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Mutual Funds (call us at 1-800-632-1320)
WHAT'S NEW: SPARX Asia Funds Announcements
SPARX ASISA FUNDS ("Trust")
June 25, 2009
SUPPLEMENT TO PROSPECTUS DATED FEBRUARY 27, 2009
SPARX Japan Fund SPARX Japan Smaller Companies Fund SPARX Asia Pacific Opportunities Fund SPARX Asia Pacific Equity Income Fund ("Funds")
SPARX Japan Fund
SPARX Japan Smaller Companies Fund
Hennessey Advisors, Inc. ("HAI") has announced that it has signed a definitive agreement with SPARX Investment & Research, USA, Inc., the current investment adviser to SPARX Japan Fund and SPARX Japan Smaller Companies Fund ("SPARX"), pursuant to which SPARX will recommend to the Trust's Board of Trustees that HAI be approved as the investment adviser to the Funds, subject to approval of shareholders of the Funds (the "Reorganization").HAI has announced that it intends to retain the Funds' current sub-investment adviser, SPARX Asset Management Co., Ltd., as the Funds' sub-investment adviser, subject also to approval of the Trust's Board of Trustees and the shareholders of the Funds.If the proposed Reorganization is approved by the Trust's Board of Trustees, a special meeting of the Funds' shareholders will be called to solicit their approval of the proposed Reorganization, and proxy materials containing information about HAI and the proposed Reorganization will be mailed to shareholders in advance of that meeting.It is expected that the proposed Reorganization, if approved by the Trust's Board of Trustees and the shareholders of the Funds, would be completed in September 2009.
SPARX Asia Pacific Opportunities Fund SPARX Asia Pacific Equity Income Fund
The Board has approved the liquidation of SPARX Asia Pacific Opportunities Fund and SPARX Asia Pacific Equity Income Fund, currently anticipated to take place on or about September 15, 2009 (the "Liquidation Date").Until the Liquidation Date, shareholders may exchange their shares for shares of SPARX Japan Fund or SPARX Japan Smaller Companies Fund or may redeem their shares; these Funds will no longer charge any redemption fees.
In order to provide for an orderly liquidation and to satisfy redemptions in anticipation of the liquidation, the Funds' investment portfolios will be liquidated over time and invested in money market instruments or other liquid assets until the Funds' assets are distributed to shareholders on the Liquidation Date.Each of these Funds will redeem all of its outstanding shares on the Liquidation Date at the net asset value of such shares after provision for all charges, expenses and liabilities of the Fund.SPARX will pay all liquidation-related expenses other than brokerage expenses.Liquidation proceeds will be paid entirely in cash.
You should consider the investment objectives, risks, charges and expenses of the SPARX Asia Funds carefully before investing. A prospectus may be downloaded and viewed with this and other information about the Funds or may be obtained by calling 800-632-1320. The prospectus should be read carefully before investing.
SPARX Asia Funds are distributed by Professional Funds Distributor, LLC.
The information provided herein is for general informational purposes only and should not be construed as anything other than the views of SPARX Investment and Research, USA, Inc. and the SPARX Group. Every investor should assess the appropriateness of the content herein with due consideration of his or her own unique situation The contents of this website is in no way intended to provide personalized investment planning, legal or tax advice for any individual(s). While the information contained herein has been procured from what are considered to be trustworthy sources, the SPARX Group cannot guarantee the correctness, comprehensiveness or consistency of the data or investment trends cited.
The information cited herein may showcase any number of views and opinions on macro-economies, securities markets or certain companies and industries based on varying methods of analysis and research. Therefore, specific views and opinions may vary depending on the method of analysis and research. Further, the SPARX Group and/or its affiliated companies may express or publish views and opinions that vary from the views and opinions contained in the material on this website. It is important to note the SPARX Group may invest in ways contrary to the views and opinions expressed on this website.
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