IS Interest Account Fund

Investment time: 1 week+

Who Should Invest?

The Fund is suitable for those wishing to make a short-term investment with low volatility. Individual investments of the Fund will not have longer maturities than 370 days when the investment is made. The Fund can therefore invest in financial instruments which originally had longer duration than 370 days but mature in less than 370 days after the Fund made the investment.

Key benefits

  • Active management of bank deposits, bonds and bills
  • Low cost, no cost when banking online
  • Investment is always liquid

Price
1,255.99
0.09 (0.01%)
Price 13.06.2019
Nominal return
Bank deposits 79.5
Bank bills and securities
8.4
Government bills and securities
7.7
Cash
4.4

Investment policy and holdings

The objective of the fund is continuous and even capital growth through investments in financial institution deposits, short-term securities issued by financial institutions as well as short-term securities issued or guaranteed by the Icelandic Government. The estimated duration of the fund is 60 days and each individual investment can not have longer duration than 370 days. High proportion of deposits in the Fund's investment strategy minimizes fluctuations.

Holdings 01.05.2019

Price History

General information

Fund type
non-UCITS
Inception year
2014
Base currency
ISK
Minimum purchase
ISK  10,000
Minimum purchase, subscription
ISK  5,000
Management company
IS Funds Ltd
Custodian
Íslandsbanki hf.
Fund Manager/s
Ingólfur S. Kristjánsson & Helga Óskarsdóttir

Fees & Transaction orders

Purchase Fee
0%
- online banking discount
10%
- subscription discount
50%
Annual Management Fee
0.35%
Service Charge
ISK  500
- online banking discount
100%
Settlement
1 Business Day (T+1)
Cut off time
15:00 GMT

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.

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.

Price history and performance Funds’ nominal return for periods under 1 year is not calculated to a yearly basis, but shows price change instead. Nominal return for periods over 1 year is calculated on a yearly basis. Return calculation is based on last published price and is portrayed in each fund’s base currency.

Taxation The taxation of fund units is governed by the Income Tax Act No. 90/2003, the Act on Withholding of Tax on Financial Income No. 94/1996 as well as the Act on the Witholding of Public Levies at Source No. 45/1987. Further taxation can occur. It should be noted that taxation is determinded by the relevant individual circumstances of each respective customer and may be subject change in the future. The final taxation of non-resident unit holders depends on the local tax rules in the jurisdiction where they reside for tax purposes. Investors are advised to seek professional advice and/or information on the taxation of investing in funds.