Open-end investment fund KB INVEST- Stocks

The profile of the fund investor’s

According to the legal regulation, the owner’s of fund shares can be domestic and foreign institutional and individual investors who are eligible for investing in this type of vehicle. The only restriction is the minimum amount of initial capital that needs to be committed. The fund investment strategy and the selection of the financial instruments suggest that this should be regarded as medium-term investment with clearly defined investment horizon. The fund is intended for investors how want to commit their capital for more than one year (recommended investment horizon).

Investment policy and objectives

The investment strategy defines the instruments that will be included in the fund portfolio and how the long-term fund objectives will be met. The fund aims to ensure broad diversification of investments across countries, sectors and currencies. This means that the largest share in the Fund portfolio will be foreign equities. The Company, through its active investment strategy, will try to provide adequate sectoral and currency exposure based on the expectations for the economic cycle. The selection of financial instruments, which will be a building block of Fund’s portfolio, carries out high level of risk.

The Company will invest the fund assets in the following instruments:

ASSET CLASS A

• - Investment in shares without geographical restrictions;

ASSET CLASS B

• - Investment in deposits with banks in Republic of North Macedonia with maturity less than one (1) year;
• - Money market instruments traded on organized exchanges and issued by entities from Republic of North Macedonia, as well as EU and OECD member states;

ASSET CLASS C

• - Allocation in investments funds which have specific sectoral and/or geographical specialization, under condition that the management fee is less than 2,5%.

Targeted Fund’s portfolio structure

Payment

The payment can be done on the account of open-end investment fund KB Invest Stocks at Komercijalna Banka AD Skopje, acc. No. 30000004604529.

Minimum amount of initial investment

1.000,00 MKD

Management fee

The Company is charging annual management fee in amount of 2,5% of the fund net assets value.

Custody bank fee

The Company, from the fund assets, pays annual fee to the Custody bank based on the value of fund assets, by using the following rates: 

• Up to 1.000.000.000,00 MKD 0,21%
• From 1.000.000.001,00 – 1.800.000.000,00 MKD 0,19%
• Above 1.800.000.001,00 MKD 0,17%

Expenses for issuing shares*

The fee for issuing shares is calculated on the amount of the payment, by using the following rates:

• Up to 500.000,00 MKD 3,5%
• From 500.001,00 MKD up to 1.000.000,00 MKD 3,0%
• From 1.000.001,00 MKD up to 2.000.000,00 MKD 2,0%
• From 2.000.001,00 MKD up to 3.000.000,00 MKD 1,0%
• Above 3.000.000,00 MKD 0,5%

Expenses for buyout and payment of shares

An expense for buyout and payment of fund shares (or exit fee) will be charged if redemption is made within 1 year from the moment when the fund shares were bought. An expense for buyout and payment of fund shares is calculated on the entire amount of payment, by using the following rates: 

• Up to 1 year 1,00%
• More than 1 year 0,00%

*The Company reserves the right to reduce, or entirely release the investor from the obligation for paying entry fee with prior approval from the Board of Directors.