Dear Value Customer,
We at HSBC Saudi Arabia Limited (IBSA) are in the process of restructuring our mutual fund products to better serve our clientele. This is to make our investment services strategy more efficient and at the same time streamline our product line in order to be abreast with the current market condition. Consequently, upon the recommendation of our Mutual Fund Manager with the approval of the Capital Market Authority (CMA), we have determined to terminate the offering of the below funds:
In view of this, we wish to inform you that the funds' last valuation point will be between 21 September and 23 September 2008, after covering the 60 day notification period required by CMA. On valuation date, unless you advise us of your further instructions, we will credit your cash account mentioned in the mandate file for the redemption proceeds in cash and in full without any cost. Therefore, kindly ensure to activate your account with us. In the event, you wish to receive your redemption proceeds into another cash account, please advise immediately.
Alternatively, HSBC Saudi Arabia would like to offer you an option to switch your current available unit holdings in the terminating fund to any of our active IBSA Mutual Funds free of subscription charges.
For further information, please contact the following telephone numbers:
Central Province Area : 01 470 6535 Ext. 2232/2699
Eastern Province Area : 03 882 6000
Western Province Area: 02 664 1555
