|
Name and origin of
the fund: |
The capital-protected HORIZON Commodity 1 is a Belgian fund designed to be distributed only on the Bulgarian market.
Commodity 1 is one of the sub-funds of HORIZON with asset manager KBC Asset Management. |
| Legal status: |
The public offering of the fund was approved by the Belgian Banking, Finance and Insurance Commission (CBFA) and the Bulgarian Financial Supervision Commission (FSC). The prospectus documentation of the fund in Bulgarian language is available on www.elana.net. |
| Launch |
9 June 2008 |
| Maturity |
Total of 3 years
Dates: 9 June 2008 – 29 July 2011 |
| Currency |
EUR |
| Type of fund |
Capital-protected fund – 100% protection upon maturity |
| Period of initial public offering - subscription |
9 June – 4 July 2008 |
| Minimum investment |
Basic value of 1 share = EUR 100 |
| Protection |
Protection of EUR 100 per share (initial value on subscription) at maturity date
If an investor enters the fund after the subscription period, they get protection on EUR 100 per share at maturity. |
| Investment strategy |
The fund seeks to preserve at maturity 100% of the initial value on subscription. The fund strives to achieve a capital gain that is contingent on a possible increase in the value of the Balanced Commodity Index, which is a weighted commodity index calculated by TIJD Beursmedia and includes 6 commodity components. |
| Commodity index basket |
Aluminium, crude oil, copper, zinc, nickel, lead
|
| Net asset value & share prices |
Net asset value is calculated twice a month.
NAV and prices per share (issue and redemption) are announced on ELANA Fund Management web pages |
| Scenarios of possible performance outcome |
The good scenario
The value of the stock index has marked increase at maturity – investors get their 100% protected capital plus % of the generated return based on participation rate.
The bad scenario
The value of the stock index has decreased at maturity – – investors get their 100% protected capital but 0% profit
Exit before maturity
If investors exit the fund before maturity, investment is not 100% protected and whether they might get their initial capital even plus return, depends on the impact of the following factors at the exit moment:
Interest rates in EU, commodity index value, volatility of the markets, strike price of the fund call options and the time remaining to maturity. |
| Entry fee |
2% |
| Entry fees on secondary market (after 4 July 2008) |
2% entry fee
1% administration fee at entry |
| Exit fee |
0% - exit at maturity
Amount to cover the costs of the purchase/sale of assets:
Orders <= EUR 1250000 - 1%
Orders > EUR 1250000 - 0.5%
Exit within 1 month of entry – Max. 5% |
| Other fees |
Detailed information about the charges for the sub-fund which are included in the price per share – in the prosepctus of the fund. |
| Tax treatment |
Capital gains are tax-free for Bulgarian investors |
| Fund performance reporting |
Performance of the fund with NAV history and value of the stock index is reported twice a month on www.elana.net.
Quarterly, 6-months and annual reports are published on www.elana.net and www.kbcam.be. |
| Service for investors |
ELANA Fund Management represents the fund in Bulgaria and provides the services to the investors.
|
| Custodian |
KBC Bank
The fund bank account in Bulgaria is at EIBANK, part of KBC Group |
