Contacts
Initial subscription message
05 march 2021
Dear clients,
We would like to inform you that by decision No. 87-DF/18.02.2021, the Financial Supervision Commission issued a permit to KBC Asset Management NV, Belgium, operating through its branch in the Republic of Bulgaria "KBC Asset Management NV - branch"
(KBCAM or the branch) for organization and management of a mutual fund "UBB ExpertEase", consisting of ten sub-funds:
|
Name of Sub-fund |
ISIN code |
|
BG9000003210 |
|
BG9000004218 |
|
BG9000006213 |
|
BG9000005215 |
|
BG9000007211 |
|
BG9000008219 |
|
BG9000010215 |
|
BG9000009217 |
|
BG9000011213 |
|
BG9000012211 |
After receiving the above permission, KBCAM through its Distributor - United Bulgarian Bank AD (UBB), started a procedure for initial subscription of units in the Sub-Funds ("Initial subscription").
The initial subscription will start at 9:30 Bulgarian time on 15.03.2021, and will end at 17.30 Bulgarian time on 17.05.2021 ("Date of completion of the initial subscription").
Under the Initial Subscription, the Units in the Sub-Funds will be offered for subscription at their nominal value (“Price at Initial Subscription”), - BGN 10 (ten BGN) for the Sub-Funds in BGN and 10 EUR (ten EUR) for the Sub-Funds in EUR.
Under the Initial Subscription, as the Umbrella Fund and the Sub-Funds are not yet operational, the net asset value, issue value and redemption price of the Units in the Sub-Funds will not be calculated and published. All investors may submit a non-binding declaration of interest to subscribe for units in the selected Sub-Fund(s) from the Initial Subscription Start Date to the Initial Subscription Completion Date (the “Initial Subscription Period”).
Investors will have to sign the necessary contracts, submit a non-binding declaration for interest in subscribing units in selected Sub-Fund(s) to the Distributor and provide the necessary identification documents. Completion and signing of all documents will be carried out in the branch network of the distributor - UBB, from Monday to Friday, within the working hours of the branches. No other orders for subscription of units in the Sub-Funds will be accepted during the Initial Subscription Period, but only non-binding declarations of interest for subscription of units.
The investor is obliged to provide the Distributor - UBB AD with the necessary amount of funds for the execution of the order, according to the amount of the desired investment, by 5.30 pm on 18.05.2021.
Investors who have submitted non-binding declarations for interest in subscribing units in a selected Sub-Fund(s) will have the right to withdraw them until the end of the Initial Subscription Period by signing an declaration for withdrawal in a branch of their choice.
At 5.30 pm Bulgarian time on 17.05.2021, non-withdrawn non-binding declarations for interest for subscription of units in the selected Sub-Fund(s) will be considered as orders for subscription of units in the Sub-Fund(s) specified therein. In case the necessary amount of funds for the execution of the subscription order are available by 5:30 pm on 18.05.2021, Bulgarian time, the submitted orders will be executed on 19.05.2021. In connection with the previous sentence, the shares in the selected Sub-Funds will be considered subscribed by the respective investors and the units in the Sub-Funds will be issued in the name of the specific investors.
The initial subscription will be considered successful, in respect of the relevant Sub-Fund, if non-binding expressions of interest have been submitted for subscription of units of this Sub-Fund amounting to at least EUR 100,000 (one hundred thousand EUR), for the Sub-Funds in EUR or
BGN 200,000 (two hundred thousand BGN), for the Sub-Funds in BGN, as the Initial Subscription will be considered successful for all Sub-Funds (ie for the entire Umbrella Fund), if non-binding declarations of interest of at least EUR 10,000,000 (ten million euros) are submitted in all Sub-Funds, and in respect of the Sub-Funds in BGN the euro equivalent of the funds requested for investment will be taken into account, according to the submitted non-binding declarations of interest, calculated by the exchange rate of Bulgarian National Bank.
In case that the Initial Subscription is unsuccessful, according to the criteria set out in the previous paragraph, KBCAM may decide not to proceed with the launch of the relevant Sub-Fund(s) and to refuse to execute all non-binding expressions of interest made by investors, without costs for these investors. That decision will be made public on the Branch's website (www.ubbam.bg) and on the Distributor's website (www.ubb.bg). In this case, the investors' amounts of funds will not be invested and will remain in their accounts with UBB. In addition, KBCAM will be entitled to extend the Initial Subscription Period by no more than 20 (twenty) business days prior to the completion date of the initial subscription. In this case, KBCAM will duly notify the FSC, the Distributor, the Depositary and the public of the extension of the Initial Subscription Period, and for this purpose will publish a notice on the extension on the Branch's website and the Distributor's website mentioned above. After the end of the Initial Subscription Period, the issuance and redemption of Units in the Sub-Funds will be carried out in accordance with the rules and prospectuses. Additional information can be found in the Prospectus of UBB ExpertEase and the respective sub-funds on the Branch's website (www.ubbam.bg).
We wish you successful investments!
March 5, 2021
KIID UBB ExpertEase Defensive Balanced (LEVA)
KIID UBB ExpertEase Defensive Balanced (EUR)
KIID UBB ExpertEase Defensive Tolerant (LEVA)
KIID UBB ExpertEase Defensive Tolerant (EUR)
KIID UBB ExpertEase Dynamic Balanced (LEVA)
KIID UBB ExpertEase Dynamic Balanced (EUR)
KIID UBB ExpertEase Dynamic Tolerant (LEVA)
KIID UBB ExpertEase Dynamic Tolerant (EUR)
KIID UBB ExpertEase Highly Dynamic Tolerant (LEVA)
KIID UBB ExpertEase Highly Dynamic Tolerant (EUR)
