UOB Asset Management (UOBAM), the manager of UOB APAC Green REIT ETF, announced that it will require a participating dealer to pay cancellation compensation to the trustee of the fund.
The compensation is said to be about the “cancellation or withdrawal of any creation application or redemption application”.
The compensation will include “all reasonable costs incurred”, including brokerage fees, duties and charges and any losses suffered by the fund for having to unwind the trades as a result of the cancellation.
The change will take effect from Sept 26. It will be reflected in an updated prospectus to be registered by the Monetary Authority of Singapore (MAS) and an in amended and restated deed of the fund. The updated prospectus may be obtained at UOBAM’s website or at its office at UOB Plaza 2 from Sept 26 onwards.