Information on the decision to suspend the payment of unit certificates of the KD RUSSIA mutual fund
we kindly inform you, that by decision of March 6, 2023, adopted at 15:30 CET in the interest of the unitholders, the IAD Investments (hereinafter referred to as “IAD”) decided to suspend the payment of the Mutual Fund of the KD RUSSIA Mutual Fund for a suspension period from March 7, 2023 at 0:00 CET until March 6, 2024 at 24:00 CET on the grounds that the Mutual Fund invests its assets primarily into securities, which are shares and units of ETFs focused on Russian shares, which cannot be traded at the moment and whose value cannot currently be determined in the manner prescribed by the measure of the National Bank of Slovakia No. 13/2011.
In connection with the ongoing military conflict between the Russian Federation and Ukraine and the economic sanctions imposed on the Russian Federation, selected legal entities domiciled in the Russian Federation and natural persons who are citizens of the Russian Federation or persons connected with such persons, and the reciprocal sanctions imposed by Russia by the Federation, the usual trading on the securities market with securities and other financial instruments related to the Russian Federation is significantly disrupted, when IAD itself or through brokers does not have access to the Russian capital market Moscow Exchange (MOEX) and cannot conduct new securities transactions on MOEX, and other financial instruments related to the Russian Federation or close current positions traded on MOEX, the Russian National Clearing Depository (NSD) was included on the Consolidated List of Financial Sanctions of the European Union, which contains a consolidated list of persons, groups and entities subject to EU sanctions freezing a active and the prohibition to make funds and economic resources available to them, securities and other financial instruments related to the Russian Federation / shares of companies domiciled in the Russian Federation listed on a foreign exchange are still not traded on the London Stock Exchange, as a result of which it is still not possible to carry out trades in securities and other financial instruments related to the Russian Federation traded on a regulated market and it is not possible to determine their value even with due professional care.
From the date of suspension of the payment of units of the KD RUSSIA mutual fund, IAD may not pay out or issue units of the KD RUSSIA mutual fund.
IAD hereby informs investors that it does not record any pending request for the issue of the Mutual Fund and no pending request for the redemption of the Units of the Mutual Fund and kindly asks investors NOT to request further applications for the issue of the Unit until the resumption of the issue and redemption of the Units of the Mutual Fund and NOT make any further payments to invest in the Mutual Fund, as the Company will be forced to refuse to issue the Mutual Fund’s Units at this time.
IAD will inform unitholders about the resumption of the payment of unit certificates at the registered office of IAD and at the website www.iad.sk. Upon resumption of the issue and redemption of KD RUSSIA Mutual Fund Units, IAD will issue or redeem Units whose issue or redemption has been suspended at the current price of the KD RUSSIA Mutual Fund Unit on the date of resumption of unit redemption.