Notice to Unitholders of Gamax Funds FCP - Maxi-bond 

January 09 2024

Mediolanum International Funds Limited

4th Floor, The Exchange, Georges Dock, IFSC, Dublin 1, Ireland


The board of directors of Mediolanum International Funds Limited (the “Board of Directors”), the management company (the “Management Company”) (“MIFL”) of Gamax Funds FCP would like to inform you that with effect as of 1 January 2024 the following amendments will be made in the prospectus of Gamax Funds FCP (the “Prospectus”) in particular:

I.         Amendments to the Fund's annex      

As detailed in the Prospectus, the Management Company is entitled to a performance fee in respect of each Unit Class in issue at the Valuation Day prior to the Calculation Date equal to a percentage of the amount by which the Net Asset Value per Unit of each Unit Class (before the deduction of the applicable performance fee and adjustment for any distributions) exceeds the Performance Target Value as at the Valuation Day prior to the Calculation Date.

In a given Calculation Period, the Performance Target Value for each Unit Class is defined as being equal to the high-water mark increased by the relevant hurdle rate (“Hurdle Rate”) for that Calculation Period only.

For the purpose of the calculation of the performance fee, the current Hurdle Rate for the Fund as set out in the Prospectus will be amended to reflect that the Hurdle Rate for the Fund will be 3% (in place of 1%).

The Management Company deems the changes to the Hurdle Rate appropriate in light of current market rates and to be in the best interests of unit holders of the Fund. The effect of the changes to the Hurdle Rates is that a higher performance must be achieved in any given Calculation Period (the first being from January 1 to 31 December 2024) before a performance fee is potentially payable to the Management Company, in accordance with the performance fee calculation, as set out in the Prospectus.


Capitalized terms not defined herein have the meaning as set forth in the Prospectus.

An updated version of the Prospectus, dated “January 2024”, will be made available at the registered office of the Management Company and at

Dublin, 09 January 2024

The Board of Directors