In view of the persisting adverse market conditions, the limited stock market liquidity, and the uncertain prospect of achieving positive long-term risk-adjusted returns in the markets within the fund's universe, the Board of Directors of the Bellevue SICAV Funds has decided to terminate Bellevue African Opportunities Fund.

The Board decided to merge this fund with the Bellevue Emerging Market Healthcare Fund.

This decision was expedited by the current situation in Egypt.

"We believe that this decision is in the best interest of our investors and we thank them for their trust and loyalty over the years," the Board of Directors said.