ELANA High Yield Fund
ELANA High Yield Fund is the company's second mutual fund. It started public offering of shares on 20 June 2005.
ELANA High Yield Fund is appropriate for:
- investors looking for the highest possible return on investment being ready to take a high market risk
- investors who would like to have access to their savings any time
Investment objectives
ELANA High Yield Fund invests in first class, highly liquid shares with a significant growth potential.
The investment goals of Elana High Yield Fund are:
- to achieve the best possible ratio between risk and return
- to invest in high growth stocks on the Bulgarian Stock Exchange with a potential for price increases within the next 1-2 years
- to diversify the portfolio with shares from different economic sectors
- to actively manage the portfolio in order to achieve the highest possible return
ELANA High Yield Fund's Portfolio includes:
- Bulgarian and foreign shares traded on the Bulgarian Stock Exchange-Sofia
- compensatory receipts and investment bonds
- Bulgarian government securities, mortgage bonds, municipal and corporate bonds
- foreign fixed income securities traded on international markets
- cash, demand deposits or up to three-month term deposits, and securities with up to 90 days to maturity
Minimum recommended term of investment
There is no minimum investment period as a legal requirement or any other formal obligation.
Invetsment in a mutual fund is not a short-term type of investment if one would like to experience the return and advantages of those products. More than one year is the recommended term of investment in order to benefit from an annual return overcoming any fluctuations of the markets.
Minimum amount of investment
The minimum required investment in ELANA High Yield Fund is the price of one share, which is equal to the fund's asset value divided by the number of outstanding shares. The price of one share therefore varies depending on the price of the fund's assets.
ELANA High Yield Fund share prices are announced daily:
- www.elana.net
- at all ELANA investment centres
- Dnevnik daiy and other Bulgarian dailies
- BSE - Sofia bulletin
- Financial Supervision Commission
Tax benefit
Pursuant to the Corporate Income Taxation Act and the Personal Income Taxation Act, the income obtained from ELANA High Yield Fund transactions are tax free.
Visibility and control of the investment
ELANA High Yield Fund investments are administered by ELANA Fund Management - licensed by the Financial Supervision Commission. ELANA High Yield Fund's assets are held by the Depository Bank which is managed by Eurobank EFG Bulgaria. Essential functions of the Depository Bank include:
- safe-keeping of ELANA High Yield Fund assets'
- control of each securities transaction related to the ELANA High Yield Fund
- setting the daily issue and redemption prices of ELANA High Yield Fund shares
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