FAQs | M/Fs Piraeus | Piraeus Asset Management MFMC

When and where can i obtain units?

The units of the Piraeus Asset Management MFMC Mutual Funds may be obtained any business day for credit institutions in Greece via the Piraeus Bank branch network.

How to choose a Mutual Fund

Our priority at Piraeus Asset management MFMC and Piraeus Bank Group is to understand your investment needs and objectives, and to provide the necessary assistance in order for you to select the appropriate Mutual Fund that shall correspond in the best possible way to your investment profile. That is why the first thing to do is to communicate and discuss with us the products and services which are offered by our company.

What is the process of acquisition of units?

In order to obtain units of the Piraeus Asset Management MFMC Mutual Fund, it is required:

to be given the Form «Key Information Document»;
to fill in a compatibility – suitability questionnaire;
to apply as prospective unit holder to the Company, filling in the respective application form; and
to pay in full to the Depositary the value of the Mutual Fund units in cash.

The day of the application submission shall be deemed as the participation date, provided that the application was submitted within the cut-off time (14:30 working days) set for the Mutual Fund, and it was accompanied by the deposit of the consideration paid for the acquisition of the units in a host account of the Mutual Fund.

How is the price of units determined?

The subscription price of the Mutual Fund units is determined by the value of the unit on the day the application for the participation in the Mutual Fund was submitted, provided that it was filed within the defined cut-off time and that the value of the units has been paid in full to the depositary. The subscription price is calculated on each business day and posted on the Company's website. The subscription price of the Mutual Fund units may exceed the net value of its unit at the rate of the corresponding commission.

When and where can I liquidate my investment?

The units of Piraeus Asset Management MFMC Mutual Funds may be redeemed any business day for credit institutions in Greece via the Piraeus Bank branch network.

What is the process of redemption of units?

For the redemption of the Mutual Fund units, the unit holder shall submit a redemption application to Piraeus Asset Management MFMC via the Piraeus Bank branch network. If the unit holder wishes partial redemption, the unit holder should define in the submitted application the exact number of units wishing to be redeemed. The day of the application submission shall be deemed as the date of units redemption, provided that the application was submitted within the cut-off time (14:30 working days) set for the Mutual Fund. In such case (application filed within the cut-off time), the units of the Mutual Fund shall be redeemed at the redemption price on the day the relevant application was submitted, as determined based on the unit value of the Mutual Fund on the same day. The redemption price is calculated on each business day and posted on the Company's website. The redemption price of the Mutual Fund units may be lower than the net value of its unit at the rate of the corresponding commission of the Company.

When will my money be available?

The redemption proceeds shall be paid in cash, in Euros (€), no later than five (5) working days upon the submission of the redemption application, by crediting the bank account that the unit holder declares in the redemption application.

Is there a minimum amount for the investment?

No, there is no limit to the amount of participation. Anyone can start an investment in the Piraeus Asset Management MFMC Mutual Funds with a minimum investment amount.

Will I be charged with commissions?

Unit holders of the Mutual Funds are subject to the following commissions:

Mutual Fund units subscription fees
Mutual Fund units redemption fees

These commissions (fees) are calculated on the net price of the unit and are payable directly by the unit holder.

How am I informed on my investment?

It is possible to daily monitor the value of the investment via the Piraeus Asset Management MFMC website www.piraeusaedak.gr or the Piraeus Bank website www.piraeusbank.gr , since the subscription and redemption prices are posted daily thereon. Furthermore, your personal advisor at the Piraeus Bank branches is always available to provide you with the information you need. Finally, the MFMC informs the unit holders of the Mutual Fund under management, regarding their investment, on a regular basis, at least every six months, by sending them relevant updates (statements).

Is my return guaranteed?

Attention. UCITS do not guarantee the initial investment capital as they have no guaranteed return and past returns do not guarantee future ones.

What risks do I undertake?

The risks which are materially relevant to the Mutual Funds –either general for all classes of Mutual Funds or more specific for particular classes– are the following:

Market risk: It involves the risk of losses emerging for the UCITS, which may result from a decline in the level of market prices in total or for a particular category of assets.

Counterparty risk: The risk to not smoothly fulfill the settlement of transactions, such as non-payment or invalid delivery of securities by the counterparty
Liquidity risk: The risk that the assets of the UCITS may not be liquidated promptly and at a fair price
Assets reduction risk: The risk arising from large redemptions of units in relation to the total assets of the UCITS
Active management risk: The risk of a great differentiation from the Benchmark
State risk: Involves the risk associated with the institutional and regulatory framework of the State in which assets of the M/F are invested
Interest rate risk: Involves the risk for the bond market and the money market from changes in the interest rate curve
Dispersion risk: Involves the risk arising from the limited dispersion of the M/F assets
Depositary risk: Involves the risk arising from actions or omissions of the depositary, deliberate, accidental, or even because of fraud, where the depositary or any third person entrusted with keeping individual assets becomes insolvent, which has resulted in the loss of assets
Operational risk: The risk of losses resulting either from inadequate or failed internal processes or from external events. It includes risks related to the safe-keeping of assets
Risk of derivatives: The risk of high volatility in the value of the UCITS unit because of the leverage of these products compared to investing directly in the underlying securities
Credit risk: The risk that the issuer of debt securities (bonds) defaults
Concentration risk: The risk arising from the concentration of most of the credit risk to one issuer
Currency risk: The risk arising from the investment of a part of the UCITS assets in securities or other UCITSs trading in a currency other than that of the former UCITS
Inflation risk: The risk associated with the decrease of the UCITS returns at constant prices due to the rise in the consumer price index

More information on the risks assumed and the risk profile of the Mutual Funds is contained in the Form Key Information Documents, as well as the form «Prospectus».