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NESTOR Fund and DKO Fund: Notice to Unitholders

The investment policy and fund management of the individual sub-funds remain unchanged. Change of Management Company, Central Administration Agent, Registrar and Transfer Agent and change of fees.

NESTOR Investment Management S.A.
3, rue Gabriel Lippmann L-5365 Munsbach
R.C. S. Luxembourg B 45.832

LRI Invest S.A.
9A, rue Gabriel Lippmann L-5365 Munsbach

R.C.S. Luxembourg B 28.101

NOTE: This is a notice which must be sent to the unitholders without delay within the meaning of Section 298 (2) KAGB.

DKO funds (Umbrella)
Notice to the unitholders of the sub-funds

DKO-Aktien Global (DF)
(ISIN LU0138410633 / WKN 764384)

DKO-Aktien Nordamerika
(ISIN LU0068971778 / WKN 974498)

DKO-Optima
(ISIN LU0092225969 / WKN 989073)

DKO-Renten EUR
(ISIN LU0065085960 / WKN 971242)

DKO-Renten USD
(ISIN LU0103579933 / WKN 926188)

DKO-Renten Hybrid
(ISIN LU0188083231 / WKN A0B9E9)

DKO-Renten Spezial
Unit Class T (ISIN LU0386792104 / WKN A0Q9CB)

NESTOR funds (Umbrella)
Notice to the unitholders of the sub-funds

NESTOR Far East funds
Unit Class B (ISIN LU0054738967 / WKN 972880)
Unit Class V (ISIN LU1433074256 / WKN A2ALWP)

NESTOR Eastern Europe Fonds
Unit Class B (LU0108457267 / WKN 930905)
Unit Class V (LU1433074413 / WKN A2ALWR)

NESTOR Africa Fonds (i. L.)
Unit Class B (ISIN LU0407232692 / WKN A0RELJ)
Unit Class V (ISIN LU1433073878 / WKN A2ALWK)

NESTOR Australia funds
Unit Class B (ISIN LU0147784119 / WKN 570769)
Unit Class V (ISIN LU1433073951 / WKN A2ALWL)

NESTOR Gold funds
Unit Class B (ISIN LU0147784465 / WKN 570771)
Unit Class V (ISIN LU1433074330 / WKN A2ALWQ)

NESTOR Europa funds
Unit Class B (ISIN LU0054735948 / WKN 972878)
Unit Class V (ISIN LU1433074173 / WKN A2ALWN)

NESTOR Investment Management S.A., the current Management Company of the above-mentioned umbrella funds, which as fonds commun de placement à compartiments multiples are subject to the provisions of Part I of the Law of 17 December 2010 on Undertakings for Collective Investment, has - subject to the approval of the Luxembourg supervisory authority Commission de Surveillance du Secteur Financier ("CSSF") - revised the sales documents of the funds and informs the investors of the above-mentioned sub-funds about the following changes, which will be disclosed in the respective sales prospectus as of 1 January 2021:

1. change of the management company

LRI Invest S.A., which previously acted as the central administration agent for the funds, will in future manage both funds as the management company:
Previously: NESTOR Investment Management S.A., 3, rue Gabriel Lippmann, L-5365 Munsbach.
In the future: LRI Invest S.A., 9A, rue Gabriel Lippmann, L-5365 Munsbach.

2. change of the Central Administration Agent and the Registrar and Transfer Agent

The activity of the Central Administration Agent is transferred to Apex Fund Services S.A.:
Previously: LRI Invest S.A., 9A, rue Gabriel Lippmann, L-5365 Munsbach.
In future: Apex Fund Services S.A., 3, rue Gabriel Lippmann, L-5365 Munsbach.

The activity of Registrar and Transfer Agent is transferred to Apex Fund Services S.A.:
Previously: European Depositary Bank SA, 3, rue Gabriel Lippmann, L-5365 Munsbach.
In future: Apex Fund Services S.A., 3, rue Gabriel Lippmann, L-5365 Munsbach.

3. Clarification of the notation of the comparative indices

The comparative indices of the sub-funds have been specified with regard to their names.

4. modification of the fees

For all NESTOR sub-funds, with the exception of the sub-fund NESTOR Africa funds (i. L.), which is in liquidation, the following change is made to the fee structure:

Type of remunerationRemuneration in the pastRemuneration in the future
Management fee (including central administration fee and fee for the
and remuneration of the Information Agent in Germany)*
Unit Class B: 1,40% p.a.
Unit Class V: 1,00% p.a. 
Unit Class B: 1,20% p.a.
Unit Class V: 0,80% p.a.

A minimum management fee of EUR 30,000 p.a. applies to the sub-funds.

The following changes will be made to the fee structure for all DKO sub-funds:

Type of remunerationRemuneration in the pastRemuneration in the future
Management fee (including central administration fee and fee for the
and remuneration of the Information Agent in Germany)*
up to 0,35% p.aup to 0,3% p.a.

A minimum management fee of EUR 30,000 p.a. applies to the sub-funds.


The remuneration of the Depositary and the Registrar and Transfer Agent will be reported separately in future:

Type of remunerationRemuneration in the pastRemuneration in the future
Depositary fee*0,10% p.a. 0,08% p.a.
Registrar and Transfer Agent fee*0,02 % p.a.

For all sub-funds, the minimum depositary fee is EUR 7,500 p.a.

* in % of the net sub-fund assets

5. Other necessary updates

Furthermore, editorial adjustments have been made.

If unitholders do not agree with the changes, they have the right to redeem their respective units free of charge at the Management Company, the Depositary and at any Paying Agent until 2:00 p.m. (Luxembourg time) on 30 December 2020.

The current Prospectus of both Umbrella Funds, including the respective Management Regulations, the Key Investor Information Document as well as the annual and semi-annual reports are available free of charge at the registered office of the Management Company, at the Depositary as well as at all Paying Agents.

Munsbach, 30 November 2020

NESTOR Investment Management S.A.
LRI Invest S.A.