Investment documentation

Investment documentation

23 June 2022 – UPDATE: Suspension of net asset valuation for KBC Equity Fund Emerging Europe

KBC Equity Fund

Public open-ended investment company under Belgian law (bevek)
Havenlaan 2 – 1080 Brussels

Please refer to the press release dated 25 February 2022 and the update dated 8 March 2022 on the KBC website regarding the suspension of the net asset valuation and the execution of entry and exit applications and requests to switch sub-funds as of Friday 25 February 2022 for the Emerging Europe sub-fund of KBC Equity Fund, an open-ended investment company under Belgian law (bevek).

A precise valuation of the Russian assets in the fund remains impossible as long as the Russian stock market is closed to foreign investors. This is still the case. As long as a precise valuation remains impossible, the suspension will remain in force. This unusual action is taken in the interests of investors and this response has been broadly accepted by the market.

The war in Ukraine and the economic sanctions against Russia may significantly affect the valuation of the Russian shares in the fund. The value of these shares may therefore differ significantly from their value prior to the conflict. A potential consequence is that the next net asset value calculated after the suspension could deviate significantly from the last net asset value calculated before the suspension.

In addition to its positions in Russia, the sub-fund has holdings in several countries where, unlike Russia, the assets remain freely negotiable. The fund manager will continue to actively manage that part of the portfolio in the interest of the investor and in accordance with the sub-fund's objective and investment policy as described in the prospectus.

The prospectus, the key investor information document and the most recent financial reports are available free of charge at www.kbc.be/fundfinder and from the branches of the institution providing the financial service, namely KBC Bank NV.

08-03-2022 - UPDATE: Suspension of net asset value following tensions in the Russian market, for KBC Equity Fund Emerging Europe

KBC Equity Fund

Public Sicav under Belgian law
Havenlaan 2 - 1080 Brussels

We refer to the press release published on February 25, 2022 in connection with the suspension of the determination of the net asset value, as well as the execution of the requests for the issue and redemption of units and/or sub-fund changes from Friday, February 25, 2022 until further notice for the Emerging Europe sub-fund of KBC Equity Fund (Public SICAV under Belgian law).

We would like to inform you that the grounds for suspension have changed in the meantime. Following the substantial fall in value of Russian shares, the sub-fund's exposure to Russian shares has now dropped below 20% of the sub-fund's assets. However, given that the Russian stock market will remain closed to foreign investors until further notice, making it impossible to accurately value these assets, it has been decided, in accordance with Articles 196, 2° and 3° of the Royal Decree of 12 November 2012 on undertakings for collective investment meeting the conditions of Directive 2009/65/EC, to continue to suspend the determination of the net asset value, the execution of requests for the issue and redemption of units and/or changes to sub-funds, in the interest of investors, until further notice.

The prospectus, the key investor information document and the most recent financial reports are available free of charge at www.kbc.be/fundfinder and at the counters of the institution providing the financial service, i.e. KBC Bank NV.

25-02-2022 - Suspension of net asset value following tensions in the Russian market, for KBC Equity Fund Emerging Europe

KBC Equity Fund
Public Sicav under Belgian law

Avenue du Port 2 - 1080 Brussels

We wish to inform you that the determination of the net asset value as well as the execution of requests for the issue and redemption of units and/or sub-fund changes will be suspended as of Friday, February 25, 2022 until further notice for the Emerging Europe sub-fund of KBC Equity Fund (Public SICAV under Belgian law)
Due to the tensions on the Russian financial market, more than 20% of the assets of this sub-fund cannot be traded at a normal price. In accordance with Article 196, 1° and 3° of the Royal Decree of 12 November 2012 on undertakings for collective investment that satisfy the conditions of Directive 2009/65/EC, it is decided, in the interest of the participants, to suspend the determination of the net asset value, the execution of requests for the issue and redemption of units and/or changes to sub-funds. 
The prospectus, the key investor information document and the most recent financial reports are available free of charge at www.kbc.be/fundfinder and at the counters of the institution providing the financial service, i.e. KBC Bank NV. 

Information and publications

  • Asset test
    When units in an investment fund are sold, withholding tax (the so-called ‘Reynders tax') may be due in some cases on the capital gains realised. This overview includes an asset test showing which investment funds are subject to this levy (Belgian withholding tax).
  • Key Investor Information Document (KIID)
    The Key Investor Information Document will help you understand the nature of investment funds and the risks associated with them. In this way, the document enables you to make well-informed investment decisions.

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