Skip to main content
  • Wealth management
  • Asset management
  • Wealth management
  • Asset management
  • Individual investor
  • United Kingdom
  • MyRathbones login
  • Financial Planning login
  • Donor Advised Fund login
Home
  • Funds and strategies
    Funds and strategies

    Visit our fund centre for our full fund range

    Funds and strategies
    • Equities

      A Luxembourg-domiciled SICAV version of our UK-based stock-picking fund with investments in the UK and abroad

    • Fixed Income

      A Luxembourg-domiciled SICAV version of 2 bond funds offering different risk levels, returns, and markets

    • Multi-asset

      A Luxembourg-domiciled SICAV version of 3 genuinely active, globally unconstrained, directly invested strategies

    • How to invest

      Invest in our funds by contacting us directly or using a third party platform

  • Literature
    Literature library

    Search our full library for information about a specific fund

    Literature
    • Assessment of value

      See the assessment of value reports for our funds

    • Glossary

      Search our A-Z for definitions of industry terms and acronyms

  • About us
    About us

    An active management house, offering a range of investment solutions

    About us
    • Our people

      Search our peoples directory

    • Awards

      See our fund awards from rating agencies and trade publications, dating back to 2002

    • Responsible investment

      Our responsible investment principles ensure that the companies we invest in operate in the long-term interests of shareholders

    • Media centre

      Read the latest Group news

    • MIFIDPRU 8
  • Insights
    Fund insights

    Listen to our fund managers discuss market news and investment opportunities

    Insights
    • In the Know blog

      Read market commentary from our fund managers

Let's talk

Search

Changes to Rathbone SICAV Ethical Bond Fund (“SICAV EBF”)

12 August 2024

<p>This letter is for information only. &nbsp;For shareholders that invest in Rathbone SICAV Ethical Bond Fund, you do not need to take action, but we recommend that you give this letter careful consideration in order to fully understand the changes.</p>
<p>In our capacity as Distributor and Investment Manager of the Rathbone Luxembourg Funds SICAV (“the Company”) to inform about changes to one of the sub-funds.&nbsp;</p>

Article last updated 22 July 2025.

This letter is for information only.  For shareholders that invest in Rathbone SICAV Ethical Bond Fund, you do not need to take action, but we recommend that you give this letter careful consideration in order to fully understand the changes.

In our capacity as Distributor and Investment Manager of the Rathbone Luxembourg Funds SICAV (“the Company”) to inform about changes to one of the sub-funds. 

What’s happening and why

We are making some changes to Rathbone SICAV Ethical Bond Fund (“SICAV EBF”), as described below. Changes will be effective from Monday 12th August 2024.

Renaming of “Class L” and updating its characteristics

We are renaming the SICAV EBF “Class L” shares to “Class Z” to reflect its intended characteristics and investor suitability. During ongoing reviews of our overall product range, to ensure products remain fit for purpose for all investors, we determined the SICAV EBF “Class L” was inadvertently priced in line with that for Institutional-type strategic partners to Rathbones.

The Prospectus defines “Class Z” as: “is intended for subscription by a) Institutional investors within the meaning of Article 174 of the 2010 Law; and b) only with an agreement already in place with the Investment Manager; and c) only approved at the discretion of the Board of Directors.”

There is no change to the way in which the sub-fund or its classes will be managed, nor to the investment objective, investment policy or risk profile.

The “maximum management fee” as stated within the Prospectus, i.e., 0.49%, is not changing.

We are, however, aligning SICAV EBF Class Z to those characteristics described in Section “X. Shares” of the Prospectus. In other words, the “minimum initial investment”, “minimum subsequent subscription” 
and “minimum holding amount” will be adopted. These are “£100mn” equivalent, “£500” equivalent, and “£1mn” equivalent, as described in the Prospectus.

In good faith, however, we will retain your current “Class L”-equivalent share class terms, with generally lower amounts to reflect client-type suitability.

This renaming of SICAV EBF “Class L” to “Class Z” is a tidy up exercise, which we hope will not greatly inconvenience investors. Impacted ISINs are provided in Appendix 1 of this letter.

SFDR prospectus clarifications

We are also making clarifications to our Sustainable Finance Disclosures Regulation (“SFDR”) Annex in the prospectus (i.e., Prospectus Appendix A4 pre-contractual disclosures).

As part of our regulatory requirements, we provide various SFDR disclosure requirements within the Prospectus and annual report and accounts (“periodic report”), primarily in relation to SICAV EBF. As these documents are updated at different times, we are taking the opportunity now to improve the alignment between language within the prospectus and periodic report.

The main clarifications to the prospectus, to better align to our published periodic reports, are as follows:

— Sustainability indicators – we have expanded on what our sustainability indicators are to better report against them in our periodic report. For example, “Indicator: Adherence to exclusion standards (%)” sets out that we aim to measure against our exclusion standards and in our periodic reports the extent to which we were able to do this over the reported period. 

— Principal Adverse Impacts (“PAIs”) - we have expanded on how only principal adverse impacts aligned to the investment strategy and objective are considered. This is done as the sub-fund applies negative screening criteria to exclude any issuers in breach of any of the exclusion criteria.  For example, “Exposure to controversial weapons (anti-personnel mines, cluster munitions, chemical weapons and biological weapons)”.

The clarifications made to the SFDR Annex do not change to the way in which the sub-fund or its classes will be managed.

We hope these updates makes it more clear to investors on how we measure and report to meet our SFDR requirements, in both the Prospectus and periodic report.

If you have any questions, please get in touch at transferagency@lu.hsbc.com. 
 

Yours faithfully,

Tom Carroll (on behalf of the Board of Directors for Rathbone Luxembourg Funds SICAV)

Appendix: Impacted Share Classes
 

Sub-Fund Share Class (Current Name) Share Class (New name) ISIN
Rathbone SICAV Ethical Bond Fund L EUR Acc Hedged Z EUR Acc Hedged LU1396461185
  L EUR Inc Hedged Z EUR Inc Hedged LU1396461425
  L GBP Acc  Z GBP Acc  LU1396461268
  L GBP Inc Z GBP Inc LU1396461698
  L USD Acc Hedged Z USD Acc Hedged LU1396461342
  L USD Inc Hedged Z USD Inc Hedged LU1396461771
  L CHF Acc Hedged Z CHF Acc Hedged LU1778938545
  L CHF Inc Hedged Z CHF Inc Hedged LU1778938628

Let's talk

Ready to start a conversation? Please complete our enquiry form, we look forward to speaking with you

Enquire
Rathbones Logo
  • Important information
    • Terms and conditions
    • Modern Slavery Statement
    • Accessibility
    • Privacy
    • Consumer Duty
    • Cookies
    • Update cookie preferences
    • Sitemap
  • Important Information
    • Complaints
    • Voting disclosure
    • Assessment of value reports
    • TCFD Reports
    • Financial Ombudsman Service
    • Financial Services Compensation Scheme
    • Status of our websites
Address

Rathbones Asset Management
30 Gresham Street
London
EC2V 7QN

Rathbones Asset Management Limited is authorised and regulated by the Financial Conduct Authority and a member of the Investment Association. A member of the Rathbone Group. Registered Office 30 Gresham Street, London EC2V 7QN. Registered in England No 02376568.

© 2025 Rathbones Group Plc Incorporated and registered in England and Wales. Registered number 01000403

Follow us
  • LinkedIn
Welcome to Rathbones Asset Management SICAV Adviser Site
This site is designed for international financial advisers and investment professionals. If you are not a financial adviser or investment professional, please visit <a href='/en-int/asset-management/individual-investor'>our homepage</a>.

The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.