Active Fund Transfer And Conversion

Active Fund Transfer And Conversion

ANNOUNCEMENT TO ACCOUNT OWNERS

In 2015/14 numbered and 01/06/2015 dated meeting of Capital Market Board; it is decided that "QNB Finansbank A.Ş Type B Variable Fund", of which we are the founder, is taken over by Finans Asset Management. In other respects, it is allowed that the aforementioned fund is associated under Finans Asset Management Debt Instruments Fund before transfer operations are completed in the 23/1087 numbered and 28/08/2015 dated meeting of Capital Market Board.

The amendments will be put into practice as of 26/10/2015. New participation share sales of the Fund will not be exercised during the period between publication date of herein announcement and effective date of the changes.

SUBJECT OF AMENDMENTS:

  • 1. The title of the fund subject to association will be changed as follows.
    Former Title New Title
    QNB Finansbank A.Ş Type B Variable Fund Finans Asset Management Debt Instruments Fund
  • 2. The Fund will be associated under Finans Asset Management Debt Instruments Fund affiliated to Finans Asset Management. Debt Instruments Umbrella Fund and management strategy will be changed as follows.

    Investment strategy of the Fund: At least 80% of fund?s total value will regularly be invested on domestic and foreign public and private sector debt instruments. However, foreign money and capital market instruments can be included in the fund portfolio with the rate of maximum 20% of the fund?s total value.

    ASSET AND TRANSACTION TYPE Minimum % Maximum %
    Partnership Interests (Domestic) 0 20
    Public Debt Instruments and Private Sector Debt Instruments 80 100
    Foreign Partnership Interest 0 20
    Foreign Debt Instruments 0 20
    Reverse Repo Transactions 0 20
    Takasbank Money Market Transactions 0 20
    Lease Certificate 0 20
    Time Deposits / Participation Accounts 0 10
    Gold and Precious Metals 0 10
    Mutual Fund and Exchange Traded Fund Participation Shares and Partnership Interests 0 20
    Mortgage and Asset Backed Securities 0 20
    Warrants and Certificates 0 10
  • 3. Management fee of the fund will be changed as follows but there are not any changes on the total expense rate.
      Former New
    Fund Management Fee Annual 2,01 %
    Daily 0,0055 %
    Annual 1,80 %
    Daily 0,0049 %
  • 4. Finans Invest will be Portfolio Custodian of all funds.
  • 5. Management of the funds will continue under Finans Asset Management.
  • 6. Unit share value of the fund to be associated on the association date of the funds is divided by the unit share value to be terminated and conversion rate is calculated. Number of shares of the fund terminated is divided by the conversion rate and the number of shares obtained is added to shares of the fund under which the fund will be associated. The shares, which cannot be rounded up to minimum share amount that is required for carrying out transaction due to conversion operation, will be liquidated and transferred to the account of the investor in cash. This amount will be determined over the price on the conversion date.
  • 7. Based on the similar management strategy, it is aimed that the Fund is associated at Finans Asset Management Debt Instruments Fund issued under Finans Asset Management. Debt Instruments Umbrella Fund and performance is increased.
  • 8. Assets and liabilities of the fund terminated will be transferred to the fund associated on the association date.