors will be invited to submit their interest and when capacity becomes available they will be invited to subscribe to the respective fund on specific dedicated dealing sessions.
Not all hard closed funds will be eligible for CRD.
How will it work?
Shareholders of such funds will be sent a notice by Schroder Investment Management (Luxembourg) S.A. (the “Management Company”) inviting them to join a waiting list by completing an Expression of Interest form ("EOI") and sending it by e-mail to our dedicated Client Support Management (CSM) team’s mailbox, firstname.lastname@example.org. The CSM team will acknowledge receipt and confirm if the application is valid. All customer due diligence must be finalised before the application is validated. Shareholders who have submitted an EOI and are added to the waiting list are called Applicants.
When sufficient capacity is available, the Management Company will contact Applicants on the waiting list to confirm their Requested Capacity Allocation(s) and to invite them to subscribe in one or several dealing sessions, until the available capacity has been used up. Applicants will be invited strictly in the order in which the Management Company has received their EOI. Applicants will remain on the waiting list until they have been invited to subscribe as and when there is sufficient capacity.
Applicants should submit their subscription order through their normal dealing channels, ensuring that it respects the limits expressed in the application, and also ensuring that it arrives at the Management Company in time to be executed on the required date(s). Applicants will be allowed to invest in any class for which they are eligible as per the conditions stated in the prospectus.
Applicants who have not submitted an EOI will not be permitted to invest in the fund under this process. Applicants who withdraw their EOI will be removed from the waiting list and must re-submit an EOI to be added to the end of the waiting list.
We draw your attention to the Important Terms and Conditions contained in the EOI, providing more detail on how the CRD facility will operate.
Will only existing investors be allowed to invest?
No, but new investors must complete customer due diligence before their application to join the waiting list will be accepted. Equally, any existing investors must not have any outstanding customer due diligence obligations in order to join the waiting list.
How will investors be notified of the application of the CRD program?
When a fund is hard closed going forward, the hard closure shareholder notice will include a reference to the CRD process if applicable for that fund. The notice will invite interested shareholders to consult the dedicated internet page where the CRD process will be described and the EOI will be made available.
For funds already hard closed or where CRD was not foreseen at hard closure, a shareholder notice will be sent advising current shareholders that they can apply for CRD.
The list of the sub-funds that are operating the CRD facility can be found under the below link, together with the EOI and other information in relation to this process. New investors interested in subscribing to a hard closed fund can submit an EOI at any time and, subject to validity checks, be added to the waiting list.
When sufficient capacity becomes available, an e-mail notice will be sent out inviting the Applicants on the waiting list to invest in the order in which the Management Company received their EOI.
At the following link you will find :
- The EOI;
- The list of hard closed funds available for CRD and other information.
Who should I contact for more information?
Please contact your local Schroders office or the Management Company’s Client Support Managers (CSMs) by email, crd.simluxcsm@Schroders.com, or by phone on (+352) 341 342 212.
The Management Company will not be liable if:
− It does not receive the Applicant's request (including the EOI ) to join the waiting list.
− The Applicant does not receive an invitation from the Management Company to subscribe.
− The Management Company does not receive the Applicant's subscription request (i.e., its actual order following the Management Company’s invitation to subscribe).
− The Applicant's subscription is not fulfilled by the Management Company for a valid reason.
− The Applicant's subscription is fulfilled, for a valid reason, later than the date on which the Applicant requested that it be fulfilled.
− An Applicant subscribes in excess of its indicative subscription interest and the Management Company rejects the entire subscription.
This document is intended to be for information purposes only and it is not intended as promotional material in any respect. The material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The material is not intended to provide, and should not be relied on for, accounting, legal or tax advice, or investment recommendations. Information herein is believed to be reliable but Schroders does not warrant its completeness or accuracy. No responsibility can be accepted for errors of fact or opinion. Reliance should not be placed on the views and information in the document when taking individual investment and/or strategic decisions.
Past performance is not a reliable indicator of future results, prices of shares and the income from them may fall as well as rise and investors may not get back the amount originally invested.
Issued by Schroder Investment Management Limited, 31, Gresham Street, EC2V 7QA, who is authorised and regulated by the Financial Conduct Authority. For your security, communications may be taped or monitored.