Fund 11

Fund 11 is being liquidated. All cash and deposits have been paid into deposit accounts of the respective unit holders in proportion to their holdings. Other assets will be paid in the same manner as soon as their value is realized until no assets remain in the Fund. It should be kept in mind that the average maturity of the Fund's bond portfolio is over 4 years, so a significant period may elapse until all the bonds are paid in full.

The Objective

The objective is to realize the value of all assets of the Fund as quickly and efficiently as possible and pay to unit holders in regular payments. The Fund will not reinvest the cash received from bond instalments received but collect it for regular payments to unit holders.

Payments from Funds 11A and 11B

A total of ISK 5,977 million has been paid to unit holders of Funds 11A and 11B.

Payments Fund 11A* Fund 11B*
Payment 28.01.2009 0 72
Payment 01.07.2009 0 8
Payment 01.09.2009 0 2,127
Payment 07.12.2009 0 229
Payment 08.02.2010 1,486 0
Payment 12.05.2010 82 300
Payment 03.12.2010 148 275
Payment 04.05.2011 175 320
Payment 15.12.2011 29 54
Payment 15.06.2012 20 38
Payment 21.11.2012 27 51
Payment 27.06.2013 18 33
Payment 11.04.2014 50 94
Payment 05.11.2015
120  222 
*Amounts are in ISK million


General disclaimer

This summary is intended for informative purposes only and should not be interpreted as a recommendation to take, or not to take, any particular investment action. The summary does not represent an offer or an invitation to buy, sell or subscribe to any particular financial instruments.

The taxation of fund units is governed by the Act on Income and Net Worth Tax No. 90/2003 and the Act on Withholding Tax on Capital Gains No. 94/1996. Further taxation can occur. Unit holders not residing in Iceland can apply to the Icelandic tax authorities for an exemption from such taxation. The final taxation of non-resident unit holders depends on the local tax rules in the jurisdiction where they reside for tax purposes.

Investment in derivatives
In accordance with its Investment policy, the Fund is permitted to use derivatives to lock in profits, to minimize risk or to lock in prices in Fixed Income instruments because of forseeable redemptions or to act on market changes. A detailed description of use of derivatives can be found in the Funds Prospectus.

Various financial risks are always associated with investment activities, such as the risk of no yield or the risk of losing the capital invested. It should further be noted that international investing includes risks related to political and economic uncertainties as well as currency risk. Past performance does not indicate nor guarantee future performance of an investment. Each investor's investment objectives and financial situation is different. Before making an investment decision, it is important to seek expert advice and familiarise oneself with the investment market and different investment alternatives. Investors are encouraged to familiarise themselves with each fund´s Prospectus, especially regarding risk.