«Standard - Eurobonds» Interval Mutual Investment Fund

Investment Funds

•«Standard - Eurobonds» Interval Mutual Investment Fund

This Fund enables investments in eurobonds of reliable emitters all over the world and receiving passive income in USD. The Fund’s strategy envisages choosing the most profitable bonds without compromising their quality, with a wide geographic range.

The preference is given to investment-grade corporate issues; however, the sovereign debt bonds will remain in the structure to maintain reliability. Some space will be given to High Yield papers.

Recommended investment period: over 1 year

Risk level: low

Main parameters

Fund registration date: 11.01.2024

Currency: USD

Target profitability: 5-7% per year (less commissions)

Dividend yield: 5% per year (automatic reinvestment option available)

Payments: 1.25% of the nominal value of the share

Frequency of payments: quarterly

Payment Dates: February 20, May 20, August 20, November 20

Terms of participation

Initial and minimum deposit 1 000 USD

The fund's shares are redeemed once a quarter.

Dates: January 20, April 20, July 20, October 20

Share price dynamics (USD)

—

Dynamics of share value for the period

Dynamics of net asset value for the period

**This information is for informational purposes only, does not have legal force, and cannot be used for official documentation, statistics, or accounting purposes. Exact values of shares and NAV are available for download.

License: 3.2.247/22 of June 16, 2023.
Before making a decision to invest in the Fund’s shares, the investors shall get acquainted with the Fund’s Regulations and the Investment Declaration.
The share value may increase or decrease; the investment results of the past do not design the future income.
The state does not guarantee the profitability of investments in investment funds.

Approximate Fund Structure

Distribution by asset class

Investment-grade corporate bonds
Maturity: 3-5 years

U.S. Treasury bonds
Maturity: up to 1 year

Emerging Markets Bonds
Maturity: 1-5 years

Mortgage Bond
Maturity: 5-7 years

High Yield Bonds
Maturity: up to 2 years

Fund Manager

Mikhail Meirzhanov Director of Asset Management Department, IC Standard

He started in 2006 as a trader in BBC Invest Company, then headed the Trade Operations Department in Troyka Dialog Kazakhstan.

Mikhail has successfully managed the securities portfolio at Centras Securities and Unicorn IFC, with a profitability of 20-50%.

He was responsible for the institutional business development as an advisor to the Chairperson of the Freedom Finance Management Board. Has gained international experience at The Terra Fund and J&W Development, USA.

Mikhail has joined the IC Standard team in 2023.

He graduated from Karaganda State Technical University and passed the CFA level 3 exam in 2023.

The Fund charges the following commissions

Commission for management: 1% of NAV per year*

Commission for success: 15% a year from NAV growth over 5% (charged only if the yield exceeds 5% a year)

More details about the Fund

*NAV – net asset value

FAQ

Why invest in the Fund in 2024?

There is an opportunity to fix a good rate on bonds while the US and European debt markets provide high yields.
Moreover, rate cuts by the Federal Reserve and global Central Banks may increase the prices of various bonds, and increase your share value accordingly.

For which investors is the fund suitable?

This Fund will mainly suit conservative investors eager to receive passive income in USD.

What are the advantages of the fund compared to buying bonds directly?

By investing in an interval mutual investment fund, you obtain extensive diversification by countries and type of bonds, thus reducing investment risks significantly.

What is the final yield that the investor will receive?

The Fund pays 5% per year of the nominal value of the share, plus the investor can earn additional income if the value of the share increases.
The target profitability of the Fund is 5-7% per year after deducting commissions.

How to buy a share in the Fund?

To participate in the Fund, you should:

Open a brokerage account
Replenish your account with the desired amount
Sign an application to participate in the Fund

For any questions, please contact your financial advisor.

How to sell a share in the Fund?

You can sell your share every quarter.
Dates: February 20, May 20, August 20, November 20.
If you want to submit a request to sell a share in the Fund, contact your financial advisor.

Who can buy shares in the Fund?

Fund shares are available for purchase and sale to all current clients of the Company.

What is the total commission?

The total commission consists of two parts: fixed commission for management (1% of NAV) and possible commission for success (15% of NAV growth, charged only if the yield exceeds 5%).

What are the tax consequences for Russian investors?

Russian legislation requires that Russian investors pay personal income tax if you made a profit when selling fund shares. Example: You bought a Fund share at 1 000 USD and sold it at 1 500 USD, then the difference of 500 USD will be taxed.
Dividends are taxed at 15%. We will withhold the tax, so you don’t have to worry.

Are there any tax incentives?

Dividends are taxed at 10% if you hold the shares for more than 3 years.
Dividends on shares listed on KASE are not taxed.

Are there ownership risks for RF clients?

Fund shares are purchased on the domestic market of Kazakhstan, so there is no segregation of clients.

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