This Sub-Fund qualifies as a money market fund according to the CESR’s guidelines 10-049 of 19 May 2010 ("Money Market Fund").
The investment objective of the Sub-Fund is to maintain the principal of the fund and to provide returns in line with the money market rates. The Sub-Fund invests its assets in high quality money market instruments which have been awarded one of the two highest available credit ratings by each recognized credit rating agency, as defined in the article 81(1) of the Directive 2006/48/EC that has rated those instruments. The Sub-Fund can also hold sovereign issuance of at least investment grade quality. ‘Sovereign issuance’ should be understood as money market instruments issued or guaranteed by a central, regional or local authority or central bank of a Member State, the European Central Bank, the European Union or the European Investment Bank. The Sub-Fund also invests its assets into deposits with high quality credit institutions.
Secondarily the Sub-Fund invests in structured financial instruments and in financial derivative instruments in line with the money market investment strategy. Currency derivatives may only be used for hedging currency exposure in non-base currency securities.
The investment portfolio will have a weighted average maturity of no more than 6 months and a weighted average life of no more than 12 months. The money market securities can have residual maturity until the legal redemption date of less than or equal to 2 years.
The Sub-Fund is not allowed to invest directly or indirectly in equity securities or commodities, including via derivatives.
Liquidities, undertakings for collective investments, financial derivative instruments, structured financial instruments, securities lending and repurchase agreements may be used within the limits described in sections 3.1 and 4 of the Prospectus. Investments in other undertakings for collective investments are limited to those which comply with the definitions of a Money Market Fund.
The Sub-Fund has a low risk profile and is addressed to risk-averse investors who want Euro currency linked exposure and seek to combine short term returns in line with the European money market rates and immediate liquidity.
|FACTSHEET (LF) Money Market Fund – Reserve|
|KIID Eurobank (LF) Money Market Fund - Reserve|
|KIID Eurobank I (LF) Money Market Fund - Reserve|
|KIID Private Banking (LF) Money Market Fund - Reserve|
|KIID Interamerican (LF) Money Market Fund - Reserve|
|KIID Bancpost (LF) Money Market Fund – Reserve|