db x-trackers II1
Investment Company with Variable Capital
Registered office: 49, avenue J.F. Kennedy, L-1855
Luxembourg,
R.C.S. Luxembourg B-124.284
(the " Company ")
Important notice to Shareholders of
db x-trackers II Global Government Bond UCITS ETF (DR)
db x-trackers II Global Inflation-Linked Bond UCITS ETF (DR)
( the "Sub-Funds")
Luxembourg, 14 February 2018
The Board of Directors hereby informs shareholders of the
Sub-Funds that it is proposed to make amendments to the Share
Classes set out in the table below (the " Currency Hedged Share
Classes "):
Sub-Fund2 Currency Hedged Share Class ISIN
db x-trackers II Global 2D LU0641006290
Government
Bond UCITS ETF (DR)
db x-trackers II Global 3C LU0641006456
Government
Bond UCITS ETF (DR)
db x-trackers II Global 2C LU0641007009
Inflation-Linked
Bond UCITS ETF (DR)
db x-trackers II Global 3D LU0641007264
Inflation-Linked
Bond UCITS ETF (DR)
This proposal follows ESMA's opinion in relation to UCITS share
classes (ESMA34-43-296), whereby the Company will be better
positioned to meet the requirements of the ESMA opinion by
implementing a new hedging model to replace the current model which
employs the currency hedging methodology of the Hedged Index (as
defined below) of the Reference Index replicated by the relevant
Sub-Fund.
The current Investment Objective of the Currency Hedged Share
Classes is to track the currency hedged version of the Reference
Index of the relevant Sub-Fund (" Hedged Index "). As of the
Implementation Date (defined below) the Investment Objective of the
Currency Hedged Share Classes will be to track the Reference Index
and the Sub-Portfolio Manager will not follow the currency hedging
methodology in such Hedged Index (and references thereto will be
removed from the relevant Product Annex). Instead the Sub-Portfolio
Manager will follow a hedging model as set out in section "The
Currency Hedged Share Classes" in the main part of the Prospectus.
As per this methodology, the Sub-Portfolio Manager will seek to
hedge the Denomination Currency of the Currency Hedged Share Class
against the currency exposures of the underlying securities in the
portfolio of the relevant Sub-Fund which differ to the Denomination
Currency of that Currency Hedged Share Class. The Sub-Portfolio
Manager will generally hedge these currency exposures at Share
Class level by entering into currency forward exchange contracts or
other types of derivative contracts which reflect a foreign
exchange hedging exposure.
In line with ESMA's opinion, the Sub-Portfolio Manager will also
seek to ensure that any over-hedged or under-hedged positions
caused by external factors outside the control of the Company will
not exceed 105% of the Net Asset Value of the relevant Currency
Hedged Share Class and will not fall short of 95% of the portion of
the Net Asset Value of the relevant Currency Hedged Share Class
which is to be hedged against currency movements.
Investors should note that the Currency Hedged Share Classes
will not completely eliminate currency risk, or provide a precise
hedge, and as such, investors may have exposures to currencies
other than the currency of the Currency Hedged Share Class.
Investors should note that there may be costs associated with
the use of foreign exchange hedging transactions which will be
borne by the relevant Currency Hedged Share Class.
Given that the Sub-Portfolio Manager will no longer follow the
currency hedging methodology in a Hedged Index, as of the
Implementation Date the anticipated level of Tracking Error
disclosed for Currency Hedged Share Classes of Sub-Funds with a
Direct Investment Policy will represent the anticipated level of
Tracking Error of the unhedged Share Class(es) against the relevant
Sub-Fund's Reference Index (which is also unhedged), where
applicable.
The date of implementation of the new hedging model for each
Fund will be notified in advance on the website of the Company (
www.Xtrackers.com ) (the " Implementation Date ") but will be no
earlier than 16 March 2018 and no later than 30 July 2018. Neither
the contents of the Company's website nor the contents of any other
website accessible from hyperlinks on the Company's website are
incorporated into, or form part of, this announcement.
Shareholders who subscribe for or redeem Shares in the Sub-Funds
on the primary market and who do not agree with the above changes
are entitled to redeem their Shares in the Sub-Funds in accordance
with the Prospectus. Such redemptions shall be free of any
Redemption Charge until the relevant Cut-off Time, as defined in
the Prospectus, one day prior to 16 March 2018. Please note that
the Company does not charge any redemption fee for the sale of
Shares in the secondary market. Orders to sell Shares through a
stock exchange can be placed via an authorized intermediary or
stockbroker. However, Shareholders should note that orders in the
secondary market may incur costs over which the Company has no
control and to which the above exemption of Redemption Charge does
not apply.
The Product Annexes of the Sub-Funds will be updated to reflect
the above change. The amendments to the Sub-Funds will be set out
more fully in the revised Prospectus of the Company to be issued on
or around the Implementation Date. Copies of the revised Prospectus
and the key investor information document of the Sub-Funds
reflecting the changes will be made available on the website of the
Company ( www.Xtrackers.com ), and a copy thereof may be obtained
on request free of charge at the registered office of the Company
or at the offices of foreign representatives, once available.
If you have any queries or if any of the above is not clear you
should seek advice from your stockbroker, bank manager, legal
advisor, accountant or other independent financial advisor.
Shareholders should also consult their own professional advisors
as to the specific tax implications under the laws of the countries
of their nationality, residence, domicile or incorporation.
Capitalised terms used in this notice shall have the same
meaning ascribed to them in the current version of the prospectus
of the Company, unless the context otherwise requires.
Further information in relation to the above may also be
obtained from the legal entities mentioned under 'Contact
information' below or by sending an email to Xtrackers@db.com .
* * *
Yours sincerely,
db x-trackers II
The Board of Directors
Contact information
db x-trackers II
49, avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of
Luxembourg
Deutsche Asset Management S.A.
2, boulevard Konrad Adenauer, L-1115 Luxembourg, Grand Duchy of
Luxembourg
_________________________________________________________________
1 Please note that on 16 February 2018, db x-trackers II will be
re-named "Xtrackers II".
2 Please note that on 16 February 2018, the Sub-Funds/Currency
Hedged Share Classes will be re-named as per the table below:
Old Name Old Currency New Name New Currency Hedged
Hedged Share Class Name
Share Class
Name
db x-trackers 2D Xtrackers II Global 2D - GBP Hedged
II Global Government
Government Bond UCITS ETF
Bond UCITS
ETF (DR)
db x-trackers 3C Xtrackers II Global 3C - USD Hedged
II Global Government
Government Bond UCITS ETF
Bond UCITS
ETF (DR)
db x-trackers 2C Xtrackers II Global 2C - USD Hedged
II Global Inflation-Linked
Inflation-Linked Bond UCITS ETF
Bond UCITS
ETF (DR)
db x-trackers 3D Xtrackers II Global 3D - GBP Hedged
II Global Inflation-Linked
Inflation-Linked Bond UCITS ETF
Bond UCITS
ETF (DR)
View source version on
businesswire.com:http://www.businesswire.com/news/home/20180214005072/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
February 14, 2018 04:00 ET (09:00 GMT)
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