Investing in Minastir Currency Fund

The Fund's Target Audience

Minastir Currency Fund is different from traditional mutual funds regarding investment strategies and risk management. The fund is therefore addressed to professional investors who have a good knowledge of the financial markets. An investment in the fund should not be regarded as an independent alternative to investing in traditional equity and bond funds. The fund should instead be used as an alternative to diversify the risks in a portfolio.

Subscription of Fund Units

Subscription of fund units can be made on the last day of every month (the dealing day). Application for subscription must have been received by us no later than five banking days before the dealing day, and can be made via the internet or a special form which can be requested from us or downloaded here.

Subscription proceeds must be available on the fund's bank account no later than five banking days before the dealing day and paid by bank transfer. Payment instructions are stated in the fund application form. Should payment not be available on the fund's bank account within the stipulated time, the application for subscription cannot be accepted. The fund will typically use the subscription proceeds and invest it before the dealing day to ensure that the unitholder receives the expected exposure in the fund on the dealing day.

The fund manager charges a fee of 2 percent for each subscription. The subscription price is the net asset value on the dealing day. The subscription price cannot be limited.

Minimum investment at initial subscription is 500,000 SEK or 50,000 EUR, thereafter a minimum of 100,000 SEK or 10,000 EUR for each additional subscription. According to §7 of the fund rules, we may close the fund to new subscriptions if the fund, in our opinion, is not able to invest its capital in a desired way. Such a decision will be based on the fund's investment goals and our perception of the fund's ability to achieve these goals. This can possibly occur if the fund's assets exceed one billion SEK or 100 million EUR.

Redemption of Fund Units

Redemption of fund units can be done on the last day of each month (the dealing day). Redemption request must be received by us no later than five banking days before the dealing day. Such request can be made via the internet or a special form which can be requested from us or downloaded here. Submitted redemption request may be withdrawn only if we allow it.

The redemption proceeds are available on the unitholder’s registered bank account no later than the fifteenth banking day following the dealing day. If the registered bank account is at a foreign bank, the transfer of the payment may be delayed.

The redemption price is the net asset value on the day the redemption takes place. The redemption price cannot be limited.

We charge no redemption fee for fund units that have been deposited for more than a year. Upon redemption of fund units that have been deposited for less than a year, a fee will be charged corresponding to the annual management fee, minus the management fee already paid. The fee may not exceed 2 percent of the value of the redemption proceeds.

Management Remuneration

Management remuneration is paid in the form of a fixed compensation (management fee) and in the form of a performance-based compensation (performance fee).

The fixed compensation (management fee) amounts to 2 percent per annum and is paid monthly in arrears. The compensation covers our costs for the fund's management, remuneration to the fund's depositaries, the Swedish Financial Supervisory Authority's supervisory activities, as well as remuneration to auditors regarding audit of the fund's accounts, and legal fees.

The performance-based compensation (performance fee) amounts to 20 percent of the fund's capital appreciation and is paid monthly in arrears. The compensation is paid according to a "high-water mark" principle, where the fee is only charged if the fund reaches a new highest level ("all time high") in relation to the most recent highest level since inception.

Brokerage commissions and other transaction costs attributable to the fund's investments are paid by the fund.

Dividend

Dividends do not occur in the fund.

Valuation

The fund's value is calculated by deducting from the assets those liabilities related to the fund. Assets included in the fund are valued at current market prices. Costs for the purchase and sale of financial instruments are charged to the fund. The value of a unit is the fund's value divided by the number of outstanding shares.

Act on Measures against Money Laundering

As a result of Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, the Swedish Parliament adopted the Act (2009:62) on Measures against Money Laundering and Terrorist Financing. The Act entails that financial institutions are required to achieve good knowledge of the parties for which business is conducted with or transactions are performed for. The Act also requires companies to report suspected money laundering and terrorist financing to the Financial Intelligence Unit. Similar regulations are implemented in about thirty countries and countries of the European Union.

Documentation Requirements

In order to ensure our compliance with the regulatory framework, the following documents must be attached in connection with subscriptions and redemptions. These documents also appear on the application form. We will carry out records checks with external registers as part of the screening process against money laundering and terrorist financing.

Subscription

  • Natural Persons: Application form in original and a certified copy of a valid identification document. For those other than Swedish nationals, a valid identification document constitutes of a passport. In addition, persons who are not registered residents in Sweden must attach certified copies of two different so-called utility bills, i.e. electricity-, telecommunications-, water bill, tax bill, bank statement, or similar.
  • Legal Entities: Application form in original, certified copy of certificate of registration (not older than six months), and a certified copy of a valid identification document for authorized signatories. Signatories who are not Swedish nationals are subject to the same requirements regarding identification documents as non-Swedish nationals (see above).
  • Financial companies under supervision: Application form in original and current signature list. For financial companies under supervision in other countries than Sweden, the company must attach proof that it has carried out its own identification checks in compliance with the current regulatory framework regarding money laundering and terrorist financing.

Redemption

  • All parties: Redemption form in original.

Incomplete documentation in accordance with the above will result in unsuccessful subscription or redemption. For subscriptions where the subscription proceeds have already been paid, the proceeds will be refunded to the sending account, or alternatively to the account the subscriber has indicated on the application form. Refunds are made without compensation for interest and with the deduction of any potential fees.