Swing Pricing: Protecting holders from fund dilution
Preamble: Fundamental principles adopted by Mirova
In its wish to safeguard the interests of its long-term holders, Mirova has decided to introduce the swing pricing mechanism based on the methodology recommended by the French Asset Management Association's (AFG) charter.
The list below indicates the funds for which Mirova set up the swing pricing. This device is triggered when a trigger threshold percentage of the Fund's net assets is reached or exceeded.
- Mirova Euro Sustainable Aggregate Fund
- Mirova Euro Sustainable Corporate Bond Fund
- Mirova Green Bond - Global
A shareholder who purchases or redeems an amount below the threshold is not guaranteed to be executed on an unswung NAV. Indeed, the swing pricing trigger is appreciated globally, taking into account all inflows/outflows, ie the net balance of subscriptions / redemptions of all shareholders.
Moreover, Mirova has the right to change at any time the swing pricing parameters, especially during a crisis situation.
FAQ is available on Mirova’s website. The purpose of these FAQs is to respond to the various questions of holders regarding the working of the mechanism and its impacts. It applies to professional and non-professional clients within the meaning of the Markets in Financial Instruments Directive.
• This document is available at the Mirova website.
• This document can also be obtained on request from the Distribution Services Department by e-mailing firstname.lastname@example.org or sending a letter to:
Direction « des Services Clients à la Distribution »
21 Quai d’Austerlitz – 75634 PARIS CEDEX 13