Company name Macquarie Cllctve Fd
Headline Appointment of Sub-Investment Manager


RNS Number : 6225J
Macquarie Collective Funds plc
13 June 2014
 



 

COMPANY ANNOUNCEMENT

 

 

For Immediate Release

13 June 2014

 

Macquarie Collective Funds plc

(the "Company")

 

Delaware Investments U.S. Large Cap Growth Fund

(the "Fund")


 

Re: Appointment of Sub-Investment Manager

 

 

The directors of the Company wish to announce that Jackson Square Partners, LLC (the "Sub-Investment Manager") has been appointed by Delaware Investment Advisers, (the "Investment Manager") as sub-investment manager of the Fund with effect from 12 June 2014. The Sub-Investment Manager has been appointed pursuant to a Sub-Investment Management Agreement dated 12 June 2014.

 

The Sub-Investment Manager is a limited liability company organized under the laws of Delaware having its principal place of business at 101 California Street, Suite 3750, San Francisco 94111, U.S.A. and is a registered investment advisor under the U.S. Investment Advisers Act of 1940 (as amended) and is regulated by the U.S. Securities and Exchange Commission. The Sub-Investment Manager had assets under management of U.S.$25.54 billion as of 1 May 2014.

 

The Sub-Investment Management Agreement provides that the Sub-Investment Manager shall be responsible for managing the investments of the Fund. The Sub-Investment Management Agreement shall continue in force until terminated immediately at any time by any party on not less than 60 days' notice in writing. Notwithstanding the foregoing, the Sub-Investment Management Agreement may be terminated by any party forthwith by notice in writing to the other parties if at any time: (a) another party shall go into liquidation (except a voluntary liquidation for the purpose of reconstruction or amalgamation upon terms previously approved in writing by the other parties) or be unable to pay its debts or commit any act of bankruptcy under applicable law or if a receiver is appointed over any of the assets of such other party or if some event having an equivalent effect occurs; (b) another party ceases to be permitted to perform its duties under any applicable laws or regulations; (c) another party shall commit any material breach of the agreement and shall not have remedied such breach (if capable of remedy) within 14 days of notice requiring the same to be remedied; or (d) an examiner, administrator or similar person is appointed to any other party.

 

The Sub-Investment Manager will be liable to the Investment Manager for any losses, liabilities, actions, proceedings, claims, costs and expenses ("Losses") sustained by the Company or its shareholders or by the Investment Manager by reason of the Sub-Investment Manager's fraud, bad faith, wilful default, reckless disregard or negligence in respect of its obligations and duties under the agreement. The Company, on behalf of the Fund, shall indemnify and hold harmless solely from the assets of the Fund, the Sub-Investment Manager and each of its directors, officers and authorised agents against all or any Losses (including without limitation commercially reasonable legal fees and expenses) which may be suffered or incurred by the Sub-Investment Manager in the performance of its duties save where such Losses arise due to the fraud, bad faith, wilful default, reckless disregard or negligence of the Sub-Investment Manager, its directors, officers or authorized agents.

 

The fees of the Sub-Investment Manager shall be discharged by the Investment Manager. 

 

 

Enquiries:

 



Kinetic Financial Services (Ireland) Limited

Amy Missen

Phone: + 353 1 425 4317



 

 

This announcement has been issued through the Companies Announcement Service of the Irish Stock Exchange.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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