About us

A mutual fund consists of assets, i.e. securities, funds, bonds and other tangible values. A fund’s assets are owned by investors and their ownership rights are expressed by unit certificates. An unlimited number of people can invest in a mutual fund. Every investor has a share in the fund, by which the investor participates in all the fund’s investments and returns.

A mutual fund does not have legal personality. Its assets are not a part of the asset management company’s assets.

A unit certificate is a security that expresses the ownership of a share in the fund’s assets.

After your invested amount has been credited to the fund’s account, you acquire the fund’s unit certificates. Their number depends on the fund’s exchange rate on the investment execution day. For example, if you invest EUR 100 and the fund’s exchange rate on that day is EUR 0.100000, your investment acquires 1 000 unit certificates of this fund.

The current value of your assets is determined by multiplying the number of unit certificates and the current value of one unit of the fund.

For example: As at 1 September 2016, the current value of one unit of the 1.PF Slnko, o.p.f. mutual fund is EUR 0.036638. You own 10 000 units. The current value of your assets as at 1 September 2016 is 0.036638 x 10 000 = EUR 366.38.

The current unit value can be found on our website – FUND PERFORMANCE. The number of your purchased units can be found in your IAD ONLINE, in an annual shareholder account statement or you can obtain information in person at the IAD Investments Client Centre.

No, a shareholder may redeem unit certificates at any time. Investments are not limited by time in any way. It is good if a shareholder follows our recommended minimum investment horizon.

The recommended investment horizon depends on the investment focus of the particular fund. In principle, the more risky securities in the fund’s portfolio, the longer the recommended investment horizon. A longer investment period reduces potential losses caused by a decrease in the value of securities.

Investment horizons are not fixed and it is up to each investor to choose the investment period. The company cannot prescribe how long investors have to keep their investments in a fund. A mutual fund’s investment horizon is set to deliver the expected return with a specific investment strategy. It is very likely in standard market and economic conditions.

A fund’s performance is a percentage change in one unit of the net value of the mutual fund’s assets compared to the previous period. The period is usually 12 months. The appreciation is expressed as a percentage change over the relevant period. A period of one year is abbreviated as p.a. (from Latin per annum – per year).

The distribution of investments in a large number of securities in our funds prevents the risk that the client could lose the entire invested amount. The purpose of investing in mutual funds is professional asset management with the objective to generate the expected return in the recommended time horizon.

You can invest any amount in our mutual funds. The only limitation is the minimum initial investment and the minimum subsequent investment. The minimum investment in both cases amounts to EUR 20 and applies to all funds.

The investment is associated with a so-called entry fee, by which the amount you invest will be reduced. The amount of the fee depends on the size of the investment and the specific mutual fund.

Information on entry fees is published in each of our fund’s summary of basic information and in the mutual fund’s sales prospectus.

You can request redemption of your units at any time in the following ways:

• Please send the completed Application for Payment of Units form with a certified signature on the form by post or hand deliver to the registered office of the Company.
• If you have set up secure PLUS access in IAD ONLINE, you can complete the Application for Redemption of Units online and submit it to us via the system.
• Visit the IAD Investments client centre in Bratislava in person and make an application directly with an IAD Investments employee.

We will send you the funds for the units to the bank account designated by you.

Unit certificates can be donated by executing a donation agreement with officially certified signatures. The original or an officially certified copy of the donation agreement delivered to the registered office of IAD Investments, správ. spol., a.s., Malý trh 2/A, 811 08 Bratislava, is a final document enabling the transfer of unit certificates to a donee.

Yes, inheritance of units is possible. The management company carries out the inheritance (transfer) of units to the heir (transferee) on the basis of the form Order for registration of transfer of units, where the transferee (heir) of the unit requests the change of the unit holder and is obliged to attach, e.g., a final order of the competent court in the inheritance proceedings, a certificate of the competent notary authorised by the court on inheritance, a final order of the competent court in other related proceedings. If the form is completed without the presence of an authorised officer of IAD Investments, the signatures on the form must be notarised and must be delivered to the registered office of IAD Investments. If the heirs are not already registered as unitholders with IAD Investments, they must also enclose a completed Application for Registration of Unitholder and Issue of Units form.

Yes, the legal act of inheritance of units must be in writing as a result of the Inheritance Proceedings. The original or an officially certified copy delivered to the registered office of IAD Investments, správ. spol., a.s., Malý trh 2/A, 811 08 Bratislava, is the legal document for the transfer of the Units to the legal heir.

We do not set the net asset value of the fund, and thus the price of one unit, for all our funds in the same time interval. For some funds it is daily, for others on a weekly or monthly basis.

Due to the inconsistency of the valuation interval, we update unit prices every business day after 6 pm. In the case of funds that are valued every business day, the value changes every day. For other funds, the last known value is published until the date on which these funds were valued.

For this reason, it may seem outwardly that the unit prices are not updated daily. However, for the sake of clarity, for each fund we state the date for which the unit price was valid.

Collective investment and the overall activity on the financial markets is defined by the strict legislative framework of the Slovak Republic and the directives of the European Commission. In addition, we are subject to self-regulation by the Slovak Association of Asset Management Companies.

Only the management company may dispose of the assets in the mutual funds, and only in the context of Act on Collective Investment No. 203/2011 Coll. The control activity over compliance with the law is primarily carried out by the depositary – currently Slovenská sporiteľňa, a.s. The management company may not make any transactions with the funds’ assets without the depositary’s consent. The National Bank of Slovakia (NBS), as a state administration body for the capital market area with appropriate powers, may also control and interfere in the activities of management companies.

Assets in mutual funds are separated from assets of the asset management company. The NBS and the depository oversee the activities of the asset management company to prevent the management of assets that could damage the shareholders.

If the asset management company goes bankrupt, the NBS will appoint a new asset manager to manage its mutual funds.