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Notice to unit-holders of UCITS : Swing Pricing

Notice to unit-holders of UCITS

Dorval Convictions PEA*
Dorval Convictions
Dorval Drivers Europe
Dorval Drivers SMID Continental Europe*
Dorval European Climate Initiative*
Dorval Global Allocation
Dorval Global Conservative*
Dorval Global Vision*
Green-Got Sustainable Future*

  • This fund is not registered in Luxembourg.

Paris, 1 April 2026

Directive (EU) 2024/927 of the European Parliament and of the Council of 13 March 2024, which amends the AIFM and UCITS directives, provides for the widespread deployment of two liquidity management tools in most European UCITS and AIFs.

The purpose of this text is to improve and harmonise the use of these tools within the European Union and thus enable better protection of investors in the event of a crisis or tensions on the markets.

In this context, and in view of the nature of the funds listed above, Dorval Asset Management has decided to supplement the redemption capping mechanism (“gates”) already present in these funds by introducing a net asset value adjustment mechanism (“swing pricing”). These changes will not be subject to approval by the Autorité des marchés financiers and do not require any action on your part.

This “swing pricing” mechanism has already been introduced for the FCP Dorval European Climate Initiative* on 1 April 2026. It will be introduced for the other FCPs over the coming weeks.

  • This fund is not registered in Luxembourg.

About the “swing pricing” mechanism

“Swing pricing” is a mechanism whereby the net asset value is adjusted upwards or downwards in cases where the total net subscription / redemption orders of investors on a net asset value exceeds a pre-established threshold determined by the management company, so that incoming or outgoing unit-holders bear the cost of restructuring the portfolio to manage these inflows and outflows. This mechanism is protective for unit-holders who remain invested in the fund.

The regulatory documents for these FCPs are available on simple request from the management company: DORVAL ASSET MANAGEMENT, 111, boulevard Pereire – 75017 Paris, Tel: +33 1 44 69 90 44, e-mail: informations@dorval-am.com, and on its website www.dorval-am.com, which we invite you to consult.

Following on from this operation, we invite you to contact your usual representative, who is at your disposal for any further information, and we remind you of the necessity and importance of reading the prospectus, the key information document (KID) and, where applicable, the pre-contractual SFDR appendix of the fund in which you are investing or intend to invest.