KEC1-UI
K Enhanced Credit 1 Fund Not for Retail Investors

Not for Retail Investors (For Institutional and Ultra ​High Net Worth Investors Only)​ /High Risk or Complex Fund. The Fund’s portfolio will be concentrated more than other funds, it is only suitable for investors who can bear high risk of loss. Investors cannot redeem this fund before 1 year. If there are any factors adversely affect the investment of this fund, investors may lose principal investment.
Data as of April 22,2020

NAV per unit

10.2546 Baht
Change
+0.18601.8473 %
Offer Price
N/A Baht
Bid Price
10.2546 Baht
Net Asset Value (NAV)
1,529,411,670.41 Baht
Registered Fund Capital
1,500 Million Baht
Inception Date
2 May 2019
​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Dividend Payout Policy
 No dividend payment
XD Dates
      -

Bloomberg Ticker
-

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​​Fund Type​​
• Fixed Income Fund
• Foreign Investment Fund (FIF)

The Fund is suitable for
An investor who thoroughly understands risks associated with the Investment and Credit Default Swap Transaction and can bear high risk of loss.
An investor who expects return higher than bank deposit and can accept return lower than investing in equity securities.
An investor who is able to accept and understand that you may suffer a loss of principal if the issuers unable to make the required payments on their debt obligations or any credit events of Reference Obligation or Reference Entity occur.
An investor who can hold investment until maturity and expects return higher than general fixed income securities. 
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Investment Policy
• ​The Fund will invest only once in foreign fixed income securities and/or foreign deposit and hold them to maturity. The portfolio will be concentrated in securities of any issuer by not more than 35% of NAV.

• ​The Fund invests in foreign not less than 80% of NAV. The Fund will use derivatives to fully hedged against exchange rate risk.

• ​​The Fund, as seller of protection (the “Seller"), will enter into a credit default swap transaction with the KASIKORNBANK Public Company Limited as buyer of protection (the “Buyer"). As seller of protection, the Fund will be required to make a payment to the Buyer if there occurs a Credit Event with respect to Reference Obligation or Reference Entity. In consideration of Credit Protection given by the Fund, the Buyer will pay the Fund an upfront premium.

• ​The Fund may enter into the reverse repo transaction and securities lending, and invest in derivatives hedging and efficient portfolio management purposes including structured notes.

• ​The Fund will not engage in short selling or repo transaction for the fund management purpose.


Details of Investment

The portfolio will be splited in 2 parts :

Part 1 The Fund will invest only once in foreign fixed income securities and/or foreign deposit including other eligible assets of fixed income fund approximately 100% of NAV with single issuer limit at approximately 35% of NAV

 

Part 2 The Fund, as seller of protection (the “Seller"), will enter into a credit default swap transaction with The KASIKORNBANK Public Company Limited as buyer of protection (the “Buyer"). As seller of protection, the Fund will be required to make a payment to the Buyer if there occurs a Credit Event with respect to Reference Obligation or Reference Entity. In consideration of Credit Protection given by the Fund, the Buyer will pay the Fund an upfront premium. The notional amount of CDS transaction will be approximately 35% of NAV. 


Please study details from Fund Fact Sheet of KEC1-UI
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Risk Spectrum

Level 8+
Extremely High Risk

Subscription and Redemption Details

Subjects
Details​
Subscription date
IPO: 22 - 29 April​ 2019​
between 8.30 a.m. - 3.30 p.m.
Unitholders can subcribe this Fund by switching from K-CASH, K-MONEY, K-TREASURY, K-SF and K-SFPLUS  during the initial offering period.​
Redemption date
Redemption will be at maturity of the fund. The Management Company will announce automatic redemption date to notify unitholders​ within 15 business days.​
Minimum initial subscription
1,000,000​​ Baht

Minimum subsequent subscription
-

Minimum redemption
-
Minimum​ account balance
-
NAV announcement date
Last business day of the month.​
Redemption Monies Proceeding​
The Management Company will use proceeds from auto-redemption of this fund to subscribe reinvested fund, which is specified in passbook. Numbers of unit trust of reinvested fund, which the unitholders will receive, are calculated by using subscription price of reinvested fund on auto-redemption day of this fund.​
Subscription and redemption channels​

Fees charged to the Fund (% p.a. of NAV)

Lists of Fees
Details
Management fee​
Not exceeding 3.2100​%
Trustee fee
Not exceeding​ 0.0535%
Registrar fee
Not exceeding 0.1070%
Other fees
As it is actually incurred

Fees charged to​ Unitholders (% of trading value)

Lists of Fees
Details
Front-end fee​
Not exceeding 1.0​​​0​%​ (Waived)
Back-end fee
None​
Brokerage fee
None
Switc​hing fee
None​
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Fund Performance

Data as of December 30,2019
  YTD 3 months 6 months 1 year (p.a.) 3 years (p.a.) 5 years (p.a.) 10 years (p.a.) Since inception (p.a.)
KEC1-UI 1.87% 1.06% 1.80% N/A N/A N/A N/A 1.87%
Benchmark Return 0.00% N/A N/A N/A N/A N/A N/A N/A

Historical NAV per unit

Date NAV per unit Change Offer Price Bid Price Net Asset Value
22/04/2020 10.2546 +0.1860|1.8473 % N/A 10.2546 1,529,411,670.41
21/04/2020 10.0686 -0.2024|1.9706 % N/A N/A 1,501,663,075.51
31/03/2020 10.2710 +0.0748|0.7336 % N/A N/A 1,531,856,834.92
28/02/2020 10.1962 -0.0032|0.0314 % N/A N/A 1,520,701,404.08
31/01/2020 10.1994 +0.0124|0.1217 % N/A N/A 1,521,176,847.51
30/12/2019 10.1870 +0.0291|0.2865 % N/A N/A 1,519,328,849.37
29/11/2019 10.1579 +0.0397|0.3924 % N/A N/A 1,514,990,919.66
31/10/2019 10.1182 0.0000|0.0000 % N/A N/A 1,509,069,334.20

Note: NAV Value Not include Dividend

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