Omba Moderate Fund Merger

Background for Merger
Omba Advisory & Investments Ltd would like to submit for approval a proposal for the merger of the Omba Moderate Risk Global Allocation fund (the “Moderate Fund”) from the Prescient Global Funds ICAV (PGF”) to the newly established “Omba Moderate Risk Global Allocation fund” on the Omba Investments ICAV.

Launched in July 2019 the Moderate fund has been a subfund under PGF with a current AUM of approximately $46m.

As the Omba fund range continues to expand, a decision was made in 2021 to establish an Omba umbrella, namely Omba Investments ICAV which was authorised by the Central Bank of Ireland in October 2021. As part of this project the intention was for all Omba funds to sit under this umbrella to help achieve economies of scale and unify the fund brand and investor experience. As such, it is now proposed to merge the Moderate fund with the newly established Moderate sub-fund under the Omba Investments ICAV.

Approval for the merger will be requested from existing shareholders at an Extraordinary General Meeting to be scheduled in Q4 2022 after Central Bank of Ireland approval.
Omba are working with service providers including NT, EY and Prescient on the Merger plan and there is very close alignment between both the subfunds and ICAVs.

Impact on Investors
– As will be noted in the Common Terms some investors may incur Irish tax reporting consequences of the merger and are requested to seek separate tax advice.
– The only material Supplement change is to the “Dealing Deadline” for subscriptions and redemptions which changes from “10:00am (Irish time) on the Business Day immediately preceding the relevant Dealing Day or such other time …” to “10:00am (Irish time) on the relevant Dealing Day or such other time …”. This change is advantageous to investors as they receive NAV on the subscription day.
– The Investment Policy, Objective and Manager of the Merging and Receiving fund remain exactly the same and the new Moderate fund continues to invest in a long only ETF strategy suitable for capital appreciation over medium to long term.
– PGF and OII share common service providers as outlined below and there will be minimal operational impact.
– There is no change in fees between the funds and the investor TER remains capped at 0.8%

Proposed Timeline
Timelines are will be finalised following Central Bank Approval and notification of EGM.

Service Provider alignment

Prescient Global Funds ICAVOmba Investments ICAV
Legal FormIrish Collective Asset-management Vehicle (ICAV)Irish Collective Asset-management Vehicle (ICAV)
Sub-fundsOMBA Moderate Risk Global Allocation FundOMBA Moderate Risk Global Allocation Fund
Supervisory AuthorityCentral Bank of Ireland (CBI)Central Bank of Ireland (CBI)
Management CompanyPrescient Fund Services (Ireland) LimitedPrescient Fund Services (Ireland) Limited
AuditorErnst & YoungErnst & Young
DepositaryNorthern Trust Fiduciary Services (Ireland) LtdNorthern Trust Fiduciary Services (Ireland) Ltd
Irish Legal AdvisersMatheson LLP70ByrneWallace
AdministratorPrescient Fund Services (Ireland) LimitedPrescient Fund Services (Ireland) Limited
Investment ManagerOmba Advisory & Investments LtdOmba Advisory & Investments Ltd
SecretaryNorthern Trust International Fund Admin. ServicesNorthern Trust International Fund Admin. Services

Contact Details
For any questions, do not hesitate to contact the Investment Manager Omba Advisory & Investments Ltd at the following contact details:
Phone number: +44203 176 8400
Email address: funds@ombainvestments.com