Basic information
Who is the fund for
The first real estate fund has the character of a balanced fund and is intended for investors with a balanced relationship to risk. The fund belongs to the category of special real estate mutual funds of a growth nature and offers the opportunity to participate in the stable income associated with the rental of real estate owned by the real estate companies of the First Real Estate Fund and with the real growth of their value. It is a good alternative for investors looking for long-term performance prospects without major fluctuations. We recommend it to investors who wish to deposit their funds for over five years.
| Fund manager: |
IAD Investments, správ. spol., a.s. |
| Place of fund registration: |
Slovak Republic |
| Investment focus: |
special real estate fund |
| Denomination currency: |
EUR |
| Bank details: |
IBAN: SK82 7500 0000 0002 5506 1913
SWIFT: CEKOSKBX |
| Fund creation date: |
20. 11. 2006 |
| Minimum initial investment: |
20 EUR |
| Minimum subsequent investment: |
20 EUR |
| Entry fee: |
up to 16 000 EUR*: 3 %, 16 000 EUR* and more: individually
* total cumulative investment in our mutual funds |
| Exit fee: |
0 % |
| Management fee: |
1,8 % p.a. |
| Performance fee: |
10% (High-Water Mark value of the share – it is applied in the amount of 10%, only if the Fund’s exchange rate exceeds the value of the highest Fund exchange rate, the fee is calculated from the share of these two exchange rates) |
| Depository fee: |
0,204% p.a. incl. VAT |
| SRI risk indicator: |
1 2 3 4 5 6 7
We have classified this Fund as 2 out of 7, which represents a low risk class. |
| ISIN: |
SK3110000682 |
| Important documents: |
Documents and forms |
Fund detail
Fund characteristics:
- Special real estate fund
- Low market risk – balanced investment strategy
- The fund’s objective is steady investment growth over more than five years
- It invests primarily in real estate in Slovakia, the Czech Republic, Hungary and Poland
- Cares about diversifying the portfolio – invests in different types of real estate, such as office buildings, residential and commercial buildings, service buildings, tourism and logistics centers
- The income is achieved mainly through rents and from the market appreciation of real estate
- Invests in debt transferable securities to better appreciate temporary free liquidity
- The investor can request the payment of units on a daily basis, which will be paid to him without undue delay, but no later than within 12 months from the delivery of the complete request
Awards received:
Fund investment strategy:
The goal of the management company is to achieve and secure a return for shareholders within 5 years at the level of development of the Slovak, Czech and European real estate market. The investment policy is focused on creating the added value of the real estate portfolio through the use of suitable investment opportunities arising in the real estate market as well as through the effective performance of individual property management in order to maximize the use of individual real estate opportunities.
The mutual fund invests mainly in real estate assets – real estate in the areas of administration, logistics, housing, trade and tourism, or other real estate assets in the form of direct investments as well as indirectly through investments in real estate companies in these segments of the real estate market. Real estate assets can make up up to 90% of the mutual fund’s assets. The mutual fund may also invest in transferable securities (eg mortgage bonds, bonds) and transferable securities, the yield of which is derived from the development of the real estate market (eg property linked notes).
Factors that affect the value of assets in the fund:
Significant impact:
General market risk arising from changes in the general level of market prices or interest rates.
Average impact:
Economic growth of the economy in the countries to which the mutual fund’s investments will be directed.
Market risk arising from changes in the market value of mutual fund assets caused by changes in variable market factors such as interest rates, foreign exchange rates, stock and commodity prices, developments in the value of rents in various real estate market segments or deteriorating creditworthiness of the issuer.
The specific market risk that arises from a change in the price of only one issuer of the relevant financial instrument, which is caused by factors related to the issuer of the relevant financial instrument as well as the liquidity level of individual assets in the market.
Currency risk arising from changes in currency exchange rates.
Interest rate risk arising from changes in interest rates.
General equity risk arises from changes in the price of an equity instrument caused by changes in the prices of equity securities, without the influence of factors relating to the issuer of the relevant financial instrument.
Equity risk that arises from changes in the prices of equity securities and their impact on the value of assets in the mutual fund.
The risk of an event arises from unforeseeable circumstances that cause the market value of a financial instrument to decline suddenly or unexpectedly; event risk also includes the movement of risk on interest rate products or the risk of significant changes or jumps in stock prices.
