IMPORTANT INFORMATION: Change to the Schroders holding calculation basis for rebates
Effective date: 1 January 2023
Please be aware of a change on our holdings calculation basis that you need to be aware of. The scope of Schroders funds impacted:
1. Schroder Luxembourg domiciled funds
2. Schroder Cayman domiciled funds
3. Schroder Swiss domiciled funds
4. Schroder Hong Kong domiciled funds
5. Schroder Singapore domiciled funds
The above mentioned move to this holdings calculation basis took place on 1 January 2023 (the ‘Effective Date’).
What has changed ?
We have updated the holdings calculation basis for rebates to include subscriptions from their ‘Trade date’ as opposed to Settlement date.
Holdings calculation basis
In general, direct trades that increase client positions shall be taken into the holding valuation with effect from their trade date, this was already the case for trades that decrease client positions.
Where calculations need to be based on holdings information received from third-parties (for non-direct trades placed via custodians, platforms and other nominees), the effective dates of trades may vary depending on the data received.
Should the deal placement route of a client’s business change (e.g. via a new intermediary or a clearing house etc.), Schroders needs to be informed of the new account/trading details to ensure full capture of holdings covered by an agreement.
A rebate period (e.g. a Quarter) is based on calendar days (including an additional day for leap years).
Please be advised that your contractual agreement with Schroders may be affected and we will notify you as a follow up accordingly. Consequently, these changes will not affect the investment management of your Schroders funds or your ownership of units/shares in those funds. The costs, including those related to regulatory and shareholder communication, will not be borne by the funds or investors.
If you have any questions regarding any of the above changes, please reach out to your usual contactor your local representative.
For further detail on the calculation methodology and process please read: