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SICAV SIF S.A.
APPENDIX VII – FINEX SICAV SIF S.A. – MIXED SECURITIES
Investment objective and policy:
The MIXED SECURITIES sub-fund seeks long term capital growth by capitalizing on the investment
opportunities that exist in the world. The main focus will be European equities and bonds, but some investments
could be made as well in Americas and some enhanced Asian countries.
A balance between equities and bonds will secure both long term growth potential of the fund as well as a
guaranteed stream of revenues to cover the fund’s costs.
The sub-fund will primarily hold investments in equities or bonds, but will have also the ability to hold cash,
investment funds and other securitized instruments; it may also invest in assets denominated in any currency and
currency exposure may be hedged. Derivatives and loans could be used by this sub-fund for hedging purpose only.
The sub-fund objective is intended to be achieved through a diversified portfolio in terms of issues and issuers.
Investors are informed that at the Fund Manager’s discretion a significant proportion of the sub-fund’s assets may
be concentrated at any one time in one of these collective investment schemes taking due care that the latter has
equivalent diversification rules.
At its discretion, the Fund Manager may at any time invest the entire assets of the sub-fund in one category of
transferable securities and may for cash management purposes invest in liquidity funds or place money in liquid
assets including cash.
The number of investments in the portfolio may be limited and may vary at the discretion of the Fund Manager
who will be continuously looking for new opportunities and may therefore buy or sell according to sub-fund’s
investment objectives and policy.
The sub-fund will be composed of securities with two main characteristics: a long historic of dividend
distribution and a high ratio of pay-out dividends. This sub-fund will belong to the family of non-benchmarked
managed funds (no seek of absolute performance).
Investor Profile
The sub-fund is adapted to both institutional and eligible private investors.
The sub-fund has been designed for investors who are looking for High dividends distribution in order to invest
the revenue of the dividends in shares, in spite of the volatility of the stock market. It is therefore ideal for investors
who are looking to a portfolio aimed at producing long term capital growth.
Due to the specific nature of the high pay-out dividend ratio securities, the sub-fund is suitable for investors with
a five years investment horizon.
Risk Profile
- The sub-fund will primarily hold investments in equities and bonds, together with some target investment
funds.
- Investors will be exposed to stock market fluctuations and the financial performance of the companies held
within the sub-fund’s portfolio. Therefore, investors may see the value of their investment fall as well as rise over
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time; investors may also receive less than their original investment.
- Investors should also be aware that the sub-fund is exposed to the particular political and economic risks of
European zone, but also potentially Americas and Asia; which although providing a focused investment and the
potential of higher returns, it also further limits the room for risk diversification within the Fund.
- To the extent that the MIXED SECURITIES sub-fund invests into other UCIs, these investments may entail a
duplication of certain fees and expenses for the shareholders, for instance the commissions for the custodian, the
administration agent, management / advisory fees and issue / redemption fees on the level of invested UCIs.
Reference Currency
EUR
Valuation frequency:
Monthly or more frequently upon request of the “Board”,
Subscription Price / Redemption Price
Investors will have their Shares allotted at the Net Asset Value per Share as of the relevant Valuation Day plus
any applicable subscription charge. Shares are redeemed at their Net Asset Value per Share minus any applicable
redemption fees.
Initial Issue Price:
EUR 10 per Share for share classes X and Y,
EUR 1000 per share for all other share classes.
Minimum Initial Investment:
EUR 1,000 for Class A, B, C, D, E, F, X, Y
Minimum Subsequent Investment:
EUR 1,000
Subscription, redemption and conversion deadline
The Board of directors can decide to request a calculation of an additional Net Asset Value –so called ad hoc
valuation day- for this fund at any time to allow subscribers and redeemers to process their transactions at any time
during the year.
Subscriptions: 12 p.m. Luxembourg time two (2) Business Days prior to the applicable regular or ad hoc Valuation
Day. Applications received by the Registrar and Transfer Agent after this time will be deemed to have been received
on the following Business Day.
Redemptions: 12 p.m. Luxembourg time two (2) Business Days prior to the applicable regular or ad hoc Valuation
Day. Applications received by the Registrar and Transfer Agent after this time will be deemed to have been received
on the following Business Day.
Conversions: 12 p.m. Luxembourg time two (2) Business Days prior to the applicable regular or ad hoc Valuation
Day. Applications received by the Registrar and Transfer Agent after this time will be deemed to have been received
on the following Business Day.
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Subscription Charges
- Class A to F: Those share classes will be subject to a maximum Subscription Charge of 5% of the Subscription
Price. The full amount of the Subscription Charge may be paid to Intermediaries involved in the offering of Shares
or by default to the MIXED SECURITIES sub-fund itself.
- Class X and Y: There will be no initial charge payable on subscription. Investors will receive an initial allotment
of Shares equivalent to 100% of their subscription amount.
The Directors of the fund might decide to waive this Subscription Charges for specific investors.
Redemption Charges
- Class A to F: Those share classes may be subject to a maximum Redemption Charge of 5% of the Redemption
Price. The full amount of the Redemption Charge may be paid to Intermediaries involved in the offering of Shares
or by default to the WORLD DIVIDEND sub-fund itself.
- Class X and Y: There will be no charge payable on redemptions.
The Directors of the fund might decide to waive these Redemption Charges for specific investors.
Subscriptions in Kind
Subscriptions in kind are allowed in principle in this Sub Fund. The Directors might decide to appoint an
independent expert, an external auditor or the central Administration agent in order to assess the actual fair value
of the assets brought to the Sub Fund. Assets brought in to the Share classes X and Y will be valued by common
agreement between the Directors and the subscriber(s), upon advice from the Central Administration and the
Custodian bank. This valuation will be performed free of charge for the subscribers or the sub-fund. The valuation
will be subject to the auditor of the fund for review.
Management Fee
The management company will receive, as a Management Fee, a lump sum based on its annual management fees
billed monthly. The maximum fees are fixed as following according to Appendix II:
-
Normal fee category :
Medium fee category:
Reduced fee category:
up to 4% of the net assets
up to 2,5% of the net assets
up to 1% of the net assets
The management company may also receive a Performance fee which cannot exceed 25% of the annual performance
of the compartment. This performance fee is subject to a High Water Mark. The High Water Mark (HWM) is fixed at
the value of the initial net asset value per share of the relevant fund and increased to the net asset value per share
each time a performance fee is paid. The HWM will not be reset unless decided by the general assembly of the
shareholders of the relevant sub-fund.
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The management company may contract with one or more investment advisors. The investment advisers might
receive a compensation which may include one or more components such as:
-
Investment advice commission based on a fixed monthly amount
Performance fee which cannot exceed 25% of the annual performance of the compartment
Advisory fee as a percentage of the fund assets
Reimbursement of costs and expenses justified by the business consulting provided for the
compartment
These fees will be paid out of the management fee.
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