April 29, 2003 — Shareholders of Investec Group Ltd.’s U.S.-registered mutual funds approved Guinness Atkinson Asset Management LLC as the new manager and distributor of the Investec funds available to U.S. residents.
As a consequence, the former Investec Asia Focus Fund (IASMX) will now be called as Guinness Atkinson Asia Focus Fund.
The former Investec China & Hong Kong Fund (ICHKX) will now be called Guinness Atkinson China & Hong Kong Fund. Moreover, the stockholders of the Investec Mainland China Fund (ICHNX) approved the merger of that fund into the new China & Hong Kong Fund.
In addition, the former Investec Wired Index Fund (IWIRX) will now be known as the Guinness Atkinson Global Innovators Fund. Whereas the Wired Index Fund was an index product, the Global Innovators Fund will be actively managed by Tim Guinness.
The company noted that these actions followed a decision by Investec Group, the parent company of the former manager, Investec Asset Management U.S. Ltd., to shift the focus of Investec Asset’s business efforts in North America to the distribution of the firm’s offshore funds.