Qatar Investment Fund has a discontinuation vote scheduled this year. The Board is thinking about conducting a tender offer at a 1% discount to net asset value (less associated expenses) for 10% to 15% of the fund. They are working this out on a sliding scale whereby if the fund trades at an average discount of 10%-11% they’ll redeem up to 10%, average discount 11%-12% then 11% redemption, etc. up to 15%. They’ll do this in Q4 of 2015. Then, if the discontinuation vote isn’t passed (i.e. the fund is going to carry on), they are thinking of having a further tender offer on the same terms in Q4 2016.
QIF : Qatar Investment Fund discontinuation vote proposals