26 Apr “Credins Premium” Investment Fund Prospectus
In fulfillment of legal obligations from Law No. 56/2020 “On Collective Investment Undertakings” and by-laws issued pursuant to it, the management company Credins Invest sh.a., has updated the Prospectus of the “Credins Premium” Investment Fund.
The Prospectus has been updated as follows:
- Data of the funds for the year 2022 in the Section “Funds under the administration of the management company Credins Invest sh.a.”;
- In the section “General data of the fund/Investment Fund “Credins Premium” the data for the year 2022 have been updated in paragraph 3 and the table showing the historical data of the fund;
- Paragraph 3 has been reformulated with the content:
“The graph below presents the historical net returns of the “Credins Premium” Fund during the full years of activity. The net annual rate represents the portfolio’s rate of return after deducting costs and fees incurred by the fund. The fund started its activity on July 1, 2016. On 31.12.2022, the average modified duration of the investment portfolio (Modified Duration) is 0.06 years.”
- In the section “Investment objective of the fund” the last sentence containing:
“The fund will consist only of debt securities with fixed income” has been removed.
- In the “Payment of quotas” section, after the second paragraph, the following paragraphs have been added:
“In special circumstances, the repayment of quotas can be made in titles that the Fund owns, when it is possible to determine the exact price and the investor agrees with the proposal. The repayment of quotas will be made in kind, that is, in titles, for repayments with a large value and will be carried out in special circumstances that are deemed such by the Company.
As for the process of determining the minimum value of net assets per member, which will be considered to be settled in securities, this will be evaluated case by case depending on the net value of the member, considering the number of investors who have higher investment balances in the Fund.
Repayment of investors through securities is carried out for securities that the Fund aims to disinvest.
The proposal to the investor for the specific titles will be in accordance with the objectives and policies of the Fund, the Credins Premium Investment Fund, in the best interest of the investors who remain in the Fund and fulfill the investment objectives of the withdrawing investor.
Investors must agree to the terms and sign a securities custody agreement with one of the banks in order to transfer the securities from the Fund to the investor’s securities account. The investor is primarily paid in title and part of the payment is in cash, deducting the tax liability.
If the investor intends to redeem for the entire value, the withdrawal must be carried out with all quotas, without leaving quotas in number less than 1 (one). In case there will be balances in quotas less than 1 (one), the Company in a period not less than once a year, will request to close the account and transfer of these values to other income for the Fund.”
- In the “Payment of quotas” section, the last sentence containing:
“Every payment for the investment fund is made in monetary assets and, only in special circumstances, provided by an AMF regulation, in securities or other assets, when it is possible to determine their exact price.
Redemption of quotas, using fund assets, or redemption by transfer of a corresponding percentage of any type of fund assets with a value equal to the value of the quotas to be redeemed in this way, is allowed in cases where the sale of the fund’s assets, necessary to meet the requirements for redemption in large values, may compromise the position of permanent investors in the fund, provided that its prospectus describes the method of redemption of quotas in this form. Redemption with assets can only be done by transferring that part of each type of fund assets, which is proportional to the number of investors’ quotas, which require redemption and the total value of the fund’s assets.”
- In the “Auditor” section, the data on External Auditors have been updated.
You can read the full prospectus electronically on our official website: www.credinsinvest.com.
Thank you for your cooperation,
Credins Invest
April 2023