(UCITS authorised by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011, as amended)

NOTICE TO UNITHOLDERS

Mediolanum International Funds Limited (the “Manager”), manager of Mediolanum Best Brands (the “Fund”), wishes to notify Unitholders of Mediolanum Invesco Balanced Risk Coupon Selection (the “Sub-Fund”) that the Manager, in conjunction with the relevant Portfolio Manager, has determined to re-classify the Sub-Fund from Article 6 to Article 8 under Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector (“SFDR”). In order to constitute as an “Article 8” fund, Article 8(1) of the SFDR provides that a fund must promote environmental and/or social characteristics and invest in companies that follow good governance practices. 

Change in classification of Sub-Fund from Article 6 to Article 8 under SFDR

The Sub-Fund is currently classified as an Article 6 fund under SFDR. The Manager (in conjunction with the relevant Portfolio Manager) has since reviewed the investment process of the Sub-Fund and considers that the Sub-Fund promotes environmental and social characteristics in a way that meets the specific criteria contained in Article 8 of SFDR. Accordingly, Unitholders are advised that the Manager (in conjunction with the relevant Portfolio Manager) considers it appropriate to re-classify the Sub-Fund as an Article 8 fund under SFDR.   

Accordingly, the investment policy of the Sub-Fund as set out in the Prospectus will, subject to Central Bank approval, be amended in order to, inter alia, disclose the manner in which the Sub-Fund promotes certain environmental and/or social characteristics and information on how those characteristics are met in a way that meets the specific criteria contained in Article 8 of SFDR.

The investment policy shall include detail of how the Manager and relevant Portfolio Manager will primarily select investments (whether such investments are made directly or indirectly) which it believes will generate an exposure to companies, issuers and/or collective investment schemes which promote certain environmental and social characteristics. The Sub-Fund will also promote investments into companies which follow good governance practices.

The Manager and relevant Portfolio Manager will use various environmental, social and corporate governance (“ESG”) tools such as external research and data and internal proprietary tools as well as an internal assessment of the strengths and weaknesses of engagements conducted by the Manager. These ESG screening tools will help with the identification of companies and/or collective investment schemes that, in the Manager or relevant Portfolio Manager’s opinion, have most successfully integrated environmental and social characteristics into their management strategies.

The Sub-Fund’s ESG investment strategy will be monitored on a continuous basis through the assessments outlined above to ensure that the Sub-Fund continues to meet all of the specific criteria contained in Article 8 of SFDR.

The Prospectus will be updated to reflect the above changes on or about 9 November 2022, a copy of which will be available at http://www.mifl.ie/products/best-brands

Mediolanum International Funds Limited

Dublin,  21 October 2022