ELANA Global Equity Fund

ELANA Global Equity Fund is a fund with a high risk profile denominated in EUR. ELANA Global Equity Fund invests mainly in international equity markets with a focus on global blue chips and emerging markets ETFs (dedicated to China, India, Russia, Brasil, etc.).

What is the currency of the fund?
What is the risk profile of the fund?
What is the investment strategy of the fund?
Who are the investors finding this fund the best match?
What is the nominal value of one fund share?
What are the entry and exit fees?
What is the fund management fee?
When is the NAV per share calculated and reported?
Where can you find the fund share prices published?
Can you purchase partial shares of ELANA Global Equity Fund?
When will you be able to sell your shares?
Where can you see the performance history of the fund?
What are the information services available for ELANA Fund Management investors?
Where can you find the fund prospectus?
How to invest in the fund?
What is the bank account of the fund?


What is the currency of the fund?
ELANA Global Equity Fund is denominated in euro and prices of shares are announced on daily basis in euro.


What is the risk profile of the fund?
ELANA Global Equity Fund is a high risk equity fund investing in some Bulgarian and most of all in international stocks.


What is the investment strategy of the fund?
ELANA Global Equity Fund invests mainly in international equity markets with a focus on global blue chips and emerging markets ETFs (dedicated to China, India, Russia, Brasil, etc.).
ELANA Global Equity Fund investment strategy includes up to 90% allocation to international stocks, up to 20% Bulgarian stocks, as well as up to 50% in credible funds with a history of successful performance and various ETFs.
Asset classes: Up to 90% allocation to international stocks, up to 20% Bulgarian stocks, as well as up to 50% in credible funds with a history of successful performance and various ETFs.
Core investment: Large caps with global revenue mix, top positioning, lean BS and stable dividends. Such an investment in quality companies brings stability to the overall fund portfolio due to: (1) dividend-paying stocks (2) usually less volatile compared to other stocks in unfaviourable macro-economic conditions because of their global markets and position as well as due to their proven professional management.
Satellite portfolio: Emerging markets ETFs and direct equity investments; hard assets exposure via equity or commodity notes.
Such an investment will improve the return of the fund portfolio – emerging markets are expected to have rapid economic growth in the next few years.

Top core holdings:
Deutsche Telecom (DTE GR)
Sanofi-Aventis (SAN FP)
BMWG (BMW Group)
Coca-Cola Company (KO US)
Taiwan Semiconductor Manufacturing Company (TSM US)

Apart from the EU stock markets ELANA Global Equity Fund will invest also in the following markets (according to fund prospectus):

The investment constraints according to the fund prospectus are the following:

Who are the investors finding this fund the best match?
ELANA Global Equity Fund is the proper choice for investors with high tolerance to risk, who are willing to invest for a longer period, expecting a higher return than the low-risk instruments can obtain.
Global equity funds represent an attractive investment which is well diversified through markets and sectors in different stages of the economic cycle and allows benefits from the economic growth potential combined with optimized risk. This type of funds aim at assuring quality and profitable investment on a global scale so investors can benefit from the developments of the global economy. Having a high risk profile a global equity fund requires at least 2 years of horizon in order to bring benefits to its investors.
ELANA Global Equity Fund is designed for both individual and institutional investors.

Attractive taxation also adds to the value of investing in this fund:

• In Bulgaria – 0% tax on capital gains;
• In most of the country markets – fund investment targets - – 0% tax on capital gains;
• On most target markets – agreement for avoiding double taxation available – brings reduction of tax on dividends.
  

What is the nominal value of one fund share?
The nominal value of one share of ELANA Global Equity Fund is EUR 100.


What are the entry and exit fees?

• For investments up to EUR 500 000 there is an entry fee of 1% of NAV per share, which is included in the daily fund entry price – published on www.elana.net
  
• There is no entry fee for investments of over EUR 500 000.01
  
• For investments up to EUR 500 000 the redemption fee is 1% of NAV per share, which is included in the daily redemption price – published on www.elana.net
• For investments of over EUR 500 000 the redemption fee is 0.25% of NAV per share, which is included in the daily redemption price – published on www.elana.net

What is the fund management fee?
The annual fund management fee is 2.75% of the average NAV of ELANA Global Equity Fund, which is being calculated on daily basis.


When is the NAV per share calculated and reported?
The net asset value per share of ELANA Global Equity Fund, issue price and redemption price per share are being calculated every working day. Daily prices are published on www.elana.net.

Where can you find the fund share prices published?
ELANA Global Equity Fund publishes share prices every working day on www.elana.net and through the website of the Bulgarian Association of Asset Managers in a number of dailies. Simultaneously, ELANA Global Equity Fund reports the prices upon calculation to the Financial Supervision Commission and the Bulgarian Stock Exchange.

Can you purchase partial shares of ELANA Global Equity Fund?
Investors can place an order for a certain amount of money they have decided to invest - so they can purchase also partial fund shares.


When will you be able to sell your shares?
ELANA Global Equity Fund will start share redemption after the fund net assets reach the equivalent of BGN 500 000 (~EUR 250 000). However, it is advisable for investors to consider a longer time horizon for investment in mutual funds in order to take advantage of those products.


Where can you see the performance history of the fund?
ELANA Fund Management publishes regularly information about ELANA funds' performance on monthly and annual basis; funds' NAV and funds' portfolio structures in the end of the month.
According to the law, yield results of a fund can be reported after 6-months of fund inception. Monthly performance information about ELANA Global Equity Fund is published on the fund's Yield page. Monthly reporting on ELANA Global Equity Fund portfolio structure is published on Portfolio structure page. Monthly fact sheets for all ELANA funds are published as ELANA Funds Monthly Report

What are the information services available for ELANA Fund Management investors?

• ELANA Funds Monthly Report - includes all ELANA funds' fact sheets with monthly update of performance;
  
• Free access to database with market and public companies' analyses by ELANA's brokerage Research Department. There is also an option for email subscription to selected regular research reports.

Where can you find the fund prospectus?
ELANA Global Equity Fund prospectus and rules & regulations are published only in Bulgarian on Documents page in the Bulgarian version of this website. For any queries related to information from this document in English, please contact marketing@elana.net.


How to invest in the fund?

• Visit the nearest ELANA investment centre
  
• Transfer the amount you would like to invest to the fund's bank account or bring it cash to the nearest ELANA investment centre;
  
• Place a purchase order;
  
• Documents you need to present:
  - For individual investors - ID card;
  - For legal entities: please contact first consultant at ELANA investment centre.
  
• The Central Depositary will issue a depositary receipt within 4 working days - this is the official document certifying your shareholdership.
  
• The depositary receipt will be available at your nearest ELANA investment centre.
  

What is the bank account of the fund?

We inform our present and potential investors that the price of the financial instruments may decrease. Profit is not guaranteed and there is a risk that investors may not be able to recuperate the full amount of the funds invested. These investments are not guaranteed by any entity including the Guarantee Fund, created by the Government of Bulgaria.