Information on the decision to suspend the payment of unit certificates of the KD RUSSIA mutual fund
Dear investors,
we would like to inform you that IAD Investments, správ. spol., a.s. (hereinafter referred to as “IAD”) by the decision of September 2, 2022, adopted at 24:00 in the interest of the shareholders of the mutual fund KD RUSSIA, o.p.f., IAD Investments, správ. spol., a.s. managed IAD (hereinafter referred to as “KD RUSSIA”) decided to suspend the payment of unit certificates of the KD RUSSIA mutual fund for the period of suspension until March 6, 2023, due to the fact that the KD RUSSIA mutual fund invests its assets primarily in securities, which are ETF units aimed for Russian shares, which cannot currently be traded and whose value cannot currently be determined with due professional care in the manner established by the measure of the National Bank of Slovakia No. 13/2011 on the method of determining the value of assets in a standard mutual fund and in a public special mutual fund and the method of calculating the share value of the issue of unit certificates in mutual funds in which unit certificates of several issues are issued.
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.
IAD may not pay out or issue KD RUSSIA mutual fund unit certificates from the date of suspension of the payment of unit certificates of the KD RUSSIA mutual fund.
IAD informs investors that it does not register any unexecuted request for the issue of unit certificates of the KD RUSSIA mutual fund and any unexecuted request for the payment of unit certificates of the KD RUSSIA mutual fund and allows investors to request that, until the time of resumption of issuing and paying out units of the KD RUSSIA mutual fund, they do not submit further applications to the IAD for the issuance of units of the KD RUSSIA mutual fund and do not make further payments of funds for investment in the KD RUSSIA mutual fund, because the issuance of unit certificates of the mutual fund of the KD RUSSIA fund at this time, the IAD will be forced to refuse.
IAD will inform unitholders about the resumption of payment of unit certificates at the IAD headquarters and on the website www.iad.sk. After the resumption of the issuance and payment of unit certificates of the KD RUSSIA mutual fund, IAD will issue or pay out the unit certificates, the issuance or payment of which was suspended, at the current price of the unit certificate of the KD RUSSIA mutual fund on the day of the resumption of the payment of unit certificates.
