IS CBI Fund

Suitable for investing for 3 years or longer

What is it?

IS CBI Fund is an investment fund that invests in:

  • index linked covered bonds
  • index linked government bonds
  • bank deposits

Invest in Fund Fact Sheet

Funds Objective

The Fund's objective is long-term capital growth through investment in index linked covered bonds, index linked government bonds and bank deposits.

Who Should Invest?

The Fund is suitable for those wishing to invest for three years or longer and can tolerate fluctuations in the fund’s NAV. Investment in the Fund is recommended as part of a diversified securities portfolio. The average maturity of the Fund's portfolio is open. It is the Fund Managers responsibility to decide on whether to invest in long or short term bonds.

Investment Policy

The Fund aims to invest up to 75% in index linked covered bonds. The Fund may also invest up to 50% in index linked government-guaranteed bonds and up to 20% in bank deposits. The provisions of section a, b, c, d and e of paragraph 1and paragraph 4 of article 59 of Act. no. 128/2011 shall apply to the fund.

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.

Taxation
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.

Risks
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.

NAV

1.253,87
+1,30 (0,10%)
Nav dated 19.6.2019

Change in NAV & fund returns

Nominal return

Change in NAV 1 year



Funds

Information

Fact Sheet
Fact Sheet
Summary of Fund Returns
Tariff of Charges for Investment Services

Fund Type non-UCITS 
Inception Year 2015
Base Currency ISK
Minimum Purchase ISK 10,000
Minimum Purchase at Subscription ISK 5,000
Management Company Iceland Funds Ltd
Custodian Íslandsbanki
Fund Managers Ingólfur S. Kristjánsson
  Helga Óskarsdóttir
Fees
Initial Fee 1.00%
Annual Management Fee 0.90%
Service Charge Varies between Distributers
Transaction Orders
Settlement Cycle
2 Business Days (T+2)
Cut-off Time 10:00 GMT