CFF: Investec Fund Series migrate to CFF
Monday 17 December 2012
investment fund shares in funds handled by Investec Asset Management UK and listed in the associated spreadsheet, will use the Central Facility for Funds (CFF) service.
All customers of Clearstream Banking1 that hold positions in these investment fund shares will immediately benefit from the process and service improvements implemented with the launch of CFF on 26 February 2007.
Funds available in Clearstream Banking handled by Investec Asset Management UK as transfer agent (please refer to the attached spreadsheet).
Migration Day (MD): Monday 17 December 2012.
Fund Issuance Account (FIA): 10016Timeline for process adaptations:
- All trades on trade date MD and later will use the CFF processes and settle against FIA 10016, of settlement agent State Street Bank Luxembourg S.A., in Clearstream Banking.
- Pending settlements from trade date MD-1 and earlier continue to be settled with the existing process.
- Clearstream Banking will automatically transfer all positions in the overnight processing preceding MD. No action is required by Clearstream Banking account holders.
- All transfers (In/Out or between accounts) must be performed using the CFF processes for MD and later.
- Transfers that do not follow the CFF processes can be executed, at the latest, on the business day MD-1.
- Pending transfers that do not follow the CFF processes will be rejected by Clearstream Banking in the overnight processing preceding MD and will need to be re-instructed by the customer on MD.
- Customers are recommended to instruct transfers by end-of-day MD-2 in order to ensure execution before the migration.
- All corporate actions with Record Date MD and later will use the CFF processes.
For further information about the migration, please contact as appropriate:
Investment Funds Services Helpdesk
For more general information regarding Clearstream Banking products and services, customers may contact Customer Service or their Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in the Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500 (CBF) and Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).