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Mutual fund refers to a juristic entity apart from the management company. Investment security is affirmed by the control of SEC, Trustee and Auditor over the management company.

SEC refers to the Office of the Securities and Exchange Commission, which is responsible for supervision of the asset management business.

AIMC refers the Association of Investment Management Companies, which is responsible for promotion and development of the asset management business of the member companies (AIMC membership is compulsory for all management companies).

Management Company refers to the mutual fund management company, which is responsible for fund management in place of investors.

Trustee refers to a financial institution qualified by SEC to hold the mutual fund’s assets and protect the benefits of unit-holders. A trustee of any mutual fund must not be related to the respective management company.

Auditor refers to the mutual fund’s auditor approved by SEC to audit the mutual fund’s financial statements.

Selling Agent refers to the agent approved by SEC to support the sales of mutual fund’s investment units.

Registrar refers to the management company or any other person approved by SEC to act as the mutual fund’s registrar.

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2.1 What is NAV ?

NAV or net asset value of mutual fund is the net value per unit of an investor’s assets, or the right of investor in the fund’s asset. According to AIMC’s notification as approved by SEC, the actual market prices of securities invested in by the fund will be used for NAV calculation in order to enhance fairness for investors wishing to sell or buy investment units at that time. All mutual funds of KASIKORN ASSET MANAGEMENT have strictly adhered to this requirement.

2.2 Why does NAV have a decimal of four digits ?

Why does NAV have a decimal of four digits?

2.3 From what elements is NAV calculated ?

NAV is calculated from the closing prices of all securities invested in by the fund, plus returns on investments, deducted by all expenses and then divided by the number of all investment units.

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3.1 Difference between mutual funds with and without dividend payment policy

Mutual funds with dividend payment policy will make dividend payments to investors from their returns on investments. This type of fund is suitable for investors desiring regular income.

Mutual funds without dividend payment policy will reinvest their returns on investments. Such returns are reflected in higher NAVs of the existing investment units. This type of mutual fund matches long-term investors and/or any person in general. Capital gains from investment unit redemption are eligible for tax exemption.

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3.2 Are dividends subject to any tax payment? If yes, what are the tax rates for dividends ?

Dividends paid by mutual funds are subject to tax payment, which can be made by either of the following two methods:

1. 10% withholding tax deducted at the management company.
2. Including dividends in income for annual tax calculation.

3.3 Are dividends eligible for tax credit ?

Dividends are not eligible for tax credit because mutual funds’ incomes are tax exempt.

3.4 If I do not choose withholding tax to be deducted at the management company, can I do tax filing by myself ?

You may make your own tax filing by including dividends in your taxable incomes.

3.5 How do I make a decision between choosing and not choosing withholding tax ?

You may consider the current tax rate that you are subject to. If you pay higher than 10% taxes, you may choose withholding tax for your dividends.

3.6 For dividends that have been subject to withholding tax, will they have to be included for tax filing again ?

Dividends that have been subject to withholding tax will not be included for tax filing again.

3.7 What to do with an expired dividend cheque ?

Cheques are valid for a period of six months from the cheque dates. In case of an expired cheque, please send the following documents to any KBank branch:

1. The original cheque.
2. Certified copy of national ID card, specifying that it will be used for issuance of a new cheque to replace the expired one.

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4.1 How is the 15% income tax on capital gains earned from investment in fixed-income funds collected? How will it impact investors ?

1. A mutual fund is liable to corporate income tax on income earned from interest, discount and income in the nature of interest. Such income tax is withheld at the source by the payer of income or the mutual fund issuer before the benefit is granted to the mutual fund. Investors are not liable for income tax payment.
2. Capital gains from selling investment units are tax-exempt.
3. Investment in RMF is tax-exempt.
4. Return on investment in fixed-income funds will be slightly lower due to taxation.

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(Per announcement of the Cabinet meeting on August 28, 2018; the effective date has yet to be announced.)

5.1 What are the fees charged from mutual funds (important expenses for consideration) ?

Major fees charged from mutual funds include the following:

1. Management fee
2. Trustee fee
3. Registrar fee

5.2 Is there any trading fee for RMF/LTF ?

RMF: The front-end fee and back-end fee are waived.

LTF: The front-end fee and back-end fee are waived. There are penalties for investment unit redemption before the end of the specified holding period, i.e. 1.5% of NAV for redemption one year before the end of the specified holding period (day-to-day).

Transfer of investment units involves the transfer of investment units from one person to another under the established conditions as stated below.

6.1 What are the conditions for transfer of investment units ?

1. In case of unitholders’ death, transfer of investment units shall be undertaken by the administrator of an estate; all funds excluding LTF and RMF are transferable.
2. Fixed term funds can be transferred to any person.

6.2 Fixed term funds can be transferred to any person.

There is no fee.

6.3 If investors want to transfer their investment units, what documents are required, and where can they proceed with the transfer ?

Either transferor or transferee may contact any KBank branch during business hours and present an application for investment unit transfer, a copy of national ID card of both transferor and transferee, and their mutual fund passbooks. If any one of the aforementioned documents is lost, investors must report this to the local police office, and submit the police report as evidence for the transfer of investment units.

6.4 What evidence is provided for the completed transfer of investment units ?

After the registrar at KASIKORNBANK, Rat Burana Main Branch, has completed the transfer of investment units, the mutual fund passbook will be returned to the branch where the investor submitted the documents to request the transfer.

7.1 What are the processes for a customer’s name and/or last name change ?

The investor must bring the following documents to any KBank branch during business hours:

1. The original fund passbook
2. Certified copy of national ID card
3. Certified copy of certificate of name-last name change

7.2 If investors want to change their address, what do they need to do ?

Investors may choose to change their address via one of the following three channels, i.e.,

1. Contact any KBank branch and present your national ID card to a KBank officer.
2. Contact the KAsset Contact Center, tel. 02-673-3888, to confirm your identity.
3. Access K-Cyber Invest and choose the menu option, “Edit data/transaction”.

7.3 Are investors allowed to have their income tax on dividend deducted at the source ?

Yes. Investors can arrange to have their income tax on dividend deducted at the source, via one of the following two channels.

1. Contact any KBank branch and present your national ID card to our staff.
2. Access K-Cyber Invest and choose the menu option, “Edit data/transaction”.

7.4 If an address change has been done for fund accounts at A Branch, will the addresses given for fund accounts at other branches be automatically changed ?

Given that investors’ information is separate for different fund account numbers:

• If investors want to change their addresses for all fund accounts, they must specify “Change for all fund accounts”.
• If Investors want to change their addresses for some fund accounts, they must specify the numbers of accounts for such change.

7.5 The investor is using a KBank account A Branch to receive proceeds from mutual funds. Can change the account to a savings account at B branch ?

For the account change, the customer may bring the following documents to any KBank branch during business hours:

1. The original fund passbook
2. Certified copy of national ID card
3. Certified copy of the front page of savings deposit passbook