• The fund invests in fixed income, equity securities, and/or mutual funds, and/or deposits, including any other local and foreign securities, with a foreign investment exposure of not less than 80% of NAV.
• Under normal market condition, the fund may invest in risky assets (equity, mutual funds that invest in fixed income, hybrid securities and/or equity, property funds and infrastructure funds) not more than 79% of NAV.
• The fund may invest in structured notes and derivatives for EPM and to hedge against exchange rate risk at the fund manager's discretion.
• The Fund may invest in non-investment grade, unrated and unlisted securities not more than 20% of NAV
• Amundi Asset Management will be assigned to be the Outsourced fund manager and Credit Agricole S.A. is responsible as a guarantor of the Fund.
• KAsset may proceed to dissolve the Fund when NAV is less than 750 MB for 3 consecutive business days or the Fund is Monetized and the NAV per unit that unitholders will receive from the automatic redemption must not be lower than the offering price during IPO.
• Aim for capital protection while distributing appropriate return.
Guarantee Conditions
1. Unitholders will only be guaranteed the value of the investment units if they hold the units until the fund maturity date. The value of the investment units that unitholders will receive in each case is as follows.
| Case | Conditions | Value of investment units that will be received
(baht/unit) |
1
| Hold investment units until the maturity date and the bid price on the maturity date greater than or equal to Guaranteed NAV per unit. | Bid Price on the maturity date
|
2 | Hold investment units until the maturity date and the bid price on the maturity date less than Guaranteed NAV per unit. | Guaranteed NAV per unit |
3
| Redeem investment units before the maturity date. | Bid Price on the Redemption Date
|
2. The Guaranteed NAV per unit will start from the par value (10 baht). When the NAV reaches a level which exceeds the par value by 5% (or a multiple of 5%), the Guaranteed NAV per unit will be increased by 2.5% (or a respective multiple of 2.5%) of the par value.
Example of Guaranteed NAV per unit at Maturity
Highest NAV during the fund's term (baht/unit) | Guaranteed NAV per unit at the maturity date (baht/unit) |
less than 10.50 baht
| 10.00 baht
|
more than or equal to 10.50 baht but less than 11.00 baht | 10.25 baht |
more than or equal to 11.00 baht but less than 11.50 baht | 10.50 baht |
more than or equal to 11.50 baht but less than 12.00 baht | 10.75 baht |
more than or equal to 12.00 baht but less than 12.50 baht | 11.00 baht |
more than or equal to 12.50 baht but less than 13.00 baht | 11.25 baht
|
3. If an event occurs that causes the fund to invest entirely in low-risk assets (Monetization) the Guaranteed NAV per unit on the said trading day will not change until the maturity date of the Fund. By events that result in Monetization, such as when the Risk Budget drops to a low level or when the NAV per unit drops close to the Guaranteed NAV per unit etc. The low-risk assets include US government bonds with maturity dates close to the maturity date of the Fund and fully hedged against exchange rate risk, deposits or deposits equivalent.
Example of calculating the redemption proceeds that will receive when holding investment units until the maturity date.
- Investment amount 100,500 baht
- Offer Price (Par value + Front-end fee 0.50%) 10.05 baht
- 10,000 Investment Units
| | Highest NAV during the fund's term (baht/unit) | Guaranteed NAV per unit (baht/unit) | Bid Price on the maturity date (baht/unit) | Value of investment units that will be received (baht/unit) | The redemption proceeds at maturity date* (baht) |
Case 1 Bid price on
the maturity date
greater than or equal to Guaranteed NAV per unit. | 11.25 | 10.50 | 11.20
| 11.20 | 10,000 x 11.20 = 112,000.00 |
Case 2 Bid price on the maturity date less than Guaranteed NAV per unit. | 11.25 | 10.50 | 10.20 | 10.50
| 10,000 x 10.50
= 105,000.00
|
* The redemption proceeds at maturity date = Number of investment units x Value of investment units that will be received
4. The Guarantor may cease to provide the guarantee feature in case of:
- Change of Outsourced fund manager without receiving consent from the Guarantor.
- Change of the Fund Policy without the prior consent of the Guarantor.
- The dissolution of the Fund before the Maturity Date.
- Change in law or regulation that makes the payment of the Guaranteed Amount unlawful.
5. In the event of a change in laws or regulations (such as but not limited to, new financial or tax obligations for the Fund or the Guarantor), that affects the amount payable by the Guarantor, the Guaranteed NAV per unit may be reduced.
6. In the event that there is reason to arrange for a new Guarantor. The Management Company reserves the right to dissolve the fund or continue managing the Fund by canceling the guarantee and changing the fund name, including canceling the special characteristics of a guarantee fund, assuming that a special resolution has been received from unitholders.