Gamax FCP - Notice to Unitholders of Gamax Funds

The board of directors (the “Board of Directors”) of Mediolanum International Funds Limited, the management company (the “Management Company”) of Gamax Funds FCP (“Gamax Funds”), would like to inform you that with effect as of 15 July 2020, the following amendments will be made in the Prospectus of Gamax Funds (the “Prospectus”):

1. I. Termination and replacement of the current independent auditor of the Fund

With effect as of January 1, 2020, Deloitte is replaced by PricewaterhouseCoopers, Société Coopérative as independent auditor of the Fund.

1. II. Amendments to the investment policy of the sub-funds Gamax Funds – Asia Pacific and Gamax Funds - Junior

Further to the amendment on 8 November 2018 of the German Investment Taxation Act (Investmentsteuergesetz) by the Tax Act for the Prevention of VAT Revenue Losses from Trading with Goods over the Internet and Amendment of Further Tax Provisions (Gesetz zur Vermeidung von Umsatzsteuerausfällen beim Handel mit Waren im Internet und zur Änderung weiterer steuerlicher Vorschriften), the investment policy of the sub-funds Gamax Funds – Asia Pacific and Gamax Funds – Junior will be amended as follows:

“The foregoing notwithstanding, however, at least 50% of the Fund’s value is continuously invested in equity participations within the meaning of the InvStG.”

1. III. Formal amendments to the Prospectus a. Organization structure of the management company
2. b. Other changes

The following formal changes to the Prospectus will be implemented:

The composition of the Board of Director will be updated in section “Member of the Board of Directors”.

Other minor formal changes were implemented for consistency.

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Capitalized terms not defined herein have the meaning as set forth in the Prospectus.

Having regard to the Grand-Ducal Regulation of 18 March 2020 introducing certain measures in the fight against the spread of the Covid-19, which declared the state of emergency in Luxembourg for a period of three months in order to contain and slow the spread of Covid-19 and which imposed movement restrictions for Luxembourg residents, this notice, dated 19 June 2020, will also be made available

1. (i) at the registered office of the management company; and

1. (ii) by another means of communication ensuring access to the information (including, but not limited to, emails) to unitholders who have individually agreed to receive notices by such means of communication.

An updated version of the Prospectus, dated July 15, 2020, will be made available at the registered office of the management company.

Dublin, 19 June 2020

The Board of Directors