Open-end investment funds are collective investment instruments, without legal personality, whose fund units are subject to a continuous issue and redemption and which are managed by an authorized investment management company, through teams of professionals specialized in investments. They collect funds from investors for their investment in shares, bonds, money market instruments and other securities. Depending on the cash funds collected, fund units are issued, a unit representing a certain amount of money invested in the fund. The name “open” fund refers to the fact that, at the end of each day, the fund issues new units to investors and redeems units from investors who wish to withdraw from the fund.

Open-end investment funds, therefore, offer investors access to a diversified portfolio in terms of the financial instruments in which they invest and the expertise of fund managers, with much lower costs than in the case of individual investments.

 

The main advantages of the investment in mutual funds are:

 

  • Liquidity – the fund units can be purchased or redeemed at any time;
  • Accessibility – investment-related costs are lower compared to those related to direct investment in individual financial instruments from the fund asset portfolio; the mutual funds pay lower transactional fees than individual investors and these reduced costs translate in investment performances;
  • Equality of rights and obligations in relation to the other investors, as well as an organized administration of assets and administration transparency.

ABOUT AMUNDI

Amundi is Europe’s largest asset manager by assets under management and ranks in the top 10** globally. Amundi manages 1.653 trillion euros* in assets, through six main investment hubs*** across 37 countries.

Fees related to investing in Amundi mutual funds

 



*Amundi figures as of December 31, 2019

**Source IPE "Top 400 asset managers” published in June 2019 and based on AUM as of December 2018

***Investment hubs: Boston, Dublin, London, Milan, Paris and Tokyo

Manager of the local funds is Amundi Asset Management S.A.I. S.A., authorized by F.S.A. through decission no. 238/16.01.2004, registered at Trade Register under J40/15112/2003, URC RO15889522, F.S.A. registration no. PJR05SAIR/400007, 56 Dacia Bvd., building B, 1st floor, District 2, Bucharest, tel: 021 2100016, fax: 021 210 50 17, email: office.romania@amundi.com .

Amundi Funds II are managed by Amundi Luxembourg S.A. and they are registered in F.S.A Register, Open investment funds from member states secrtion, no. CSC06FDIMLUX0033, according to F.S.A certificate no. 55/18.04.2012.

The funds carry not only the advantages that are specific to them, but also the risk of not achieving the objectives, including some losses for the investors, the income attracted from the investment being, as a rule, proportional to the risk.

The information presented above do not represent an advice or a recommendation to buy, sell products or perform other transactions. Please read carefully the complete prospectus and the simplified prospectus of the Funds in which you wish to invest. Previous performances of mutual funds are not a guarantee of future achievements. Mutual funds carry not only the advantages that are specific to them, but also the risk of not achieving the objectives, including some losses for investors, the income attracted by the investment being, as a rule, proportional to the risk. At times, the value of the investment may be lower than the initial investment. There can be no assurance that countries, markets or sectors of activity will evolve as expected. Investments in mutual funds involve certain risks, risks related to the general evolution of the economy, the risk of changing the market interest rate, the risk related to foreign exchange rates, the risk of changing purchasing power due to inflation, investment risk, management risk, financial risk, etc. The risks associated with each fund are described in the respective fund's documents (Prospectus, Fund Rules and Key Investor Information), documents prepared, in accordance with its legal obligations, by Amundi Asset management.

We are pleased to introduce you to the RITM Investment Plan, specially created to support your steps towards granted wishes. RITM is an investment plan that allows you to invest regularly in local and international fund units by automatically debiting the current account.

To follow the RITM Investment Plan is:

Easy and disciplined

you only need to set a minimum amount of money dedicated to periodic investment in your favorite fund or funds;

Accessible

the minimum amount for periodical subscriptions is 50 lei for each denominated fund in lei, and 20 euro / 20 dollars for each denominated fund in euro or dollars;

Flexible

it can adapt to your needs at any time.

Because you choose

  • the fund or funds you wish to invest accordingly to your investor profile;
  • the amount you want to invest periodically;
  • the start date and the cease date of the periodic investments;
  • the frequency with which you want to invest periodically, minimum 1 month - maximum 6 months.

