NOTICE TO UNITHOLDERS OF GAMAX FUNDS FCP

I. Shortening of the payment period with regard to the subscription price
The deadline for payment of the subscription price in case of acquisition of units of the sub-funds of the Fund has been shortened to two bank business days after the relevant valuation day. 

II. Investment Tax Reform Act
Further, it has been clarified in the descriptions of the investment policies of the two subfunds GAMAX Funds FCP - Asia Pacific and GAMAX Funds FCP - Junior in the prospectus that at least 51% of the value of the respective sub-fund will continuously be invested in equity participations within the meaning of article 2 (8) of the German Investment Tax Reform Act. 

Such clarification does not result in a change of the investment policy of the sub-funds. 

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In accordance with the provisions of the prospectus of the Fund, affected unitholders of the Fund disagreeing with the changes described under point I above may redeem their units of the respective sub-fund at the applicable net asset value per unit free of any charge from the date of this notice and until 10 September 2018

An updated version of the prospectus of the Fund, dated September 2018, will be made available at the registered office of the management company. 

Luxembourg, 6 August 2018 

The board of directors of GAMAX Management AG