The information presented above do not represent an advice or a recommendation to buy, sell products or perform other transactions. Please read carefully the complete prospectus and the simplified prospectus of the Funds in which you wish to invest. Previous performances of mutual funds are not a guarantee of future achievements. Mutual funds carry not only the advantages that are specific to them, but also the risk of not achieving the objectives, including some losses for investors, the income attracted by the investment being, as a rule, proportional to the risk. At times, the value of the investment may be lower than the initial investment. There can be no assurance that countries, markets or sectors of activity will evolve as expected. Investments in mutual funds involve certain risks, risks related to the general evolution of the economy, the risk of changing the market interest rate, the risk related to foreign exchange rates, the risk of changing purchasing power due to inflation, investment risk, management risk, financial risk, etc. The risks associated with each fund are described in the respective fund's documents (Prospectus, Fund Rules and Key Investor Information), documents prepared, in accordance with its legal obligations, by Amundi Asset management.

Having in view the significant changes in the financial markets in recent years, the European Union (EU) has adopted a set of regulations that entered into force on January 3rd, 2018: (EU) Directive 65/2014 on the markets of financial instruments (MiFID II), Regulation no. 600/2014 regarding the markets of financial instruments (MiFIR) and Regulation no. 1286/2014 regarding the documents with essential information regarding the structured and insurance-based individual investment products (PRIIPs). MiFID II has replaced the previous MiFID I (EU) Directive, and its objective is to increase investor protection and introduce new transparency requirements regarding products, services and related costs.

What do the new requirements mean to you??

 

   More transparency in terms of costs:

  • detailed prior information regarding estimated costs related to transactions with financial instruments;
  • the detailed annual situation of all the costs related to the transactions with financial instruments;

 

   Enhanced transparency regarding transactions with financial instruments:

  • the definition of a target group of customers who can purchase each financial instrument;
  • "Individual investors", as defined in PRIIP's Regulations, will be provided with documents with essential information for structured and insurance-based individual investment products (such as, for example, mutual funds or derivatives, etc.);
  • for conducting the transactions with financial instruments, legal entities will be required to hold an identification code for investors (LEI Code);
  • records of telephone calls and electronic communications related to the transactions will be kept available for at least 5 years;

To help you understand what the Bank's obligations and your rights will be according to the new regulations, please read this material, where you will find detailed information on the most important changes brought by the latest legislative requirements.

MiFID II Directive (EU) regarding the markets of financial instruments was implemented in Romania through the Law no. 126/2018 regarding the markets of financial instruments.

Amundi is Europe’s largest asset manager by assets under management and ranks in the top 10** globally. Amundi manages 1.653 trillion euros* of assets across six main investment hubs***. Amundi offers its clients in Europe, Asia-Pacific, the Middle-East and the Americas a wealth of market expertise and a full range of capabilities across the active, passive and real assets investment universes. Headquartered in Paris, and listed since November 2015, Amundi is the 1st asset manager in Europe by assets under management.

Leveraging the benefits of its increased scope and size, Amundi has the ability to offer new and enhanced services and tools to its clients. Thanks to its unique research capabilities and the skills of 4.500 team members and market experts based in 37 countries, Amundi provides retail, institutional and corporate clients with innovative investment strategies and solutions tailored to their needs, targeted outcomes and risk profiles.

The funds bear not only the specific advantages, but also the risk of not achieving set objectives, including losses for investors, where the revenues invested are proportional to risk. The Fund's last performances do not represent a guarantee of future acomplishments. Read the emission prospects before deciding to invest. Complete information and documentation regarding the investment funds - investment funds rules, reports - can be obtained at the company's headquarters, from authorized retailers or on amundi.com or amundi.ro.

*Amundi figures as of December 31, 2019

**Source IPE "Top 400 asset managers” published in June 2019 and based on AUM as of December 2018

***Investment hubs: Boston, Dublin, London, Milan, Paris and Tokyo

Q&A

What is an open investment fund?

An open investment fund is a body of collective investments in transferable securities, which does not have a legal personality; its fund units are the object of an issuance and continuous redemption. The investment funds do not provide financial instruments outside the fund units and the administration of these funds is completed by an investment administration company.

What are the applied fees?

The only commission directly supported by the investor is the subscription fee. Current costs and expenses related to the administration of the fund units are deducted from the financial instrument value during the administration period and may include management, distribution and performance fees, thus being indirectly supported by the investor.Incentives represent any commission paid or received by the bank or any kind of non-monetary benefits offered by the bank or which the bank benefits in relation with the distribution of the investment service. This commission is paid by the SAI to the bank and it is not directly supported by the investor.

Is the money earned with the investment funds subject to tax? 

The tax for the money earned with the investment fund is 10% and it is paid by the client according to the current legislation.

How can we find out the price?

The price for a fund unit changes on a daily basis and the value of the purchase/sell is public the day subsequent to the day of the transaction.

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